Small Business Week … Restrained Optimism Prevails

Note: “Fresh Ideas” are published each week by Countybank and its family of financial service companies. With financial centers in Greenville and Greenwood, Countybank has a team of highly engaged professionals ready to bring a full scope of financial solutions designed to help families and business owners reach their goals.

In case you didn’t know it when you unlocked your door this morning, today begins Small Business Week (June 17-21). Be prepared for a lot of hype in the media about the importance and relative health of the small business sector in the coming days.

A recent survey of 917 small business owners conducted by digital marketing company Constant Contact is getting considerable coverage today. After reviewing the survey, Entrepreneur reports that almost 60% of small business owners/decision makers say it’s harder to run their enterprises now, compared to five years ago. While half say it’s very hard to keep up with the technology advances, for those that are experiencing an easier time of running their business, most point to digital capabilities as the main reason why.

A healthy 72% expect to see revenue growth in their businesses for 2013, despite the fact that the economy, on balance, is basically flat. Many report feeling a stronger push within their communities for working with locally owned businesses (both B2C and B2B).

These readings seem to sync with the dynamics of business in the Upstate market. Restrained optimism seems to be the mindset. Workforces are beginning to expand, driven in large part by the area’s good fortune of being in the right industries at the right time.

We hope your business is winding up a prosperous first six months of the year … and expectations are encouraging for the second half.