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Small business owners in metro Atlanta are feeling good about the future, especially compared to those elsewhere.
According to a Bank of America survey done just prior to the recent elections, 36 percent of small business owners here expect to increase staff in the next 12 months. That’s the biggest gain among nine markets measured, and better than the national average of 31 percent. Another 50 percent here expect to maintain current staff levels.
“They’re very optimistic about where they are now as well as where they will be in 2013,” said Felicia Lewis, the bank’s small business banker manager.
One reason for their optimism may be that 58 percent of small business owners here expect their revenue to increase in the next year, better than the national average of 54 percent.
When the previous semiannual survey was released in May, 33 percent of metro Atlanta small business owners expected to hire more workers, and 57 percent foresaw gains in revenue.
Small businesses here also feel they’re sufficiently funded, with 72 percent saying they have enough capital to effectively operate in the next year, up from 65 percent in May. That’s also the highest figure in the nation. Only 19 percent intend to apply for a loan in 2013.
Bank of America surveyed 1,003 small business owners with annual revenue between $100,000 and $5 million, with two to 99 employees. The bank surveyed 300 small business owners in nine target markets including metro Atlanta.