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Small business owners in the U.S. are concerned about the impact of a recession, but the majority remain confident that their businesses can withstand the downturn, according to the recent Bank of America 2023 Small Business Owner Report. The survey, which gathered insights from more than 1,000 business owners across the country, also found that many are optimistic about revenue growth in the next 12 months despite inflation and supply chain issues. The report also reveals that small business owners are implementing strategies to retain and attract talent and are exploring tools like artificial intelligence to gain a competitive edge.
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By Rebecca Meiser
Contributor, Commerce + Communities Today and Small Business Center
ICSC champions small and emerging businesses in getting from business plan to brick-and-mortar.
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