Small and mid-sized businesses across Florida are feeling more optimistic about the state’s economy. That’s the finding of a new survey by PNC Bank.
A rebounding national economy and growing labor market are the backdrop to the confidence small and mid-sized business owners have about their future.
But while business owners are no longer hunkering down, PNC economist Mekael Teshome said most are also not hiring or giving their employees raises. “We are starting to get some indications that wage pressures are there,” he said, “so employees I think can expect to see a better bump in pay this year than they did in 2014. But it’s really going to be around 2016 when we’re going to see faster acceleration.”
Teshome said surveys found business owners in Florida are more optimistic than they are in the Midwest.