Nearly half of small businesses say they plan to add positions despite the current economic environment, according to a survey released by Chase Card Services, the credit card division of JPMorgan Chase & Co.
The survey queried CEOs and senior executives on the prominent Inc. 500/5000 list of fastest growing U.S. companies about their outlook on the economy, employment, general growth, and critical issues to their business, such as access to capital and cash flow management.
Specific findings revealed that:
Economic growth is on the horizon
49% said they are still adding positions despite the economy
76% said they believe the U.S. economy and their business will be doing better in three to six months
59% are expanding into new markets and nearly as many (5%4) say they are producing more revenue among existing customers
80% of small businesses surveyed described their business as pursuing a moderate or aggressive growth strategy
65% say that small businesses are very important in leading the country out of the recession
Capital needs are more important than ever
Two in five (39%) say that gaining access to capital or credit is one of the top three most important issues facing their business
One in three (33%) say that monitoring and managing cash flow is the most important issue facing their business
Its encouraging to learn that small businesses are planning to expand in multiple ways during such a difficult environment, says Richard Quigley, president of Ink from Chase at Chase Card Services. We strive to propel small businesses on the way forward, which is why we engineered our new suite of Ink business cards to address their fundamental financial needs for day-to-day operations access to capital and improved cash flow.
Unveiled this week, InkSM from Chase, is a new a suite of business cards developed specifically for small businesses. This new business card portfolio includes four distinct cards Ink Bold, Ink, Ink Plus and Ink Cash that deliver solutions based on a small business owners spending habits, cash flow needs and the desire to earn and redeem valuable rewards based on their preferences.
All Ink business cards are accepted at twice as many locations worldwide as American Express, supported by Chases 5,200 bank branches and their trusted staffs, and are designed to meet the individual needs of small business owners.
D.C.