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Bank of America Releases the 2024 Women and Minority Business Owner Spotlight
Bank of America recently released the 2024 Women and Minority Business Owner Spotlight, featuring the latest viewpoints, aspirations and concerns from women, Hispanic-Latino, Black/African American and Asian American and Pacific Islander (AAPI) business owners.
The report found that most U.S. business owners with revenues up to $50 million are bullish about the coming year, anticipating growth for their businesses despite economic challenges. 78% of entrepreneurs expect their revenue to increase in the year ahead, while 63% plan to expand their businesses. Additionally, business owners are cautiously confident that the local, national and global economies will improve over the next 12 months. However, inflation and supply chain issues continue to impact most business owners, causing many to adjust their business plans.
