54% of owners worry about cybersecurity threats, while another 50% say data privacy.For millennials, 51% of them say they plan to grow their staff, while only 25% of baby boomers plan to do so. In terms of hiring, both millennials and minority business owners are looking forward to increasing their staff.83% of small businesses feel comfortable with their cash flow, another indicator of good health.20% of the owners reported they increased the size of their staff in the past year, the highest percentage in the history of the index.71% of small business owners feel optimistic about the health of their business, while 62% feel optimistic about the health of their local economy and 57% believe the U.S.“It is remarkable that millennial-owned and minority-owned small businesses have aggressive hiring plans despite the tight labor market.” These high levels of confidence have prompted Main Street employers to increase hiring,” said Tom Sullivan, VP of small business policy at the U.S. “Through this quarter, small business optimism has continued to grow reaching unprecedented levels. ![]() ![]() One in five small business owners added staff in 2019, even as low unemployment made hiring tough. ![]() Chamber of Commerce Small Business Index, all 50 states are reporting small businesses saw revenue growth in 2019 and unemployment is at a 50 year low, even while trade battles with China were going on (fortunately, the December announcement from the White House signaled good news on that front) and a growing number of economists are predicting a recession next year. Several economic surveys and studies out this month show that small businesses are feeling more confident than ever, shunning Grinch-like recession fears. We have a heaping helping of small business data to share with you, and it points to a good year ahead.
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