Here’s a highlight of some of the top local-business-related news of the week:
[Economy News] Small Businesses Optimism Hits a 5-Year High
News Source: Fox News
The latest Wells Fargo / Gallup Small Business Index, which calibrates the overall outlook for small businesses in the US, has hit its highest level since 2008, indicating a renewed sense of optimism from small business owners.
The poll revealed an uptick in small businesses reporting a strong cash flow for Q1 and higher revenue projections for the next quarter after a consistent string of quarters with declining economic performance and stability.
Key Takeaway: Although the overall economy is still facing a variety of issues, the small business sector appears to be in a more stable economic state than it has in months past—a great reason to be optimistic about the future.
[Social Media News] 53% of Facebook’s Ad Revenue Now Comes from Mobile
News Source: TechCrunch
This week, Facebook announced that it earned 53% of its ad revenue from mobile ($1.37 billion of its $2.59 billion revenue) in Q4 of 2013. This surge in mobile ad revenue falls in line with Facebook’s growing mobile user base, which hit 945 million monthly active users in Q4.
Facebook’s mobile app install ads and mobile app reengagement ads have also contributed to increased earnings, allowing advertisers to reach users within mobile apps or driving them back to mobile apps they haven’t opened in awhile.
Key Takeaway: Facebook has often been accused of being late to the mobile game, but they appear to be making up for lost time and seeing a big returns for their efforts. The same goes for small businesses: If you haven’t already invested in a mobile presence for your business, now’s the time to do so!
[Restaurant News] Fast Casual and Fine Dining Led the Way in Revenue Growth for 2013
News Source: Nation’s Restaurant News
A new report from The NPD Group released this week showed strong year-over-year growth for the fast-casual restaurant market sector in 2013, with an 8% increase in customer visits over a 12 month period.
The fine dining market also saw a 6% increase in traffic, while casual dining, midscale, and quick service restaurants saw flat or decreased visits during the same time period.
The data suggests that growth was fueled in great part by franchise expansions.
Key Takeaway: Diners are more and more frequently spending their dollars at fast-casual and fine dining establishments. For small businesses in these market segments, now is the time to capitalize on increased consumer interest by making sure your business information is easy for local searchers to find across the web.
Other news catch your eye this week? Leave a comment and let us know!