Florida Chamber Small Business Survey Shows Improving Job Creation Outlook
Latest results from the Florida Chamber of Commerce’s Small Business Council survey show Florida’s overall business health improving and nearly 40 percent of small business owners planning to hire more employees during the next six months.
“When four out of five jobs are created by small businesses, this is excellent news,” said Tim Giuliani, Small Business Council Staff Director for the Florida Chamber. “But the fact remains that many small businesses still face economic uncertainty forcing downward pressure on their ability to create more jobs.”
While 34 percent of respondents believe their business is better off today than six months ago, 45 percent say economic uncertainty is preventing them from hiring new employees. Those economic uncertainties include:
· Access to capital,
· Government regulations,
· Health care,
· Taxes, and
· Workforce issues.
“By an overwhelming majority, Florida small businesses are worried about how government regulations, restrictions and taxes may negatively impact their ability to do business and create jobs,” Giuliani added.
FLORIDA CHAMBER SMALL BUSINESS COUNCIL SURVEY RESULTS:
· Hiring –
o 37% of employers plan to hire employees during the next six months, up 7% from July 2011
o 45% identified economic uncertainty as an obstacle preventing them from hiring new employees, while 30% say it is lack of sales keeping them from hiring
· Layoffs – Only 3% plan to lay off employees, down from 8% in July 2011.
· Better Off – 34% believe their business is better off than it was six months ago, up from 27% in July 2011.
· Worse Off – 12% believe their business is worse off today than it was six months ago, down from 20% in July.
· Economic Uncertainty: Regulations – 68% are worried or very worried that regulations, restrictions and taxes will negatively impact their ability to do business compared to 30% who are not very worried or not worried at all.
· Economic Uncertainty: Access to Capital – This remains an issue facing small business owners. Of the respondents needing financing during the last six months:
o 29% were able to obtain it, up from 24% in July, 2011 and 21% in February, 2011,
o 20% were not able to get the needed financing, down slightly from 22% in July and 25% in February 2011.
The Florida Chamber’s Small Business Council’s electronic survey was conducted March 5-23, 2012 and received 330 unique responses. The survey is conducted quarterly.