From Deseret News archives:

Utah businesses are bullish

But high fuel costs are among the concerns

Published: Friday, Sept. 1, 2006 10:33 a.m. MDT
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Nearly half (47 percent) of respondents said they anticipated growing their work force "somewhat" over the next three months — 4 percent predicted their work force would increase "greatly." Forty percent said they likely will maintain current staffing levels, the survey said, while 11 percent said they expected to make reductions. Among those who anticipate decreases, the Dan Jones report said, the majority operate seasonal businesses.

Executives also were asked to rate their level of concern about 11 factors, including gas prices and the cost of utilities, companies' ability to compete, health insurance for workers, finding qualified workers and outsourcing to foreign countries. Of those, fuel costs topped the list, followed by health insurance costs and finding qualified employees.

Fuel costs were of greater concern to rural business representatives, Hofmann said. Leaders of bigger companies were more likely to report concerns about finding and keeping good workers, according to the survey. And concerns about health insurance costs spanned the spectrum.

"Health-care costs are unmanageable, plaguing businesses of all sizes," Hofmann said.

Zions Bank also issues a monthly Small Business Index, an analysis of various economic factors that Brough said provide a kind of rear-view "snapshot" of the economic environment. That differs from its new quarterly forecast, which Brough said provides a "local perspective on where the economy is headed, and what kinds of things can we anticipate on the horizon."

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"We can get national data, and we can get reports from the Fed (Federal Reserve), but this gives a perspective in our marketplace of what people owning and operating businesses here in Utah expect to be doing in the next quarter," Brough said.


E-mail: jnii@desnews.com

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