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Business Leaders Economic Confidence Survey Arkansas Edition

Business Leaders Economic Confidence Survey Arkansas Edition. Final results Opened on 06/09/14 & Closed 07/28/14. (08/02/14). Response Demographics.

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Business Leaders Economic Confidence Survey Arkansas Edition

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  1. Business Leaders Economic Confidence SurveyArkansas Edition • Final results • Opened on 06/09/14 & Closed 07/28/14 (08/02/14)

  2. Response Demographics We covered Manufacturing to Agriculture industries – Top 5 industries were Manufacturing, Financial Services, Construction, Utilities/Energy, and Healthcare. • 55% have annual revenue over $10M last survey was 70% • 65% have more than 50 employees • 97% were executive level – CEO, CFO, VP, etc.

  3. How do you expect your company’s sales revenueto change in the next six months? 69% expect Sales Revenues to increase (slightly or significantly) the last half of 2014. +8% change from last survey

  4. How do you expect your company’s ARKANSAS capital spending to change in the next six months? 51% expect capital spending to increase (slightly or significantly) the last half of 2014. -2%change from last survey.

  5. How do you expect your company’s ARKANSAS employment to change in the next six months? 49% expect Arkansas employment to increase (slightly or significantly) the last half of 2014. +23% change from last survey.

  6. How do you expect your company’s wages to change in the next six months? 57% expect wages to increase (slightly or significantly) the last half of 2014. -2%change from last survey.

  7. When asked to rate criteria based on its impact to your company’s Workforce growth? • The following criteria were identified in order of impact: • Candidate’s lack of skills • Lack of available candidates • Candidate’s lack of education/training • Candidate’s drug/alcohol abuse • Your company’s competition

  8. Overall how would you compare economic conditions today to six months ago? 47% said conditions are better (somewhat or much) than 6 months ago. +88% change from last survey.

  9. How do you feel overall economic conditions will change over the next 6 months? 51% feel conditions will be better (somewhat or much) over the next 6 months. +46% change from last survey.

  10. When asked to rate criteria based on its impact to your company’s economic growth? • The following criteria were identified in order of impact: • Federal regulation/compliance • Consumer confidence • Obama Care • State regulation/compliance • Inflation Federal regulation/compliance took over the top spot – previously consumer confidence.

  11. What Else Impacts Your Company’s Economic Growth? Economic Leadership Talent Finding younger workers entering our field in greater numbers, beginning to replace our aging workforce. The ability to have stability over a 5 to 10 year window drives real capital projects - equipment. This then drives employment. The lack of stability and uncertainty impacts the risk companies are willing to take. We saw a significant shortage of available CDL drivers who were willing to haul product for us. We were forced to use (3rd party) trucking... Our overall cost increase… was almost 30% more than last year. Appointed state regulators that have little experience or knowledge of industries they regulate,… generally anti-business, anti-growth/investment which drives investment and job growth to other states. … it is vital that local employers utilize the benefits of partnering with its local universities and colleges to help develop more internship opportunities within the state, … help so much with the economy and retention of a skilled workforce for the… employers… and the state of Arkansas!!!!! Companies that look for firms outside of the state before retaining a home grown firm.

  12. Summary The Good News • On a State level overall economic conditions are very positive • Sales revenues are trending up • Employment is up and expected to continue • On a National Level • GDP surged 4% in Q2 (economists expected 3%) • Over the last 12 months the CPI increased 2.1 percent The Bad News • On a State level our respondents say things are stable yet: • Therefore, capital spending is flat to slightly down • And wages are flat to slightly down • Major concerns that we have a Talent vacuum in this state

  13. So what does all this mean for businesses in Arkansas? Our clients at CEG Partners have been doing two things over the last several months; #1 they have streamlined their key processesthat bring the most value to their customers. This helps them be more competitive on price while also improving customer service. #2 they have upgraded talentin key growth positions in their company. While many other businesses have let employee attrition play out to the point where they have had vacant jobs for months, our clients are taking this opportunity to find higher grade employees that will get them to the next level. Call Now So We Can Help You! Mike Stafford 501-255-7751 www.CEGpartners.com

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