• For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
  • New Suppliers
Facebook Twitter Instagram
Monday, March 20
  • Subscribe
  • Submit Content
  • About Us
    • Contact Us
  • Advertise
    • Display Advertising
    • Email Marketing Campaigns
    • Newsletter Advertising
    • Sponsored Content
    • Lead Generation Services
  • Top Product Sources
Facebook Twitter Instagram
WholesaleCentral.com Blog
  • For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
  • New Suppliers
WholesaleCentral.com Blog
Home»For Buyers»Marketing & Management»Soaring Optimism for Small and Mid Market Business Owners
Marketing & Management

Soaring Optimism for Small and Mid Market Business Owners

PublisherBy PublisherJune 6, 20173 Mins Read
Facebook Twitter Email
Share
Facebook Twitter Email
Small Business

It is a good time to be in retail. Continuous developments in technology are leveling the business playing field, the new political climate promises imminent policy changes, and overall consumer and retailer optimism is rising. Buck Stinson, SVP for Capital One’s small business card and Joe Brusuelas, chief economist for RSM discuss some of the key factors behind the small and mid-market optimism, and what to expect going forward. 

Trends in Technology

Capital One’s latest Small Business Growth Index states that retailers expect trends in technology to have a big impact on their business, with 57 percent expecting chip cards, Internet of Things, mobile payments and Artificial Intelligence to all have some type of impact on their business, compared to just 44 percent of non-retailers.

Unsurprisingly, retailers are the most likely of all to offer mobile payment options to their customers, with 29 percent of retailers offering mobile payments compared to 23 percent of businesses overall. This represents a slight increase from Capital One’s report in 2016 when 24 percent of retailers said they offer mobile payment options.

Policy Developments

Brusuelas from RSM says that midmarket retail optimism is “tied directly to policy developments.” RSM’s Q1 index for 2017 reported a record high for mid-market businesses. Brusuelas explains, “The economy is improving at a modest pace, based on strong demand for labor and rising wages, that have resulted in an extraordinary three-year run where household consumption has increased three percent on a quarterly basis. This bodes well for mid-market firms, this bodes well for online retail space, and this bodes well for new entrants to the retail market. But,” he continues, “Publicly shared retailers are not capturing the spending that’s occurring.” It’s the small and mid-size retailers.

“Middle market businesses are expecting an improved balance sheet based on tax cuts,” continues Brusuelas. “The next six months will be a crucial period with respect to the shape, form, and function of the retail environment. The big risk to retail would clearly be the border tax as part of overall tax reform. But should the border tax die a natural legislative death then we’re talking a period of opportunity for retailers. This is a fluid period of time for policy and it’s important for retailers to engage.”

Best is Yet to Come

Capital One’s Index reports small business owners are feeling good about sales, the economy, and future conditions. The Small Business Growth Index found 50 percent of small business owners overall feel current business conditions are good or excellent, which is up from 41 percent this time last year. 50 percent also expect to see conditions improve in the next six months, which is the highest level reported since spring 2012. Women and Millennials are driving optimism, with 47 percent of women saying they’ll be in a better financial position six months from now and 73 percent of Millennials expecting better conditions. Buck Stinson says, “It’s encouraging to see more small businesses feeling optimistic about their performance and future prospects, particularly women and younger business owners who represent increasingly significant segments impacting our local and national economies.” Brusuelas concludes, “The underlying fundamental data is that things are pretty darn good for retail.”

management marketing May 2017 Issue small business technology
Share. Facebook Twitter Email
Previous ArticleA Winning Local Business Strategy
Next Article Handmade Vintage Designs from Textile & Twine

Related Posts

Make Money with Foreign-Trade Zones

February 22, 2023

Technology to Prepare Your Store for the Future

January 19, 2023

How to Create a Google Business Profile

January 18, 2023
Sign Up for Buyer Updates
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Latest Posts

2023 Wholesale Apparel Trends

March 14, 2023

Top Wholesale Easter Products

February 27, 2023

The Future of Sustainable Manufacturing is a Hybrid Approach

February 23, 2023

Make Money with Foreign-Trade Zones

February 22, 2023

Overstock Liquidations

January 25, 2023

5 Essential Tax Season Preparation Tips

January 24, 2023
how-to
Product News

Overstock Liquidations

January 25, 20236 Mins Read

Overstock inventory refers to the excess goods or merchandise that a retailer has on hand…

Retail News

5 Essential Tax Season Preparation Tips

January 24, 202310 Mins Read

Are you ready for tax season? April 18 is approaching quickly, and many day-to-day decisions…

Wholesale 101 for Buyers

How to Create a Google Business Profile

January 18, 20236 Mins Read

Looking for new ways to get your brand noticed? Creating a Google Business Profile can…

Retail News

Using Color Theory in Window Displays to Increase Foot Traffic

December 1, 20224 Mins Read

by Melissa Stivale While we do not often stop to think about how much color…

  • About Us
  • Subscribe
  • Contact Us
  • Advertise
  • Find Wholesale Sources
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Follow Us:

Copyright © 2023. Sumner Communications, Inc..

Type above and press Enter to search. Press Esc to cancel.