If you’re a regular reader of Providence Business News it would appear that you are in pretty good company.
You like the theater and music, are well educated, believe that technology is having a significant impact on you personally and in your business, and are either in top management or own your company.
You’re involved in the stock market, dine out frequently, and golf more than occasionally.
These are some of the findings in an extensive survey of a sizable sampling of Providence Business News readers that was conducted recently by a professional research firm. Every few years we survey a sampling of readers that helps us in a variety of ways, as we try to cover those areas in which you have the most interest.
I thought it would be interesting to share some of the results.
A third of you (34 percent) said your total household net worth is more than a million dollars (4 percent over $5 million). Well over half, 61 percent said their household net worth exceeds $500,000. And the homes you live in are above average, with 64 percent with market values over $200,000; 39 percent of those with houses valued over $300,000; and 2 percent live in houses with market values in excess of $1 million.
You are educated, with only 6 percent with high school degrees or less, and 76 percent of you with undergraduate college degrees, graduate and professional degrees. Some 21 percent of you have master’s degrees, 2 percent doctorates and 5 percent professional degrees.
You invest in the stock market — 70 percent of you plan to buy or sell stocks, bonds, annuities or mutual funds in the next year.
You are avid theater/concert goers (72 percent), attend sporting (71 percent) and charitable events (66 percent), play golf (49 percent), and exercise at a health club (37 percent).
That’s some of the personal stuff. Now about your businesses. I was particularly impressed, in this fast-paced technological marketplace that many of our businesses have been here for more than three decades.
The most popular benefits your companies provide are: major medical (68 percent), dental (65 percent), life insurance (60 percent), retirement plan (55 percent), HMO plan (51 percent).
Over the next year 74 percent of your companies will pay for continuing professional education or training for at least some employees.
You are computer savvy. Some 88 percent use the Internet, and another 8 percent expect to start using the Internet over the next year. The rest of you must live and work in a cave.
Many of you anticipate either relocating your companies or expanding office space over the next year and a half – 22 percent, with another 15 percent not sure.
And while we continue to talk about the decline in manufacturing, it was number one when asked to best describe the nature of your company’s business. Some 12 percent said manufacturing, followed by banking, finance, investments at 11 percent.
We are indeed an area of small businesses. Nearly 65 percent of your companies have less than 50 local employees. Only 9 percent have more than 500 local employees.
Four percent of you are in companies that gross more than a billion dollars a year, and 51 percent of you are in companies that gross less than $3 million a year.
So what do I make of all of this? I don’t know yet. But we’re just pleased that whether you’re a farmer, salesperson or owner of the area’s largest corporation, you find value in our publication. We’re pleased that 44 percent of you consider us your primary source for local business information, substantially more than any other print or electronic media outlet.
But probably the finding I’m most proud of is that 65 percent of you strongly believe that Providence Business News is a good value for your money, none of you said it was poor value for your dollar, and the rest fell somewhere in between.
We’ll continue to try to maintain your confidence in us.
