Optimism Reigns for Business Leaders - Other News


Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Optimism Reigns for Business Leaders

Optimism Reigns for Business Leaders

Optimism Reigns for Business Leaders
The content is accurate at the time of publication and is subject to change.

The 2016 JPMorgan Chase & Co. Business Leaders Outlook report looked at how leaders in these areas felt about not only their own growth, but the global economic trends as well.

“While business leaders admittedly see challenges overseas, they continue to see opportunities at home and anticipate positive growth in international markets over the next few years,” said Jim Glassman, senior economist at JPMorgan Chase.

When it comes to expectations most executives working with middle market and small businesses are feeling optimistic, according the study, where 70% were looking to grow their businesses over the next year.

There is more variety in their responses when it comes to how the global economy will fare over the coming months, with 27% of small business executives and just 10% of midlevel execs forecasting positive growth.

Downturn in economic forecast

When it comes to their local economic forecast, 50% of executives are bullish on the economy, down 12% from last year. And when it comes to the national picture, only 39% see things with a positive spin, and here, too, that number is down from last years 68%.

What about the world economy? The downturn is sharp with 10% weighing in with a positive outlook, down 9% from last year when 19% said things were looking good.

The challenges, the growing pains

Any business faces challenges, but what are the top ones this year? For 74% of respondents revenue growth is the top concern, and for retailers the number was even higher coming in at 86%.

But that is not the only challenge, with 40% saying that their access to talent is limited and in the service industry the number goes up to 50% with construction companies feeling the talent crunch even more – 65% are struggling to find qualified new hires. On the other hand, labor costs are a concern for 40%.

Yet even with these challenges and pessimism being a trend when looking at the global economy, when it comes to their company’s performance in the international arena they expect strong growth.

“The challenges facing middle market businesses, especially those related to hiring talent and managing costs are indications of growing pains,” said John Simmons, Head of Middle Market Banking & Specialized Industries, Commercial Banking, Chase. “It is a positive sign that even with concerns about the global economy, their growth expectations remain strong.”

The 2016 Business Leaders Outlook survey took place in January/February with 1,394 middle market senior decision makers and 950 from small businesses taking part in the online survey.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Chases New Ink Business Unlimited Card
Chases New Ink Business Unlimited Card

Posted: May 24, 2018

With some help from Pro Skateboarder Tony Hawk, Chase is rolling out the new Ink Business Unlimited card, offering cardholders 1.5% cash back on all purchases with no categories to deal with. On top of earning cash back, they also get a… Continue reading

New Small Business Credit Card From Chase
New Small Business Credit Card From Chase

Posted: November 24, 2016

There is a new small business card in town – the Chase Ink Business Preferred credit card offering three points per dollar on key purchases and up to 80,000 bonus points. Continue reading

Save Money When Ordering ahead with Chase Pay
Save Money When Ordering ahead with Chase Pay

Posted: January 08, 2019

Chase Pay is getting cardholders off to a good start in 2019, by offering them some money saving promotions during January when they use the mobile wallet. Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
The Citi Rewards+SM Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap.
For Excellent, Good Credit
Earn cash back twice. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
For Excellent, Good Credit
Perfect credit not required for approval; we may approve you when others won’t
For Fair/Bad Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!