Florida small businesses optimistic about future
According to the Small Business Administration (SBA), Florida is home to approximately 2,113,000 small businesses. These organizations have driven the economic recovery of the state, which continues to outpace the national average.
In an analysis of individual states small business activity published by the Orlando Advocate, SBA Chief Counsel for Advocacy, Dr. Winslow Sargeant, praised Florida's small business community for their work.
"Florida's small businesses contribute so much to the state's economy," Dr. Sargeant wrote in his report. "Representing 42.8 percent of the state's private workforce, no one can doubt the significant role small businesses play in our economic landscape. I hope our state and national leaders will continue to recognize the importance of the American entrepreneur and utilize today's research to move forward constructive policies for America's financial foundation—our small businesses."
The recent Small Business Index survey performed by the Florida Chamber of Commerce showed that small business owners share Dr. Sargeant's confidence. According to the results of the survey, 67 percent of small businesses in the Sunshine State expect the economy to improve in the next three years.
Because small businesses are so vital to the state's economy, the chamber wrote in its report that it will focus on providing new opportunities for expansion. Already, four out of five new jobs in Florida are created by small businesses, and 43 percent of small businesses report higher company sales compared to this time last year, the Chamber of Commerce found.
While the optimism expressed in these reports inspires confidence, organizations are still facing challenges. In the survey, owners listed access to capital as their main concern for the future.
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