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California's Small-Business Owners Are Reporting an Improved Outlook for This Year
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(OPEN):
CALIFORNIA'S SMALL-BUSINESS OWNERS EXPERIENCED BOTH INCREASED SALES
AND FEWER LAYOFFS, LAST YEAR--AND ARE REPORTING AN IMPROVED OUTLOOK ON
PROFITS, HIRING, AND CAPITAL-EXPENDITURES FOR THIS YEAR. THAT'S
ACCORDING TO UNION BANK'S JUST-RELEASED "11TH ANNUAL
SMALL BUSINESS ECONOMIC SURVEY". HOWEVER, THE REPORT ALSO
FINDS THAT OWNERS ARE TRYING TO PROTECT THEIR BUSINESSES, BY BALANCING
THEIR INCREASED OPTIMISM WITH CONSERVATIVE MEASURES. TODD
HOLLANDER IS THE EXECUTIVE VICE-PRESIDENT OF UNION BANK'S
"BUSINESS BANKING GROUP"...
(HOLLANDER):
"AFTER YEARS OF BELT-TIGHTENING, CAREFUL SPENDING, AND TRYING TO
HOLD THE LINE ON STAFFING-LEVELS, CALIFORNIA'S SMALL-BUSINESS OWNERS ARE
GROWING WEARY OF JUST 'HANGING ON'--AND ARE READY TO RETURN TO
PROFITABILITY. WE FOUND THAT A FULL 60-PERCENT OF OWNERS,
THROUGHOUT THE STATE, BELIEVE THAT 20-11 WILL BE BETTER, IN TERMS OF
PROFITABILITY. THAT'S UP NINE-PERCENT FROM LAST YEAR--AND UP
26-PERCENT FROM 2009. IN FACT, IT'S THE MOST OPTIMISTIC THAT
OWNERS HAVE BEEN SINCE 2007--WHEN 67-PERCENT ANTICIPATED
IMPROVED-PROFITABILITY. THE PROFITABILITY-POINT IS THE
MOST-POSITIVE DEVELOPMENT FROM OUR SURVEY--AND IT PROVES AGAIN WHY
SMALL-BUSINESS OWNERS ARE TRULY THE BACKBONE OF CALIFORNIA'S
ECONOMY--NOT TO MENTION THAT OF THE ENTIRE NATION."
(CLOSE):
UNION BANK'S LATEST SMALL-BUSINESS SURVEY IS THE LARGEST TO DATE--WITH
NEARLY THREE-THOUSAND PARTICIPANTS, THROUGHOUT CALIFORNIA. FOR
MORE INFORMATION, VISIT
"UNION-BANK"-DOT-COM.
