CHARLOTTE, N.C. -- Small and mid-size businesses in North Carolina are expecting a big year, according to a survey from PNC Bank. However, finding talent and navigating tax reform remain major obstacles.
Record levels of optimism:
Nearly half (48 percent) of businesses are optimistic about the national economy.
More than a third (38 percent) of North Carolina companies expect to raise pay in the next six months (compared to 28 percent in fall 2017).
Nearly a quarter (24 percent) expect to add full-time staff (19 percent in fall 2017) and 17 percent plan to hire part-time staff, up from fall 2017 (13 percent).
Two-thirds (66 percent) of North Carolina small and mid-size business leaders expect a sales bump in the next six months, the highest level since the North Carolina survey began in spring 2012.
Lingering questions on tax reform:
Only 26 percent report understanding the specific effects of the Tax Cuts and Jobs Act on their business
About one in four businesses say it’s too early to tell if the tax reform will help the bottom line or boost consumer spending
Workers wanted:
Nearly a quarter (23 percent) say it is harder to hire qualified employees today compared to six months ago
The biggest challenge to hiring is finding candidates with experience or skill
Among the 72 percent not planning to hire, the primary reason cited is the inability to find the right skilled workers (26 percent)