Majority of SMEs are optimistic despite challenges, survey finds

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30th August 2016 12:27 - Business Support

Majority of SMEs are optimistic despite challenges, survey finds: Recent figures from CAN Capital’s 2016 Small Business Health Index has revealed that despite challenges, small businesses in the United States are optimistic about their growth.Majority of SMEs are optimistic despite challenges, survey finds

CAN Capital’s 2016 Small Business Health Index measures SME owners’ feelings towards business, economic and consumer trends, as well as other factors, such as access to growth, capital and competition.

The Index uncovered that 64 per cent of small business owners are anticipating growth in the next year, although, they study did note that businesses face other major challenges, for example, just 34 per cent of the small businesses in the survey accept mobile payments. The issue of not accepting mobile payments presents a significant challenge, as mobile payment is quickly gaining momentum and becoming consumers’ favoured method of payment.

Mobile payments present a whole load of benefits to small businesses, as they allow companies to capture purchasing information and improve customer service as a result.

The Chief Executive Officer of CAN Capital, Daniel DeMeo, claimed that it is positive to see owners of small businesses feeling so positive about their growth prospects.

Supporting the figures in the Small Business Health Index, other research projects have also discovered that small businesses are positive about their future prospects. For example, the 2016 State of Small Business Report, uncovered that 71 per cent of small businesses are expecting growth in their revenue this year and a further 50 per cent are planning on recruiting.

Similarly, research by Allstate, the Insurance Company, discovered that 79 per cent of small businesses were feeling positive about the environment which they operate within.

The online research was conducted by CAN Capital between July 12th and July 18th 2016 and gathered data from 1,000 small business owners.

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