Food and beverage small businesses may be toasting their good health, as many indicated in a recent survey their plans to hire more over the next 12 months.
The views held in the quarterly survey improved from Q4 2007, where 16 percent of those surveyed claimed they planned to increase hiring. This current survey for Q1 2008 puts the figure at 44 percent.
Fuel costs figured in the planning for food and beverage companies. 46 percent of the survey said they raised prices as a result of soaring gas prices.
The Small Business Research Board also does a confidence index for the food and beverage industry. As one might suspect, confidence dwindled in Q4 2007, dropping 18 points to a measure of 30.
With things perking up a bit, confidence in Q1 2008 moved to 43. The overall confidence index measuring all small businesses hit 43.67, ten points lower than the previous quarter.
Hiring will be the real key to helping the economy, whether in food and beverages or elsewhere. Without hiring, there’s no new money going to people to plug in to other businesses for needs and wants. Let’s hope the food and beverage trend spreads.