First step forward needs positive outlook

More than half a decade after first feeling the effects of the Great Recession, Rhode Island’s business community seems to believe the state’s economy is on a sustainable positive trajectory. More

To continue reading this article, please do one of the following.



PBN Editorial

First step forward needs positive outlook

Posted 1/13/14

More than half a decade after first feeling the effects of the Great Recession, Rhode Island’s business community seems to believe the state’s economy is on a sustainable positive trajectory.

That conclusion is thanks to Providence Business News’ 12th Business Survey, our biennial survey that asks private, for-profit enterprises in the Ocean State to answer a few questions about their performance, their expectations and their attitudes.

Business executives set record highs when asked if they expected the state economy to improve in the next 12 months as well as if they had a positive outlook on their own companies for the coming year, with nearly three-quarters of respondents looking for statewide gains and two-thirds planning for a better year.

The vision for the state showed an especially strong rebound from the worst part of the recession. When asked the same question five years ago, not even one in five executives said that they expected improvement for the overall Rhode Island economy in the next year.

Perhaps the strongest evidence of improving attitudes is the willingness of local business to invest – in people and equipment. For the first time in the survey, more than half of respondents said that they expected to hire someone within the next quarter, and also for the first time, more than 30 percent said that they expect to make a significant capital expenditure in the next quarter. A positive attitude is nice, but spending money is the real deal.

Not everything came up roses in the survey, but for a few moments at least, let’s enjoy the moment. Perhaps it really is the turning point. •

Calendar
PBN Hosted
Events

Save the Date - Thursday, May 29th - for the Business Women Awards Luncheon at the Providence Marriott. Winners to be announced May 2nd.
  • Manufacturing Awards
    Only a few seats remain for PBN's Manufacturing Awards Dinner and Ceremony, Thur ...
  • 40 Under Forty
    It's the 10th Anniversary of 40 Under Forty, and PBN is planning a special event ...
  • Healthiest Employers
    Enrollment now open for the 2014 Healthiest Employers Program. Please take a mom ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News