Chicago Small Biz Confidence Rising: Report
"Close to four in 10 Chicago small business owners are confident that their local economy will improve over the next 12 months," according to the inaugural Small Business Owner Report just released by Bank of America. There's more good news, too, though, if you consider 37 percent of the market being substantial enough to help turn the tides.
If that number's too low, then consider this:
According to the Bank of America Small Business Owner Report, 57 percent of Chicago small business owners believe they currently have enough capital to effectively run their business. When asked what their biggest challenge is with managing cash flow, respondents cited not getting paid on time by clients and customers (46 percent) at the top of their list, followed by low profits and lack of business (21 percent).
It's a hefty 10 pages to sift through, though full of information probably more useful to venture capitalists in town than entrepreneurs, per se, but as an entrepreneur, knowing what VCs are concerned about will help you quell their fears.
Give it a read here.
David Wolinsky is a freelance writer and a lifelong Chicagoan. In addition to currently serving as an interviewer-writer for Adult Swim, he's also a columnist for EGM. He was the Chicago city editor for The Onion A.V. Club where he provided in-depth daily coverage of this city's bustling arts/entertainment scene for half a decade. When not playing video games for work he's thinking of dashing out to Chicago Diner, Pizano's, or Yummy Yummy. His first career aspirations were to be a game-show host.