Wells Fargo just recently release a Gallup Report that small business owners' outlook on capital expenditures is unlikely to change before the presidential election in November, given the massive uncertainties in the US economy. It also indicated that small businesses are approaching 2013 very cautiously.The survey found that while 41 percent of them are planning on making capital improvements, this level is 12 points lower than they made in the past year. One highlight is that most will investing in new equipment. Over a majority, 57 percent to be exact, stated that they will not be making new investment into their business next year.
The Gallup report said "small business owners as they consider making capital investments over the next 12 months are consistent with the overall decline in owner optimism since April. Then also seem consistent with the slowing of the overall United States economy as well as declining economic confidence and a worsening unemployment situation."
For our valued partners and resellers of our financial products this report may seem doom and gloom. However, while the decline in our client base outlook is not good, it does show that over 40 percent of our client base will be very receptive to financing offers. In addition, focus you pitch on getting new equipment to meet the majority of their needs to keep you sales pipelines full!
