Survey Results: Future of Vermont Businesses

Davis & Hodgdon Associates CPAs Conducts Survey Re Future of Vermont Businesses

* Sales Levels and Capital Spending Increases for Many; Remains Steady for Most
* Employment Status Remains Stable
* VT Economy Unchanging; U.S. Improving Slightly
* Demands for VT Legislators to Address Healthcare and Regulatory Issues

Williston, VT September 9, 2013 – The Certified Public Accounting firm of Davis & Hodgdon Associates CPAs located in Williston, Vermont, conducted an economic survey in August 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 nearly 100 businesses located throughout the state and primarily in Chittenden (49%) and Washington (10%) counties, but also in Windham (7%) and Addison (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, as well as list business economic issues that they would like to see addressed by the Vermont legislature in 2013.

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 how they expected their company’s sales to change in the next six months, half (50%) of respondents expected no change in sales while 33% estimated that sales would increase by 10% to 30%.  Only 8% of those surveyed predicted that sales will decrease by the same percentage range.

Respondents were asked to predict their company’s capital spending for the next six months.  59% forecasted no change while 29% predict that their spending will increase by 10% to 30% and only 5% expect a decrease in spending within the same percentage range.

*A previous survey conducted by the Firm in January 2012 indicated that more than half of those Vermont businesses surveyed (56%) intended to decrease capital spending by over 70% for the following six months, compared to the more optimistic results as indicated in this most recent survey.  Moving forward the survey will be conducted semi-annually allowing for further, meaningful comparison with the next survey occurring in January 2014.

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