BOFA's Miller Says Business Owners Are Planning For A Downturn

The video discusses the impact of the credit crunch on small businesses and their preparedness for a potential recession. It highlights the differences in banking preferences between regional banks and larger institutions like Bank of America. The video also covers how businesses are attracting clients through stability and digital tools, and outlines strategies for recession preparation, including revisiting business plans and focusing on recession-proof industries. Additionally, it addresses business confidence, concerns about inflation, and labor market strategies such as hybrid work and better benefits.

What percentage of business owners surveyed expect a recession to happen?

How are business owners preparing for a potential economic downturn?

What industries are considered more recession-proof according to the discussion?

How do business owners feel about their ability to navigate economic challenges compared to the national economy?

What are some of the concerns that business owners have according to the survey?

In what ways are business owners managing inflation?

What strategies are business owners employing to attract talent in the current labor market?