In a recent Q4 2016 Vistage CEO Confidence Index survey, CEOs of small to mid-size businesses expressed great optimism about economic growth for 2017. With this optimistic look on growth, the most significant issues shared by CEOs was the urgency to find, hire, train, and retain employees.
Economic and Investment Growth
Out of the CEOs surveyed, an astounding 58% expected the economy to improve during 2017, which is more than twice the 22% recorded in the 3rd quarter of 2016. A 47% increase in plant and equipment investments was also received as part of the survey, which represented the largest quarterly percentage gain in net investment intentions since the start of 2013.
Workforce and Profit Growth
With almost 60% of the CEOs surveyed planning to expand their workforce, 2017 is set to be the most positive new employment intentions in ten years. Revenue growth is expected by 78% of the CEOs surveyed, which is the best expectation recorded in the past ten years. And most importantly, profit margin growth is expected by 64% of all CEOs surveyed.
New York Survey Highlights
Below are some of the New York highlights from the Q4 Vistage CEO Confidence Index. [1]
51% of New York Vistage CEOs expect the economy to improve in the year ahead.
36% of New York Vistage CEOs expect to increase investments in the year ahead
75% of New York Vistage CEOs expect to increase revenue gains in the year ahead
36% of New York Vistage CEOs thought the national economy had improved in the past year
53% of New York Vistage CEOs plan to expand their workforce in the next year
60% of New York Vistage CEOs expect rising profits in the year ahead
The confidence survey results shared above, are excellent news for CEOs of companies in the New York region. Growth has definitely arrived, and 2017 seems to be the year to take action and move your business from $10M to $100M.
It’s Time to Scale-Up Your Business
If you’re a CEO located in Manhattan, and you’re looking to scale-up your business, please check my 2017 Vistage Event Calendar, and let me know what event you’d like to attend. I’d love to personally shake your hand, and learn more about your business goals.
[1] Vistage CEO Confidence Index
