A new study conducted by Siena College Research Institute on how CEOs in upstate New York feel about the prospects for their businesses shows that many are not very optimistic.
According to Don Levy, director of the institute, 67% of CEOs say business conditions are getting worse, 29% say things remain the same, and only a minority think business prospects are improving. It is said to be 4%.
Levy said negative feedback from upstate CEOs about how they view their current and future business conditions is the lowest in the 17 years Siena has conducted the survey.
Levy said among the many complaints from business people are questions about how the state government is run and how it is impacting commerce.
“They still feel that way, and this is anecdotal, but some of them actually wrote in the margins of the survey that they were tired of being Albany's piggy bank,” Levy said. Told. “So they feel like they're under-supported and over-regulated and over-taxed.”
Levy said the impact of high inflation also remained a drag on business, based on recent research.
“They feel trapped. On the one hand, they feel like the rising costs of their suppliers, for example, are having an impact,” Levy said. “But when asked what they plan to do this year, more than a third now say they plan to raise prices to increase profits and feel overwhelmed by inflation.”
Levy said business leaders in the Rochester-Finger Lakes region are less pessimistic than those in other parts of New York, especially when looking to the future of their companies.
But he said, like elsewhere in the state, local business leaders are concerned about having enough qualified workers to fill job openings.
“83% of CEOs we spoke to in the Rochester area said there is not an adequate supply of trained employees who can jump in and contribute from day one,” Levy noted. It is currently a major obstacle to their success. ”
On the plus side, Levy said a recent survey showed that Rochester area business leaders rate Finger Lakes tourist attractions highly, one of the big positives for the region. Ta.
