Bank of America Corp (NYSE:BAC): Key Findings from Small Business Owner Report


Dallas, Texas 05/014/2014 (FINANCIALSTRENDS) –Bank of America Corp (NYSE:BAC) today released its “Small Business Owner Report” in alignment with the National Small Business Week. Braun Research conducted the survey by phone for this report, on behalf of Bank of America, between March 4 and March 31, 2014. The report is a semi-annual study which explores small business owners’aspirations, concerns and perspectives, across the country.

Key Highlights:

The Small Business Owner Report from Bank of America Corp (NYSE:BAC) revealed that female small business owners are more optimistic than their male counterparts about the growth prospects. This was supported by some interesting analysis suggesting 56% of women as compared to 50% of men business owners are of opinion to hire more employees by the nextyear; 68% of women as compared to 63% of men business owners are planning business growthover the next five years; and 70% of women as compared to 66% of men business owners are expecting the revenue growth over the next 12 months.

In addition, The “Small Business Owner Report” also inquired about retirement and succession plans and found out 71% of business owners over age of 56 years plan to retire post-65, or until they are physically unable to work as compared to only 31% and 44% of business owners in age group of 19-35 and 36-55, respectively, plan to work that long.

Commitment to Small Businesses:

Bank of America Corp (NYSE:BAC) operates through a nationwide network of banking centers as well as professional that are committed to nearly 3 million of its small business clients. The bank offers its expertise at local level, making it more accessible to small business through personal connection of client managers, practice solutions specialists and small business bankers. The bank offers convenient interactions, credit and cash management solutions along its comprehensive banking services to help small business owners succeed in their businesses.

Stock Update:

Yesterday, the stock closed at $15.03, losing 0.27% from its previous close.

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