Pulse of the SMB community: optimism prevails

PULSE OF THE SMALL & MEDIUM BUSINESS COMMUNITY OPTIMISM PREVAILS 56% of small business owners surveyed by Rocket Lawyer expect 2013 to be a better year than 2012, said that business is booming or that they are currently growing and meeting expectations. However, 65% are not planning to hire in the next six months. NEW BOOMERS MILLENNIALS are THRIVING economically 72% 42% HELP WANTED of millennials are planning to hire in the next six months – more than any other age group. of millennial small business owners said business grew or was booming in 2012. ECONOMY PRESIDENTIAL PRIORITY НОPES TOP FEAR 53% INCREASED TAXES 53% Economy 17% National Debt 8% Tax Reform 6% Healthcare of SMBS sald the President's top priority should be the economy. 27% of SMBS sald an economic recovery was their top hope for the second term. 47% of business owners would not be willing to pay higher taxes to reduce the federal deficit, 6% Education LEGAL PROBLEMS ISSUES CONCERNS contract negotiations 27% The biggest legal concern is stil| complance with government regulations. other 23% 15% failure to collect corporate 8% compliance 55% of small businesses 17% said their 10% 13% payments faced a legal problem in 2012, up from 52% in 2011. inc. biggest legal wony was choosing the right business structure and employment real estate transactions incorporating properly. WHO'S SEEKING COUNSEL? Gender gap: 56% of men have consulted with an attomey compared to 50% of women. 47% of small businesses have never consulted with an attorney. Protect and grow your business. Vist the Rocket Lawyer Small Business Legal Center at rocketlawyer.com/center/small-business.rl ROCKETLAVWYER. ()