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News & Press: Arizona Business News Updates

AZ Biz News Update: Guess Who Leads the Nation in Small Business Startups?

Wednesday, May 21, 2014   (0 Comments)
Posted by: Arizona Small Business Association
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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.


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