Small Businesses More Confident In New York

Small Businesses More Confident In New York


As the economy begins to show signs of improvement, small business owners are feeling more confident.

With many in New York expecting growth in the next year, reassessing their small business insurance needs should be at the top of their to-do list.

According to a survey from Bank of America, the majority of metro New York small business owners expect revenues to jump in the next year. Meanwhile, more than a third will add employees and almost half believe the local economy will improve.

“The outlook is more positive,” Christopher Kaminski, Bank of America senior vice president of small business banking for the New York City market, told the New York Daily News. “A lot of small businesses, in the last couple of years, were riding out the storm. Now they are looking to grow their businesses.”

Consumer sentiment declined slightly in April, according to the Siena Research Institute, but as home prices continue to rise, New Yorkers may begin to feel more confident in the economy. Increased confidence can lead to additional business for small companies in the area.