Central Ohio Family Businesses Optimistic About Year-End Growth Despite National Concerns
The 13th Annual Family Business Forecast survey, conducted by the Conway Center for Family Business, revealed that while national economic uncertainty is tempering optimism, Central Ohio’s family business leaders remain largely confident about their prospects in the second half of the year.
Two-thirds of respondents (66%) said their business has met or exceeded expectations halfway through 2025, and nearly the same percentage (57%) predict their business will be in a better place by year’s end. One-third of Central Ohio’s family business leaders surveyed say their business results are below expectations.
Family Businesses Plan to Hire – But Struggle to Find the Right Candidates
Almost half (46%) of Central Ohio family businesses say they plan to increase hiring during 2025. However, as they have in the past several years, their leaders continue to identify hiring challenges as a top concern:
- Finding qualified workers (30%) and competition for skilled laborers (19%) were cited as the biggest obstacles.
- The majority of family businesses expect to source talent through referrals (75%) and online job listings (64%), followed by networking and university partnerships.
“Recruiting and retaining qualified workers remains the most pressing challenge for our members,” said Bea Wolper, President and Board Chair of the Conway Center for Family Business. “Family businesses pride themselves on their culture, but finding employees who are both skilled and a good fit is a constant balancing act.”
Top Challenges: Inflation, Uncertainty, and Costs
When asked about the biggest threats to business performance for the rest of 2025, respondents pointed to:
- Economic uncertainty (57%)
- Finding qualified workers (38%)
- Inflation (28%)
- Commodity and materials costs (26%)
Survey respondents also identified several factors likely to shape business performance in the second half of 2025. Inflation is expected to negatively impact 78% of family businesses, while federal interest rates (60%) and gas and energy costs (68%) were also flagged as significant headwinds.
Nearly half (49%) said supply chain disruptions would have a negative effect, and 71% believe market volatility will hurt their business.
On the positive side, 64% believe artificial intelligence tools will have at least some positive effect on efficiency and growth.
Reasons for Optimism in Central Ohio
Despite these challenges, family business leaders expressed confidence in the local economy. More than 60% rated Central Ohio’s economic outlook as “good” or “very good,” citing key strengths such as:
- Quality of the regional workforce (53%)
- Proximity to large markets and infrastructure (40%)
- Availability of business resources (38%)
- Collaborative business culture (27%)
“Central Ohio’s family businesses are resilient,” said Natalie Ritter, Executive Director of the Conway Center. “Even as national uncertainty weighs on outlooks, our members continue to grow, hire, and invest because they believe in the strength of our region’s workforce and resources.”
The 2025 Family Business Forecast survey was completed by 50 family-owned business leaders in and around Central Ohio