California small business owners are increasingly optimistic about the economy and their personal growth prospects, suggests a survey released Thursday by Citibank.
According to the report, 54 percent of respondents believe this year will see better economic and financial conditions than 2010, while 36 percent believe 2011 will be essentially the same and only 10 percent expect it to be worse.
"Small businesses are the largest source of jobs in the state of California, and their growing optimism represents an incredibly positive development," Rebecca Macieira-Kaufmann, president of Citibank California, said in a statement. "Though challenges remain, the results of our latest survey provide strong evidence that California's small businesses feel more confident about the current environment and about 2011."
Coincidentally, the Citibank survey was released the same day as a report by the Tax Foundation which found California to be among the most heavily tax-burdened states in the country, ranking the Golden State at No. 6 with a population that paid a net 10.6 percent of taxes in 2009.
However, few argue against the state's economic dominance, as it boasts an economy that is not only the country's largest, but also the eighth largest in the world - a fact that attracts many entrepreneurs looking to incorporate in California.
Tags : ca, operations, small business management
Posted: Feb 24th, 2011