Publisher's Note

SBJ Economic Growth Survey: Shifting Behaviors

Posted online

The overarching theme of this section and our fourth broad discussion of data collected by H2R Market Research in conjunction with Springfield Business Journal’s 2020 Economic Growth Survey is shifting behaviors. Perhaps this theme title is in part creative avoidance of using the word pivot one more time to describe a noticeable change in direction, but I believe it also acknowledges that not all change is circumstantial or related to the emergence of the coronavirus. Sometimes change is just an inevitable precursor for meaningful growth to occur. 2020 marks the second year for this survey of area business leaders and therefore provides a point of data comparison. In addition to having two years of standard first quarter survey data to discuss, a second measurement was taken in 2020 to isolate any additional shifts in behavior and/or attitude that are likely the result of COVID-19.

In this edition, we are taking a closer look at shifting needs for housing. Rob Haik, the founding principal of H Design Group LLC, describes a multifaceted housing equation that takes into account design features that encompass a location’s past, present and future.

You also will read about the supply chain interruption that we all have seen some evidence of: the empty shelves of local retailers and suppliers. KC Mathews, chief investment officer for UMB Bank, foreshadows the potential economic fallout of these interruptions to local businesses and provides some sound advice for business owners that may help minimize risk.

Further, we take a look at the changing faces of local businesses, both as a result of planned succession and out of a desire to diversify the workforce to become more inclusive of minorities.

Regardless of your industry sector or growth trajectory, Springfield businesses are all impacted by the change that surrounds us. It is our hope that this special Economic Growth Survey edition will arm you with current data and leave you better informed to chart your own path forward.

*Wave 1 (collected Feb. 15-March 1) sample size 492, with a +/- 4.4% margin of error and 95% confidence interval; wave 2 (collected April 9-19) sample size 696, with a +/- 3.7% margin of error and 95% confidence interval