Small Business Index Survey
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.
2014 Quarter 2 Survey Results
Conducted: May 12 -23, 2014
Florida Small Business Index: 2014 Quarter 2 Results (PDF Document)
With Florida’s economic recovery continuing to outpace the nation, small businesses reported higher company sales and increased optimism in a new Florida Chamber of Commerce Small Business Index Survey. The survey, conducted in conjunction with the Florida Small Business Development Center Network (SBDC), shows 43 percent of small businesses reporting higher company sales compared to this time last year.
Florida Chamber President and CEO Mark Wilson said, “Four out of five new jobs in Florida will be created by small businesses which is why the Florida Chamber is focused on creating opportunities like increasing Florida-origin exports and lowering the cost of doing business with issues such as lawsuit abuse reform. The Small Business Survey helps us monitor the health of the important role small businesses play in Florida’s economy.”
The Florida Chamber’s Small Business Index Survey shows:
- Top Issue Facing Small Businesses: Tied between access to capital and economic uncertainty, with both receiving 24 percent of the vote.
- Access To Capital: Increased by 12 percent compared to the same time period last year.
- Economic Uncertainty: Decreased by 10 percent compared to the same time period last year.
- Sales Increased: 43 percent of businesses surveyed reported higher company sales compared to the same time period last year, with only 1-in-4 businesses reporting lower sales.
- Optimism Increased: 58 percent expect the economy to improve over the next year, up three percent from 2013. Additionally, two-thirds (67 percent) of respondents expect the economy to improve in the next three years, up six percent from 2013.
“Our state officials are interested to know what issues, challenges and barriers our businesses face,” said Michael W. Myhre, Florida SBDC Network State Director. “Knowing these could lead to better policy—helping us grow our state’s most valuable resource: small business.”
The Florida Chamber’s Small Business Index Survey was conducted electronically May 12 through May 23, 2014.