And the Survey Says...
February 3, 2010
A recent Greater Decatur Chamber of Commerce Business Confidence Survey polled members about their 2009 profits and projections for the coming year. Despite the dire economic predictions for last year, the poll numbers indicate it was not as bad out there as expected.
Eighty-three members responded to the survey, representing both large and small area employers. Slightly less than half of the respondents (49.4%) were engaged in service-type businesses. The balance represented retailers (20.48%), manufacturers (4.82%) and "other" industries (25.3%).
Nearly 41 percent of respondents indicated their 2009 revenues showed an increase over their 2008 revenues. Almost 11 percent of these businesses described this increase as "significantly up." Around 12% indicated their revenues stayed roughly the same as 2008 and close to 47% reported a decrease in revenue over the previous year. However, over half of the respondents indicated they hired new employees in 2009 -- with eight respondents reporting that they hired over 10 new employees over the course of the year.
Regarding business plans for 2010, local businesses are optimistic that the new decade will bring renewed prospects for growth. Nearly half of the respondents (49.4%) indicated plans to expand their businesses in 2010. The majority of the rest (43.37%) planned on maintaining the status quo. Very few plan on downsizing this year.
When asked for comments regarding what it would take to help their companies grow in 2010, many respondents cited availability of financing, consumer confidence, and an improved local economy.
The Greater Decatur Chamber of Commerce is dedicated to improving the local business climate. Please let us know what we can do for you!
