JOFFREY INSTITUTE
$480,000
Medical Practice Start Up
10 year Financing
Schaumburg, Illinois
Submitted by Professional Finance Consulting to CIT
What’s Going On in Small Business Right Now?
Small Businesses Expect Growth
New CIT study finds cautious optimism among business owners
After a turbulent year, U.S. small business owners have a cautiously optimistic outlook for 2010, according to a new study by CIT and Forbes Insights: U.S. Small Business Outlook 2010: Lessons Learned – A Case for Greater Optimism.
What’s Going On in Small Business Right Now?
Small Businesses Expect Growth
New CIT study finds cautious optimism among business owners
After a turbulent year, U.S. small business owners have a cautiously optimistic outlook for 2010, according to a new study by CIT and Forbes Insights: U.S. Small Business Outlook 2010: Lessons Learned – A Case for Greater Optimism.
Based on the responses of owners and executives at 220 U.S. small businesses with annual revenues between $1 million and $15 million, the report examines how small business owners are responding to current economic challenges and opportunities. It is the last in a series of four middle market and small business studies produced over the past year by Forbes Insights in association with CIT.
“Our study found that a surprisingly high percentage of small business owners are more optimistic about 2010 after having survived the worst of the recession,” said Chris Reilly, President of CIT Small Business Lending. “Many believe that the survival strategies they’ve implemented and hard lessons they’ve learned have better positioned them for growth this year.”
Among the key findings in the study:
• More than 70 percent of small business owners said that they are working harder to run their businesses than ever before. In addition, 81 percent said they are now smarter about running their companies – and a majority believe that the challenges of the recession have made them better leaders.
• While cautious about the general economy, most small business owners expect their businesses to grow in 2010.
• Economic stimulus plans enacted by Washington have not provided any benefits to small businesses, said most respondents, but small business owners remain hopeful that the federal government will take action to help them, particularly in the area of financing.
• A majority of small business leaders (64 percent) intend to be more aggressive in 2010 by implementing a range of actions to advance their businesses.
CIT has served the middle and small business markets for more than a century. Our long-term relationships with clients are built on a deep understanding of the industries in which we operate and deliver high-value solutions and services. We conducted this series of surveys to further our understanding of these industries and our clients. Designed to reinforce our thought leadership and market expertise, and to highlight the intellectual capital of our leaders, these in-depth studies examined the middle and small business markets during one of the most financially challenging times in history.
RESOURCE http://www.cit.com/about-cit/us-small-and-middle-market-outlook/us-small-business-outlook-2010/index.htm
For more information:
Mike Seeley
Regional Account Manager
O: 407.772.4556
M: 407.461.1770
Mike.Seeley@CIT.com
Did you know that…
• According to our
study, 44% of small business owners have a growth
strategy in place once recovery from
the economic downturn begins.
Click here for
Money Rates
