The Law Office of Andrew J. Goldberg released its 2018 Confidence & Clarity Survey. The survey asked businesspeople in the metropolitan Detroit region how their organizations will be addressing leadership, M&A, finance, human resources, sales and marketing, and technology issues in 2018, along with their feeling about the economy. In addition, the survey questioned business advisors about trends they anticipated for their clients. The 2018 Confidence & Clarity Survey can be downloaded at www.ajglaw.com.
“After speaking with my business clients and numerous entrepreneurs in the community, I realized there aren’t any overviews that could help identify and benchmark current trends in their marketplace, especially in Southeast Michigan where we are a comeback economy,” said lawyer Andy Goldberg on his decision to create the Confidence & Clarity Survey. “The Big Four accounting firms tend to report on Fortune 500 or global corporations, but there are so many smaller entities that need consideration and attention. Small businesses alone account for nearly 29 million U.S. companies today.”
For the 2018 Confidence & Clarity Survey, questionnaires were sent to more than 1,000 business executives and business advisors located principally within Detroit and the Southeast Michigan region. Almost 90 percent of survey respondents were in ownership or leadership positions within their organizations. Among its findings, the survey revealed that:
• Employee retention, promotion, and training is a large concern for businesses of all sizes, as employers planned to increase their workforces in 2018. As a result, companies foresee a competitive job market this year and plan to increase compensation and benefits and to invest in job skills and job training.
• Many organizations are not planning to change their finance strategies and investment policies in light of the recently enacted tax reforms.
• Most businesses plan to expand into new markets, and this growth will likely occur organically. To support this growth, organizations are developing new products and services. They are venturing on new advertising and marketing campaigns.
Goldberg is a business attorney who helps owners develop strategies to grow their organizations. As both a lawyer and a Certified Public Accountant, he is frequently involved in matters where legal, accounting, and business operations intersect, acting as an outside general counsel and trusted advisor to his clients. He has offices in Bloomfield Hills and Detroit.
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