Pa. business owners feeling better about profits, sales

Pennsylvania business owners are feeling more upbeat about their company’s prospects, a new survey for PNC Bank finds.
A slightly higher percentage of owners of small and medium-size companies said they expect higher sales and profits than when they were last surveyed six months ago.
But don’t expect the optimism to translate into much additional hiring. Eight in 10 of the 150 company owners surveyed said they don’t plan to expand their workforce. Just 11 percent said they plan to hire more full-time workers, and that’s down from 19 percent last fall.
Current employees shouldn’t count on getting a raise, either. Only 29 percent of the business owners surveyed said they’re planning on giving their workers a raise. That’s down from 30 percent in October.
Meanwhile, 43 percent of business owners said they expect to increase sales. That’s up from 39 percent last fall, and the highest percentage since 2012, PNC said.
Thirty-six percent forecast higher profits, compared with 35 percent six months ago.
Overall, 80 percent of those surveyed said they are optimistic about what’s ahead for their company, up from 78 percent six months ago.
The survey was conducted between Jan. 22 and March 11. It has a margin of error of plus or minus 8 percent.

 

 

 

 

 

 

About Gary Haber

Gary covers York County business for the York Daily Record/Sunday News. Contact me with business news at ghaber@ydr.com or (717) 771-2029.
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