Introducing the Bank of the West Small Business Growthindex

Introducing the Bank of the West Small Business GrowthIndex

Bank of the West introduces the inaugural Bank of the West Small Business Growth Index to track ongoingmovement of small business expansion in the United States.An extension of the company's annual Small Business Survey series launched in 2012, the Index serves to quantify the financial health and identify key trends of the U.S. small business sector year-over-year.

After surveyingsmall business ownersnationwide, the Indexmeasured five key indicators of small business expansion over the past 12 months:profitability, revenue, sales, investments, and cutbacks.The aggregate score of these five metrics reflects the overall growth of the small business sector. On the scale of 0-100,less than 50 signals declineand greater than 50 indicates growth.

This year, theIndex score of 54indicates that over the past 12 months,the small business sector saw a solidgrowth driven by consistent or improvedcompany financials,as well as investments back into the business.

By the Numbers: Profitability, Revenue and Sales

For the profitability, revenue, and sales indicators, roughly twice as many small businesses saw growth than loss over the past 12 months.

• Forty-one percent of small businessesreportedgrowth in profits(averaging an increase of 25%) compared to just 24 percent who reported a loss. The remainder (36%) maintained a consistent level of profit.

• Revenue performed in line with profitability, with 39 percent of small businesses reporting growth. On average, businesses that grew their revenues saw an increase of 24 percent. On the loss side, 22 percent saw a decrease in revenues.

• Sales performed similarly, with 39 percent reporting growth (an average of 25%increase) versus 21 percent who saw a decline.

By the Numbers: Investments & Cutbacks

For the past 12 months, small businesses not only made investments in their future growth, they evaluated areas for cutbacks.

• Small businesses’ top areas for investments included: developing new product or service offerings (35 %), increasing marketingspend (28%), and hiring new staff (24%).

• Only around a third (37%)of small businessesreported making cutbacks in the past 12 months, with reducing employees’ hours (12%) and ending some product offerings (12%) as the most common cutbacks.

About Harris Poll:

Over the last 5 decades, Harris Polls have become media staples. With comprehensive experience and precise technique in public opinion polling, along with a proven track record of uncovering consumers’ motivations and behaviors, Harris Poll has gained strong brand recognition around the world.

About Bank of the West:

Bank of the West is a regional financial services company chartered in California and headquartered in San Francisco with $72.5 billion in assets as of June 30, 2015. Founded in 1874, Bank of the West provides a wide range of personal, commercial, wealth management and international banking services through more than 600 offices in 22 states and digital channels. Bank of the West is a subsidiary of BNP Paribas, which has a presence in 75 countries with 185,000 employees.

Media Contacts:
Ayele Ajavon
415-432-3501
/ Julia B. Mellon
212-584-5474

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