Planning the way forward is the overarching theme of this section and our second broad discussion of data collected by H2R Market Research in conjunction with Springfield Business Journal’s 2020 Economic Growth Survey. As simple as it sounds, it truly is descriptive of the ever-changing indicators of economic wellbeing in the Springfield community since the onset of COVID-19. Business confidence, consumer behavior and financial strategies were in fact changing so rapidly that SBJ embarked on a second survey of local business leaders in late March, just a few short weeks after the first survey closed and the pandemic reached full roar.
In this edition, we’re taking a closer look at how business leaders in our community are planning for an uncertain future. Some businesses are just starting out, while others are seeking new strategies to exist in the current environment. Each is exploring funding opportunities, business incentives and planning strategies in a fight to survive and thrive. Each must adapt, stretch, pivot and reinvent on the fly.
You will read of some creative and inspiring local successes as well as the mental toll to be paid in times of rapid change and uncertainty. You will also read about the particularly hard-hit hospitality industry and what can and is being done to win back consumer confidence and ensure the safety of those returning to business and leisure travel.
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 of SBJ will arm you with current data and leave you better informed to plan, adapt and repeat.
Steve Childers to lead city’s key growth initiatives, including Forward SGF.