In addition to revenue, small business owners were optimistic about hiring and staffing in 2013. In a challenging job market, 31 percent of small business owners say they plan to hire within the next year, which is good news for those seeking employment. A mere 3 percent said they had plans to reduce staff numbers.

The optimism revealed in those numbers isn’t the whole story. Pragmatic concerns about the outlook of the economy are still on the minds of many business owners. More than half said they have concerns about the effectiveness of government leaders, commodities prices, health care costs, the recovery of consumer spending and the strength of the U.S. dollar.

Despite those concerns, small business owners are not considering changing career paths. On the contrary, regardless of the ups and downs of the economy and the challenges inherent to the business world, two-thirds of small business owners say they don’t regret their decision to go into business.

When it comes to keeping their own fiscal houses in order, many small business owners admit they look for outside guidance – and only 29 percent ranked themselves as “very savvy” when it comes to managing their finances. To make those critical decisions and plans, they rely on accountants, other small business owners, bankers and financial advisors.

“Small business owners are looking for expertise from their bank as well as other sources so they can make the right decisions for their business heading into 2013,” says Robb Hilson, small business executive at Bank of America.

Not only are small businesses part of the backbone of America’s economy, they’re an important indicator of its current state. The optimistic, yet practical outlook many small business owners have indicates that though the economy continues to improve, there’s still work to do.  To learn more about the Bank of America Small Business Owner Report and ways that small businesses can meet the challenges of the coming year, visit about.bankofamerica.com.