Despite looming threats to California's economic dominance in the renewable energy, emerging technologies and other industries, the Golden State far surpasses the rest of the U.S. in small business confidence, according to a report by the American Express OPEN Small Business Monitor.
According to the survey, 85 percent of California business owners expect their businesses to expand this year, compared to only 77 percent nationwide. Meanwhile, 56 percent are expecting increased sales numbers for 2010, with only 39 percent of overall U.S. businesses expressing such confidence. California also falls lower than the rest of the country in pessimism toward the economy.
The report comes amidst an ongoing budget and financial debate in the country's largest economy. One proposition to be voted on this November could repeal a law requiring utilities to acquire one-third of their energy from renewable sources by 2020 until unemployment drops to 5.5 percent - a lofty ambition considering the state's current rate of just over 12 percent.
However, other national figures, such as hiring expectations, have remained consistent through recent months, suggesting substantial economic recovery is on its way for small business owners and entrepreneurs seeking to create an LLC.
Tags : ca, llc formation, small business management
Posted: Oct 15th, 2010