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Small Business Owners Optimistic about 2017, Says New Survey

According to a recent New York Life survey, 60 percent of small business owners are optimistic for growth in 2017, saying they “expect their financial situation to improve in the coming year.”

This percentage outpaces the average American aged 30 or older, of which only 43 percent are optimistic.

According to the survey, which polled over 1,200 small business owners, most expect technology (70 percent) and the new political landscape (57 percent) to have a positive impact on their business.

“Small business owners have big plans for 2017, with many looking to incorporate tech, seek capital, hire, improve offerings to employees and explore ways to better manage their money,” said Brian Madgett, Vice President of New York Life.

Madgett also said the survey results were consistent across size and years in business.

In addition, 66 percent plan to incorporate mobile technology into their business, and 62 percent plan to grow the company in some way.

The most popular planning steps that small business owners intend to look into are finding ways to minimize taxes (79 percent) and also find ways to build an emergency fund (71 percent).