Small Businesses Gearing Up for a Strong Holiday Shopping Season (Infographic)
For many small-business owners, the holiday sales season can make or break the year. This year, businesses seem to have faith that Old St. Nick is going to deliver.
Eight out of 10 small-business owners surveyed in a recent poll by financing firm Kabbage say they are optimistic about the upcoming holiday-shopping season, the months of October, November and December. What's more, half of those survey respondents say they are expecting a “much stronger” holiday-shopping season in 2013 than they saw in 2012.
If holiday sales pan out as those owners expect, it will be a bow on top of what has already been a stronger sales year overall. Seventy-six percent of respondents say that they have clocked more sales in the first six months of 2013 than they had by this time last year.
To get ready for the holiday rush, small-business owners are going to need access to capital to staff up and stock inventory. Of the 65 percent of respondents who plan to borrow more money in 2013 than they did last year, two-thirds say they need more cash to ramp up for stronger sales.
Check out the infographic, below, for additional data from the survey on small-business owner sentiment approaching the holiday shopping season.
Catherine Clifford is senior entrepreneurship writer at CNBC. She was formerly a senior writer at Entrepreneur.com, the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Clifford attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. You can follow her on Twitter at @CatClifford.