Firm Conducts Business Economic Survey Re Future of Vermont Businesses
Williston, VT February 24, 2014 – The Certified Public Accounting firm of Davis & Hodgdon Associates CPAs located in Williston, Vermont, conducted its semi-annual economic survey in January regarding the future of Vermont-based businesses. The survey, customized by the Firm to evaluate small- to medium-sized business, is based on one originally developed by the Vermont Business Roundtable. The survey was completed by more than 160 businesses, nearly double that of the *August 2013 survey, located throughout the state and primarily in Chittenden (48%) and Washington (14%) counties, but also in Windsor (11%) and Windham (6%), among other counties.
Respondents were asked to forecast their company sales, capital spending and hiring intentions for the next six months. They were also surveyed to describe the current state of the economy, identify key issues for their business in 2014, as well as list business issues that they would like to see addressed by the Vermont legislature in 2014.
Vermont industries surveyed included professional and technical, manufacturing, retail, finance and insurance, health care and social assistance, construction, hotel and restaurant, transportation and warehousing, educational services, agriculture, information, utilities, and wholesale trade.
When asked to analyze the results, Davis & Hodgdon’s partner, John Davis explained, “The current state of healthcare laws and tax reform remain as the biggest of concerns for business owners in 2014.” Davis continued, “Owners are frustrated with the current state of each and they want to see legislative reform that will make it easier to do business in the state, attract more businesses, thus creating more jobs for Vermonters. Conversely, I’ve noticed a more optimistic economic outlook among the business owners. Currently, 55% of owners are forecasting an increase in sales over the next six months, up from the 38% who predicted the same in August. While the outlook of Vermont’s economy remains similar to results garnered in August, the outlook of the country’s economy is looking brighter. 53% of owners feel that it is improving up from the 44% who felt the same in August. On the other hand, only 13% feel that the country’s economy is declining, down from 22% in August.”
To view the complete press release including survey results please visit: http://www.dh-cpa.com/client_media/files/pdf/BusEconomicSurveyJan2014.pdf
Davis & Hodgdon Associates has been assisting individuals and businesses in the Burlington Vermont Metro area for more than 20 years. If you have any questions or concerns please feel free to call 802.878.1963 or email [email protected].