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Executives look to punt recession

  • By Business Observer Staff
  • | 7:14 a.m. November 14, 2013
  • | 2 Free Articles Remaining!
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The latest sign the recession is truly receding: Florida business owners, at least the ones who responded to an American Express Open Small Business survey, pay themselves, on average, $75,500 a year.

That's an increase of 21.5% over last year, when owners paid themselves a salary, on average, of $62,100. More than half the owners polled, 55%, pay themselves a salary, which, counter to the actual amount, is a drop from 61% last year, according to the survey.

The report is derived from a survey of Florida small business owners and executives taken over telephone calls in September. Other survey nuggets are a play off the “what recession?” theme. Results include:

  • The rate of respondents who claim cash-flow issues for the next six months, 51%, is down, from 58% in the spring survey and 54% last year;
  • Almost two-thirds, 61%, have a positive outlook for their business prospects over the next six months;
  • Half will make capital investments over the next six months — though that's a large drop from 68% in the spring survey;
  • Nearly half, 47%, plan to hire within the next six months, up significantly from 34% in the spring and 30% in the fall. Plus, 41% plan to provide employees raises or bonuses this year.
  • More than four out 10, 44%, say they have a greater appetite for risk than they did a year ago.
  • Three out of 10 say the morale of their employees has improved over the last six months;
  • Respondents report 19% revenue growth over the last three years. And more than half, 52%, are confident revenues will increase over the next six months.

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