Survey Also Shows Good Signs for Future Expansion of Florida’s Economy
TALLAHASSEE, Fla. (April 23, 2018) – Florida job creators continue to be plagued by workforce quality concerns, according to the latest Florida Chamber of Commerce Small Business Index Survey. This is the fifth quarter in a row in which employers are concerned about finding skilled workforce to meet open job demands.
Small businesses are also concerned about economic uncertainty – likely a signal that recent activities with international trade are causing some concern. This is the first time economic uncertainty has been identified as a top concern this year.
“Businesses continue to tell us that in order to expand and to be competitive, they need access to a talented workforce,” said DR. JERRY PARRISH, Chief Economist and Director of Research for the Florida Chamber Foundation. “The Florida Chamber Foundation’s recent Florida Jobs 2030 report confirms this by showing that the future of work is changing. This quarter’s Small Business Index Survey once again indicates that workforce quality is the biggest concern for Florida’s small businesses. As we look to Florida’s future, we must continue to ensure Florida’s business climate remains fair, competitive, and a magnet for high-skilled talent.”
The Florida Chamber’s quarterly Small Business Index statewide survey shows small businesses are most concerned about:
- Workforce quality (21 percent),
- Economic uncertainty (14 percent)
- Government regulations (13 percent),
- Lawsuit abuse (9 percent),
- Healthcare costs (9 percent),
- Access to capital (7 percent).
Of Florida small businesses, 49 percent of respondents expect to hire in the next six months, and 51 percent expect to make investments in plants or equipment- both good signs for continued expansion of Florida’s economy.
“Workforce quality continues to be the top concern of Florida’s small businesses, with economic uncertainty ranking second,” said GLENDA HOOD, Chair of the Florida Chamber’s Small Business Council, and Founding Partner, triSect. “Florida’s economy is dependent on the small business community, and the Florida Chamber’s Small Business Council remains committed to advocating on their behalf.”
About the Survey:
The Florida Chamber’s Small Business Index Survey was conducted electronically March 12 through April 12, 2018. 34 percent of respondents employ less than five employees, while 42 percent employ five to 49 employees. 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.