2016 Economic Forecast from Dun & Bradstreet

Small businesses are eager for the growth that they are anticipating this year, according to the Dun & Bradstreet and Pepperdine University Graziadio School of Business and Management 2016 Economic Forecast survey. The survey collected over 2,400 national responses from small to medium-sized business owners between Feb 2 to Feb 19, 2016. Overall, 81% of small businesses surveyed anticipate they will perform better this year than in 2015. This is compared to 12% who believe their business will perform the same, and 7% who believe their business performance will decrease. When it comes to impediments to growth, government regulations and taxes are cited as the main obstacles, by 35% of respondents. Even though government regulations and taxes are ranked as the greatest perceived impediments, the percentage of business owners that ranked both as such has dropped down three percent compared to a similar survey conducted in 2015. Other top ranked perceived obstacles for small to medium-sized businesses include:

  • Limited access to capital (26%)
  • Domestic (U.S.) economic and/or political environment (23%)
  • Global economic and/or political environment (23%)

The forecast also revealed that 67% of small businesses surveyed do not foresee a recession coming in the upcoming 12 months. This is a positive indicator that business owners feel confident taking initiative and pushing their businesses forward. The survey also highlights policies that business owners feel could potentially help spur job growth in the United States:

  • Increased access to capital (26%)
  • Tax incentives (23%)
  • Repeal or Modify Affordable Care Act (20%)

These three were listed as the top ranked policies perceived to have the most potential for helping spur growth in 2015 as well. Different policies were perceived as being able to spur job growth in previous years— for example, repealing or modifying the Affordable Care Act was the number one policy in 2014, and tax incentives was the number one policy in 2013. To find more results from the 2016 Economic Forecast survey, check out this infographic here.

 

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