WWU’s Center for Economic and Business Research Releases Snohomish County 2015 Business Optimism Survey

January 19, 2016

Western Washington University’s Center for Economic and Business Research has completed its Snohomish County Business Optimism Survey Report for 2015; a copy of the report is posted on the Center’s web page, https://cbe.wwu.edu/cebr/topics-and-reports.

Key takeaways from the survey include:

  • 95 percent of businesses expect economic stability and/or growth in Snohomish County.
  • 61 percent of businesses expect revenues to rise from the previous year and of those who expect revenues to rise, 46 percent expect the growth to come from new customers.
  • 56 percent of respondents expect to invest at the same level as last year while 33 percent expect to invest more than last year.
  • 62 percent of businesses expect growth in net profits over the next five years, 40 percent expect growth in employment, 45 percent expect growth in equipment, 32 percent expect increases in gross margin, 17 percent expect increases in square footage, while 17 percent do not expect any growth.

The survey, done in collaboration with Coastal Community Bank, was designed to provide baseline observations of the current business environment; collect data that can be used to forecast the future business environment; and assess business needs based upon self-reported characteristics, perceptions, and concerns.           

The Center used an online survey to obtain responses, and it was emailed to an estimated 1,276 Snohomish County business contacts. The survey found that the level of optimism for businesses remains high, averaging around 75.56 out of 100.

The survey included questions about current business conditions and included future-oriented questions about level of optimism for the local economy as well as the business in particular, revenue changes, investment changes, and different growth areas within the business. The report lists all questions and reports basic descriptive statistics.

For more information contact James McCafferty at Western’s Center for Economic and Business Research at james.mccaferty@wwu.edu or (360) 650-2414.