Small Business Outlook Positive Despite Slow Start to 2023

The small business outlook is always in flux due to macroeconomics. And there’s been no shortage of challenges for Small Business owners since the start of 2023; from continuing rising interest rates, narrowing access to credit through traditional banks, sudden bank closures and ongoing staffing issues, the hits kept coming.  If you read the headlines in mainstream media, the outlook of the Small Business landscape seems bleak.

However, in an effort to truly understand how Small Business owners are feeling about both the short-and longer term state of their business we surveyed thousands of entrepreneurs during April 2023.  And the results were more positive than the media would have you believe. Business growth plan chart image from April 2023 State of Small Business Survey

Undoubtedly, 2023 started off slow, but as we settle into Q2, the majority of Small Business owners think things are looking up for the rest of the year and sense the worst is behind them.  In fact, nearly 70% plan to invest in their growth within the next six months.

This speaks volumes to the resiliency and courage of small business owners that ZING Funding so greatly admires and we look forward to the opportunity to help support that growth mindset with the financing options we provide.