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Chase Outlook Report Lends Insight into Mindsets of Small Business Owners

The 2016 JPMorgan Chase Business Leaders Outlook Report was recently released, and has some interesting insight into the outlook of middle market and small businesses.

Overall, companies expect positive performance over the next 12 months, with 70% of middle market businesses and 69% of small businesses having a positive outlook, expecting revenue and sales to increase.

However, their views of the overall economy aren’t quite so optimistic. Only 10% of middle market executives and 27% of small business executives express optimism in regards to the global economy.

In addition, middle market businesses named these their top three challenges: revenue growth, limited supply of talent, and managing labor costs, respectively.

Small businesses shared the high concern for revenue growth, but considered uncertain economic conditions and taxes to be their next two biggest challenges.

Despite these challenges, businesses across the board expect international growth, with 60% who are globally active saying they expect overseas sales to increase over the next five years.

The Outlook Report is based on a survey conducted from January to February in which 1,394 middle market executives and 950 small business executives responded to questions regarding their business outlooks and concerns regarding the 2016 economic climate.