California small businesses are increasingly optimistic, along with small businesses surveyed nationwide, according to the Private Capital Access Index from Pepperdine Graziadio School of Business and Dun & Bradstreet. When it comes to planned hiring and raising financing, California small businesses are above the national averages for Q3 2015:
- 66% are planning to hire in the next six months (up 3% from average)
- 36% are planning to raise financing in the next 6 months (up 2% from average)
While California small businesses surveyed may be more optimistic about the future than the national average, the state is still being outdone by others, like New York, that have higher percentages of small businesses planning to hire and raise financing due to growth.
Despite nationwide optimism, restrictions around hiring and growth are still concerns for California small businesses, as is access to capital.
- 60% feel their growth opportunities are restricted (up 3% from average)
- 32% used personal assets to fund their business in Q3 2015
California small businesses may be optimistic about finding the funding they need, but bank loans still aren’t meeting business owners’ demands. For help finding and securing traditional or alternative financing for your business, visit Access to Capital.
See the full Q3 2015 PCA Index findings on California small business in the infographic below: