Kala Gibson: April 26, 2017

Fifth Third Urges Small Business Owners to Combine Optimism, Action for Growth

Small Business Owners Eye Policy Changes for Business Growth 

**National Small Business Week is April 30 – May 6**

Kala Gibson

Fifth Third Bank Head of Business Banking

Nearly three out of five small business owners (58 percent) are more optimistic about their future as a direct result of the 2016 presidential election. This wave of optimism is tied to expectations that the new administration will enact across-the-board changes in business policy, regulations, taxation and healthcare costs.

Despite this this wave of optimism, only 51 percent of business owners say that they regularly follow and update a business plan. In addition, only 2 percent of small business owners most often turn to free or low cost solutions offered by the Small Business Administration, and just 4 percent will most often seek advice from their banker.

When asked to identify a source of their post-election optimism, the response from small business owners overwhelmingly fell into four key areas. They cited the potential for:

  • More business-friendly policies (79%)
  • Ease on business regulations (68%)
  • Corporate tax cuts (60%)
  • Lower healthcare costs (59%)

National Small Business Week is April 30th through May 6th and Fifth Third is reaching out to small business owners to urge them to meet optimism with action to grow their business. On Wednesday, April 26th, Kala (pronounced kUH-lah) Gibson of Fifth Third Bank is available to your listeners to provide tips small business owners can use to achieve success and discuss National Small Business Week.

For more information, please visit www.53.com/business   

More About Kala Gibson:

Kala Gibson is Head of Business Banking for Fifth Third Bank. He has been in Banking for over 24 years.  Kala received his Bachelors in Business Administration from Grand Valley State University and received a Masters of Business Administration from Michigan State University graduating with honors. He is a current board member of MORTAR, an organization whose mission is to create opportunities through entrepreneurship. He is also a member of the Business Banking Executive Circle and the Consumer Bankers Association (CBA) – Small Business Committee.

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