California economy rebounds; State's small business owners more optimistic than national average; Highest level of confidence since the 1980s.SAN FRANCISCO--(BUSINESS WIRE)--March 13, 1995--California small business owners are more optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the 1995 business climate and their prospects than are owners in other parts of the country, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Bank/National Federation of Independent Business (NFIB NFIB National Federation of Independent Business NFIB National Foreign Intelligence Board ) survey. The 16-page report, which was compiled by the NFIB Education Foundation and sponsored by Wells Fargo, surveyed the Federation's California members. The NFIB's Index of Small Business Optimism found that confidence, which has increased steadily since July 1993, was at its highest levels in California since the 1980s. Over its 20-year history, the Index has proven to be a reliable predictor of subsequent economic conditions. California survey respondents said that earnings performance, job openings and capital expenditures have risen, while the frequency of price slashing slash·ing adj. 1. Bitingly critical or satiric: slashing wit. 2. Dashing; pelting: a slashing hailstorm. 3. has fallen. More owners report sales increases rather than decreases, although "poor sales" was still selected as the single most important problem for small businesses. The state's owners express confidence despite encountering "excessive" continued regulation and taxation, recent natural disasters and the dismantling defense industry. Small businesses perceived that southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, was hit more severely than northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern by the recession of the early 1990s. While the performance gap between the two halves of the state closed in the last year, owners in the north still fared slightly better in sales, job openings and business loans -- as they have over the last two and one-half years. Despite these statistics, southern California respondents reported a slightly higher level of optimism that general business conditions will improve and that real volume sales will rise. In a review of economic conditions in the state from 1975 through January 1995, the study found that California owners outperformed the national average over the period in sales, earnings and employment. The central feature for most of the 20-year period was growth, especially during the mid- to late-1980s. The state's small businesses underperformed their counterparts elsewhere in the early 1990s, but owners are now reporting improving conditions within the last 12 months. The NFIB began surveying its national membership on small business economic conditions in 1973. The survey, known as Small Business Economic Trends, has since become an integral part of the Federation's small business advocacy program. In 1992, Wells Fargo teamed up with the NFIB to expand the small business economic survey in California, specifically to look more closely at the comparison of northern and southern California small businesses. Headquartered in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Wells Fargo & Co. has been serving the financial needs of small businesses since 1852, when Wells Fargo agents operated banking and express offices during the California Gold Rush  The California Gold Rush 1848–1855) began on January 24, 1848, when gold was discovered at Sutter's Mill. . Today, Wells Fargo Bank is the seventh largest bank in the country, with $53.4 billion in assets (as of Dec. 31, 1994). It is the largest small business lender in California. CONTACT: NFIB Education Foundation William Dennis, Jr., 202/554-9000 |
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