Welcome to the first edition of our special six-part series on local economic growth. Springfield Business Journal’s 2023 Economic Growth Series documents the fifth year of survey data collected from area business leaders in an effort to provide valuable insights that might better guide local business decision-making.
In this publication, Growth Series sponsors provide practical advice to businesses navigating the ever-changing economic landscape. As we delve into various aspects of business management and strategy, we hope to equip our readers with the knowledge and tools necessary to thrive in both prosperous and challenging times.
We explore a wide range of topics critical to the bottom line: managing internal resources, planning for the unexpected, positioning oneself for success during a recession, reducing debt and enhancing tax efficiency, and protecting cash and liquidity. We have it all covered as we get to understand the perspectives of local business leaders planning for future growth.
We will delve into the factors that contribute to growth, the challenges faced by businesses and the strategies employed by successful enterprises. By examining the local economic landscape, we aim to provide a holistic view of the opportunities and obstacles that business leaders are reporting in our region. Furthermore, we will explore the reasons behind the hesitation of some local businesses to pursue growth or expansion.
We invite you to join us on this journey as we uncover the secrets to sustainable growth and success in our local economy beginning with this issue. You will also want to stay tuned for the upcoming editions of this special six-part series. Whether you are a seasoned entrepreneur, a business owner or an aspiring professional, this series will offer valuable knowledge and practical advice to help you navigate the complexities of today’s business environment.
General aviation terminal expansion is set to wrap by August.