By Andy Roe of SurePayroll
As many as 85 percent of small business owners are optimistic about the economy heading into the new year, according to a recent SurePayroll Small Business Scorecard®.
The last time optimism about the economy was this high was in May of 2015. The highest it’s been in the last year was just 78 percent.
Additionally, 66 percent of small business owners expect to be profitable in 2017, with a third looking to grow the size of their company as well.
How Will Small Businesses Reach Profitability?
More than anything, it’s up to them – 42 percent report that execution by themselves and their employees will be the key to success in 2017; 27 percent say a strong economy is key; and 17 percent say it will depend on changes in the law that are favorable to small businesses.
This is as optimistic as small business owners have been in almost two years, yet they’re still realistic in knowing they have to be smart and efficient about running their businesses. From what they tell us, that means bringing in more skilled employees, as well as managing cash flow and keeping their balance sheets in good shape.
Andy Roe is the general manager of SurePayroll, a Paychex Company. SurePayroll provides payroll services to small businesses nationwide and surveys those businesses on a monthly basis for insights into the small business economy. Follow Andy on Twitter @AndrewSRoe and connect with him on LinkedIn.
The views, opinions and positions expressed within this guest post are those of the authors alone and do not represent those of CBS Small Business Pulse or the CBS Corporation. The accuracy, completeness and validity of any statements made within this article are verified solely by the authors.