The annual business Outlook Survey conducted by NJBIA has been released with good news and concerns for 2017. Here’s a summary of items with links to the full report as completed by NJBIA. Overall Summary: Members expect sales, profits and hiring to increase during 2017. The biggest concerns are the cost of doing business in NJ, health benfits, and property taxes. Nothing New here….! One major item that should be noted is that two thirds of members indicated a $15 minimum wage will definitly impact their business.
- Employment – 20% increase in employment
- Sales – 38% belive sales will raise.
- Profits – 31% belive profits will increase.
- Dollar Value – 27% belive their dollar value will increase.
- Wage Increases – 69% of memebers will give wage increases.
- Concerns: Health Insurance – 81% of member’s believe health insurance will increase over the next year with 64% indicating they have been negatively impacted by the Affordable Care Act.