Earlier this year, the Florida Chamber of Commerce conducted a survey of Florida’s small businesses, thank in part to many Lakeland Chamber members. The information that was provided will guide the Florida Chamber as they work to track the trends and issues affecting small businesses in Florida that may be addressed by the Florida Chamber’s Small Business Council.
The responses indicated:
The top issues facing Florida’s small businesses continue to include economic uncertainty, access to capital, government regulations, health care, taxes and workforce issues. The majority of respondents – 68%– are somewhat 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 at all worried.
Positive highlights of the results include hiring expectations and overall business health:
- 37% of employers plan to hire employees during the next six months, up sharply from7% in July 2011, while only 3% plan to lay off employees, down from 8% in July 2011.
- 45% percent of respondents identified economic uncertainty as an obstacle preventing them from hiring new employees, while 30% say it is lack of sales keeping them from hiring.
- 34% of respondents believe their business is better off than it was six months ago, up from 27% in July 2011. Comparatively, 12% believe their business is worse off today than it was six months ago, down from 20% in July.
Access to capital remains an issue that small business owners are facing. Of the respondents that needed financing during the last six months, 29% were able to obtain it, up from 24% in July and 21% in February of 2011. 20% were not able to get the needed financing, down slightly from 22% in July and 25% in February 2011. However, small businesses continue to expect it to be difficult to get financing, with 39% responding that it will be harder to obtain financing in the next six months, compared to 14% who believe it will be easier.
The survey was conducted March 5-March 23 and received 330 unique responses.
The Florida Chamber’s Small Business Council is comprised of small business members united to be the voice of small businesses in securing Florida’s future. Participants meet with legislators, contact media and come to Tallahassee to testify before the state House and Senate on issues important to small businesses. If you are interested in adding your voice to the Florida Chamber’s Small Business Council, click here to join, or sign up for their distribution list to stay informed.