Sharon Miller, President of Business Banking at Bank of America, talks about US business owners' optimistic growth outlook and challenges, while Bloomberg News covers GM's digital revenue strategy. Explore diversity in business ownership and GM's shift to Ultify for car tech control. Dive into Apple's influence on vehicle interfaces, GM's unique software development, and the challenges faced by automakers.
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Quick takeaways
65% of business owners expect revenue growth, showcasing overall optimism.
Mid-size businesses in $20-$50 million range expect revenue increase, indicating positive trend.
Deep dives
Optimism Among Small Business Owners
65% of surveyed business owners expect their revenues to increase in the next 12 months, showing an overall optimistic tone within the small business community. Despite concerns like inflation and geopolitics, small business owners remain confident in their ability to control and navigate their businesses, showcasing a positive outlook for the future.
Access to Capital For Mid-Size Businesses
Mid-size businesses in the range of $20 to $50 million revenue are particularly optimistic, with over 80% expecting their revenue to increase in the next 12 months. These businesses are also looking to access capital, reflecting a positive trend in the mid-size business segment.
Optimism in Business Expansion
Business owners are showing readiness to expand or acquire, indicating a sense of confidence and preparedness within the business landscape. Despite political and economic uncertainties, the survey results and client feedback suggest a strong tone of optimism among business owners, driving potential activities and growth opportunities.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Sharon Miller, President of Business Banking at Bank of America, discusses the results of the firm's annual Business Owner Report. Bloomberg News Technology Reporter Austin Carr provides the details of his Businessweek Magazine story GM Eyes Billions in Digital Revenue With CarPlay Alternative. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.