Vermont Business Owners Identify Key Areas of Concern

WILLISTON, Vt., August 14, 2017 – Nearly 150 Vermont businesses completed the latest semi-annual economic survey in July regarding the outlook of Vermont’s small- to medium-sized businesses. The survey, presented by Davis and Hodgdon Associates CPAs and the Vermont Chamber of Commerce, revealed that business owners inside and outside of Chittenden county share a slightly increased level of optimism about the state’s economy. There is also a continued desire to see improvement in Vermont’s business climate and tax laws.

• 34% of businesses exclusive to Vermont believe the state’s economy is improving (compared to 18% previously); 14% feel it is in decline (compared to 18% in January) and 37% indicate there is no change (compared to 61% previously).

• For businesses with out-of-state interests, the responses were nearly identical to those in January. 19% of businesses believe the state’s economy is improving (19% previously); 21% of businesses believe the state’s economy is in decline (compared to 24% previously) and 46% see no change (46% previously).

Interestingly, responses to the question of the Vermont economy were similar for Chittenden county businesses and all other counties.

• 20% of Chittenden county businesses describe Vermont’s economy as improving. 24% of respondents in all other Vermont county businesses shared this level of optimism.

• 17% of Chittenden county businesses and 19% of all other counties see Vermont’s economy in decline.

• 51 % of Chittenden county businesses believe that there has been no change in the economy versus 42% of all other county businesses.

When asked to describe the current state of the U.S. economy, 42% feel it is improving (49% in January), 18% believe it is declining (versus 12% in January), and 32% see no change at all (versus 31% in January).

For the full press release including results please click here.