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VT Business Owners Identify Key Areas of Concern

February 19, 2018

WILLISTON, Vt., February 19, 2018 – Over 130 Vermont businesses completed the latest semi-annual economic survey in January regarding the outlook of Vermont’s small- to medium-sized businesses. 71% of those business owners who responded have fewer than 25 employees. The survey, presented by Davis and Hodgdon Associates CPAs and the Vermont Chamber of Commerce, revealed that while business owners share an increased level of optimism about the U.S. economy, they do not have the same enthusiasm for Vermont’s economy. There remains a strong desire to see changes made to Vermont’s tax laws and overall business climate.

• 27% of businesses exclusive to Vermont believe the state’s economy is improving (compared to 34% previously); 27% feel it is in decline (compared to 14% in January) and 44% indicate there is no change (compared to 37% previously).

• For businesses with out-of-state interests, 25% believe the state’s economy is improving (19% previously); 33% of businesses believe the state’s economy is in decline (compared to 21% previously) and 32% see no change (46% previously).

Responses to the question of the Vermont economy were similar for all counties throughout the state, including Chittenden county businesses.

• 25% of Chittenden county businesses describe Vermont’s economy as improving. 23% of respondents in all other Vermont county businesses shared this level of optimism.

• 32% of Chittenden county businesses and 34% of all other counties see Vermont’s economy in decline. In July, only 17% of those in Chittenden County and 19% of all other counties perceived the Vermont’s economy to be in decline.

• 37 % of Chittenden county businesses believe that there has been no change in the economy versus 34% of all other county businesses.

To view the complete press release please click here.

To view the survey results please click here.