Business Leaders Express Optimism and Are Implementing Strategies to Stay Agile and Adaptive
To gauge perceptions of the state of the economy and business in Columbus, including its commercial real estate (CRE) industry, Thompson Hine partnered for a third year with Columbus Business First to survey local business owners and executives. Insights from 201 business leaders in a wide range of industries are compiled in Thompson Hine’s newly released report, “Bright Horizons: An Optimistic Business Outlook.”
Despite ongoing concerns about the U.S. and local economies, corporate leaders are optimistic about the future.
In Columbus business leaders’ view, the local CRE industry appears in decline for a third year in a row, and many don’t expect an improvement anytime soon. At the same time, survey results reveal upticks in office redesigns/upgrades, moves into mixed-use spaces and purchases of new commercial spaces.
When it comes to work models, while survey respondents shared both pros and cons, at least partial flexibility seems here to stay.
“Although some concerns remain, the business leaders we polled this year seem to be more optimistic about the future, especially when it comes to their own companies,” stated Michael Wible, partner in charge of Thompson Hine’s Columbus office. “In last year’s survey report, we emphasized that innovating and adapting to change are keys to success, and based on this year’s data, that message resonated with business leaders. As they embrace workplace changes such as offering flexible work models and incorporating AI technologies, we expect the positive momentum to continue.” Industries represented in this year’s survey included consulting, construction, nonprofit, architecture/engineering, health care, insurance, manufacturing, commercial real estate and technology, among numerous others. Most respondents held top-level management positions, with business owners comprising the largest category. Annual revenues ranged from less than $500,000 to $1 billion or more
