Many Texas small businesses are preparing for growth, according to the most recent Private Capital Access Index from Pepperdine Graziadio School of Business and Dun & Bradstreet. Third quarter survey results reveal that many businesses believe growth is in their near future, though many surveyed still express concern about feeling restricted, both in their ability to hire and in their growth opportunities.
- 68% of small and medium Texas businesses surveyed are planning to hire in the next 6 months. This is 5% higher than the national average, and is a strong potential indicator of confidence among Texas small business owners.
- However, 46% of those surveyed do feel that their ability to hire is restricted. This is on par with the national average (48%).
- 36% of Texas small and medium businesses surveyed are planning to raise financing in the next 6 months. 64% surveyed said they need financing due to planned growth. This is another good indicator that Texas small business owners are anticipating growth and want to be ready.
- However, 52% surveyed said they feel their growth opportunities are restricted. On the up side, this percentage is down 4% from Q2 and is below the national average as well.