Florida Businesses Roll out of Recession Investing in Marketing and Technology

Florida businesses seem to betting the recession is ending, according to a survey released today by Kaufman Rossin, which found that Florida businesses are gearing back up.

The survey of Florida businesses revealed that 64.6 percent of small to mid-size companies plan to put money behind marketing efforts over the next 18 months, making it the top area for planned business investments. A restored sense of confidence has many companies also thinking about technology; 55.6 percent of companies surveyed say they will be investing in this area. Training employees and increasing salaries are also top of mind, with 27.2 percent of businesses planning to spend on training and 23.4 percent on raising salaries.

“Florida businesses are keenly aware that the state’s economy is recovering. They understand that now is the time to invest in technology and marketing if they want to remain competitive,” said Blain Heckaman, managing principal of Kaufman, Rossin. “It’s also clear that businesses know that investing in these two sectors will help capture higher-value customers and improve customer loyalty.”

Technology was a recurring theme with respondents, who indicated it’s the most important issue for their businesses in 2013, followed by developing new products of markets, brand awareness and employee satisfaction.

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.

Read about this Florida businesses article at The Starting Gate.