West Mich. biz outlook strong as companies eye expansions, recruiting woes ease

Business leaders voiced solid confidence in the West Michigan financial system in a recent study by financial development group The Ideal Place Inc.

Of the 138 companies that The Correct Spot team achieved with all through March, executives at 57 p.c stated their business experienced enlargement plans, typically by means of funds investments or choosing additional employees. The survey’s conclusions are “an indication that space small business leaders are sensation self-confident in the long term,” in accordance to The Proper Position.

“Overall, we see an optimistic small business community arranging for ongoing growth by way of 2022,” CEO Randy Thelen reported in a news launch.

Practically a few-quarters of small business leaders explained to The Ideal Position workers that their company’s gross sales are rising when just 4 % noted lessened income.

Recruiting difficulties eased a bit from the organization’s previous survey in June 2021, as 48 p.c of employers reported difficulty filling open positions when compared to 53 percent last yr. The remaining 52 percent noted “no recruitment issues” in March.

Virtually four out of 10 businesses stated they have invested far more in workforce education in response to the labor shortage to raise retention costs.

Of the companies The Suitable Place staff achieved with in March, additional than 3-quarters hire considerably less than 100 persons and 20 p.c employ 100 to 500 staff.

The Appropriate Place’s industry area handles Kent, Ionia, Mason, Mecosta, Montcalm, Newaygo, Lake, and Oceana counties.