WOOD Radio Local News

WOOD Radio Local News

WOOD Radio Local News

 

Right Place Inc. survey indicates business sales and growth are looking up

GRAND RAPIDS, Mich. -- The Right Place economic development organization's survey of businesses in Greater Grand Rapids finds that a strong majority of them are reporting increasing sales.

The Right Place queried executives with 138 businesses in March. The market includes Kent, Ionia, Mason, Mecosta, Montcalm, Newaygo, Lake and Oceana counties.

Eric Icard is Senior Director of Business Development with The Right Place. He was a guest on West Michigan's Morning News. He says the biannual Insights Survey shows most company are seeing an uptick in sales.

"Seventy-one percent of those companies (surveyed) did report an increase of sales, 27 percent reported stable sales. Only 2 percent said their sales were off for the coming year," Icard said.

Icard said 52 percent of the companies surveyed last year reported problems with talent retention.

"This year, only 40 percent are having those challenges. So, it's nice to see that trajectory in both sales and talent. And, also, looking at the overall investments that companies are making," he said.

About 57 percent of the companies said they are planning to expand.

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