>>>
>>> ATLANTA ENTREPRENEURS ARE ENTERING THE NEW YEAR WITH HIGH
HOPES.
HOPES.
HOPES. 87% SAY THEY EXPECT TO GROW
THEIR BUSINESS THIS YEAR,
DESPITE SLIDING COUGH SENSE IN
THE LOCAL AND NATIONAL
ECONOMIES.
ECONOMIES. TO TAKE A DEEPER DIVE IN IS
SMALL BUSINESS BANKING MANAGER
AT BANK OF AMERICA.
>> THANK YOU FOR HAVING ME.
HAPPY NEW YEAR.
>> SAME TO YOU.
HAPPY NEW YEAR.
IT LOOKS LIKE IT WILL BE A
POSITIVE ONE FOR ENTREPRENEURS.
>> IT WAS GREAT TO SEE
SPECIFICALLY ATLANTA
SPECIFICALLY ATLANTA ENTREPRENEURS WHEN THEY KIND OF
TOOK A 12-MONTH LOOK AT
PERFORMANCE TO SAY THAT THEY
FELT CONTINUOUS STRENGTH IN THE
ECONOMY OVERALL AND THEY
CONTINUED TO EXPECT REVENUES TO
HAVE A STEADY CLIMB.
SO SOME OF THE DRIVING FACTORS
HAD A LOT TO DO WITH EXPANDING
OF THE BUSINESS, EXPECTING
SHARP INCREASES IN REVENUE, AS
WELL OVER THE NEXT 12 MONTHS,
AND SOME REAL FOCUSES ON SOME
KEY THINGS LIKE SOCIAL MEDIA
OVER THE NEXT DEDICATED TO HELP
DRIVE THEIR BUSINESS
PERFORMANCE.
PERFORMANCE. >> ONE OF THE CONCERNS WAS A
LITTLE ABOUT THE ECONOMY, LOCAL
AND NATIONAL ECONOMIES.
SMALL BUSINESS OWNERS A LITTLE
LEERY ABOUT WHAT THEY ARE
SEEING.
SEEING.
SEEING. >> YES.
>> YES.
>> YES. >> HOW IS THAT FACTORING IN
THROUGH THE NUMBERS?
>> SURE.
>> SURE.
>> SURE. WHAT WE SAW WAS THE STUDY
SHOWED THAT OVERALL WE'RE STILL
FEELING REALLY GOOD ABOUT WHERE
SMALL BUSINESSES ARE TAKING
THEIR BUSINESS OVER THE NEXT 12
MONTHS AND EVEN THROUGHOUT THE
DECADE BUT THERE IS SOME
CAUTIOUS CONCERN AROUND THE
OVERALL ECONOMY.
OVERALL ECONOMY. YOU SAW A 9% DIP IN THE LOCAL
ECONOMY AND ABOUT A 12% OR SO
CONCERN WHEN IT COMES TO THE
NATIONAL ECONOMY FROM OUR LOCAL
BUSINESS OWNERS.
BUSINESS OWNERS. >> TRADE FAIR RIFFS, JUST
CONCERNS ABOUT HIRING?
HAVING ENOUGH PEOPLE?
>> LISTEN, WE'RE ALL ON SOME
LEVELS WE LOOK AT THE POLITICAL
CLIMATE, WE LOOK AT THE
DIFFERENT POLICIES AROUND FRADE
THROUGHOUT OUR COMMUNITY IN
GENERAL BUT IT COMES BACK TO
CONSUMER SPENDING.
CONSUMER SPENDING. CONSUMER SPENDING AND THE
STRENGTH OF THE U.S. DOLLAR
REALLY LED THE WAY AS FAR AS
FACTORS THAT IMPACTED THE
CONCERN AROUND BUSINESS AND THE
FUTURE OF OUR LOCAL ECONOMY.
>> DURING THE HOLIDAY SEASON,
THE MALLS WERE PACKND AND
CONSUMERS WERE SPENDING AND
GUNG IT IS INTERESTING THAT
SMALL BUSINESS OWNERS ARE MAYBE
TAKING A LITTLE BIT OF A
CAUTIOUS APPROACH WITH REGARDS
TO CONSUMER SPENDING.
NOT SURE IF WE'RE GOING TO KEEP
SPENDING MAYBE?
SPENDING MAYBE? >> I WAS LIKE HOW CAN WE BE OP
TIM GNEISSIC ABOUT REVENUE BUT
CONCERNED ABOUT CONSUMER
SPENDING.
SPENDING.
SPENDING. HERE IS WHAT I TOOK AWAY FROM
THE SURVEY.
THE SURVEY. 87% AS YU STATED OF BUSINESS
OWNERS ARE LOOKING TO ADVANCE
OR EXPAND THEIR BUSINESS IN
SOME WAY.
SOME WAY.
SOME WAY. SO IF YOU'RE LOOKING TO EXPAND
YOUR BUSINESS INTO A NEW
MARKET, THEN YOU MAY HAVE A
LITTLE BIT MORE CONCERN AROUND
CONSUMER SPENDING SO I THINK
THEY FEEL VERY CONFIDENT IN THE
CURRENT MARKETS THEY WILL
CONTINUE TO SEE GROWTH BUT AS
THEY GO INTO NEW MARKETS, THERE
IS SOME CAUTIOUS OPTIMISM FOR
CONSUL MER SPENDING.
>>> LOOKING AT THE DECADE NOW,
WE'RE IN 2020, THE NEXT TEN
YEARS, HOW ARE SMALL BUSINESS
OWNERS POISED TO USE SOCIAL
MEDIA?
MEDIA?
MEDIA? WHAT DID THE SURVEY SHOW?
>> WHEN YOU AND I GOT TOGETHER
IN 2019, WE SAW THERE WERE
STILL SOME OM TUNE TINS AROUND
RECREATIONAL RISK AND THEY WERE
FOCUSES ON DATA BREACHES AND
NIS SHOWS AS BUSINESS OWNERS
PREPARE FOR THIS NEW DECADE,
THEY ARE NOT ONLY THINKING
ABOUT OR EXPECTING A
SIGNIFICANT INCREASES IN
REVENUE AND REALLY FOCUSED ON
THEIR BUSINESS PERFORMANCE BUT
THEY ARE KEENLY AWARE OF MAKING
SURE NARY BUSINESS HAS A
PRESENCE, A STRONG PRESENCE ON
ALL LINES OF SOCIAL MEDIA.
WHEN YOU THINK ABOUT 30% SAY
I'M REALLY FOCUSES ON OVER THIS
NEXT DECADE TO MAKE SURE MY
BUSINESS IS PRESENT IN A STRONG
WAY AROUND ALL LINES OF SOCIAL
MEDIA AND THAT SAYS A LOT ABOUT
THE IMPACT IT HAS ON OVERALL
GROWTH.
GROWTH.
GROWTH. >> ATLANTA SMALL BUSINESSES
OWNERSND WHAT DO THEY COMPARE
WITH WHAT YOU'RE SEEING
NATIONALLY?
NATIONALLY? >> A LOT MORE OPTIMISTIC.
WHEN YOU LOOK AT THE DIFFERENCE
BETWEEN SOME OF THE THINGS THAT
WE FELT REALLY STRONGLY ABOUT
HERE IN ATLANTA, LIKE THE
OVERALL GROWTH.
OVERALL GROWTH. WHEN YOU LOOK AT THE SURVEY
DONE IN THE FALL, 93% OF OUR
ENTREPRENEURERS WERE PROJECTING
YEAR OVER YEAR GROWTH AND
REVENUE AND IF YOU LOOK AT THAT
NATIONALLY, IT WAS STILL STRONG
BUT ONLY ABOUT 80% SO YOU'RE
LOOKING AT ALMOST A 15% SWING
HERE IN ATLANTA.
>> ANY INDICATION AS TO WHY?
>> YOU KNOW WHAT?
SOME HAS TO DO WITH PROBABLY
INDUSTRIES THAT WE SERVE AND
ONCE AGAIN JUST THE GROWTH THAT
WE'RE SEEING THROUGHOUT THIS
COMMUNITY.
COMMUNITY. I WOULD ASSUME IT HAS A LOT TO
DO WITH THAT.
>> FOR FOLKS WHO ARE WATCHING
WHO ARE ASPIRING ENTREPRENEURS
AND BUSINESS OWNERS WHAT CAN
THEY TAKE AWAY FROM THIS?
ATLANTA IS A GREAT PLACE, NOT
ONLY TO RAISE A FAMILY AND BE
ACTIVELY A PART OF THE
COMMUNITY, BUT ALSO GOING OUT
ANDFIDE SOMETHING THAT YOU'RE
PASSIONATE ABOUT AND MAKE IT
YOUR OWN AND CREATE AN
OPPORTUNITY, NOT ONLY FOR
YOURSELF BUT TO ENHANCE THE
OVERALL COMMUNITY AND AS WE'RE
SEEING IN ATLANTA, WE'RE NOT
JUST HAVING LOCAL IMPACT, BUT
WORE LAUGHING NATIONAL AND
GLOBAL IMPACT.
GLOBAL IMPACT. I WOULD SAY IF YOU HAVE A GREAT
IDEA, GET OUT