First Business Financial Services : Economic Survey of Southeast Wisconsin Reports Increase in Sales for 2016
December 12, 2016 at 05:30 pm
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KENOSHA, WI, December 12, 2016 - The results of the annual First Business Economic Survey were released today. Each fall, First Business takes the pulse of local businesses through an annual economic survey in Southeast Wisconsin, the Greater Milwaukee Region, Dane County, and Northeast Wisconsin. The survey focuses on the current year's actual and next year's predicted: sales revenue, total operating costs, capital expenditures, profitability, number of employee, changes in wages, and changes in pricing.
First Business has annually underwritten the survey to help business owners achieve a broad based and up-to-date understanding of the local business climate, which includes information that can be utilized in planning for the coming year.
A summary of the Southeast Wisconsin findings released today includes:
74% of respondents indicated that 2016 either lived up to expectations or was better than expected in terms of overall performance.
In 2016, 56% saw an increase in Actual Sales, while 22% saw a decrease.
47% of respondents saw an increase in Actual Profitability in 2016 (just a couple of percentage points below the previous year).
37% of respondents increased their Actual Number of Employees in 2016
69% of respondents saw Actual Wages increase in 2016 (an increase from the previous year), and the same percentage expects a wage increase for 2017.
In 2016, just 26% of respondents reported an increase in Actual Capital Expenditures.
The number of respondents who saw Actual Total Operating Cost as a Percentage of Revenue increase in 2016 was at 37%, a significant increase from the previous year.
37% of respondents saw an Actual Pricing increase in 2016, and 63% saw prices remain the same. 32% see a Projected Price increase in 2017.
The outlook for 2017 is somewhat less positive that it was the previous year; nonetheless Projected Sales, Profits, and hiring are expected by most to either increase or stay the same.
Download the full First Business Economic Survey Report for Southeast Wisconsin at: www.firstbusiness.com/survey.
About First Business
First Business Financial Services, Inc. (NASDAQ: FBIZ) is a Wisconsin-based bank holding company, focused on the unique needs of businesses, business executives, and high net worth individuals. First Business offers commercial banking, specialty finance, and private wealth management solutions, and because of its niche focus, is able to provide its clients with unmatched expertise, accessibility, and responsiveness. For additional information, visit www.firstbusiness.com or call 608-792-1400.
Member FDIC, First Business Bank - Milwaukee is located at 18500 W. Corporate Drive, Brookfield, WI 53045. For additional information, visit www.firstbusiness.com or call 262-792-1400.
The First Business logo is available at http://www.firstbusiness.com/logo/.
First Business Financial Services Inc. published this content on 12 December 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 December 2016 17:30:07 UTC.
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First Business Financial Services, Inc. is a bank holding company. The Company is engaged in the commercial banking business through its bank subsidiary, First Business Bank (the Bank). The Bank operates as a business bank, delivering a full line of commercial banking products and services tailored to meet the specific needs of small and medium-sized businesses, business owners, executives, professionals, and high net worth individuals. Its products and services are focused on business banking, private wealth, and bank consulting. It offers commercial real estate lending, commercial and industrial lending, asset-based lending, accounts receivable financing, equipment financing, floorplan financing, vendor financing, small business administration (SBA) lending and servicing, treasury management solutions, and company retirement services. Its private wealth management services include trust and estate administration, financial planning, investment management, and private banking.