Small-Business Owners Optimistic And Expecting To Grow, New Survey Finds
9 Apr 2018
1st Century Bank, a division of MidFirst Bank, released the inaugural edition of the new research series "Los Angeles Small Business Attitudes" in partnership with Beacon Economics. Overall, the study shows tremendous optimism and expected growth for small businesses in Los Angeles across numerous industries for the next six months.
Small companies are drivers of ingenuity and progression, yet within the economic sector, their contributions are often overlooked. The media relies largely on macro data — primarily gross domestic product and the Standard & Poor's 500 — to gauge the health of the U.S. economy. However, a review of small businesses can reveal distinctive insights. Small companies can be, the most fragile businesses — fighting for market share, funding, sales and profits, while balancing the costs of payrolls and new technology to stay competitive.