Page 10 - March 2023 Issue

Findings of while confidence and optimism about views related to their specifi c industries

long-term survival is positive. and on issues from labor supply to
Latest Eastern regulations.
These trends are among the findings
Shore Business of the latest Eastern Shore Business Results include:
Sentiment Survey Sentiment Survey conducted through a The 12-month outlook for business
partnership with Salisbury University’s conditions in participants’ respective

Business Economic and Community counties is significantly lower than in
By Debbie Bowden, Director, Outreach Network (BEACON), SU’s December 2021. When asked to predict
Caroline County Economic Eastern Shore Regional GIS Cooperative the business conditions in their counties
(ESRGC), and Caroline County and the Eastern Shore, 38% responded
Development and Tourism
Economic Development. that they believe economic conditions
(This month, I The December 2022 results represent the will worsen, compared to 23% in

want to share fourth report released by BEACON. Th e December 2021.
an article from first survey in the series was conducted Businesses are generally confi dent about

Salisb ur y in June 2021, with a follow-up in their operation on a longer horizon.
U n i v er si ty December 2021, and the most recent Nearly 86% believe their firm will be
on a Business report in June 2022. operating locally in the next fi ve years,
S e n t imen t with just 6% predicting business will not
Survey results. The survey included more than 50 be operating locally five years from now.

I hope you find the information questions, asking business leaders to
interesting. The next survey will be in weigh in on a range of topics, from Respondents assessed labor force

June 2023.) general business concerns to conditions issues as the most significant barrier
in their own industries. Respondents to expanding in their sector, followed
Eastern Shore business owners and

evaluated business conditions locally, by inflation then finances and funding.
managers’ recent uncertainty about the
regionally, in the state and nationwide The highest barrier to starting a new
economy remains in the short term,
for the coming year. Th ey also shared business in their specific sectors was

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