Tag: examples of small businesses

Small Business Owners Positive About 2024 Economic Outlook

Posted on by arijoeam

Happy days are here again for small business owners—well, kind of. There’s a lot of good news (mixed with some challenges) in several reports and surveys of the nation’s small business owners.

Small business economic outlook

The just-released 2024 Bank of America Business Owner Report revealed that 65% of small business owners expect their revenues to grow this year, and 55% report they made more money in 2023 than in 2022—a positive trajectory.

Over the next 12 months, small business owners also plan to expand their businesses (39%) and hire more employees (30%). Although these are positive numbers, they’re slightly

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Opportunities for small businesses to boost productivity

Posted on by arijoeam

At a glance

  • Micro-, small, and medium-size enterprises (MSMEs) form the backbone of economies. Across the 16 countries we examine, MSMEs account for two-thirds of business employment in advanced economies—and almost four-fifths in emerging economies—as well as half of all value added. They also power dynamism and will play an important role in preserving competitiveness in an era of shifting global production.
  • Boosting MSME productivity relative to large companies could yield significant value. Small business productivity is only half that of large companies, and less in emerging economies. Raising MSMEs to top-quartile levels relative to large companies is equivalent to
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