Inflation is easing, unemployment is low and the job market is strong — and most entrepreneurs believe a recession is on the way. About 61% of small-business owners expect a recession in the year ahead, according to JPMorgan Chase’s annual Business Leaders outlook survey. About 65% of midsize business owners expect a recession in 2023. Despite expectations for a recession, the survey found business owners remain bullish about their own companies’ prospects, with 72% of small-business owners and 66% of midsize business owners optimistic about 2023. Perhaps most importantly, additional surveys show many businesses projecting higher revenue and profits — a trend that could bode well in the months to come.
Here’s how businesses feel about their revenue, profit prospects for 2023
January 18, 2023