Almost three out of four companies expect revenue growth and nearly two-thirds predict increased profits for their business in the year ahead, according to the 2011 Chase Economic Outlook Study. Half of the companies surveyed said they expect to hire full-time permanent employees in the next 12 months.
While optimistic about their own company’s prospects, most were more guarded about the national economy. Thirty-nine percent of the companies report an optimistic outlook on the national economy.
“Our survey shows business executives across the country are optimistic about their company’s outlook and many expect to add to their corporate payrolls over the next 12 months,” said Todd Maclin, chief executive officer (CEO) of Chase Commercial Banking. “The survey results are encouraging and informative, but also show we have obstacles to overcome.”
Chase Commercial Banking surveyed senior financial decision makers at nearly 700 US companies with revenues ranging between US$10m and US$500m annually. This is the first year Chase has surveyed commercial banking clients and prospects to gauge their outlook on the economy and expectations for the year ahead.
Survey participants talked about their own businesses:
- Almost three-quarters (72%) expect to achieve revenue growth and 62% expect higher profits in next 12 months.
- Half plan to hire additional full-time, permanent employees.
- Forty-two percent anticipate investing more in their businesses with increased capital expenditures.
- Forty percent plan to borrow more in the next 12 months and 7% will borrow less.
They also addressed national issues:
- Thirty-nine percent are optimistic about the national economy.
- Forty-two percent expect interest rates to rise significantly over the next 12 months.
- Two-thirds say the regulatory environment is making it more difficult to expand and hire new workers.
- Fifty-nine percent view the recently passed health-care legislation as an impediment to hiring.
- Seventy-two percent are very concerned about rising health-care costs.
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