Hampshire First Survey Indicates Business Executives Optimistic

Hampshire First Bank (www.hampshirefirst.com) announces the release of its third annual Business First Report. The report comprises results of the Business First Survey, which took place throughout April and concluded May 11. Business people throughout NH responded to questions relating to industry profile, economic outlook, employee benefits, business expansion, business management, environmental concerns and marketing practices. The Business First Survey revealed that approximately 84 percent of businesses predict the national economy will either improve or stay the same in 2012.

Results were shared with an online audience of business leaders in a Hampshire First Bank webinar hosted by Fred Kocher, president of the New Hampshire High Technology Council, President of Kocher & Company, Inc., and host of New Hampshire's Business on WMUR-TV. Slides from that are available at slidesha.re/hfb2012.

Respondents representing corporations and limited liability companies comprised more than 59 percent of respondents, and 88 percent of respondents represented small businesses, consisting of 100 or fewer employees, as defined by the SBA. Businesses from 36 broad classifications including banking and finance, real estate, construction, health care, legal and non-profit encompassed the majority of respondents.

The most significant factors revealed by the Business First Report included improved attitudes regarding NH's economic outlook and the nature of doing business in the state, business expansion, and health care changes. Respondents were asked to rate their perceptions of the regional economy over the past 12 months, and the survey results showed that 78 percent believe that the regional economy has improved or stayed the same, consistent with 83 percent in last year's survey.

Fully 40 percent of businesses also indicated a desire to increase their capital expenditures in 2012, another measure of projected growth and optimism.

Regarding current events, 44 percent of respondents said that uncertainty surrounding the November elections are affecting their businesses and 28 percent agree or somewhat agree that they are waiting until after the election to make important business decisions.

While this year's survey results do not point to a significant shift from last year, the responses are in line with what I have seen in the business community, said Kocher.  The results show that businesses are confident, albeit somewhat cautious, about expansion and that is positive news because jobs accompany expansion.

The Business First Report shows that our state's businesses are continuing to gain confidence about the future, and we are pleased to be a resource to the business community, said Hampshire First Bank President and CEO Jim Dunphy.

For more information about Hampshire First Bank, visit www.hampshirefirst.com.