Yet Majority Expect Their Own Results to Improve
SAN FRANCISCO, Calif. – Aug. 4, 2009 – Despite hopeful signs that the worst of the recession is behind us, most CEOs, remain skeptical that the economy will improve in the current quarter, according to a recent poll of small to mid-size companies. In a just-completed survey conducted by ExpertCEO, 62% of responding executives say the economy will not improve in this year’s calendar Q3. Among CEOs of companies with annual revenues above $50M, the pessimism is more pronounced, with 91% expressing skepticism about economic recovery in the current quarter.
Just under half of the participants met or exceeded their forecast results for the quarter ended June 30, 2009. A similar percentage of respondents recorded June quarter revenue growth, as compared with the same period in 2008.
Despite their downbeat predictions for the overall business climate, 55% of surveyed CEOs are optimistic regarding demand for the solutions their companies offer, anticipating greater revenue in this year’s September quarter than the same period last year.
ExpertCEO (www.expertceo.com) is a private on-line community where senior executives can confidentially exchange ideas with peers, locate trusted resources, ask questions of experts across a range of disciplines, and quickly solve real-world business problems. The site combines social networking technology with concepts proven by CEO membership organizations like Vistage and YPO. The sample size of this survey was 96 CEOs, with the majority of respondents heading technology and Internet companies. Most are privately held firms.
