CSRA Biz Owners Report Economic Stability and Growth
According to 4 out of 5 responding members of the Augusta Metro Chamber of Commerce, the economy appears to be stabilizing or growing in their own business. Chamber President Sue Parr recently completed a co-op survey with the University of Georgia Small Business Development Center at Enterprise Mill.
Here are the major findings:
- 79% of companies surveyed reported either stable, slight increases or substantial increases in revenues in the last 12 months. Expectations for the next two years are comparable.
- 50% of businesses responding indicated that their business has received some type of financing in the last 12 months. The source of funding was split fairly evenly between commercial lending and personal savings and the greatest use of the financing was for working capital and new equipment.
- The top two barriers to growth were economic uncertainty and finding qualified workers. A close third were federal regulations most likely related to the Affordable Health Care Act.