Outlook Positive for Microbusiness in 2015: Sam’s Club, Gallup Report Main Street Businesses Optimistic to Grow, Increase P...
January 22 2015 - 09:00AM
Business Wire
- Annual trends show increased
confidence YOY in future of company, growth, hiring
- Cost of Taxes remains top business
concern for five straight quarters
Microbusiness owners’ expectations to maintain or grow their
personal income in 2015 have increased 15 percentage points from a
year ago, according to the Sam’s Club/Gallup Microbusiness
Tracker.
Based on a year of feedback from America’s Main Street
microbusinesses – firms of five or fewer workers - Sam's Club and
Gallup discovered that America’s entrepreneurs’ expectations for
growth and strengthened business conditions have improved
dramatically since December 2013.
Microbusiness owners also report fewer concerns about their cash
flow or bottom lines at the end of 2014 than they did a year ago.
Owners concern for cash reserves as a “major issue” for their
business dropped 6 points from December 2013 to December 2014 (58%
to 52%), while the number of microbusinesses that had to dip into
personal savings to make ends meet dropped 9 points (44% to
36%).
Other annual trends signal microbusiness optimism,
including:
- Increased confidence in the future of
their companies (66.6% up to 72.5%)
- Decreased concern for finding more
customers (51.4% down to 46.5%)
- Decreased concern about access to
capital (35.8% down to 30.8%)
"With a year of data on American microbusinesses’ top emotional
and economic concerns, I hope small business advocates will join
Sam’s Club to respond to entrepreneurs needs and help them prosper
with data-driven solutions, services, grants and programs,” said
Rosalind Brewer, president and CEO of Sam’s Club. “The optimism
among Main Street business owners heading into 2015 is a
significant economic indication.”
“The improving outlook among microbusiness owners in December
2014 mirrors rising spirits and stronger economic signals in other
economic metrics Gallup regularly tracks,” said Ben Ryan,
entrepreneurial specialist at Gallup. “Economic confidence is up,
unemployment is down, and consumer spending is strong. The rising
tide appears to be lifting these smallest of boats as well.”
Cost of Taxes Top Concern for Millennial and Boomer
Microbusiness Owners
From December 2013 to December 2014, the cost of taxes was
consistently the top major business concern among microbusinesses
owners (61.4%) with even more (67.5%) concerned that the cost of
taxes will increase in 2015. Less than half (48.3%) of
microbusiness owners feel up-to-date on the latest tax policies.
Similarly, less than half (46.5%) are confident they will file
their taxes on time this year. For a breakdown of millennial and
boomer tax concerns, please see the attached infographic or visit
SamsClub.com/newsroom for the full “State of Microbusiness in 2015”
Report.
The State of Microbusiness in 2015 Report features annual and
quarterly trends on microbusiness financing and operational
concerns, including taxes and healthcare. It also features unique
Mood and Mind Indices that assess the basic preparedness and state
of mind of microbusinesses through 2014. The Mood Index has tracked
upward from this time last year, remaining relatively stable
through 2014 with a rise in line with improving economic metrics in
the fourth quarter. The Mind Index has rebounded in Q4 2014 after a
drop in Q3 of almost a full point, indicating recovering
assessments of preparedness and confidence among microbusiness
owners.
The Sam’s Club/Gallup Microbusiness Tracker results
reflect 1,007 phone interviews conducted November 24 to December
2014 with companies of five or fewer workers defined as
microbusinesses. The Tracker has followed companies of five or
fewer workers on a quarterly basis from December 2013 to December
2014. For further information please view Gallup’s article,
Microbusiness Owners Finish 2014 Feeling Strong and download the
Sam’s Club “State of Microbusiness 2015” report at
SamsClub.com/newsroom.
About The Sam’s Club/Gallup Microbusiness Tracker
The Sam’s Club/Gallup Microbusiness Tracker is a nationally
representative survey that regularly reports on U.S. businesses
with five or fewer workers, a key driver of U.S. economic growth.
The tracker provides valuable insight into the mood and mind of
microbusiness owners for decision makers and influencers in
government and commerce by highlighting the unique concerns and
challenges of microbusinesses along their path from startup to
maturity. To learn more about the Sam’s Club/Gallup Microbusiness
Tracker, visit SamsClub.com/Newsroom or Gallup.com.
About Gallup
Gallup delivers forward-thinking research, analytics, and advice
to help leaders solve their most pressing problems. Combining more
than 75 years of experience with its global reach, Gallup knows
more about the attitudes and behaviors of the world's constituents,
employees, and customers than any other organization.
About Sam’s Club
Sam’s Club®, a division of Wal-Mart Stores, Inc. (NYSE: WMT), is
a leading membership warehouse club offering superior products,
savings and services to millions of members in 643 clubs in the
U.S. and Puerto Rico. To learn more about Sam’s Club, visit
the Sam’s Club Newsroom, shop at SamsClub.com, and
interact with Sam’s Club
on Twitter and Facebook.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20150122005157/en/
Sam’s Club Media RelationsCarrie Foster Moore,
1-800-331-0085SamsClub.com/newsroom
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