TALLAHASSEE (January 25, 2017) – The Florida Chamber of Commerce today revealed the results of their quarterly Small Business Index survey, which shows “Government Regulations” and “Workforce Quality” as the top issues small businesses are concerned about.
“Florida’s small businesses continue to face a number of challenges, including increased government regulations, as well as workforce quality,” said TAMI FITZPATRICK, Founder and Chief Executive Officer, Entropy Technology Design, Inc. “The Florida Chamber’s Small Business Council looks forward to working together to identify and support solutions that will help and grow Florida’s small business community.”
“Access to Capital” was the second most frequently cited challenge facing Florida’s small business community, with 13 percent of respondents citing this as their top issue, up from the nine who indicated the same during the third quarter survey. “Healthcare Costs”, followed with the next place on the list, with 10 percent of respondents citing it as their top issue. “Economic Uncertainty followed closely behind as the top issue for 9 percent of survey respondents, and “Lawsuit Abuse” was also claimed by 9 percent of respondents.
“One indicator of the future path of Florida’s economy is the percentage of respondents that expect the economy to improve over the next year – 77 percent, much higher than the 50 percent reported in last quarter’s survey,” said DR. JERRY PARRISH, Chief Economist and Director of Research, Florida Chamber Foundation.
The Florida Chamber’s Small Business Index survey shows:
Top Issues Facing Small Businesses:
- Government regulations (18 percent – tie),
- Workforce quality (18 percent – tie),
- Access to capital (13 percent),
- Healthcare costs (10 percent),
- Economic uncertainty (9 percent – tie), and
- Lawsuit abuse (9 percent – tie).
68 percent of respondents expect their sales will increase over the next year.
24 percent of respondents employ less than five employees, 51 percent of respondents employ 5 to 49 employees,
The Florida Chamber’s Small Business Index Survey was conducted electronically December 1 through December 23, 2016. Click here to view the full report.
Established in 1916 as Florida’s first statewide business advocacy organization, the Florida Chamber of Commerce is the voice of business and the state’s largest federation of employers, chambers of commerce and associations aggressively representing small and large businesses from every industry and every region. The Florida Chamber works within all branches of government to affect those changes set forth in the annual Florida Business Agenda, and which are seen as crucial to secure Florida’s future. The Florida Chamber works closely with its Florida Political Operations and the Florida Chamber Foundation. Visit www.FLChamber.com for more information.