On the Horizon: Small Business Spending Predictions for 2014

One of the best indicators of how well an economy is doing is the strength of small businesses. With that standard, 2014 is looking to be a good year for the U.S. Two optimistic signs are that small businesses created 102,000 new jobs in November and 89 percent of small businesses increased their travel from fall 2012 to fall 2013.

Optimism is high for small business owners, with 37 percent declaring their coming year's business prospects as excellent and 45 percent as good. Eighty percent plan on increasing hiring in 2014 as well as increasing the number of products and services. To be smart in 2014, it's imperative to set a spending plan, create a saving plan, track and manage expenses, invest in your growth, and call on the professionals to save your energy for more important matters. Concur displays the data and presents a 5 step plan for small business success in the infographic below.