In a survey of Florida’s small businesses conducted June 4-June 22, 2012, the Florida Chamber of Commerce found that economic uncertainty is the leading obstacle preventing small businesses from growing.
Nearly 60% of the survey’s 807 respondents identified either economic uncertainty (33%) or access to capital (26%) as their top issue. The majority of respondents are “somewhat worried” or “very worried” that regulations, restrictions, and taxes will negatively impact their ability to do business.
(To address concerns about access to capital, the Lakeland Area Chamber of Commerce is hosting a Lunch and Learn workshop with Charles Long, Area Manager with the Small Business Administration on August 7. Take advantage of this opportunity to learn more about SBA programs and the role of the SBA in lending to small businesses.)
Highlights of the results include hiring expectations and overall business health:
- 31% of employers plan to hire employees during the next six months, while only 4% plan to lay off employees.
- 41% percent of respondents identified economic uncertainty as an obstacle preventing them from hiring new employees, while 37% say it is lack of sales keeping them from hiring.
- 31% of respondents believe their business is better off than it was six months ago, up from 27% in July 2011. Comparatively, 19% believe their business is worse off today than it was six months ago.
The answers to this quarterly survey help to guide the Florida Chamber’s Small Business Council efforts. To get involved and include your voice, click here.