Nebraska businesses have a positive outlook for the economy in coming months, according to a February survey by UNL’s Bureau of Business Research.
Nearly three out of 10 respondents predict increased sales in the next six months. Further, 13 percent of businesses expect to hire more workers while just 5 percent expect to reduce employment.
In response to an open-ended question about the most important issues facing their businesses, 6 in 10 owners cited business concerns such as customer demand, competition, and costs, while 4 in 10 cited public policy issues such as taxes, the Affordable Care Act, and government regulations.
Eric Thompson, director of the Bureau of Business Research, called it a positive response.
“The outlook improved from the January survey,” he said, “and businesses were especially positive about expanding employment.”
The Survey of Nebraska Business is mailed each month to 500 randomly selected local businesses of all sizes, asking owners and managers about their economic expectations for the next six months. They are also asked to list top concerns facing their businesses. The February survey had 88 respondents, for an 18 percent response rate. The response rate was low compared to the typical survey month but sufficient for analysis.
Recipients were asked: “During the next six months do you expect that your dollar sales volume at your business will be higher, lower, or about the same as it was over the last six months?”
In response, 28 percent said they expected sales to increase, compared to 24 percent who expect lower sales. About half of respondents expected sales to remain the same.
The survey also asked “During the next six months, do you expect that the total number of employees at your business will increase, decrease or stay the same?”
Most respondents expected no change in employment.
A detailed report on the survey is available on the Bureau of Business Research web site, www.bbr.unl.edu
