The economy has improved considerably in the last several years, but many small business owners nationwide still seem a bit stung by the economic downturn that ended some time ago. However, all the steps forward since that time seem to have brought with them more robust bottom lines for many such companies, as well as better attitudes about these enterprises’ chances for future success.
The fact of the matter is that the economy of today isn’t significantly improved from what existed a few years ago, but both are still markedly better than what was seen during – and even for a little while following – the recession, according to a report from the Greenville News. Some companies even saw their sales numbers dip in 2013 when compared with the previous two years.
Fortunately, the overall sentiment does seem to still be positive, with many recent polls showing that owners think the economy’s trending in the right direction to help ensure their ongoing success in their areas, the report said. Most companies are still seeing improved revenues, and numbers are now at the highest levels seen since the recession began in a lot of cases.
“Throughout this tumult, business owners’ views about current economic conditions have gradually improved, largely on the strength of better operating results,” Mark Vitner, Wells Fargo senior economist, told the newspaper. “The rising proportion of businesses reporting that revenues have risen over the past year is consistent with recent reports that show overall economic activity has strengthened over the past year.”
Preparations for the future
With such a large number of companies seeing improved numbers these days, it should come as little surprise that most are trying to fortify themselves against difficulties down the road, the report said. Whether that means investing in new technology or equipment, or simply bringing on more workers to help them grow into a more stable company overall, setting aside funds is often near the top of many entrepreneurs to-do lists.
When it comes to making a company more streamlined overall, one way in which many may be able to do so with relative ease is by finding more affordable small business insurance. Finding reduced premiums for commercial insurance, for instance, could end up saving a firm as much as a few thousand dollars per year, which could then be devoted to improving other aspects of a company.