For many small business owners, the best part of an improving economy may have more to do with their state of mind than their bottom line. So says a June survey in which small business owners nationwide were asked what they considered to be the greatest advantage of a growing economy.
Those assuming the number-one response would be an ever-fattening wallet might be in for a little surprise. While monetary advantages like increased capital for reinvestment and the ability to spend more on marketing were somewhat common answers, those tallies paled in comparison to the first-place answer: less personal stress.
According to the survey, which was conducted by SurePayroll more than one in three small business owners cited "less personal stress" as the greatest advantage to the current economic upswing.
"Anyone who has run a business will tell you the stress can be overwhelming, particularly in difficult economic times," said SurePayroll General Manager Andy Roe. "I think a lot of small business owners are breathing a little easier now that we're seeing more stability in the economy. It's a good feeling to be able to focus on hiring and growing the business, rather than cutting costs or cutting back on staff. It's healthy not only for the businesses, but for the individuals running the businesses."
Fortunately, a number of demonstrable, positive trends in small businesses across the country back up the optimism and feelings of relief. As the survey shows, more than six out of 10 of those polled say their businesses were profitable in the first half of 2015, and more than eight out of 10 say they will be profitable in the second half of the year.
Equally encouraging are the 51 percent of owners whose businesses are on track to surpass revenue from last year. This year also sees a trend of small businesses creating mobile versions of their websites, a move that directly correlates with an increase in Web traffic and sales.
As the second half of the year begins, positive trends and freedom from stagnation have translated into hopefulness for small business owners. Optimism among those polled is up 10 percent since June of last year, with more than three in four small business owners saying they feel optimistic about the economy and the direction it's headed.
Whether this optimism is sustainable in the long term remains to be seen, though there is no shortage of evidence to reassure a stressed-out small business owner.