Florida Chamber survey shows businesses concerned about workforce quality and economic security

by | Apr 23, 2018

The quality of Florida’s workforce continues to be the main concern for businesses across the state. That’s the finding of the latest Florida Chamber of Commerce Small Business Index Survey.

For the fifth quarter in a row employers said they are concerned about finding skilled workers to meet open job demands.

“Businesses continue to tell us that in order to expand and to be competitive, they need access to a talented workforce,” said Jerry Parrish, Chief Economist and Director of Research for the Florida Chamber Foundation. “This quarter’s Small Business Index Survey once again indicates that workforce quality is the biggest concern for Florida’s small businesses. As we look to Florida’s future, we must continue to ensure Florida’s business climate remains fair, competitive, and a magnet for high-skilled talent.”

The Chamber’s Small Business Index shows about one of every five businesses (21 percent) identify workforce quality as their main concern.

The survey also shows businesses are uncertain about their economic security (14 percent), marking the first time this year that the issue has been identified by the business community as a concern It’s believed that uncertainty is the result of recent developments on the national level pertaining to international trade.

The Chamber’s quarterly Small Business Index shows small businesses in Florida are most concerned about:

  • Workforce quality (21 percent),
  • Economic uncertainty (14 percent)
  • Government regulations (13 percent),
  • Lawsuit abuse (9 percent),
  • Healthcare costs (9 percent),
  • Access to capital (7 percent).

“Workforce quality continues to be the top concern of Florida’s small businesses, with economic uncertainty ranking second,” said Glenda Hood, Chair of the Florida Chamber’s Small Business Council, and Founding Partner, triSect. “Florida’s economy is dependent on the small business community, and the Florida Chamber’s Small Business Council remains committed to advocating on their behalf.”

The survey shows nearly half (49 percent) of the state’s small businesses plan to hire in the next six months. Fifty-one percent plan on making investments in their facilities or equipment. The Chamber says both of those numbers positively reflect on the continued expansion of the state’s economy.

Click here to view the full report.

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