For our December 2013 question of the month, we asked about your business performance predictions for 2014, and the results show a definite sign of optimism for the new year.
According to the results, 50% of respondents say they expect to see exponential growth and 43% believe their business volume will be steady, but unchanged from 2013. However, the most telling sign of what many businesses expect in 2014 is the fact that only 7% of respondents say they will see a decrease in business activity.
To add further optimism about the state of the economy in 2014, at the end of 2012 we asked our readers about their business performance predications for 2013, and only 31% of respondents said they expected to see exponential growth in 2013, while slightly more than 25% said they would experience a decrease in business volume. So year over year, businesses in general seem to be anticipating a fairly productive and successful 2014, which is supported by many key economic indicators, like historic highs in the U.S. stock market, increasing – albeit slowly – housing starts in both the U.S. and Canada, and a rebounding consumer confidence index.
However, the general optimism about 2014 still comes with its fair share of challenges that could derail forward momentum. For example, weak GDP components like exports and investment in Canada and of course, the impact of the new health care reforms in the U.S.
What do you think will be the key challenges to the economy in 2014? Is your business prepared to respond to them? Let us know in the comments section below.
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