Florida Small Business Survey - 2nd Quarter, 2015

Here is an article from the Florida Chamber of Commerce with a quote from The Small Business Development Center State Director.

“Small business optimism is on the rise, yet Florida’s small businesses continue to face a number of challenges, including access to capital and business resources,” said Michael Myhre, CEO and State Director of the Florida SBDC Network. “The Florida SBDC is committed to providing our state’s small businesses with the tools and resources needed to grow and succeed and create wealth for Florida’s economy.”

Florida’s small businesses are essential to the recovery of the state’s economy. Small businesses now account for three-quarters of all new jobs in this country, and these business owners embody the spirit of innovation, entrepreneurship and individual initiative. It is critical the Florida Chamber of Commerce understands what issues are most important to small businesses.

The Small Business Index Survey tracks trends and issues affecting small businesses in Florida. Small business owners are surveyed quarterly in order to monitor small business trends and identify emerging issues that may be addressed by the Florida Chamber’s Small Business Council.

2015 Quarter 2 Survey Results

Conducted: May 4 – 22, 2015
Responses: 204

Florida Small Business Index: 2015 Quarter 2 Results (PDF Document)

With Florida’s economic recovery continuing to outpace the nation, small businesses continue to lead the way. According to the Florida Chamber’s Small Business Index Survey, released at the 2015 Annual Florida SBDC Network Conference in Miami, small businesses are reporting higher company sales, improved economic outlook, and an increased willingness to hire new employees.

The survey, conducted in conjunction with the Florida SBDC Network, shows 55 percent of small businesses reporting higher company sales compared to last quarter.

Top Issues Facing Small Businesses:

• Economic Uncertainty (24 percent),
• Workforce quality (15 percent),
• Government Regulations (12 percent),
• Access to Capital (10 percent) and
• Growth Management Processes (10 percent)

Notably, access to capital has dropped from tying as the single biggest issue from more than a year ago, to the fourth overall issue during the latest survey.

Sales Increased:

•  62 percent of businesses surveyed reported higher company sales compared to the same time period last year, with only 14 percent of businesses reporting lower sales.

Optimism Increased:

• 78 percent of respondents expect the economy to improve in the next 12 months, with 18 percent expecting the economy to “improve significantly,” more than double the amount from the Florida Chamber Q2 2014 survey. Additionally, 57 percent of businesses responded that their business is better off than six months ago.