Chamber Poll Finds Optimism Among Businesses in Southwestern Vermont
Patrons enjoy fresh coffee and treats at the new The Coffee Bar which opened in early February in downtown Bennington, Vermont
The Southwestern Vermont Chamber of Commerce recently polled their membership on their optimism for the New Year. Eighty five percent of businesses and organizations polled indicated they were either optimistic or very optimistic for their business in 2022.
“I was actually quite surprised,” said Matt Harrington, executive director of the Chamber. “There’s been so much doom and gloom over the past few years and most recently with the Omicron spike, supply chain and staffing issues, I thought our businesses would be slightly more pessimistic. Fortunately, we’ve got some terrific small business owners and they are generally excited about the New Year.”
The poll had over 60 business owners and nonprofit organizations participate. The poll was sent to Chamber members on Tuesday and concluded Tuesday night.
How the poll numbers break down:
On a scale from 1 to 5, how optimistic are you for your business in 2022?
64% indicated ‘optimistic’
21% indicated ‘really optimistic’
15% indicated ‘in between not optimistic and optimistic’
No participant indicate ‘not really optimistic’ and ‘not optimistic at all’
On a scale from 1 to 5, how optimistic are you about Vermont's economy in 2022?
56% indicated ‘optimistic’
3% indicated ‘really optimistic’
31% indicated ‘in between not optimistic and optimistic’
10% indicated ‘not really optimistic’
0% indicated ‘not optimistic at all’
What are the top issues that are impacting your business success right now?
36% indicated ‘Workforce issues (hiring, staffing, housing, childcare)’
21% indicated ‘COVID pandemic’.
15% indicated ‘General business climate in the area’
11% indicate ‘other’ which included supply chain, climate change, and low inventory
8% indicated ‘Demographic challenges in the region’
8% indicated ‘Financial limitations’
8% indicated ‘Looming recession’
8% indicated ‘ New start up; growing pains’
Rounding out the bottom half of the issues included ‘Demographic challenges in the region,’ ‘New start up; growing pains,’ ‘Locating customers,’ ‘Permitting; governmental requirements,’ ‘Business location,’ ‘Thin margins that impact’
On a letter grade scale of A to F, how do you feel your business or organization is doing in terms of current financial health?
13% indicated A (excellent)
12% indicated A- (really good)
43% indicated B (successful)
11% indicated B- (temporarily successful)
18% indicated C (ups and downs)
3% indicated C- (more downs than ups)
0% indicated D, D- or F (closure imminent)
Do you feel that your business or organization is doing financially better or worse than it was 1 year ago at this time (2021)?
57% indicated ‘Better’
33% indicated ‘Same’
7% indicated ‘Worse’
3% indicated it was their first year open
Do you feel that in general Southwestern Vermont is still a good place to have a business/organization?
97% indicated ‘Yes’
3% indicated ‘No’
Harrington concluded, “Perhaps most impressive to me and the leaders in the region is how optimistic businesses are about doing business in Southwestern Vermont. Ninety seven percent of participants indicated that despite the pandemic and challenges of running a business, they still believe that this region is a great place to have a business.”
The Southwestern Vermont Chamber of Commerce promotes, leads and advocates a unified effort, on behalf of its members, to maintain and improve a healthy business climate and rewarding quality of life for the entire Shires of Southwestern Vermont region.