Cal State San Marcos has created an online economic dashboard, in conjunction with the San Diego Business Journal, to showcase an index of business confidence in the region, the college announced Monday.
CSUSM’s College of Business Administration has been working with the publication for two years to develop the semi-annual index, which tracks the optimism of area business owners.
The results stem from survey questions on whether the owners expect higher profits, stronger sales, improved business conditions for their industry sector and greater employment over the next year. The survey participants are also asked their opinions on how they’re stacking up against their competition.
The dashboard is online at http://www.csusm.edu/coba/dashboard/sdbj/index.html.
Among the results from the most recent survey of 222 business owners questioned this spring:
— 60 percent expect higher profits, and 30 percent expect profits to remain stable;
— 65 percent project more revenues, and 28 percent expect the same amount;
— 40 percent plan to increase staffing, with only 2 percent planning to reduce their workforce;
— two-thirds think their industry conditions are getting better; and
— 95 percent believe their businesses are performing as well as or better than their competitors.
“As the economy has improved, many small business owners are reporting a stronger financial situation, healthier revenues and good cash-flow trends,” said Brian Lee, North San Diego area president for Wells Fargo and a member of the College of Business Administration’s advisory board.
“More business owners are also reporting plans to increase their capital spending and apply for new credit products, which is consistent with what our bankers are hearing from small business customers in our branches,” Lee said.
—City News Service
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