Small Business Owners More Confident Making DC Office Space Ideal
January 30, 2015 by Mike Certoma
Are you thinking of starting or moving your small business? If so, here’s why you should be looking at office rental space in Washington DC:
Small Businesses Are More Confident in the Washington DC Area
A survey released by the Bank of America in the fall of 2014 revealed that Greater Washington small business owners (SBOs) are becoming more confident about their prospects. Turns out, 73% of these DC SBOs expect their revenue to increase this year. That’s a significant increase from 2013’s 58%.
This year’s DC confidence level is also higher than those of most other metro areas. For example, only 60% of New York SBOs believe their revenue will increase in the next year. Only 56% of local SBOs think the same in Boston and 57% in LA.
Better Business Confidence Means Positive Market Conditions
Business optimism depends on both present and expected market patterns. When SBOs are confident, it means positive things are going on in the local economy. A number of factors can contribute to this optimism.
Take improved employment, for instance. Last year was an overall good year for labor in the Metro DC area. The district’s unemployment rate was down to 7.4% as of last November. The employment scene is looking so good that 51% of DC SBOs said they’re planning to hire more employees this year. That’s 9% up from 2013’s figures.
Increased business confidence also helps to boost investment. This is because investors will not put their money into a business whose future looks unprofitable and dismal.
This positive outlook is also likely to strengthen consumer confidence. The greater the consumer confidence, the greater the consumption and demand. If all goes well, this means more business for SBOs.
Put simply, if you’re a small business owner, better settle in a place where business confidence is trending upward, like Washington DC. We have the right office space for you.
We have office spaces in nine convenient locations in the Metro DC area. These are all fully furnished, with access to meeting rooms, videoconferencing facilities, telecom connectivity, and more. There’s no better way to enjoy DC’s burgeoning seller confidence than having an office at the very heart of its business region.
Need help finding an office space for rent in Washington DC? We can help. Call us at (877) 697-7005 today.