Third Annual First Citizens Bank Small Business Forecast Shows U.S. Small Business Owners Plan to Grow, Millennials Optimistic
First Citizens BancShares, Inc. - Class A (FCNCA)
US:NASDAQ Investor Relations:
firstcitizens.com/about/who-we-are/annual-report
Company Research
Source: GlobeNewswire
RALEIGH, N.C., Oct. 05, 2017 (GLOBE NEWSWIRE) -- The third annual First Citizens Bank Small Business Forecast reveals that the majority of small business owners plan to grow their business this year. Overall, 71 percent of respondents expect to grow their business while 82 percent of millennials look for their business to expand in the next six to 12 months. The forecast also found millennials are generally more optimistic and eager to expand their businesses compared to baby boomers and Gen Xers. One area of concern for millennial business owners is employee retention, with about one in five saying they did not expect retaining employees to be as difficult as it has been. While small business owners were satisfied with their business performance, 68 percent expressed optimism around future economic conditions. Millennial small business owners have the most confidence in the U.S. economy (81 percent), an increase from 2016. In general, those surveyed agree that the state where the
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