NFIB

  View the full set of questions and responses for the Florida Small-Business Conditions report, September 2005.

CONTACT: Steve Birtman, (850) 681-0416 or Jim Brown, (615) 874-5288

NFIB’s Small-Business Conditions Report Shows Conditions Improve in Gold Coast Region

TALLAHASSEE, Fla. -- Florida’s small-business owners are pursuing several measures to deal with soaring energy prices, according to the Florida Small-Business Conditions^SM. The report’s data, which was released today by the National Federation of Independent Business/Florida, provides an overview of small-business conditions within Florida and compares them with neighboring states.

Asked to name “the single most important action … recently taken to combat the rising cost of energy,” respondents answered as follows:

• 21 percent have “reduced energy use.”
• 13 percent have “increased promotion and advertising.”
• 12 percent have “absorbed costs with lower earnings.”
• 10 percent have “raised selling prices.”
• 8 percent have “invested in energy-conserving equipment and vehicles.”
• 7 percent “reduced non-energy costs such as payroll.”
• 25 percent said they didn't know or declined to answer.

“Nearly three out of four small-business owners have indicated they've altered their business practices in some way because of higher energy costs,” NFIB/Florida State Director Steve Birtman said  “Clearly, rising energy prices are a concern for Florida’s entrepreneurs, but small business continues to be optimistic about the future despite this inflationary pressure.”

A net 69 percent (positive percent minus negative percent) of respondents said business prospects over the next several months look “good,” up from a net 60 percent in June’s survey and one of the nation’s best readings. A net 24 percent said business conditions are “improving,” up four percentage points from last quarter, which bucked the regional trend. Nearly seven in 10 respondents said they are “satisfied” with “the direction Florida is headed.”

Florida’s Gold Coast, which last quarter significantly lagged the North, Central and Tampa Bay/West Coast regions, registered better results in the current survey. A net 29 percent of respondents in the Gold Coast said Florida’s business environment is “supportive,” up from a net 18 percent last quarter. A net 20 percent said business conditions are “improving,” up from a net 12 percent in June. The Gold Coast still trailed the rest of the state in overall business conditions.

The Small-Business Conditions^SM reports are developed from surveys of small-business owners in selected states. The surveys are designed to determine the condition of the small-business economy in each particular state. The surveys are conducted every three months and results are released on the first day of the month following completion. The text of the questions and the complete response set to the survey can be found at www.NFIB.com/research.

The Poll
NFIB’s Florida Small-Business Conditions^SM is a telephone survey of a random sample of Florida’s small employers regarding business condition within the state. “Small employer” is defined here as someone employing between one and 250 people (not including the owner(s)) in a for-profit business. Four separate regional surveys are conducted, each with a minimum of 350 respondents. The North Florida survey samples small employers in ZIP codes 32000-32099 and 32200-32699. Pensacola, Tallahassee, Jacksonville and Gainesville are included. The Central Florida survey samples small employers in ZIP codes 32100-32199, 32700-32999, 34400-34499 and 34700-34799. Daytona Beach, Ocala, Orlando and Vero Beach are included. The Gold Coast survey samples small employers in ZIP codes 33000-33499 and 34900-34999. Fort Pierce, West Palm Beach, Miami and the Keys are included. Finally, the Tampa Bay-South survey samples small employers in ZIP codes 33500-34299 and 34600-34699. Spring Hill, Lakeland, Sebring and Naples are included. The sampling error of each survey is ± 5 percentage points. States totals result by population weighting regional totals. Data are collected quarterly in the months of February, May, August and November, beginning in February 2005. The MRCGroup of Las Vegas conducts the survey for the NFIB Research Foundation.

The Sponsor
The NFIB Research Foundation is a 501 (c)(3) organization that provides policy-makers, media, educators, small-business owners and other interested parties empirically based information on small business and small-business owners. The Foundation is affiliated with the National Federation of Independent Business, the nation’s largest small- and independent-business advocacy organization, and is located in Washington, D.C.