Small Business Confidence Rises with 2011 Business Development Plans

How’s your economic attitude these days? For many small business owners, the economy is looking up. According to Discover®‘s Small Business WatchSM

• 25 percent of small business owners reported they will increase spending on business development in the next six months, up from 22 percent in October
• 33 percent believe the economy is getting better, up from 31 percent in October and the highest since May
• 19% of small business owners expect an increase in holiday sales, up from 11% last year

And, the subset direct-to-consumer segment of small business owners registered a confidence index of 89.6 in November, up from 83.6 in October, and 65.6 in August. According to the report, the November index for this segment is the second highest recorded since October 2007.

Did you know 22 million U.S. small business owners with less than five employees produce more than a trillion dollars in annual receipts?

The Discover Small Business Watch is a monthly index that measures the relative economic confidence of this group. The Watch is based on a national random survey of 750 small business owners.

Thanks to The Business Ledger, which is where I found this report.

The statistic that jumped out at me?

In 2011, one in four small business owners will increase their business development spending.

How do you manage and measure your business development marketing plans? Do you have to invest more to get more?

Not necessarily – it’s invest in the right payoff and get more. Sometimes it’s invest less, get more – especially if the company is currently investing in marketing that costs more money than it makes.

It’s that time of year when we’re meeting with our clients to go over 2011 business development plan results. What are we working on? Building communities that develop relationships – and business.

How does building a community network fit into your 2011 business development plans?

Image Credit: Happy businessman provided by shutterstock.com, a Wired PR Works photo supplier.