Florida small businesses are planning to grow, with 71% of small and medium businesses surveyed stating that they plan to hire in the next 6 months, according to the most recent Private Capital Access Index from Pepperdine Graziadio School of Business and Dun & Bradstreet. This is 8% above the national average for Q3. Check out other highlights from the study below.
- While 50% of Florida small and medium businesses surveyed report feeling their ability to hire was restricted in Q3, this is down 3% from Q2, and is closing on the national average of 48%. While this is still a high percentage, it is at least headed in the right direction.
- More concerning is the 63% of Florida small and medium businesses surveyed that reported feeling their growth opportunities are restricted. This is a full 6% higher than the national average, and likely means that Florida businesses are facing more challenging situations than businesses in other states.
- Despite feeling restricted, 36% of businesses surveyed are planning to raise financing in the next 6 months, and 62% say they need that financing due to planned growth.
Is your business struggling with financing? Visit Access to Capital to learn more about funding options and resources for small businesses.