Guest speaker weighs in on Economic Growth Series survey results

While business owners who filled out Springfield Business Journal's 2026 Economic Growth Series survey are somewhat bearish when it comes to the local economy, a guest speaker at a kickoff event said there's much to be optimistic about.

Doug Fredrick, owner of The Law Office of Doug Fredrick LLC and a visiting professor of management at Drury University, was the editorial guest speaker at the kickoff event held at the offices of Forvis Mazars LLP.

The EGS survey shows 30.5% expect an improvement in their business sector this year. That's the lowest enthusiasm level going back to 2019 and compares with 35% in 2025 and 45% in 2024. The peak was 69% in 2021. However, respondents who expect their business sector to worsen are 25%, down from 28% in 2025.

"Businesses have accepted that uncertainty is part of today's economy," Fredrick said.

He pointed to the Cboe Volatility Index, also known as VIX index, fear index or fear gauge, that measures the expected 30-day volatility of the U.S. stock market. A rating of 20 or below on the index signals stability and investor confidence, according to Investopedia, while a rating of 30 or above signals heighted fear.

"Being at 16.3 today, we're looking pretty good here," Fredrick said. "Things aren't as bad as you might think that they are."

Fredrick additionally singled out a piece of data that shows 61.5% of survey respondents own their business office.

"I was shocked by many people own their building," he said. "I was very pleasantly surprised."

Speaking on technology, Fredrick said cryptocurrency should be a bigger focus for businesses.

"It's weaving its way into our economies," he said. "Start thinking about cryptocurrency."

According to the survey, 43% of respondents expected to add employees, compared with 38% in 2025.

Additionally, growth strategies include expanding use of technology and developing the next generation of leaders. Expectations for both strategies are up from results a year ago.

The EGS survey results are available here.