Our Business Owners Outlook is a quarterly survey that explores business owners’ concerns and outlooks on themes that are most important to them.
- In this issue, Bouncing
BackForward, we examine some of the key issues facing business owners of color and their expectations for the future
- Our survey found that 63% of owners of color rate their current business situation as excellent or very good compared to 75% of white owners
- On the other hand, more owners of color (66%) than white owners (55%) have found something positive from the pandemic that they will continue.
Despite the health-related, economic and social issues of the spring and summer, more than three-quarters of owners of small businesses with at least $5 million in annual revenue and six in 10 owners of smaller businesses ($1 million to $4.9 million in revenue) are very or somewhat optimistic about their business over the next 12 months. Nearly nine in 10 owners remain confident they can still reach their business’ long-term financial goals.
Please access the replay of our virtual panel discussion on our 3Q Business Owners Outlook, where we share how entrepreneurs have reacted to the most important economic and social issues our country is facing right now: COVID-19 and racial injustice.
Please see important disclosures at the end of the report and webinar.
Whitney Brimfield, CEO of Spark Point Fundraising, reflects on what she sees as the responsibility. of white business owners to be leaders and active allies around racial injustice in the business owner community.
Whitney Brimfield, CEO of Spark Point Fundraising shares what her company is doing to increase diversity in the nonprofit fundraising world.
Whitney Brimfield, CEO of Spark Point Fundraising, which helps nonprofits achieve and maintain financial stability, discusses the impact of the pandemic on the philanthropic community.
Cheo Hurley, Founder, President and CEO of THG Companies, sheds light on the impact that the pandemic has had on the construction industry and how that industry is responding to ensure long term viability.
Cheo Hurley, Founder, President and CEO of THG Companies, shares his advice to business owners on the importance of being on solid financial footing when things are good, to be able to survive challenging times.
Stuart Smith, National Director of Business Valuation Strategies for M&T Emerald Advisory Services, shares his observations around how some business owners are looking outside of their industry for learnings, partnerships and deals, and that those business could come out even stronger from the pandemic.
Stuart Smith, National Director of Business Valuation Strategies for M&T Emerald Advisory Services, discusses both the challenges but also the silver lining opportunities for business transition in this difficult environment.
Angela Franco, Interim President of the Greater Washington Chamber of Commerce, shares her insights on business owner reinvention and the role of the support network during this unique time of crisis.
Theresa McCoy, President and Owner of American Community Management, shares how the current crisis and shared experience we are all in the midst of, will be a test of leadership and that the best leaders will rise to the top and help businesses to position themselves to not only survive but thrive under the new normal.