Small businesses in Pacific states led the...
Small businesses in Pacific states led the nation in sales growth and ranked second in employment growth in the first half of 1987, but experienced a decline in new business formations, according an American Express survey.
California, Oregon, Washington, Alaska and Hawaii accounted for the highest percentage growth in sales--1.89%--among nine U.S. regions, according to the American Express’ newly launched Small Business Growth Index, which is designed to measure the growth of more than 7 million small companies in the United States.
The region’s small businesses ranked second in employment growth at 2.24%. However, new business incorporations fell 6.92%.
“While the Pacific region’s small businesses are currently enjoying increasing sales and have been able to hire many new employees, the region’s decline in new business incorporations represents a dark cloud over its otherwise positive business performance,†said David Birch, chairman of American Express Small Business Partnership, which provides small companies with management services and resources.
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