Business Council of Westchester Survey Shows: Beginning of the End… ?

The consensus of Westchester County business leaders is that — no surprise here — 2009 is a year best left behind.

So says the Business Council of Westchester (BCW), arguably the largest and most influential business organization when they released results (Click Here) of the fourth quarter 2009 economic survey, which tracks local business trends and overall confidence rating.

BCW member DataKey Consulting, LLC conducted the research and analysis, providing the results of nearly 150 local CEOs and business leaders on the state of the local economy, citing 68% of responding companies project flat to mostly declining sales for 2009 vs. 2008.

Light at the End of the Tunnel

The slide has stopped with 71% of respondents expecting their revenue to either remain the same or increase over the next six months compared to last quarter. Of those who anticipate growth, 53% have enhanced customer service, 53% reduced expenses, and 22% introduced new and improved products to battle the recession.

“Marketing and advertising are important,” said one business owner who projects growth. “I invest more wisely now than ever before, but delivering high quality output and focusing on customer satisfaction will lead to positive word of mouth, and can be the very best advertising possible.”

Since when is a 52 a good grade?

Overall business confidence has doubled since December ‘08. Out of a possible 100, the Westchester Business Confidence Index for the fourth quarter of 2009 scored a 52 (with 50 being equal number of businesses optimistic as pessimistic). Last year at this time, the confidence score was a dismal 27. In comparison, that 52 is looking better and better.

Recession? What Recession?

Here at InSight Marketing, believe it or not, we’ve seen a significant increase in business. Mostly new businesses ready to direct their marketing dollars wisely. Times are tough, so we offer excellent value; great, if not excellent, word-of-mouth marketing; and teach clients to harness the good in their local economy, which can only bode well for clients, and subsequently our local economy.

Now in shaky economic times, these businesses understand the need to aggressively market to keep their business stable, and more importantly, to be well-positioned for the significant growth when the economy turns around. And it will! Promise.

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