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Continued Economic Uncertainty Keeping California Small Business Owners Awake at Night



  Continued Economic Uncertainty Keeping California Small Business Owners
  Awake at Night

 California Bank & Trust Benchmark Survey Also Reveals Concerns about Revenue
                                  and Hiring

Business Wire

SAN DIEGO -- May 6, 2013

What’s keeping California’s small business owners awake at night? Economic
uncertainty and concerns about revenue and cash flow, according to the results
of a survey of 558 small business respondents in California conducted by 
California Bank & Trust (CB&T). Small business owners cited “continued
economic uncertainty” as their chief concern related to owning and operating a
small business in California. The overwhelming majority, some 81.8 percent,
said California’s economic environment presents a challenge to their small
business, vs. an opportunity.

Tory Nixon, California Bank & Trust Executive Vice President (Photo: Business
Wire)

Tory Nixon, California Bank & Trust Executive Vice President (Photo: Business
Wire)

California Bank & Trust fielded its second-annual benchmark survey to gauge
the thoughts and opinions of California’s small business owners in 2013. The
survey was conducted in April asking for perspective on the challenges and
opportunities for small businesses in California. “We understand that small
businesses are the backbone of our state’s economy,” says Tory Nixon,
California Bank & Trust Executive Vice President,  for the bank. “It’s
important for us to get first-hand insight about their concerns when it comes
to operating a small business in California. While we know that economic
uncertainty remains, we are also encouraged by the resilience and dedication
we see in our small business community. Understanding their needs and concerns
helps us to provide service in a way that is more valuable and meaningful to
them.”

Small Business Owners Uneasy About Cash Flow, Hiring

The California Bank & Trust survey also revealed concerns about managing cash
and revenue for the businesses. “Cash flow and revenue” ranked top among the
concerns from respondents, while “uncertainty in the economy” ranked second
and “employee hiring and retention” was third. Meanwhile, nearly 66% of
respondents said they did not have plans to hire additional employees in 2013,
with about 40.2% citing “economic uncertainty” as the chief rationale for not
hiring.

Banking Relationships Seen as Part of the Solution

While fewer small business owners cited a need for added capital in 2013
(46.3%) vs. 2012 (56%), the overwhelming majority do depend on their banking
relationship for guidance and success. Some 81.4% described their banking
relationship as either “very important” or “somewhat important,” while just
18.6% described it as “not important.” Thirty-one percent of small business
operators said their bank is “knowledgeable and responsive” when it comes to
their relationship. “Our goal at California Bank & Trust is to understand the
customer’s business as well as they do,” says Nixon. “With a fundamental
understanding of their business, we are able to provide the kind of customized
service that will help them succeed. Although there is continued economic
uncertainty among small business owners, we continue to provide resources that
can help them become and remain strong. We’re confident that things are
improving in the long run and we want to help our small business customers be
part of the ongoing improvement in the great state of California.”

About California Bank & Trust

California Bank & Trust, a subsidiary of Zions Bancorporation (NASDAQ: ZION),
is one of the largest banks headquartered in California with over $10 billion
in assets and nearly 100 branches statewide. CB&T provides a full array of
financial solutions for businesses and individuals, including commercial and
small business lending, cash management, international banking and wealth
management. The professional bankers at CB&T are backed by major resources,
yet maintain local-decision making authority and regional market and industry
expertise. They are committed to providing clients with valuable business and
economic insights and to connecting them with the beneficial business
relationships they need to succeed. CB&T is consistently rated by the FDIC as
“outstanding” for its Community Reinvestment Act activities and is a Preferred
SBA Lender. To learn more, visit www.calbanktrust.com. Connect with California
Bank & Trust on Facebook, Twitter and LinkedIn.

About the Survey

California Bank & Trust surveyed 558 respondents in California online in
April, 2013. The small businesses were defined for the survey as having $10
million or less in annual revenues. For the complete findings of the survey,
please click: http://www.calbanktrust.com/smallbiz

Media Please Note:

For further detail about California Bank & Trust’s survey, Small Business
Banking, or to schedule an interview with Tory Nixon, or to request
high-resolution photography or video, please contact Tarah Beaven at Landis
Communications, Inc.: (415-359-2306; tarah@landispr.com) or Rob Farmer at
Landis Communications, Inc. (415-359-2316; rob@landispr.com).

Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20130506006515/en/

Multimedia
Available:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50625455&lang=en

Contact:

Landis Communications, Inc.
Tarah Beaven, 415-359-2306
tarah@landispr.com
Rob Farmer,  415-359-2316
rob@landispr.com
www.landispr.com
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