Small Business Owners Anticipate Growth Over Next Year

A new survey of small business owners from ADP show that despite concern about ongoing economic challenges, 52% of small businesses nationally expect to grow over the coming 12 months. Another 35% of small businesses anticipate their business volumes will remain the same.

That’s a shift in the level of optimism, given that 80% of those surveyed said their businesses have been negatively impacted by economic conditions of the past two years.

The findings point to operational efficiency as the main driver of expected growth. 53% of respondents from accounting firms, reported that spending less time managing payroll would lead to an increase in revenue. Many of these respondents are embracing technology as a means of reducing administrative burdens. 53% of accounting executives surveyed said they own a smartphone and 78% of these Smartphone users said they use them for business.