Small Business Owner Report
Bank of America
First published May 2012
We are pleased to share the first edition of the Bank of America Small Business Owner Report, a new semi-annual study uncovering the concerns, aspirations and perspectives of small business owners across the country. As part of our ongoing commitment to understanding the needs of small business owners, the study examines a broad spectrum of topics including the state of the economy, growth expectations, business management and lifestyle issues.
What we found will help shape the way we think about the challenges small businesses face, and the opportunities that are available to them. Small business owners are under a lot of stress, often making significant personal sacrifices so their businesses can succeed. But though they face headwinds in some respects — the economy, finding the resources they need, hiring and keeping the best people — they are also resilient, optimistic about their future.
We share their optimism, and we want them to be successful. So we are working hard, too, to be there with the right tools and advice to help them manage their credit and cash and stay ahead of their financial needs. As the business environment becomes more complex, we continue to expand and deepen our commitment to help small businesses thrive in every community we serve. That lets them do more of what they do best — build their business.
Dean Athanasia, Preferred and Small Business executive