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Follow on Google News | BizFed Poll: LA County Business Outlook PlummetsLA County business owners’ and executives’ optimism about the future for their small businesses, companies and hiring has plunged in the past eight months, according to a new survey by the Los Angeles County Business Federation (BizFed).
By: Los Angeles County Business Federation As for hiring new workers, the survey found that just 1-in-5 businesses (21%) say they may grow their workforce in the next few months – another significant drop from 33% who felt that way eight months ago. “This is an alarming and sobering call from LA County’s job creators that the struggle to stay afloat is getting sharply more difficult,” said Mark Wilbur, BizFed Chair. “Small business owners have seen virtually no improvements this year - and the outlook for the future is for more of the same. It raises serious questions about how much longer many businesses can hold on.” With pessimism and caution weighing heavily on most LA County business owners and executives, 69% of respondents now are forecasting zero growth in their workforce for the next 6 months - up sharply from 41% eight months ago. “Lack of market certainty, the regulatory environment, tax and fee burdens, borrowing impediments and the enormous deficits threatening government at all levels are making future economic recovery more and more distant,” said David Fleming, BizFed Founding Chair. “Many have told us at BizFed that, for them, a double-dip recession has already arrived.” The BizFed survey found: Business Outlook: 51% of business owners and executives say their outlook for the next 6 months is FLAT Workforce Outlook: 21% planning for workforce growth (a drop from 33% earlier this year) Influencing Outlook: Cited as No. 1 by 77% of respondents: Government Agencies/Regulations Impacting Business and Outlook (top responses) Other Top of Mind Issues (top responses) Areas BizFed Should Focus On (top responses) “With virtually all LA County business outlook indicators reflecting increased pessimism for at least the next six months – and virtually no job creation anytime soon – it is clear that an immediate focus on initiatives to help our businesses survive is urgently needed,” said John Kelsall, BizFed Chair-Elect, and President, Greater Lakewood Chamber of Commerce. The BizPULSE survey findings generally mirror several national and statewide surveys of business owners and executives, but mark one of the first looks specifically at LA County businesses and how their outlook has changed since the first quarter of this year. The one bright spot in the survey is that only 1-in-10 (10%) plan workforce reductions in the near future, down from 1-in-5 (20%) earlier this year. “These survey results are a clear and loud alarm bell,” said Tracy Rafter, BizFed CEO. “BizFed is calling on ALL of our elected leaders to turn a laser-focus on improving the business environment to help business create jobs and get our economy moving again. “BizFed’s Board of Directors has voted unanimously to support Lt. Gov. Gavin Newsom’s ‘Economic Growth & Competitiveness Agenda’ as a framework that jumpstarts a critically needed discussion and new approach in economic and governance strategies. “The Agenda does not have all of the solutions – but it is a concrete step forward when poll results such as these clearly show we can no longer settle for partisan gridlock. We urge all of our electeds to bring forth their plans and ignite sustained, collaborative progress. In the coming months, BizFed will be partnering with officials on these efforts – including six priority areas identified by BizFed members as critical to economic growth and job creation - to support parallel strategies of addressing both the state budget and economic growth.” INTERVIEWS AVAILABLE BizFed member organizations across LA County are available for interviews; see attached list of BizFed members. In addition, these BizFed members are available immediately for interviews: • Poll Co-Chair Laurie Hughes, Executive Director, Gateway to LA; lhughes@gatewaytola.org, (310)216-7328 • Poll Co-Chair Hugo Merida, Chair, LA Metro Hispanic Chamber; hmerida@chamberla.org, (213)739-7016 • Mark Wilbur, Employers Group; BizFed Chair, mwilbur@employersgroup.com, (213)765-3999 • John Kelsall, Greater Lakewood Chamber; BizFed Chair-Elect, john@lakewoodchamber.com, (562)531-9733 • Bruce Barrows, President, League of CA Cities Los Angeles Division, and City Councilman Cerritos, (562)547-1732 • David Fleming, BizFed Founding Chair; david.fleming@ • Pilar Hoyos, VP, Public Affairs, Watson Land Company; phoyos@watsonlandcompany.com, (310)952-6417 • Armando Jamjian, Managing Director, Encore Tax Consulting Group, ajamjian@etaxgroup.com, (626)577-1044 • Cynthia Kurtz, President, San Gabriel Valley Economic Partnership, ckurtz@valleyconnect.com, (626)856-3400 • Paul Little, President, Pasadena Chamber, paul@pasadena- • Paul Taylor, Deputy CEO, Metro, taylorp@metro.net, (213)922-6888 • Ron Wood, President, Valley Economic Alliance; rwood@economicalliance.org, (818)377-6386 Methodology: # # # BizFed is a grassroots alliance of more than 85 business organizations, economic development organizations, advocacy and trade groups, business improvement districts, and premier companies representing over 150,000 businesses across Los Angeles County. 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