According to a survey conducted by Union Bank, small business owners produced some forlorn news for 2011. Of the nearly 3,000 small business owners surveyed in California, only 14% reported they would be hiring this year. While there won’t be much hiring growth, the survey did report that 96% of businesses were not expecting layoffs anytime this year. That is good news since last year, 21% of the country’s business laid-off employees. The majority of small businesses are also expecting to keep capital spending at the same level of the previous year, yet there was a 27% who have plans to increase capital expenditures.
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