A recent survey conducted by the Siena College Research Institute reveals a concerning trend among CEOs in Upstate New York. The majority of CEOs, 67%, are feeling pessimistic about their Business prospects, with only 4% believing that conditions are improving.
Don Levy, the director of the institute, noted that this level of negativity is the lowest in the 17-year history of the survey. Many CEOs cited issues with how the state government is impacting commerce, feeling overtaxed and overregulated.
In addition, the CEOs expressed frustration with the effects of inflation on their businesses. Rising supplier costs and the need to raise prices to make a profit are adding to their concerns.
While business leaders in the Rochester-Finger Lakes region are slightly less pessimistic than those in other parts of New York, they still face challenges. One major concern is the shortage of qualified workers to fill job openings, with 83% of CEOs in the Rochester area noting a lack of trained workers.
On a more positive note, the survey highlighted the high marks given to tourist attractions in the Finger Lakes by business leaders in the Rochester area. This positive aspect serves as a bright spot in an otherwise challenging business environment.
The historic background of this topic shows a longstanding struggle for Upstate New York CEOs, but with potential for growth and improvement as they navigate the current economic landscape.
Read More Business News
