Click here for a link to the full article by Business Observer Staff published on May 13, 2022 in Business Observer.

Despite the onslaught of challenges, from inflation to political unrest to supply chain snarls, Florida small business owners remain an optimistic bunch.

Florida also came in first on the question of business climate, and if business owners believe their state is a great place to start a small business. A strong majority, 85%, believe that in Florida. 

Overall, the survey found more than two-thirds, 67%, of business owners described their company as being successful in the past year — up 8% year-over-year.

Other survey results include:

• Despite more small businesses planning for expansions, only 35% plan to do so by securing external funding sources.
• While uncertainty surrounding the pandemic remains among the top concerns facing businesses, it has decreased from 52% in 2021 to 39% in 2022.
• Of those planning to grow or expand their business in the year ahead, the majority plan to do so through adding new products and services (45%), hiring more employees (42%) or increasing their marketing/advertising budget (40%).