Survey: Small businesses optimistic about holiday
Atlanta — Small businesses are optimistic with regards to the upcoming holiday season, with 41% of businesses expecting a much stronger holiday season in 2013 than 2012, according to a survey by Kabbage, an online provider of working capital.
Small businesses also plan to increase their borrowing for the remainder of 2013 in order to meet the robust demand, the survey reported.
Other key findings from the survey include:
- 65% of companies expect to borrow more working capital in 2013 versus 2012. Of those, 64% plan to borrow more based on expectations of stronger sales, while 20% plan to borrow more because they are more optimistic about the economy.
- The top four sources of working capital for small businesses are credit cards, online cash advance sites, banks, and friends & family.
- Q4 remains the busiest time for small businesses. 44% report that Oct-Dec is their busiest selling season, while 38% report consistent sales throughout the year.
The survey was conducted in July 2013 of Kabbage customers.
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