Press Release

Obama Winning Over Business Community in South Jersey

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Posted 02 December 2008 @ 06:00 am ET

CHERRY HILL, N.J., Dec. 2 /PRNewswire/ -- In a pre-election survey, SouthJersey businesses polled by accounting firm Alloy Silverstein Group planned tovote for Sen. John McCain over Sen. Barack Obama by a two to one margin. In apoll taken shortly after the election, 54 percent indicated they wereoptimistic about the new President Elect Obama. "And this was before favorablereaction of the selection of his economic team," noted Managing Partner RenCicalese.

Only 3 percent polled felt Iraq and terrorism was the most importantnational concern while the economy, not surprisingly, was chosen by 93.5percent. 52 percent indicated they thought it would take more than a year toimprove.

Sales volume was projected to be flat by over half of those polled andover half selected sales volume as the biggest issue for them in New Jersey.

65 percent plan to stay in New Jersey if and when they expand theirbusinesses.

The high tax rates and cost of doing business showed up as major concernsin the "comments" section of the survey.

Of companies polled, 72 percent have less than 50 employees and thelargest three industry categories were Service at 24 percent, Professional at23 percent, and Health Care at 18 percent. The survey was sent to Alloy'sbusiness client base of 673 with a response rate of 9 percent.

The Alloy Silverstein Group mid-November survey was the third survey takenthis year in a series of surveys projected to gauge the mood of the SouthJersey business community as it evolves over the coming critical period.

"The South Jersey business community will be sorting out the programs andprogress of the new administration against the backdrop of indicators thatwill most likely continue to be negative for a good part of 2009," commentedCicalese.

SOURCE Alloy Silverstein Group


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