Family-owned businesses in the state expect modest improvement for 2013 and the coming year, according to a survey released today by the Connecticut Business & Industry Association.
Of the 209 business owners who responded, 52 percent expect to book a sales or revenue increase this year. They’re more optimistic for 2014, with 65 percent expecting an increase.
The largest external challenge cited by the businesses was regulations and taxes, while the largest internal challenge was workforce development.
Manufacturers were heavily represented in the survey, with 41 percent of respondents owning a manufacturing business.
However, CBIA noted that more recently created family businesses seem to have shifted into the services sector over the past generation.
The businesses had a negative perception of the state’s business friendliness, with 90 percent saying the state was not friendly.
That somewhat mirrored a broader CBIA survey from September, in which 80 percent of respondents had a negative or somewhat negative opinion of the state as a place to do business.
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