Minnesota Survey: 77% Of Business-Service Firms Expect Stable Or Improved Revenue

Compared with last year, seven percent more legal, public relations and engineering firms and accounting consultants are confident in a stable or improved revenue.

A survey of 237 professional business-service firms in Minnesota shows that 77 percent expect stable or improved revenue in the coming year.

The random survey, made by the state Department of Employment and Economic Development (DEED), included legal, public relations, engineering firms, and accounting consultants.

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The findings are an improvement over last year, when 70 percent expected stable or higher revenue.

DEED said other findings from the survey include:

  • 70 percent said their revenues improved or were the same in the past year.
  • 73 percent said labor availability was stable in the past year, while 54 percent said work productivity was unchanged.
  • 50 percent said costs rose in the past year.
  • 90 percent anticipate higher or stable worker productivity in the coming year.
  • 84 percent expect increasing or stable employment statewide in the coming year.
  • 80 percent said they have not hired more part-time workers in response to the Affordable Care Act.