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Sales, Profits and Hiring Up in Small Business Survey Results
CLEVELAND, Oct. 5, 2012 /PRNewswire-USNewswire/ -- While business conditions have improved for them this year, small businesses in Northeast Ohio are still cautious on the national economy with the presidential election looming. That's according to a recent survey of nearly 400 small businesses in the Cleveland area by The Council of Smaller Enterprises (COSE).
COSE has released its second quarter Small Business Monitor survey that tracks trends, economic indicators and opinions of some of its 14,000-plus small business members. The survey is conducted quarterly and is sponsored by FirstMerit Bank.
A snapshot of findings includes:
- 54% of small businesses reported higher revenue in the past year, and 61% expect it to increase next year.
- 41% reported higher profits.
- 23% hired in the past 12 months, and 28% intend to hire in the next six months.
- Nearly one-third are "very confident" about the future financial health of their businesses, and 54% are "somewhat confident."
- 28% reported that their businesses are growing, and 50% expect growth in the next year.
- Two-thirds see no improvements in the national economy in the next 12 months.
COSE's full report on the survey's findings can be found at www.cose.org/SBMsurvey. For more information on the COSE Small Business Monitor survey, contact Randy Carpenter at firstname.lastname@example.org or (216) 592-2371.
COSE is one of Ohio's largest small business support organization, striving to help small businesses grow and maintain their independence. Comprised of more than 14,000 member companies, COSE has a long history of fighting for the rights of all small business owners, whether it's through group purchasing programs for health care, workers' compensation, or energy, advocating for specific changes in legislation or regulation to benefit small business, or providing a forum and resource for small businesses to connect with and learn from each other. (www.cose.org)
SOURCE Council of Smaller Enterprises