{"id":61086,"date":"2022-11-15T07:31:00","date_gmt":"2022-11-15T13:31:00","guid":{"rendered":"https:\/\/resource-center.hrblock.com\/?post_type=newsroom&p=61086"},"modified":"2023-02-28T14:01:13","modified_gmt":"2023-02-28T20:01:13","slug":"optimism-among-new-small-business-owners-increases-despite-recession-fears","status":"publish","type":"newsroom","link":"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/newsroom\/small-business\/optimism-among-new-small-business-owners-increases-despite-recession-fears\/","title":{"rendered":"Despite Fears of Recession, Optimism Across New Small Business Owners Increases, According to Newest Block Advisors\u2019 \u201cSmall Business Resilience Series\u201d Survey"},"content":{"rendered":"\n

Block Advisors is here to assist these entrepreneurs who, according to the survey, are adjusting business strategies<\/em><\/p>\n\n\n\n

In recognition of National Entrepreneurship Day, Block Advisors<\/a>, part of H&R Block<\/a> (NYSE: HRB), is sharing new survey data from its \u201cSmall Business Resilience Series.\u201d The latest survey reveals small business owners\u2019 attitudes toward the state of their businesses in today\u2019s economic climate.<\/p>\n\n\n\n

According to the survey, two in three small business owners report feeling the threat of an impending recession, including first time small business owners who make up 72% of respondents. Despite those looming concerns, 65% of those operating for fewer than two years still feel optimistic about their businesses\u2019 financial futures. This is a jump of seven percentage points from 2021 \u2013 likely due to changes small business owners are making, given nearly 60% of small business owners say they\u2019re conducting business differently to keep pace with new and ongoing challenges.<\/p>\n\n\n\n

\u201cThe pandemic posed challenges to America\u2019s entrepreneurs, but also spurred a once-in-a-generation surge in new business practices and formats, giving small business owners confidence about weathering economic storms,\u201d said Jamil Khan, Chief Strategy and Small Business Officer at H&R Block. \u201cWe\u2019re excited by the innovation our small business certified tax pros are seeing. Whether they are trying to form or operate their first business, or have established several businesses, Block Advisors is well-equipped to advise small business owners through every step of their journey \u2013 ranging from business growth strategies, to making the most of write-offs, to better positioning themselves in an uncertain economic environment.\u201d<\/p>\n\n\n\n

Block Advisors recently launched its online business formation tool<\/a> to streamline the complicated process of registering a business entity, which could be the first step in taking a small business to the next level, according to Khan.<\/p>\n\n\n\n

There are several recommendations Block Advisors has for small businesses to set themselves up for success in any economic climate and help put every dollar in their pockets, which include:<\/p>\n\n\n\n