Why Small Business Owners Are Optimistic About 2016

Entrepreneurship is scary, and small businesses tend to be volatile structures. With a high rate of failure, low levels of stability, vulnerability to market fluctuations and new competition, and unpredictable performance even with a great idea in tow, it’s no wonder why most new business owners are at least somewhat nervous about their latest ventures.

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With a major economic downturn in recent memory, as well as questionable developments in the global economic climate, you might think that these worries have only compounded over the past year but, in fact, the opposite is true.

Small business outlook for 2016 looks favorable

A Resurgence of Optimism
According to a survey conducted by small business lending platform Credibly, 73 percent of small business owners are optimistic about their success in 2016, reporting a “favorable” outlook on the year ahead.

The tech industry seems to be the most optimistic, with nearly 78 percent of technology company owners expecting their businesses to be successful this year, while even the least-optimistic industry – manufacturing – still reported favorable outlooks from over 61 percent of business owners. So, why are business owners so excited about 2016?

What factors are making these entrepreneurs optimistic about their businesses’ performance?

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