Nearly one-third of small business owners in Los Angeles plan to hire new workers in the next year, a recent survey said.
Among the companies looking to bulk up their payrolls, 37% are planning for an increase in business, according to the 2013 Small Business Owner report from Bank of America, More than half of business owners surveyed say they expect to see an uptick in sales in the next 12 months.
That optimism is bolstered by a belief that the Los Angeles economy will continue to pick up in 2014. Nearly half of Los Angeles small businesses say the national economy will improve in the next year, a higher proportion than the national average of 41%, the survey said.
Local companies reported that potential roadblocks include healthcare costs resulting from the Affordable Care Act, the strength of the U.S. dollar and effectiveness of lawmakers in Washington.
Most small businesses were less than excited about the upcoming shopping mayhem that is Black Friday. More than 80% said that Black Friday would have little effect on their sales and that Cyber Monday was overhyped.