Mid-sized businesses are planning to expand in 2021

The Story: A recent national Business Resilience survey from Umpqua Bank tracked confidence in 1,200 small and mid-size businesses across the United States. Their research revealed a cautious but pervasive optimism, with 66% expecting revenue to remain stable or increase, and a sizable majority planning to expand in the next 12 months.

The Takeaway: As the lifeblood of the economy, small and mid-size businesses will be key to recovery and to a brighter future ahead. By supporting these economic engines, community banks and credit unions can deliver on their purpose and grow their assets – with a focus on serving small business needs.

Source: Novantas, December 2020