New Survey from WSFS Bank Reveals Optimism Among Small Business Owners
WSFS Bank's new survey of 597 small business decision-makers reveals a positive outlook for 2025, with 60% expecting revenue growth despite recent economic challenges. The survey, focused on businesses with annual revenues up to $5 million, shows owners planning key investments in equipment (26%), working capital (25%), and expansions (24%).
The past two years presented significant challenges, with businesses citing inflation (59%), cost of living crisis (45%), and recession fears (31%) as primary concerns. In response, 54% cut non-essential spending and 27% sought more affordable suppliers.
Regarding banking relationships, 53% use large national banks, while 29% prefer regional banks. Business owners primarily seek assistance with credit cards (53%), cash flow management (38%), and growth capital (36%). The survey indicates a preference for in-person meetings for complex services like business planning (66%) and lending (62%), while showing flexibility for routine services.
Il nuovo sondaggio della WSFS Bank condotto su 597 decisori di piccole imprese rivela un outlook positivo per il 2025, con il 60% che prevede una crescita dei ricavi nonostante le recenti sfide economiche. Il sondaggio, focalizzato su aziende con ricavi annuali fino a 5 milioni di dollari, mostra i proprietari che pianificano investimenti chiave in attrezzature (26%), capitale circolante (25%) ed espansioni (24%).
Negli ultimi due anni sono emerse sfide significative, con le aziende che citano l'inflazione (59%), la crisi del costo della vita (45%) e le paure di recessione (31%) come preoccupazioni principali. In risposta, il 54% ha ridotto le spese non essenziali e il 27% ha cercato fornitori più economici.
Per quanto riguarda le relazioni bancarie, il 53% utilizza grandi banche nazionali, mentre il 29% preferisce banche regionali. I proprietari di aziende cercano principalmente assistenza con le carte di credito (53%), la gestione del flusso di cassa (38%) e il capitale per la crescita (36%). Il sondaggio indica una preferenza per incontri di persona per servizi complessi come la pianificazione aziendale (66%) e i prestiti (62%), mostrando al contempo flessibilità per i servizi di routine.
La nueva encuesta de WSFS Bank a 597 tomadores de decisiones de pequeñas empresas revela una perspectiva positiva para 2025, con el 60% esperando un crecimiento en los ingresos a pesar de los recientes desafíos económicos. La encuesta, centrada en negocios con ingresos anuales de hasta 5 millones de dólares, muestra que los propietarios planean inversiones clave en equipos (26%), capital de trabajo (25%) y expansiones (24%).
Los últimos dos años presentaron desafíos significativos, con las empresas citando la inflación (59%), la crisis del costo de vida (45%) y los temores a una recesión (31%) como las principales preocupaciones. En respuesta, el 54% recortó gastos no esenciales y el 27% buscó proveedores más asequibles.
En cuanto a las relaciones bancarias, el 53% utiliza grandes bancos nacionales, mientras que el 29% prefiere bancos regionales. Los propietarios de empresas buscan principalmente asistencia con tarjetas de crédito (53%), gestión de flujo de efectivo (38%) y capital para crecimiento (36%). La encuesta indica una preferencia por reuniones en persona para servicios complejos como la planificación empresarial (66%) y préstamos (62%), mostrando flexibilidad para servicios de rutina.
WSFS은행의 새로운 설문조사는 597명의 중소기업 의사 결정자를 대상으로 2025년 긍정적인 전망을 밝혔으며, 60%가 수익 증가를 예상하고 있습니다 최근 경제적 어려움에도 불구하고 말입니다. 이 설문조사는 연간 수익이 500만 달러 이하인 기업을 대상으로 하며, 소유자들이 장비(26%), 운영 자본(25%), 확장(24%)에 주요 투자를 계획하고 있음을 보여줍니다.
지난 2년간은 중대한 도전이 있었으며, 기업들은 인플레이션(59%), 생활비 위기(45%), 경기 침체 우려(31%)를 주된 우려로 꼽았습니다. 이에 따라 54%는 비필수 지출을 줄였고, 27%는 더 저렴한 공급자를 찾았습니다.
은행 관계에 관해서는, 53%가 대형 국가 은행을 이용하며, 29%는 지역 은행을 선호합니다. 사업자들은 주로 신용 카드(53%), 현금 흐름 관리(38%), 성장 자본(36%)에 대한 지원을 요청합니다. 이 설문조사는 사업 계획(66%) 및 대출(62%)과 같은 복잡한 서비스에 대해 대면 회의를 선호하는 경향이 있으며, 일상적인 서비스에 대해서는 유연성을 보이고 있습니다.
La nouvelle enquête de WSFS Bank auprès de 597 décideurs de petites entreprises révèle une perspective positive pour 2025, avec 60% s'attendant à une croissance des revenus malgré les récents défis économiques. L'enquête, axée sur les entreprises ayant des revenus annuels allant jusqu'à 5 millions de dollars, montre que les propriétaires prévoient des investissements clés dans l'équipement (26%), le fonds de roulement (25%) et les expansions (24%).
Les deux dernières années ont présenté des défis importants, les entreprises citant l'inflation (59%), la crise du coût de la vie (45%) et les craintes de récession (31%) comme principales préoccupations. En réponse, 54% ont réduit les dépenses non essentielles et 27% ont recherché des fournisseurs plus abordables.
En ce qui concerne les relations bancaires, 53% utilisent de grandes banques nationales, tandis que 29% préfèrent les banques régionales. Les propriétaires d'entreprises recherchent principalement de l'aide avec les cartes de crédit (53%), la gestion des flux de trésorerie (38%) et le capital de croissance (36%). L'enquête indique une préférence pour les réunions en personne pour des services complexes comme la planification d'entreprise (66%) et le prêt (62%), tout en montrant de la flexibilité pour les services courants.
Die neue Umfrage der WSFS Bank unter 597 Entscheidungsträgern kleiner Unternehmen zeigt einen positiven Ausblick für 2025, wobei 60% mit einem Umsatzwachstum rechnen, trotz der jüngsten wirtschaftlichen Herausforderungen. Die Umfrage konzentriert sich auf Unternehmen mit einem Jahresumsatz von bis zu 5 Millionen Dollar und zeigt, dass die Eigentümer wichtige Investitionen in Geräte (26%), Betriebskapital (25%) und Expansionen (24%) planen.
In den letzten zwei Jahren gab es erhebliche Herausforderungen, wobei die Unternehmen Inflation (59%), Lebenshaltungs-krise (45%) und Rezessionsängste (31%) als Hauptanliegen angeben. Als Reaktion darauf haben 54% nicht essentielle Ausgaben gekürzt und 27% suchten nach günstigeren Lieferanten.
In Bezug auf Banking-Beziehungen nutzen 53% große nationale Banken, während 29% regionale Banken bevorzugen. Unternehmer suchen hauptsächlich Hilfe mit Kreditkarten (53%), Cash-Management (38%) und Wachstumskapital (36%). Die Umfrage zeigt eine Präferenz für persönliche Meetings bei komplexen Dienstleistungen wie Unternehmensplanung (66%) und Krediten (62%), während sie bei Routineleistungen Flexibilität zeigt.
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Following Years of Challenges, Small Business Owners Project A Bright Outlook Even Amid Economic Hurdles
While respondents’ views of the past two years mainly reflect economic challenges encountered, many plan to seek financing to invest in key business needs in 2025, signaling an optimistic shift. Additionally, these owners are confident in their ability to secure that financing. The most common planned investments include purchasing equipment (
“Small businesses have demonstrated remarkable adaptability in an environment where uncertainty has become the norm,” said Candice Caruso, Senior Vice President, Chief Business Banking Officer, WSFS Bank. “Many small business owners are planning ahead and transforming their businesses by embracing technology, refining operational efficiencies, and seeking new ways to serve their customers. We are proud of the role that WSFS plays in helping to propel these investments and keeping small businesses at the heart of the communities they serve.”
Challenges Facing Small Businesses
Despite a more optimistic outlook for the future, the past two years have presented many hurdles for small business owners. For those who believe the past two years have had a negative impact on their business, the rising inflation rate (
In response to these challenges, more than half (
“As small businesses navigate an evolving economic landscape, it’s more important than ever to closely examine areas like debt management, strengthening vendor relationships, and exploring strategic financing options to fuel growth,” said Jeremy Shackleford, Senior Vice President, Director of Small Business Sales for WSFS Bank. “Additionally, businesses should continue to monitor and build their credit profiles, as well as work with trusted partners, like their banker and accountant, to identify opportunities for cost savings. By taking these steps, small businesses can not only weather current challenges but better position themselves for the future.”
Banking Expectations and Preferences
When selecting a banking partner, the majority (
When it comes to expectations from their banking partner, small business owners most frequently seek assistance with obtaining business credit cards, with over half (
About half of respondents report their banker is proactive in helping with loans and lending solutions as well as providing tools and resources (both
“The last several years have taught us to expect the unexpected. As a regional bank, we work to form strong partnerships with our small business Clients to best serve their needs with intimate knowledge of the communities where they operate and the local decision-making capabilities to help them reach their goals,” Caruso explained. “It’s key at the onset of your banking relationship to establish expectations and reevaluate those regularly. When it comes to preparing for economic headwinds and long-term planning, proactive support from a banking partner is a must.”
When it comes to meeting with their banker in person versus face to face, small business leaders are fairly split between what they prefer within specific circumstances. For example, small business owners are equally split between preferring in-person meetings (
Deep Dive: Read the full report on survey results.
Survey Methodology
The survey was conducted by market research and insights agency Opinium. The sample includes a survey of 597 small business owners/decision makers, with 351 respondents from the Mid-Atlantic and 246 from the broader
About Opinium, Inc.
Opinium is an award-winning strategic insight agency built on the belief that in a world of uncertainty and complexity, success depends on the ability to stay on pulse of what people think, feel and do. Creative and inquisitive, we are passionate about empowering our clients to make the decisions that matter. We work with organizations to define and overcome strategic challenges – helping them to get to grips with the world in which their brands operate. We use the right approach and methodology to deliver robust insights, strategic counsel and targeted recommendations that generate change and positive outcomes.
About WSFS Financial Corporation
WSFS Financial Corporation is a multibillion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally headquartered bank and trust company in the
View source version on businesswire.com: https://www.businesswire.com/news/home/20250121251376/en/
Media Contact: Andrew Davison
(215) 309-1064
adavison@wsfsbank.com
Source: WSFS Financial Corporation
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