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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 3 Survey Results

Conducted: August 20 -September 12, 2014
Responses: 308

Florida Small Business Index: 2014 Quarter 3 Results (PDF Document)

With Florida’s economic recovery continuing to outpace the nation, small businesses reported higher company sales, increased optimism and an increased willingness to hire new employees in a Florida Chamber of Commerce Small Business Index Survey.

“Small businesses are the backbone of our economy,” said Tony Carvajal, Executive Vice President of the Florida Chamber Foundation today when unveiling the latest survey results at the Future of Florida Forum in Orlando. “This survey shows Florida’s small business are ready to grow, expect to hire and remain optimistic about their chances for success. Every community benefits from small businesses success.”

The survey, conducted in conjunction with the Florida Small Business Development Center (SBDC) Network shows 37 percent of small businesses reporting higher company sales compared to last quarter.

The Florida Chamber’s Small Business Index Survey shows:

  • Top Issues Facing Small Businesses: Economic uncertainty (26 percent) and access to capital (22 percent) remain the top two issues facing Florida small businesses.
  • Sales Increased: 37 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: 56 percent expect the economy to improve over the next three months, in advance of the holiday shopping season. Additionally, 71 percent of respondents expect the economy to improve in the next 12 months. Of the 71 percent, 15 percent say they expect the economy to “improve significantly,” nearly double the amount from the Florida Chamber Q2 2014 survey.

“As we work collectively to move Florida forward, it is crucial we remain cognizant of the barriers and issues small businesses face,” said Michael Myhre, CEO and Network State Director for the Florida SBDC. “The Florida SBDC Network employs professionally certified consultants who can work with small business owners through these challenges, helping them realize that investing in their growth is something that they should do today.”

 

Past Survey Results
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