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MBE Magazine | Minority Business Entrepreneur | Minority Business, EPI, Supplier Diversity, Procurement, Women in Business - In Brief

For minority and women supplier diversity business entrepreneurs

Sage recently surveyed nearly 550 U.S. small business owners to determine their outlook and hiring plans for 2015, including their plans of attack for business growth and their potential challenges. Overall, U.S. small business owners reported their company performance was good or very good in 2014, and they expect 2015 to be a better year for them than 2014.

Businesses anticipate their biggest challenges for 2015 will be getting new customers, dealing with government regulations, managing healthcare costs, and dealing with taxes. Their top priorities are to cut expenses, invest in tech, and take on more employees.More small businesses will increase their workforces in 2015 than will decrease them. Owners say stronger consumer demand is the primary driver for increased hiring.

Forty percent of businesses with plans to hire indicate they will be hiring four or more employees. More than half say they plan to hire more in 2015 than in 2014. Nearly all say they will be hiring full-time help.

“Small and mid-sized businesses (SMBs) are the engine driving both economic recovery and the economy, overall. Unfortunately, taxes and regulations are consistently a top concern for SMBs, especially small businesses, and too much legislation and high tax rates pose the greatest obstacles to business formation and growth. The ‘small business voice”’on both legislation and tax issues needs to be heard. Luckily, 14 new representatives to the House on are small business owners. I think this bodes well for the future, and I’m hopeful we’ll soon see improvements that will allow small businesses to continue growing and thriving,” says Gabie Boko, EVP of Marketing, Sage North America.

For additional survey results, please visit http://bit.ly/1ECa880

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MBE's Business Opportunities resource covers business-related financing, consulting, and programs available for the Supplier Diversity community and M/WBEs. Updated monthly.

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