Release Date: August 5, 2021
Study: 87% of Small to Medium Business Owners Optimistic About Q4
—Small to Medium Business Survey Data Released by First National Bank of Omaha—
PLUS: 21% Say Remote Work Will Continue Indefinitely
OMAHA, Neb. August 5, 2021—First National Bank of Omaha (FNBO) today released the results of its ‘Small to Medium Business Survey,’ which examines the effects of the pandemic on small to mid-sized businesses and their priorities for the year ahead, covering topics from transitioning back from remote work, employment and financial outlooks, to planning for the future.
While 41% of small to medium business owners had to close their businesses temporarily or almost permanently during the peak of the pandemic according to the survey, 87% are now feeling optimistic about their businesses for Q4.
When asked about in-person events, 25% of businesses report they have already resumed in-person events and 22% report they expect to be hosting events at full capacity by this fall.
“The challenges brought on by the pandemic hit small to medium businesses throughout our nation especially hard. As evidenced by our survey data, however, these businesses are incredibly resilient and are working tirelessly to adapt to this new era of re-opening,” said David Cota, executive vice president, Business Customer Segment, FNBO.
Among the survey’s additional findings:
“While it is wonderful to see so many business owners report that they feel optimistic about this next quarter, it’s important to plan ahead for how new COVID-19 variants may potentially impact the economy. We are confident these businesses will continue to be creative and resourceful, but encourage them to prioritize safeguarding their financial security to help navigate new challenges,” added Cota.
This is the latest survey in FNBO’s ongoing Financial Planning survey series.
This survey was conducted online using Survey Monkey among a national sample of 1,009 small to medium business owners spanning U.S. geographic regions and income levels. Nearly 60% of FNBO’s survey respondents said they were local businesses employing 10 or less employees. The survey sample was weighted to reflect the gender distribution and the age distribution across the 18-44 and 45+ age brackets in U.S. census data. This survey was conducted in July 2021.
ABOUT FIRST NATIONAL BANK OF OMAHA
First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska and its affiliates have more than $24 billion in assets and nearly 5,000 employee associates. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas. Learn more at fnbo.com and connect with us on Facebook, Twitter and Instagram.
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