The latest Rocket Lawyer Small and Medium-sized Business (SMB) Index released last month revealed increasing optimism for 2018: 80 percent of small businesses reported growth in 2017, and 63 percent believe their sales will increase in 2018, according to the press release.
Every year, Rocket Lawyer surveys over 500 SMBs to get a pulse on how businesses feel going into the new year.
“Small businesses continue to propel economic growth and fuel overall optimism,” said Charley Moore, Founder and CEO of Rocket Lawyer. “With the unemployment rate low, finding and retaining workers is top of mind and so will be attention to employment law issues like fair labor practices. Additionally, the recently passed tax plan is causing many small businesses to re-evaluate their business structure. So, we expect to see a growing number of self-employed individuals and small businesses seek professional tax consultations and consider incorporating for the first time, to take advantage of potential tax savings and limited liability protection.”
In addition to revenue, the index also got a read on where SMBs see the Trump administration one year into the Presidency, as well as questions such as immigration, tax reform and rollback of the Affordable Care Act (ACA).
Read the entire press release here.