2021 Family Business Forecast - Conway Center for Family Business

2021 Family Business Forecast

Hiring a bigger concern than the pandemic, says central Ohio’s family businesses  

Despite pandemic concerns, family business leaders optimistic on economic outlook

The tenth Annual Family Business Forecast survey, conducted by the Conway Center for Family Business, revealed more than one in four (27.4%) Central Ohio family business leaders­ believe adapting to COVID-19 mandates and restrictions will remain one of their most significant business challenges moving into 2021.

The pandemic contributed to tempered optimism among those surveyed about the economic outlook of both the local and national economy in the new year.

A majority of respondents (76.4%) feel somewhat or very good about the U.S. economic outlook, a fall from 98.3% at this time last year. Those feeling “very good” about the national economy (8.3%) decreased by more than 33 percentage points from 2020 (42.1%).

Similarly, family business leaders are optimistic overall about the business climate in Central Ohio (83.4%), though only 15.3% chose the highest rating of “very good” compared to 56.1% choosing the highest rating at this time last year.

The Conway Center fields the Annual Family Business Forecast to gauge the economic climate – including employment and related challenges – among family businesses in the region.

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