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2016 San Antonio Small Business Outlook

  • 18 December 2015
  • Author: Cari Holbrook
  • Number of views: 3023
2016 San Antonio Small Business Outlook

Job creation remains strong, unemployment is at a historic low, and the city continues to grow. This glowing report from the San Antonio Hispanic Chamber of Commerce’s 2015 Economic Outlook Breakfast still holds true for 2016. Richard W. Fisher, former president of the Dallas Federal Reserve Branch agrees, recently stating that “the majority of the job growth in [Texas] has taken place in three metropolitan areas, Dallas has half of it and the rest is split between Austin and San Antonio—San Antonio is doing well.”

Do you agree? What is your own outlook? We asked a handful of small business owners throughout San Antonio what their own outlooks are for 2016. These business owners represent professional services, manufacturing and retail businesses. While not a scientific survey by any means, the responses we gathered, offer unique insight into the pulse of small businesses in San Antonio for the upcoming year. The overall tone, we’re happy to report, is overwhelmingly positive.

In 2015:

  • 25 percent of the respondents had their best year yet.
  • 64 percent did well.
  • 11 percent said their businesses suffered.

Feedback from our respondents mentioned both the ups and the downs of business ownership, even for those who did well or had the best year yet.

“We have had a tremendously busy year,” a construction industry contractor responded. “We slowed a little after the summer and now have picked up more work than we might be able to do! We did well in the sense that we helped to employ so many individuals. [However, we] can't seem to build a savings…too many bills, problems and employee issues.”

Another professional services business owner who did well explains, “I definitely cleared my office expenses but I draw almost all of my earned money out to pay for my personal bills, leaving little money left for re-investment or marketing the company.”

For 2016:

  • 70 percent predict their businesses will do better than in 2015.
  • 9 percent predict they’ll be worse off.
  • 21 percent expect to remain about the same.

“We will be starting the year with at least one large contract…the goal has to be [more profitability]. I will be looking to Steven Bankler to assist with some restructuring to help out,” adds the contractor, who expects more business in 2016.

In addition, the professional services business owner we quoted above predicts a continued upswing for 2016 as well, with a better handle on putting revenue back in the company.

“Now that my business is legally formed and has certifications,” he explains. “I won't have to spend time with so much paperwork and can put more time to marketing.”

There seem to be plenty of opportunities ahead for small businesses in 2016. Perhaps it’s time to restructure or learn more about other tax-savings opportunities that could make a potentially good year even better? For a closer look at these options, contact us.

Image Copyright: fintastique / 123RF Stock Photo

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