Business leaders voiced strong confidence in the West Michigan economy in a recent survey by economic development organization The Right Place Inc.
Of the 138 businesses that The Right Place staff met with during March, executives at 57 percent said their company had expansion plans, usually through capital investments or hiring more staff. The survey’s findings are “an indication that area business leaders are feeling confident in the future,” according to The Right Place.
“Overall, we see an optimistic business community planning for continued growth through 2022,” CEO Randy Thelen said in a news release.
Nearly three-quarters of business leaders told The Right Place staff that their company’s sales are increasing while just 4 percent reported decreased sales.
Recruiting issues eased slightly from the organization’s last survey in June 2021, as 48 percent of employers reported difficulty filling open positions compared to 53 percent last year. The remaining 52 percent reported “no recruitment issues” in March.
Nearly four out of 10 employers said they have invested more in workforce training in response to the labor shortage to raise retention rates.
Of the employers The Right Place staff met with in March, more than three-quarters employ less than 100 people and 20 percent employ 100 to 500 workers.
The Right Place’s market area covers Kent, Ionia, Mason, Mecosta, Montcalm, Newaygo, Lake, and Oceana counties.