Bank of America Small Business Owner Report: Los Angeles Local Breakdown

Bank of America Small Business Owner Report: Los Angeles Bank of America's Small Business Owner Report is a semi-annual study exploring the concerns, aspirations and perspectives of small business owners across the country. The spring 2013 Report surveyed a national representative sample of 1,000 small business owners in the United States with annual revenue between $100,000 and $4,999,999 and employing between 2 and 99 employees. Los Angeles Small Business Owners (SBOS) feel healthier as a result of owning a small business 50% of SBOS rate their health better as a result of running their small business As the result of running their small business, 39% of SBOS said they actually exercise more 30% of SB0S eat more healthily While 64% of SBOS feel that they manage the stress associated with owning a small business well, there are still a number of sources of stress for small business owners Despite feeling healthier, small business owners cite achieving a work-life balance as their top source of stress 56% On average, 566% of Los Angeles SBOS work more than 40 hours a week In the past year, 44% of Los Angeles SBOS went to work while sick SBOS not only look after their health, but contribute to the health and happiness of their employees through innovative solutions Los Angeles small business owners provide employees: 48% 43% 28% 26% Health/wellness Additional amenities, such as healthy snacks, free lunches, massages Discounted services and/or goods Flexible hours/work from home options benefits 25% 20% 20% 14% On premise day care/allow children to Schedule time for Allow use of social Team building activities, such as volunteering and community service media during work hours sports teams or come in excursions SBOS in Los Angeles feel optimistic about the health of their business moving forward but cautious about the forecast for the national economy 94% of small business owners expect revenue to either increase or stay the same in the next year $ $ $ 92% of small business owners expect to hire more employees or retain the same number of employees in the next year When asked what are the leading concerns for the success of small businesses, Los Angeles SBOS said: 75% 67% 64% 63% Health care benefits/costs Recovery of consumer spending Consumer confidence Taxes 63% 62% 62% 58% Strength of the U.S. dollar Commodities prices Credit availability Effectiveness of government leaders SBOS in Los Angeles are prepared for the unexpected, including natural disasters, staff reductions and medical emergencies and recognize the impact an unforeseen event could have on their business On average, owners in Los Angeles feel their business could last five months if a significant disruption were to occur before needed financial assistance National average: 5 months Only 34% of Los Angeles small business owners have been impacted by a significant disruption, but 61% have a plan in place to handle a possible incident For more information, visit Bankof America about.bankofamerica.com Bank of America Small Business Owner Report: Los Angeles Bank of America's Small Business Owner Report is a semi-annual study exploring the concerns, aspirations and perspectives of small business owners across the country. The spring 2013 Report surveyed a national representative sample of 1,000 small business owners in the United States with annual revenue between $100,000 and $4,999,999 and employing between 2 and 99 employees. Los Angeles Small Business Owners (SBOS) feel healthier as a result of owning a small business 50% of SBOS rate their health better as a result of running their small business As the result of running their small business, 39% of SBOS said they actually exercise more 30% of SB0S eat more healthily While 64% of SBOS feel that they manage the stress associated with owning a small business well, there are still a number of sources of stress for small business owners Despite feeling healthier, small business owners cite achieving a work-life balance as their top source of stress 56% On average, 566% of Los Angeles SBOS work more than 40 hours a week In the past year, 44% of Los Angeles SBOS went to work while sick SBOS not only look after their health, but contribute to the health and happiness of their employees through innovative solutions Los Angeles small business owners provide employees: 48% 43% 28% 26% Health/wellness Additional amenities, such as healthy snacks, free lunches, massages Discounted services and/or goods Flexible hours/work from home options benefits 25% 20% 20% 14% On premise day care/allow children to Schedule time for Allow use of social Team building activities, such as volunteering and community service media during work hours sports teams or come in excursions SBOS in Los Angeles feel optimistic about the health of their business moving forward but cautious about the forecast for the national economy 94% of small business owners expect revenue to either increase or stay the same in the next year $ $ $ 92% of small business owners expect to hire more employees or retain the same number of employees in the next year When asked what are the leading concerns for the success of small businesses, Los Angeles SBOS said: 75% 67% 64% 63% Health care benefits/costs Recovery of consumer spending Consumer confidence Taxes 63% 62% 62% 58% Strength of the U.S. dollar Commodities prices Credit availability Effectiveness of government leaders SBOS in Los Angeles are prepared for the unexpected, including natural disasters, staff reductions and medical emergencies and recognize the impact an unforeseen event could have on their business On average, owners in Los Angeles feel their business could last five months if a significant disruption were to occur before needed financial assistance National average: 5 months Only 34% of Los Angeles small business owners have been impacted by a significant disruption, but 61% have a plan in place to handle a possible incident For more information, visit Bankof America about.bankofamerica.com