MEDIA ADVISORY: October 21, 2004

Contact: Stacey Swank, Business Development Manager

Pinellas County Economic Development

(727) 464-7425 or sswank@co.pinellas.fl.us

Pinellas County Businesses
Cautiously Optimistic for 2005

Pinellas County Economic Development (PCED)’s 2004 Biennial Business Assistance Survey of local businesses finds Pinellas companies “cautiously optimistic,” about the economy in the coming year.  The survey, mailed to 10,000 randomly selected Pinellas County companies, takes the temperature of local businesses through a self-reported questionnaire.  Over three-fourths, (79%) of companies rate their business performance as “excellent/good,” up 2% from the 2002 survey.

This year’s survey results emphasized the importance of small businesses to the county’s overall economy; 80% of the surveyed companies have 10 or fewer full-time employees and 36% report their industry is in “better shape” now than a year ago, up 13% from 2002.  For the first time a majority of companies (51%) have a business webpage and 83% use the internet.

Pinellas County companies are positive regarding prospects for next year; one-sixth (16%) are considering adding locations and 31% expect their full-time employment to be higher a year from now, 65% expect it to stay the same, and only 4% expect it will be lower.  Revenue projections are also positive, 56% expect 2005 revenues to improve, and 37% expect they will stay the same.

Mike Meidel, Director of Pinellas County Economic Development said local businesses’ opinions are crucial to Pinellas County. “The Biennial Business Assistance Survey let’s us know how local businesses are doing, and how they’re feeling.  It is an essential tool for planning our economic development services and formulating effective long-term strategies.”

The survey had a response rate of 22%, up 8% from the last survey in 2002.  The margin of error is 2.1%.  

To view the entire survey and download your copy, visit www.siliconbay.org.  Check your local listings for Good Business Pinellas Television on Pinellas Channel 18.  This week’s show will feature a segment with Laura Berkowitz, PCED Senior Research Manager, discussing the results of the 2004 Biennial Business Assistance Survey.  To watch the show from your computer visit www.siliconbay.org/media/?tv.

For more information on the Biennial Business Assistance Survey results, contact Stacey Swank with Pinellas County Economic Development at (727) 464-7425 or sswank@pinellascounty.org.

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