Vermont Businesses Exclusively Doing Business in Vermont Express Less Optimism
The Firm has conducted it’s semi-annual survey re the outlook of Vermont businesses. Some interesting conclusions were drawn from the results of this most recent survey (January 2015) worth noting:
- Confidence in U.S. economy climbs, while confidence in VT economy drops
- VT businesses doing business outside of VT more optimistic than those exclusive to VT
- Finding qualified employees, taxes, health care remain as key issues for 2015
The key issues business owners feel they will face in 2015 are health insurance costs, tax law changes, and finding qualified employees, which are consistent with last year’s answers. Across the board, business owners are reporting that high taxes and the rising costs of health care are making it difficult to stay competitive with neighboring states.
“Frustrated business owners see the correlation between increased taxes on individuals and the lack of qualified employees”, said managing partner John Davis. “The existing tax structure in the state of Vermont makes it difficult for employees to stay put in the state and just as challenging for qualified employees to relocate to our state. Interestingly, it also appears that those businesses headquartered in Vermont, but also doing business outside of the state are more optimistic about the Vermont economy than those who are exclusively doing business in Vermont.”
- 52% of VT businesses exclusive to VT believe the VT economy is declining; 17% feel that it is improving.
- Only 25% of VT business doing business outside of VT believe the VT economy is declining; 24% feel that it is improving.
To view the complete press release visit: http://www.dh-cpa.com/client_media/files/pdf/BizSurveyJan2015.pdf.
To view survey results visit: http://survey.constantcontact.com/survey/a07eadq3646i4mysxyh/results.
Finally, congratulations to the five, randomly-selected survey respondents and winners of the $25 Amazon gift cards:
- Lisa Ransom, Grow Compost of Vermont, Waterbury, VT
- Dwayne Wall, Creative Labels, South Burlington, VT
- Glenn Foster, Columbia Forest Products, Newport, VT
- Rob Cunningham, Vermont ETV, Colchester, VT
- Hank Gintof, Signature Properties of Vermont, Essex Junction, VT