8 out of 10 companies expect higher holiday sales
ATLANTA (Aug. 19, 2013) — A recent survey by Kabbage Inc., an online provider of working capital, showed that 8 out of 10 of its customers are overwhelmingly optimistic for the upcoming 2013 holiday season, with 41 percent of businesses expecting a much stronger holiday season in 2013 than 2012. Small businesses also plan to increase their borrowing for the remainder of 2013 in order to meet the robust demand.
Other key findings from the survey include:
♦ 65 percent of companies expect to borrow more working capital in 2013 vs. 2012. Of those, 64 percent plan to borrow more based on expectations of stronger sales, while 20 percent plan to borrow more because they are more optimistic about the economy.
♦ The top 4 sources of working capital for small businesses are credit cards, online cash advance sites, banks, and friends & family.
♦ Q4 remains the busiest time for small businesses. 44 percent report that October through December is their busiest selling season, while 38 percent report consistent sales throughout the year.
“We are proud that the majority of our customers are enjoying healthy growth in 2013 and are investing now to gear up for a strong holiday selling season,” said Rob Frohwein, co-founder and CEO of Kabbage.
The survey was conducted in July 2013 of Kabbage customers. More than 200 customers responded to the survey.