AZ Biz News Update: Guess Who Leads the Nation in Small Business Startups?
Wednesday, May 21, 2014
Posted by: Arizona Small Business Association
More Than 5,000 AZ
Small Businesses Reenergized This Month
Arizona Small Business Month is going strong spearheaded by
2 major business conferences: AZ Small Biz Con and InfusionSoft's ICON14.
During these events more than 5,000 businesses were provided tools, resources,
connections and education to help them succeed in this new economy.
“We saw personally over 2,000 come through our AZ Small Biz
Con as there were several thousand that also came through Infusionsoft’s
conference and each of those events offered critical resources for marketing themselves,
making connections, learning new things, but also celebrating the spirit of entrepreneurialism
here in Arizona.” –Kristen Wilson, COO, Arizona Small Business Association
Small Business Economy Confidence at Its
Highest Since October 2007
Small business confidence in the economy has soared to its highest reading
since October 2007, rising from 93.4 in March to 95.2 in April, according to
the National Federation of Independent Business. This optimism comes despite an
economy still growing slower than in past recoveries. The monthly Small
Business Optimism Index reflected a growing confidence among
businesses and analysts since the end of a winter that chilled shopping, hiring
and other financial growth.
Majority of Small
Businesses Support Minimum Wage Hike
Debate about raising the minimum wage continues, and the impact to small
businesses and the economy is a sticking point in the argument. Small Business
Majority asked a random sample of small business owners what they
think about raising the wage and found 57 percent support a proposal that would
increase the federal minimum wage to $10.10/hour. The vast majority of
small employers already pay their workers more than minimum wage and more than
half agree increasing the minimum wage would not only help the economy, it
would make low-income consumers more likely to spend money--driving up demand
for goods and services at other small businesses.
Women, the Leading
Group in Business Startups
If you go to work for a newer business, there's a good chance you'll be working
for a woman. Between 1997 and 2014, the number of women-owned businesses
in the U.S. rose by 68 percent, twice the growth rate for men and nearly one
and a-half times the rate for all companies.
“Women are seeing that they can be entrepreneurs as part of just a normal
career trajectory. It’s no longer you’re the outlier as the business owner. It’s
actually being embraced as this is part of what I’m going to be doing with my
career.” -Susan Duffy, Executive Director, Center for Women's
Entrepreneurial Leadership, Babson College.