Small Business Economic Outlook Mixed

The overall economic outlook among small-and medium-sized businesses is mixed, according to the latest Office Depot Small Business Index.

Only about half of the respondents in the survey anticipate that the overall economy will improve, with most forecasting an inflationary environment and rising interest rates.

In fact, only half (51 percent) of the small businesses who have recently applied for financing for their business indicated that their bank loan was approved. However, slightly more small businesses (65 percent) indicate that they expect both their company’s sales and profits to increase in the next six months.

Additionally, the survey revealed that most small businesses (particularly companies with 20 to 99 employees) find the idea of having access to an expert providing tips on how to “better organize and file” appealing, as 70 percent of respondents wish that their current workspace was more organized.

“The result of this survey shows that Office Depot has a real opportunity to help small businesses become more organized and efficient in the New Year, as this is a key issue that currently hinders them from focusing on their core business,” said Neil Austrian, Interim Chairman and CEO for Office Depot.