Florida Businesses Optimistic, Though Government and Tax Concerns Linger

Flu season may be sweeping across the U.S., but don’t tell that to Florida small and medium-sized business owners, who say thefinancial health of their companies is on the fast track to a recovery in 2013.

A survey released today by Kaufman Rossin reveals that not only did Florida businesses owners see the health of their company improve in 2012, but nearly 58 percent are optimistic that progress will continue this year.  Specifically, 41 percent of companies said the health of their business would be “generally better” in one year compared to today, while 16 percent said it would be “much better.” The data showed that 42 percent felt “much better” or “generally better” about their business health in 2012 compared to the previous year.

“Working closely with Florida businesses, we definitely have seen financial indicators strengthening and a renewed commitment to growth,” said Blain Heckaman, managing principal of Kaufman, Rossin. “While some challenges will persist in 2013, companies with vision and clarity in their business planning and strategy will see opportunities for renewed or continued success.”

When asked which geographic areas they would focus on for growth this year, 42 percent said they expected to increase business within their county, 43 percent said they would likely increase business in Florida, while 40 percent said they’d probably see a  boost from the rest of the U.S. and Canada. 27 percent of respondents said they expected to do more business with Caribbean, Central America or South America, and 25 percent expect to do more business with the rest of the world.

This optimism among business leaders should lead to a positive shift in employment, with nearly 55 percent of those surveyed saying they’d be adding one to 10 employees this year.  Three percent said they’d consider hiring between 11 to 20 new employees.

The survey also asked recipients to weigh in on the top issues facing Florida businesses through write-in responses.  Taxes were mentioned most frequently while the economy, government instability and regulations continue to stay top-of-mind as the biggest concerns among companies.

The data is based on responses from nearly 500 CEOs, presidents and business owners, with the highest concentration of businesses in South Florida and the Tampa Bay-area. Most have been in business for more than 10 years and represent a wide range of industries, including healthcare, technology, professional services and manufacturing.