SOUTHFIELD ? Michigan, Ohio and Illinois business leaders are more positive than negative about their chances for success in the current economy, contends a new survey from Plante & Moran.
The survey also shows that despite persistent claims that an entitlement
mentality is pervasive among the region’s workers, the more than 100
executives interviewed agreed that the region’s labor force – its work
ethic, availability, experience, training and skill set – tops the list of
benefits of doing business in the region.
Plante & Moran contracted with the Center for Urban Studies at
Wayne State University to survey middle-market businesses
($20 million to $200 million in annual revenue) about the advantages and
disadvantages of doing business in the economically challenged Great Lakes
Region encompassing Michigan, Ohio, and Illinois.
“This survey gives insight into the voice of the middle market,? said Plante & Moran Managing Partner Bill Hermann. ?It contains the views of CEOs, COOs, and business owners from critical market segments in Michigan, Ohio, and Illinois. It’s heartening to find a consensus among these employers that the region’s workforce is one of the greatest strengths for doing business in the Great Lakes.”
Hermann also cites survey statistics that nearly 56 percent of respondents are
optimistic or very optimistic about the continued growth of their
organization, while more than 71 percent are optimistic or very optimistic about
the improvement of their organization’s performance.
“These leaders do not have their heads in the sand; they are positive
about the future of their businesses despite the current economic downturn
of the region,” said Hermann. “Although survey respondents expressed
concern over the rising costs of health care, high costs of doing business,
and the decline of the automotive/manufacturing sector, these macro trends
don’t stop medium-sized businesses from moving forward.
“There’s an urgency in the Great Lakes sector,” Hermann said. “It’s
time to reconsider the Great Lakes Region with a longer-term focus on
potential, on enduring values and on key resources that make this area a
potential powerhouse for North America over the next quarter-century.”
The survey includes 102 respondent companies, with 53 percent headquartered in Michigan, 30 percent in Ohio and 17 percent in Illinois. Interviews were conducted by phone in September and October of 2006.
The executives who participated represent a cross-section of the
region’s leading industries. Thirty-one percent of the companies were in
manufacturing and distribution, 17 percent in health care, 15 percent were financial institutions, 10 percent were in construction and real estate, 8% were service companies, and 7 percent were automotive dealerships. Five percent were public sector organizations, and 7 percent were in other business segments.
For a copy of the white paper or the executive summary of the Great
Lakes Middle Market business survey, click on PlanteMoran.Com
