California Business Boom 2011

California small business owners are increasingly bullish on business in 2011, according to the latest small business survey by Citibank.

Of California business owners and entrepreneurs surveyed, 54-percent believe 2011 will be better than 2010 --- a percentage that is up dramatically from last year.

Even though 36-percent expect 2011 to be about the same as last year, entrepreneurs' optimism about business conditions indicates that small businesses are poised for positive growth across the state of California.

According to the Citibank survey, 34-percent of California’s small business owners say their business situation is better than a year ago, up nearly double from 19-percent in March 2010.

What would make the most positive impact on California small businesses in 2011?  Survey respondents stated the following steps would make a world of difference to the profitability of their small businesses:

1. Reducing taxes
2. Increasing credit availability
3. Lowering health care costs

Of California small business owners surveyed, an encouraging 61-percent said they plan to offer new products or services in the coming year.

California business owners stand strongly behind their career choice, with a whopping 76-percent saying they would start their business again even if they knew ahead of time what challenges they would face.

The majority of California's entrepreneurs also insisted that they would recommend entrepreneurship as a career to their children.

Rebecca Macieira-Kaufmann, President of Citibank California, expressed excitement about the results of the latest survey:

"Small businesses are the largest source of jobs in the state of California and their growing optimism represents an incredibly positive development... California's small businesses feel more confident about the current environment and about 2011," she stated.