Davis & Hodgdon Associates, conducted an Economic Survey developed by the VT Business Roundtable earlier this month regarding the future of Vermont-based businesses.
More than 50 Respondents were asked how they anticipated their companies’ sales changing over the next six months. Over half (55%) foresaw their sales increasing by 10% to 30%. Only 10% estimated that sales would decrease by the same percentage range. Approximately 31% believe their sales levels will remain the same for this period.
When asked to forecast their companies’ capital spending over the next six months, 56% indicated they would see decreases of over 70%. Only 34% indicated they would increase their capital spending.
On the employment front, 46% of the businesses surveyed responded that they did not anticipate any changes in their companies’ employment levels over the next six months. However, 38% intend to hire one to three people in the same time period. Only 4% of respondents indicated they will decrease hiring by three to ten people.
“The waters appear calm and this is significant in terms of moving forward,” shares John Davis, Davis & Hodgdon’s managing partner. He continues, “These economic indicators, based on a sampling of thriving Vermont-based organizations doing business in- and out-of-state, show promise. Sales are projected to increase, employment is stable and businesses are still remaining prudent with capital spending somewhat decreasing. We also see that business owners are demanding the Governor address important issues like healthcare costs and improved broadband service. All of this bodes well for our state’s economic future. Compared to some other states, I believe we are in an enviable position to move forward.”
For complete results visit: Economic Survey Reults