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Survey: Economic concerns higher among Florida biz owners

Florida business owners are more concerned about their own company’s prospects during the next six monthspncfloridasmall than owners nationwide, according to the most recent PNC Economic Outlook survey.

Results show that 49% of owners in Florida are worried about their company’s health, compared to 36% nationwide.

Only 23% of Florida business owners—and 26% nationwide—expect sales to increase in the current business environment. More than half (52%) of Florida owners and 46% nationwide expect profits will decrease in the near term. Almost one out of four *(23%) nationwide expect to reduce their workforce in the next six month, and only 12% plan to hire. Florida is comparable with 20% expecting to reduce full-time employees and only 9% planning to hire.

The PNC Financial Services Group, Inc. (www.pnc.com) is a diversified financial services organization. The PNC Economic Outlook survey was conducted between July 21 and Aug. 26 by telephone within the United States among 1,451 owners or senior decision-makers of small and mid-sized businesses with annual revenues of $100,000 to $250 million. The results given in this release are based on interviews with 515 businesses nationally, while the remaining 936 interviews were conducted among businesses within the states of Florida, Illinois, New Jersey, Ohio and Pennsylvania. Sampling error for the national results is +/- 4.0%age points at the 95% confidence level.

The survey was conducted by Artemis Strategy Group (www.ArtemisSG.com).


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