KeyBank Survey Finds Signs of Confidence with Small Business Owners Coupled With Concerns about Inflation, Fraud and Political Noise [Yahoo! Finance]
KeyCorp (KEY)
Last keycorp earnings: 4/16 06:30 am
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Source: Yahoo! Finance
CLEVELAND May 2, 2024 /PRNewswire/ -- Often the first to feel the effects of inflation and economic volatility, small business owners are optimistic about their businesses, even as economic challenges remain. KeyBank's 2024 Small Business Survey found that 65% of small business owners feel confident they could fund their operating expenses for one month with their cash reserves, if an unexpected need arose. Still, 37% of business owners anticipate that inflation will slightly increase their operating costs and 27% expect a significant increase in operating costs in the next 12 months. The top challenges small business owners anticipate this year are fluctuating sales/revenue (35%), delayed payments from clients/customers (29%) and high overhead costs (28%). Despite these concerns, small business owners are well-adjusted and taking precautionary measures to protect their businesses—and the employees and communities they serve. They are already implementing cost-cutting measures (3
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