There’s a chill in the air, and football season is finally here. We’re only a few games in, but like every season, there’s already a sense of excitement and anticipation about which teams will thrive on the gridiron – and which one will earn the championship title at the end of the season.
Many small businesses are doing the same, powering through the last quarter of the year – and taking a hard look at changes needed to get to the proverbial championship game. Those goals might include landing that coveted client, tweaking processes to increase the bottom line, or making technology upgrades to take advantage of end-of-year tax breaks.
Small business growth
Small businesses are optimistic, too, and that’s a good thing. More than half (55 percent) of small business owners and managers see their businesses as “heating up.” They also expect business to grow over the last part of the year, according to the most recent Staples Small Business Index.
Many of the small businesses surveyed are also more confident, with 70 percent reporting that they plan to make changes that position themselves for growth. Research from the National Federation of Independent Businesssays that such important last quarter changes should include looking at capital spending – such as investments in technology or other large purchases – and solidifying hiring plans for next year. A visit to the CPA to talk about smart strategies to reduce tax burdens is another must-do for any business.
Happy to be independent
Despite the challenges of running a business, most entrepreneurs claim they wouldn’t want to do anything else. A recent Gallup Poll found that small business owners are extremely (17 percent) or very (38 percent) satisfied with being a small business owner—that’s a 12 percent jump compared to the third quarter of 2010.
Overall, 84 percent of you are satisfied – and that kind of optimism is equally important for future success. What are your plans for ending the year on a high note? We’d love to hear your comments and ideas.