Study: Indy Small Businesses More Positive for 2021
(photo courtesy of SmartAsset)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Indianapolis-Carmel-Anderson metro area is included in SmartAsset’s top 10 places where small business sentiment is more positive ahead of 2021. The financial planning website analyzed the 50 largest metro areas in the country from the U.S. Census Bureau’s Small Business Pulse Survey.
The study compared the areas across four main metrics, including percentage of small businesses that are operating at normal levels, percentage of small businesses that do not expect a return to normal levels of operations within six months or ever, percentage of small businesses looking to hire new employees and percentage of small businesses with three or more months of cash on hand.
The Indianapolis-Carmel-Anderson metro area ranks No. 9 on the list. The Cincinnati metro area, which includes parts of Ohio, Kentucky and Indiana, tied for No. 11 along with the Sacramento-Roseville-Folsom, California, and St, Louis, Missouri metro areas.
The Indianapolis metro area ranks third in terms of its percentage of small businesses operating at normal levels, at 35.3%. It also places sixth-lowest for the percentage of small businesses that don’t expect a return to normal levels of operation within six months or ever, at 46.3%. Indianapolis does not perform as well in terms of the percentage of small businesses with at least three months of cash on hand, finishing in the bottom half of the study at 25.9%.
According to the study, three of the top 10 metro areas where small business sentiment is more positive heading into 2021 are at least partially located in North Carolina. Salt Lake City, Utah and Birmingham-Hoover, Alabama took the No. 2 and No. 3 spots, respectively.
You can connect to the full list and methodology by clicking here.