Overall Survey Results:


Davis & Hodgdon Associates Semi-Annual Economic Survey


1Please check the top three issues facing your business in 2020:
 
Answer
0%100%
Number of
Responses
Response
Ratio
Overtime compensation changes
   
2 1.4%
Minimum wage changes
   
20 14.3%
Federal Taxes
   
18 12.9%
Vermont Taxes
   
51 36.6%
Health insurance costs
   
76 54.6%
Finding qualified employees
   
96 69.0%
Sources of financing
   
8 5.7%
Property tax (education funding)
   
38 27.3%
Internet security
   
17 12.2%
Succession planning
   
29 20.8%
Housing
   
16 11.5%
Other
   
21 15.1%
 Totals139100%

2How would you describe the current state of Vermont's economy?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Improving
   
25 17.8%
No change
   
61 43.5%
Declining
   
36 25.7%
Unsure/Do not know
   
17 12.1%
No Responses
   
1<1%
 Totals140100%
3How would you describe the current state of the U.S. economy?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Improving
   
58 41.4%
No change
   
37 26.4%
Declining
   
28 20.0%
Unsure/Do not know
   
16 11.4%
No Responses
   
1<1%
 Totals140100%
4What is the one key business economic issue that you would like to see addressed by the state legislature?
 
 Number of
Responses
  116
5How do you expect your company's sales to change in the next six months?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Increase by less than 10%
   
51 36.4%
Increase by 10-30%
   
22 15.7%
Increase by 30+%
   
6 4.2%
Decrease by less than 10%
   
15 10.7%
Decrease by 10-30%
   
9 6.4%
Decrease by 30+%
   
1 <1%
No change
   
36 25.7%
No Responses
 
00.0%
 Totals140100%
6How do you expect your company's capital spending to change in the next six months?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Increase by less than 10%
   
34 24.2%
Increase by 10-30%
   
18 12.8%
Increase by 30+%
   
3 2.1%
Decrease by less than 10%
   
8 5.7%
Decrease by 10-30%
   
8 5.7%
Decrease by 30+%
   
4 2.8%
No change
   
64 45.7%
No Responses
   
1<1%
 Totals140100%
7How do you expect your company's employment to change in the next six months?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Increase staffing by 1-3 people
   
41 29.2%
Increase staffing by 3+ people
   
19 13.5%
Decrease staffing by 1-3 people
   
5 3.5%
Decrease staffing by 3+ people
   
1 <1%
No change
   
74 52.8%
No Responses
 
00.0%
 Totals140100%
8Which statements below reflect your mindset about doing business in Vermont over the last 6 months.
 
Answer
0%100%
Number of
Responses
Response
Ratio
I love doing business in Vermont.
   
22 15.8%
While doing business in Vermont has it's challenges, I'm committed to staying here because my customers/ clients/ products/ supply chain/ environment are here.
   
79 56.8%
I have thought about closing my business or moving it out of state
   
31 22.3%
Other
   
11 7.9%
 Totals139100%

9Has Vermont's overall tax burden caused you to consider relocation of your residence in the last 12 months? 
 
Answer
0%100%
Number of
Responses
Response
Ratio
Yes, plans were put in motion
   
24 17.1%
Yes, but not serious consideration
   
52 37.1%
No
   
63 45.0%
No Responses
   
1<1%
 Totals140100%

10Please indicate your business industry.
 
Answer
0%100%
Number of
Responses
Response
Ratio
Agriculture
   
1 <1%
Artisan
   
3 2.1%
Construction
   
9 6.4%
Educational Services
   
2 1.4%
Finance & Insurance
   
6 4.2%
Health Care & Social Assistance
   
4 2.8%
Hotel & Restaurant
   
15 10.7%
Information
   
5 3.5%
Manufacturing
   
19 13.5%
Professional, Technical
   
21 15.0%
Retail trade
   
12 8.5%
Transportation & Warehousing
   
4 2.8%
Utilities
 
0 0.0%
Wholesale Trade
 
0 0.0%
Other
   
39 27.8%
No Responses
 
00.0%
 Totals140100%
11County of Headquarters:
 
Answer
0%100%
Number of
Responses
Response
Ratio
Addison
   
9 6.4%
Bennington
   
3 2.1%
Caledonia
   
18 12.8%
Chittenden
   
35 25.0%
Essex
   
4 2.8%
Franklin
   
2 1.4%
Grand Isle
   
1 <1%
Lamoille
   
4 2.8%
Orange
   
1 <1%
Orleans
   
2 1.4%
Rutland
   
12 8.5%
Washington
   
14 10.0%
Windham
   
5 3.5%
Windsor
   
29 20.7%
No Responses
   
1<1%
 Totals140100%
12Please indicate the scope of your marketplace.
 
Answer
0%100%
Number of
Responses
Response
Ratio
Exclusive to Vermont
   
41 29.2%
Multi-state
   
45 32.1%
National
   
20 14.2%
International
   
33 23.5%
No Responses
   
1<1%
 Totals140100%
13If the scope of your marketplace is at the multi-state, national, and/or international level, please indicate the percentage of your business done outside of Vermont.
 
Answer
0%100%
Number of
Responses
Response
Ratio
Less than 25%
   
43 30.7%
25-50%
   
16 11.4%
50-75%
   
18 12.8%
75+%
   
27 19.2%
No Responses
   
3625.7%
 Totals140100%
14Please identify your total annual revenue in fiscal year 2019.
 
Answer
0%100%
Number of
Responses
Response
Ratio
$0 - $250k
   
33 23.5%
$251k - $1M
   
34 24.2%
$1.1M - $3M
   
29 20.7%
$3M+
   
40 28.5%
No Responses
   
42.8%
 Totals140100%
15Please indicate your business' total number of employees including self.
 
Answer
0%100%
Number of
Responses
Response
Ratio
1 - 10
   
78 55.7%
11 - 25
   
26 18.5%
26 - 50
   
13 9.2%
51 - 75
   
9 6.4%
75+
   
13 9.2%
No Responses
   
1<1%
 Totals140100%
16Please enter the information indicated below if you would like additional information including results. (optional)
 
AnswerNumber of
Responses
First Name 48
Last Name 48
Company Name 46
Email Address 47

   
17Would you be willing to discuss your survey answers?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Yes
   
55 39.2%
No
   
66 47.1%
No Responses
   
1913.5%
 Totals140100%