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An Aging Industry
Over 24% of the reporting businesses have been in business for over 30 years, and over
67% have been in business for 11 years or more. Only 4% of those reporting entered the
industry during the past two years.
Years in Business
2012
2011
Less than 2
4%
5%
11 Years +
67%
73%
30 Years +
24%
28%
A Positive Economic Outlook and Thoughts About Federal Government Support
The retail sector reflects the greatest optimism about business growth during 2011, with
nearly 67% believing that business will increase during 2011. Yet 83% do not plan to
add employees during the year, even if business increases substantially.
Regarding the overall economy, 36% retailers believe that 2011 will remain about the
same as 2010, while nearly 36% believe that the economy will rebound during 2011.
With respect to Federal Government support, over 83% of the retail sector either has no
opinion or feels that the Federal Government does not support their business.
Opinions
2012
2011
Business will increase
67%
70%
Will not add employees
67%
83%
Economy will rebound
36%
36%
Economy will remain same
37%
36%
Federal Govt Non-Support
83%
92%
Cost of Business and Actions Taken
Over 67% of respondents have felt the costs of business increase over the previous 12
months.
Costs Have Increased
2012
2011
Significantly
20%
36%
Somewhat
47%
42%