A recent survey of 1,105 small business owners found that they are extremely positive about their ventures and what the future holds for them. The survey conducted by Manta, an online community for small business owners, also found that the millennial generation, persons born between 1980 and 2000, are now blossoming as entrepreneurs themselves.
In recent years, retailers have had to tweak the format of their stores to attract millennial shoppers, but now this group will likely become worthy competitors. In fact, 76 percent of millennial respondents said their businesses were thriving during the first half of 2014 and an astonishing 90 percent believed they’d be even more successful during the second half of the year. Clearly, they are a force to be reckoned with!
Other key findings of the survey:
- 76 percent are confident about the performance of their companies during the first half of 2014 and 83 percent expect even better results in the second half of the year
- Hiring for 2014 has gone up and there is an upward trend for 2015 – 30 percent hired new staff for the first half of the year and 35 percent expect to hire more staff in 2015
- 44 percent of millennials brought on more staff in the first half of 2014 and 52 percent expect to hire by year’s end
- Technology plays a vital role – 39 percent deemed Internet connectivity most important, 32 percent consider mobile phones most important while only 18 percent and 3 percent voted for email and organizational applications respectively
Reference:
“2014 Already Shaping Up To Be Successful For Small Businesses”. Buildmybiz.com.7/9/2014.
