Report: California small businesses cautiously optimistic about future

Published: Friday, Apr. 25, 2014 - 10:55 am
Last Modified: Friday, Apr. 25, 2014 - 12:44 pm

Small business operators in California are cautiously optimistic about the future of their businesses and the economy, according to the latest American Express OPEN Small Business Monitor, released each spring and fall since 2002.

American Express OPEN is the small business services division of American Express. It’s Small Business Monitor is a nationwide survey of business owners/managers of companies with fewer than 100 employees.

According to the latest Monitor survey, 56 percent of California businesses are optimistic about their business prospects over the next six months, and 85 percent said employees’ productivity has increased over the past year. Fifty percent plan to make capital investments over the next six months, down from 62 percent last fall but up dramatically from 36 percent in the spring of 2013.

Sixty-one percent said that their businesses are “staying afloat” despite being negatively affected by the economy. Sixty-three percent now offer health care benefits to employees, up from 51 percent last fall, a byproduct of the federal Affordable Care Act.

Thirty-seven percent report having cash flow issues, down dramatically from 55 percent last fall and 77 percent in early 2013.

“The recession’s silver lining is that small business owners have become more adept at navigating an uncertain economy, gaining valuable experience and putting it into practice along the way,” said Denise Pickett, president of American Express OPEN.

Call The Bee’s Mark Glover, (916) 321-1184.

Read more articles by Mark Glover

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