The National Association of Women Business Owners-Los Angeles last week released results of a survey of over 2,000 business owners across Los Angeles County – men and women – assessing their views on the challenges of today’s economy, resources needed to succeed and differences among businesses.
Among the findings:
Respondents are more optimistic about their own business prospects than the prospects for the overall local economy (The economic outlook notwithstanding, 68% of small business owners report that morale at their companies is high. And most firms (72%) expect their businesses to be growing in five years.)
Profitability is down for more than one-half of the survey respondents, resulting in reduced expenditures, and in turn, a lessened contribution to our local economy. Despite the dip in 2009, survey respondents’ reported estimated revenues for 2010 that are comparable to revenues in 2008.
To read the executive summary of the survey, conducted and prepared by KH Consulting Group, click here.
Collaborating Organizations in the Survey included:
· National Association of Women Business Owners-Los Angeles (NAWBO-LA)
· BizFed
· County of Los Angeles, Office of Small Business
· City of Los Angeles
· Los Angeles Regional Small Business Development (SBDC) Network
· Counselors to America's Small Business, SCORE
· UCLA Anderson School of Management, Management Development for Entrepreneurs
· Regional Hispanic Chamber of Commerce
· Metropolitan Water District
· Black Business Association
· Small Business Development Centers
