FAIRFIELD COUNTY, Conn. – The state’s economy, national uncertainties and the effects of implementing the Affordable Care Act were among the top concerns for Connecticut businesses, according the results of a recent Connecticut Business & Industry Association (CBIA) survey that included responses from 377 businesses in the state.
In a recent CBIA survey, Connecticut’s economy was the single greatest concern for 34 percent of businesses, followed by national economic uncertainty (21 percent), tax burden (14 percent), the Affordable Care Act, known as Obamacare (11 percent), and regulatory compliance costs (9 percent).
Looking ahead, Connecticut businesses also ranked their top concerns for the end of 2014 – with 26 percent saying the state’s economy was the greatest issue, and 22 percent of businesses saying the implementation of Obamacare was their biggest concern. National economic uncertainties ranked as the third highest concern for businesses in 2014, with 20 percent saying it is their top issue.
Notably, the survey revealed modest improvement in private sector job creation, with 43 percent of companies having hired or planning to hire new employees in 2013 and 47 percent said they will add jobs in 2014. For Connecticut manufacturers, those job creation numbers jump to 48 percent in 2013 and 56 percent in 2014, a CBIA report said.
The 2013 Survey of Connecticut Businesses was emailed to 5,112 businesses in June and July; 377 responses were submitted – of which 141 were from manufacturers, according to the CBIA.