CEO confidence is up, according to the Vistage CEO Confidence Index. Over the next 12 months, the majority of CEO’s with small to medium size businesses predict that their companies will see an increase in revenues, profits, and even hiring.
The second quarter report is in stark contrast to what the index reported in the fourth quarter of 2008, when CEO confidence was at an all time low. At the end of 2008, CEO confidence was measured at 48.7. Now it’s at 94.4, making this quarter the sixth quarter in a row that it has increased.
CEO and Chairman of Vistage International, Rafael Pastor, said the Q2 results are important: “CEOs of small to medium size companies have adjusted to the lean economy, are doing more with less, and have positioned their companies for success. Their continued confidence sends a strong message that small and medium sized businesses will be among those who will lead our overall economic recovery.”
The survey of CEOs also found that 87% of them believe that the US government does not understand the challenges faced by small and medium business. CEO’s are concerned about changes and increases in regulations, taxes, and government intrusions, that interfere with business development.