Small businesses optimistic for growth in 2024

Posted under: SMB
Date: 2024-02-21
Small businesses optimistic for growth in 2024

Most small businesses are feeling optimistic about growth in 2024 and their ability to expand over the next 12 months. That’s according to a new report from OnDeck and Ocrolus that combines small business survey results with cash flow data from companies to provide deeper insights into the overall health and sentiment of small businesses across the United States. “Our survey of small business sentiment and cash flow data paints a deeper picture of the sentiment and overall health of small businesses today,” said Cory Kampfer, Co-President of Small Business Lending at OnDeck. The report also found a 25% growth in median revenue over the past 18 months, supporting small businesses’ optimistic outlook. The report is based on responses from nearly 500 small businesses with working capital loans and over 3 million small business applications for working capital financing during the past 18 months.