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05/13/2014

DFW small business owners cautious in Bank of America survey

North Texas small business owners surveyed by Bank of America in March were a little less optimistic than their national counterparts, with only 56 percent anticipating revenue increases in the coming year compared to 68 percent nationally . But they plan to keep at it, with 63 percent expecting to work beyond age 65 and two-thirds of those saying they’ll keep working because they like it and don’t want to stop. They tend to put in the hours. But the majority feel they can balance work and life through an average 49-hour work week. When it comes to work-life balance, three in four (76 percent) feel they have made personal sacrifices for their business, and their most common regret is not spending enough time with loved ones (34 percent).

The biggest worry among area business owners surveyed by the bank was healthcare costs, cited by 70 percent and 66 percent citing the effective of government leaders. About three-quarters of the U.S. respondents mentioned those issues, with another 70 percent concerned about higher commodities prices. DFW owners are fairly cautious about the area economy, with just half looking for growth in the coming 12 months. 

-- Jim Fuquay

 

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