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Hawai'`i SmallBiz Week Newsletter from The Business Research Library (BRL) |
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| OF THE HAWAI`I SMALL BUSINESS
DEVELOPMENT
CENTER bETWORK A Partnership Program between the University of Hawai`i at Hilo and the U.S. Small Business Administration | ||
| 17 February 1998 | A Summary of News for Small Business in Hawai`i | Volume 2 - Issue 2 |
HAWAI`I
•Hawai`i's 1997 Small Business State Economic Profile Released
•Networking Works For Hawai`i Small Business
•Hawai`i World Trade Center Could Be a Reality
•Quarterly Business Poll Being Conducting By SMS Research
NATIONAL
•Largest Job Growth in Computers; Largest Job Decline in Typesetters
•President's Budget Proposes Record Level Spending For Small Business
•"Who's Minding Our Preschoolers?"
•State and County Poverty Estimates Released By Census Bureau
HAWAI`I
HAWAI`I'S 1997 SMALL BUSINESS STATE ECONOMIC PROFILE
RELEASED
Every year the Small Business Administration's Office of Advocacy reports
on the importance of small business to the each state, the vital role they
play as job creators, and how their diversity and composition provide the
work force with endless possibilities. In 1996, Hawai`i had 26,974 businesses
with employees; 97.2 of the businesses were small businesses. In
addition, the state had 47,000 self-employed persons in 1996 for an estimated
total of 73,974 businesses. Very small businesses (less than 20 employees)
created 20,647 of the 32,853 net new jobs from 1992 to 1996. Small business
income declined 0.7 percent in 1996, while wage-and-salary income rose 1.0
percent. Women-owned businesses increased 66.8 percent between 1992-1996.
The number of black-owned firms increased 79.7 percent from 1987 to 1992.
The number of Hispanic-owned firms rose 160.4 percent during the same time
period. The number of businesses owned by Asian and
Pacific Islanders, American Indians, and Alaskan Natives increased 22.2
percent. Eating & Drinking Places industry is the largest small business
employer in Hawai`i, followed by Health Services. The fastest growing industry
for small business is Non depository Credit Institutions. (Office of
Advocacy, U.S. Small Business Administration from data provided by
various Federal and business sources, www.sbaonline.sba.gov/gopher/Local-Information/97Pro/prohi.txt.)
NETWORKING WORKS FOR HAWAI`I SMALL BUSINESS
After a third year in the Pacific Business News' Fastest 50 list, King Sweep,
a commercial janitorial service, attributes its success to its membership
in such organizations as the Honolulu Executive Association and Rotary International.
Owners Bill and Karen Lynden focus on cleaning small to medium-sized business
and use their membership as a marketing tool to
stimulate more referrals for their business - as much as 90% of their referrals
have been garnered in this way. In order to be listed in the Fastest 50
a company must be at least 3 years old, be locally owned and operated, have
annual revenues of $50,000 to $5 million and have been profitable for two
of the last three years. (Pacific Business News, 9 February 1998)
HAWAI`I WORLD TRADE CENTER COULD BE A REALITY
In 1993, the state purchased a license to operate a World Trade Center franchise
in Honolulu. Since then the state has been paying annual dues of $7,000
and wants to start to make the license work for Hawai`i. One idea is to
model a startup center after the World Trade Center California Central Coast
which used U.S. Small Business Administration funds to hire retired international
business people to operate an export consulting service. Initially, the
Center would start small, grow incrementally, have members throughout the
world, and have a goal to generate export dollars for Hawai`i and its business
community. (Pacific Business News, 12 January 1998)
QUARTERLY BUSINESS POLL BEING CONDUCTED BY
SMS RESEARCH
Funded by Bank of Hawai`i and Pacific Business News, and conducted by SMS
Research, the first quarterly Hawai`i Business Poll reveals that taxes are
the primary concern of employers and chief executives in Hawai`i. Secondary
concerns are the economy and government controls on business. Small, medium-sized,
and large companies were polled asking them to name issues they thought
were important and provide feedback on the governor's Economic Revitalization
Task Force. The Pacific Business News will print statistics and other results.
The intent of the poll is the educate the business community, thereby helping
to make their businesses more profitable in the long term. (Pacific Business
News, 2 February 1998)
LARGEST JOB GROWTH IN COMPUTERS; LARGEST JOB
DECLINE IN TYPESETTERS
According to the Monthly Labor Review of the U.S. Department of Labor 1997,
occupations with largest job growth (1996-2000) are expected in the areas
of database administration (118% increase), computer engineers (109%), systems
analysts (103%), personal and home care aides (103%), and medical assistants
(74%). Occupations with the largest job decline (1996-2000) are expected
in the areas of sewing machine operators (garment) (26% decrease), cleaners,
servants in private households (-17%), typists including word processing
(-15%), duplicating, mail and other office machine operators (-24%), and
typesetters and compositors (-75%). (Financial Times, 30 January 1998)
PRESIDENT PROPOSES RECORD LEVEL SPENDING FOR
SMALL BUSINESS
President Clinton's budget for the U.S. Small Business Administration for
Fiscal Year 1999 proposes record levels of lending and technical assistance
for small business. Aida Alvarez, SBA Administrator, said, "this is
the best SBA budget ever proposed for America's small business". Included
in the budget request are nearly $15.3 billion in loan guarantees, loans
and
venture capital financing, $16 million for improved program management,
and a doubling of funding for the Women's Business Center network. This
is a noteworthy recognition by the President of the vital role that small
business plays in the United States. It also represents a high level of
investment in the future of small businesses helping to keep the economy
strong. (U.S. Small Business Administration Press Release, 2 February
1998)
"WHO'S MINDING OUR PRESCHOOLERS?"
As of Fall 1994, 4.5 million of America's 10.3 million preschool children
received primary care from relatives other than their mothers. Fathers cared
for 18 percent; grandparents, 16 percent; and other relatives 9 percent.
6 percent received care from their mothers at their workplace or while they
were working in the home. Other statistics revealed that 29 percent of preschoolers
went to an organized facility (i.e. day care center, nursery school, etc.).
The survey also reveals other statistics
regarding racial and income breakdowns. The report entitled "Who's
Minding Our Preschoolers? Fall 1994" can be found on the Internet at
www.census.gov/population/www/socdemo/childcare.html. (U.S.
Census Bureau Press Release, 14 January 1998)
STATE AND COUNTY POVERTY ESTIMATES RELEASED
BY CENSUS BUREAU
Three 1993 data sets for each state and county total number of poor people,
number of related children ages 5-17 in families in poverty and median household
income originally released in March of 1997, have been revised and re-released.
Figures for Hawai`i indicate that 110,972 (or 9.6 percent) of the total
state population lives at or below federal poverty
standards. Hawai`i County leads the rest of the state with 15 percent of
its population in poverty, Honolulu County at 8.9 percent, Kauai County
at 8.8 percent, and Maui County at 8.6 percent. Other Hawai`i state statistics
estimate 14.9 percent of the people under age 18 live in poverty, 12.5 percent
of children age 5 to 17 in families live in poverty, and 18 percent
of the people age 5 and under live in poverty. The median household income
in Hawai`i is estimated at $39,890. The Internet address for this and more
information is at www.census.gov/hhes/www/saipe93.html. (U.S.
Census Bureau Press Release, 15 January 1998)