Small Business Outlook 2014

2014 SMALL BUSINESS OUTLOOK Results of the Rocket Lawyer Semi-Annual Small BusSiness Survey OPTIMISM VS. BIGGEST CONCERNS OVER 80% NEARLY 30% NEARLY 50% expect 2014 to be better than 2013 say the health and growth of the economy is a top concern cite economic uncertainty as their top concern, making it the number one impediment to growth TOP PRIORITIES FOR 2014 41% 26% 18 6% 2% Increase marketing & brand presence Raise funds to grow business Develop new products or services Hire Expand internàtionaly new employ ees AFFORDABLE CARE ACT (ACA) OUTLOOK Are SMBS enrolled or planning to enroll in the ACA in the next year or two? Why aren't Small Businesses enrolling in the ACA? Have less than 50 employees 40.2% Satisfied with curentplan 30.25% NO 45% YES 20% Don't know enough about it 15.5% Adamanty against it 8.25% NOT SURE 34% SMALL BUSINESS OPPORTUNITIES WHAT INDUSTRIES HOLD THE MOST OPPORTUNITY FOR SMALL BUSINESS? BEST CITY TO START A BUSINESS? 63% said SMALL CITIES are better for small usiness TECHNOLOGY 36% NEW YORK 8.25% CHICAGO 3.95% HEALTHCARE 27% FOOD/HOSPITALITY 9% SAN FRANCISCO 5.6% LAS VEGAS 3.7% SEATTLE 5.5% MINNEAPOLIS 3% LOS ANGELES 4.6% BOSTON 1.6% RETAIL 5% EDUCATION 5% LEGAL 3% HIRING OUTLOOK MORE THAN 35% OF SMBS SAY THEY ARE PLANNING TO HIRE IN THE NEXT 6 MONTHS WHO WILL THEY HIRE? MORE THAN 50% NEARLY 50% MORE THAN 40% 15% MM INDEPENDENT CONTRACTORS FULL-TIME EMPLOYEES PART TIME EMPLOYEES INTERNS Protect and grow your business. Vist the Rocket Lawyer Small Business Legal Center at rocketlawyer.com/center/small-business.rl ROCKETLAWYER.