SFCED | San Francisco Center for Economic Development

San Francisco Is Open for Business: Bank of America Survey Finds That Hiring Among Bay Area Entrepreneurs Is on the Rise

Small business owners in the Bay Area are overwhelmingly optimistic, according to the fall 2015 Bank of America Small Business Owner Report, a semi-annual study exploring the concerns, SF is Open for Businessaspirations and perspectives of small business owners in San Francisco and around the country.

Sixty-four percent of Bay Area small businesses plan to hire in the coming year, an increase from 42 percent a year ago. Additionally, 77 percent of area businesses plan to grow their business over the next five years, a 16 percentage point spike from last year, and 71 percent are confident their revenue will increase in the coming year, a 17 percentage point jump from a year ago.

Economic confidence on the rise, despite lingering concerns
In addition to confidence in their businesses, Bay Area small business owners have increased confidence in the economy: Two-thirds (66 percent) believe the local economy will improve in the next year, an increase of 10 percentage points from a year ago and the highest since the inception of the survey in 2012.

Read more: Business Wire (press release) San Francisco Is Open for Business: Bank of America Survey Finds …