The latest Richmond Events' business panel report is now available. Please read on for headline findings and to download the full report.
Avamarie Warden | 4/11/2016
- Only 3% of the panel expect the economy to grow significantly over the next 12 months, whereas just less than ½ expect it to have shown some signs of growth. Of
the remaining, just over a third expect the economy to stay much the same as now
in the same time period, whilst 15% expect it to shrink a little and 2% shrink a lot.
- The figures for 3 years’ time show more optimism. 17% of the panel expect the
economy to have grown significantly whilst a further 63% expect it to have grown
marginally. Only 8% expect it to shrink a little, yet 4% expect it to shrink
- There’s little optimism for the panel’s own industry sector, with the highest
proportion, just over a third, not expecting much change, closely followed by those
not expecting it to do (quite) well.
- On the whole, the panel seems far more positive about their own organization than
they do about their wider industry sector, with the highest proportion expecting to
see steady growth.
- The highest proportion of the panel have reduced headcount and may do so again,
with a further 10% having reduced it though not expecting to do so again.
- The one area that bucks this trend is Sales, with 52% of organizations looking to
increase headcount in this area, versus only 18% looking to reduce it. Marketing is
the only other area with a higher increase than decrease.
- 64% of the panel feel their revenues will increase over the next 12 months with
57% feel their profits will do likewise.
- Only 22% expect to see their budget increase compared to 26% who expect it to see
it go the other way. The rest, 51%, don’t see it changing.
- 20% of organizations expect to move some part of their business outside the US
over the next 2 years. The most popular destinations are South / Central America