Latest State of Small Business Survey from IOU Financial also reveals stronger-than-expected performance in 2022, positive current state and decreased concerns about the future.
IOU FINANCIAL INC., (“IOU” or “the Company”) a leading online lender to small businesses, published their January 2023 State of Small Business Survey revealing a positive outlook for small business in 2023.
Highlights from the responses provided by small business owners include:
- 64% reported that their business performed better than expected in the 2nd half of 2022;
- 85% rate their current state of business “positive” or “very positively”;
- 88% expect their business performance to improve in the 1st half of 2023;
- Concerns about inflation, recession, staffing, consumer demand and public health have all decreased since July 2022;
- 61% “definitely” and 27% will “maybe” invest in their business in the 1st half of 2023.
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“The resilience and optimism of small business owners is a source of inspiration to us,” said Carl Brabander, EVP Strategy of IOU Financial. “IOU Financial is proud to fuel the growth plans of small business owners at a time when there are so many mixed messages being promoted in the media.”
IOU’s latest State of Small Business Survey is based on the responses of 175 small business owners provided in December 2022, providing a margin of error of 7% with a confidence level of 95%.
IOU Financial offers term loans of up US$1.5 million over 36 months, as well as the IOU Cash-Back Term Loan that offers a rebate of 3% to clients with a perfect repayment history.
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