Florida Chamber Third Quarter Small Business Index Survey revealed businesses worry about finding a skilled workforce, the sixth consecutive quarter workforce quality topped the list of concerns.
Small businesses are also concerned about economic uncertainty, which the chamber believes is likely a signal that recent activities with tariffs and international trade are causing some concern.
On a more positive note, 31 percent of small businesses indicated confidence in the direction that Florida is taking to make Florida a better place for businesses—up from 21 percent last year.
“Businesses continue to tell us that in order to expand and to be more competitive, they need access to a talented workforce,” said Dr. Jerry Parrish, Chief Economist and Director of Research for the Florida Chamber Foundation. “This quarter’s Small Business Index Survey indicates that Florida’s small businesses are becoming increasingly concerned about workforce quality. As we look to Florida’s future, we must continue to ensure that Florida’s economy is ready and able to create prosperity through high-paying jobs, remain globally competitive, and develop vibrant and sustainable communities.â€
Of Florida small businesses, 45 percent of respondents expect to hire in the next six months, and 44 percent expect to make investments in plants or equipment- both good signs for continued expansion of Florida’s economy.
“The Florida Chamber’s third quarter Small Business Index Survey shows once again that workforce quality is the top concern for Florida’s small business community, with economic uncertainty ranking second,†said Glenda Hood, Chair of the Florida Chamber’s Small Business Council, and Founding Partner, triSect. “The Florida Chamber’s Small Business Council looks forward to working with Florida’s small business community to identify and support solutions that will help address workforce concerns, as well as other challenges.”
Look at the difference in top concerns from the third quarter of 2016:
| 2018 Q3 | 2016 Q3 | |
| Workforce Quality | 29% | 11% |
| Government Regulations | 9% | 23% |
| Healthcare Costs | 6% | 9% |
| Lawsuit Abuse | 9% | 0% |
| Access to Capital | 9% | |
| Economic Uncertainty | 14% | 14% |
| Growth Management Issues | 6% | 9% |
Can the Escambia County School District produce the graduates that can get the necessary certifications and degrees to do the jobs coming open in the next five to 10 years?