![]() A net 1% reported that their last loan was harder to get than in previous attempts. One percent of owners reported that financing was their top business problem. Twenty-seven percent reported all credit needs were met and 59% said they were not interested in a loan. Two percent of owners reported that all of their borrowing needs were not satisfied. For owners reporting higher profits, 68% credited sales volumes, 12% cited usual seasonal change, and 7% cited higher prices. Sales have not yet improved enough for owners to report higher earnings.Īmong those owners reporting lower profits, 46% blamed weaker sales, 15% cited the usual seasonal change, 10% cited a higher cost of materials, 5% cited labor costs, 5% cited lower prices, and 4% cited higher taxes or regulatory costs. The frequency of reports of positive profit trends declined four points to a net negative 15% reporting quarter on quarter profit improvements. Price hikes were the most frequent in wholesale (65% higher, 5% lower) and retail (48% higher, 5% lower). A net 34% (seasonally adjusted) plan price hikes. Eight percent of owners reported lower average selling prices and 36% reported higher average prices. The net percent of owners raising average selling prices increased one point to a net 26% (seasonally adjusted). A net 4% of owners plan inventory investment in the coming months, up two points from February. A net 3% of owners view current inventory stocks as “too low” in March, down two points but remaining at historically high levels. The net percent of owners reporting inventory increases decreased two points to a net negative 5%. The net percent of owners expecting higher real sales volumes improved eight points to a net negative 0%. Owners are not planning on investing in their businesses as expected future sales and business conditions remain below average.Ī net negative 6% of all owners (seasonally adjusted) reported higher nominal sales in the past three months, down eight points from February. Twenty percent of owners plan capital outlays in the next few months, down three points from February. Six percent acquired new buildings or land for expansion and 11% spent money for new fixtures and furniture. ![]() Of those making expenditures, 41% reported spending on new equipment, 26% acquired vehicles, and 14% improved or expanded facilities. Finding eligible workers to fill open positions will become increasingly difficult for small business owners.įifty-nine percent of owners reported capital outlays in the next six months, up two points from February. Seven percent of owners cited labor costs as their top business problem and 24% said that labor quality was their top business problem. A net 17% plan to raise compensation in the next three months, down two points.
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