Florida Q4 2015 PCA Index Findings Infographic
Once a quarter, Pepperdine University’s Graziadio School of Business and Management and Dun & Bradstreet poll small and medium-sized businesses across the nation to learn more about those companies growth and access to capital.
Overall, the Q4 2015 PCA Index findings revealed that small and medium-sized businesses in Florida are planning to hire and raise financing above the national average, but are also feeling more restricted than small businesses across the nation.
Florida Small Businesses Are Rarely Getting Loans
- Just over half of Florida small businesses surveyed attempted to get a bank loan in Q3 2015 and only 9% were successful, compared to the national success rate of almost 40%, Florida small businesses are rarely getting bank loans.
- This could explain why Florida small businesses are also feeling more restricted compared to the rest of the nation: 61% feel their growth opportunities are restricted and 56% feel their ability to hire is restricted, compared to 53% and 46% nationally.
- Florida small business owners also relied on personal assets more heavily than businesses nationwide: 43% of Florida small business owners transferred personal assets to their business, 10% higher than the national average.