Family Business Forecast Results are in! - Conway Center for Family Business

Family Business Forecast Results are in!

Graphic with text 2023 Family Business Forecast

The 12th Annual Family Business Forecast survey, conducted by the Conway Center for Family Business, revealed that more than 8 in 10 Central Ohio family business leaders­ are satisfied with the current state of their family business at the midway point of 2023.

Six in 10 (63.5%) Central Ohio family business leaders predict their business will be in an even better place by the end of the year, and eight in 10 (82.5%) expect to increase hiring in the last half of 2023.

Encouraging responses about regional business performance show a positive outlook about the perceived direction of Central Ohio’s economy, in part due to Intel’s recent investment in the area.

New economic conditions have also stoked fears about a rising costs and a potential recession. More than 8 in 10 of those surveyed said federal interest rate hikes and inflation will have a negative impact on their family business for the remainder of the year. Additionally, 7 in 10 add that persistent supply chain disruptions and market volatility will also negatively impact business in the last half of 2023.

Read the full results of the 2023 Family Business Forecast on our website!

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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