DataSnapshot: Promising profits

Small businesses nationwide are experiencing something of a sales dip over the past three years, but there is good news, according to a new report from Sageworks: Profitability, for the most part, is on the rise.

Across all sectors, the average sales growth for small businesses, less than $5 million in total annual revenue, is at 6.1% in 2017 — down from 6.9% in 2016 and 7.8% in 2015, the report shows. At the same time, net profit margin in the same group has increased five straight years, from 5.8% in 2013 to 8.4% last year.

Raleigh, N.C.-based Sageworks collects and aggregates financial statements for private companies from accounting firms, banks and credit unions. The data for this report are for a 12-month period ending in October, according to a statement.