Umpqua Bank 2023 Business Barometer: Optimism, Expectations for Revenue and Profitability Rise Despite Lingering Economic Concerns
LAKE OSWEGO, Ore., Sept. 19, 2023 /PRNewswire/ -- Umpqua Bank, a subsidiary of Columbia Banking System Inc. (Nasdaq: COLB), today announced the findings of its annual Business Barometer ― an in-depth study of the mood, mindset, and strategic priorities of small and middle market businesses across the U.S. While concerns about the direction of the economy persist, business optimism is rising, and expectations for revenue and profitability are increasing. The study also found a growing appetite among businesses to make prudent investments that will help them become more efficient and competitive.
- While concerns about the direction of the economy persist, business optimism is rising, and expectations for revenue and profitability are increasing.
- "While economic concerns linger, they're responding to the uncertainty with growing optimism and confidence in their ability to adapt and move forward.
- Businesses are planning strategic moves they believe will help them become more efficient, more profitable, and ready for what's ahead."
- 22% of middle market respondents are minority-owned while 23% of small business respondents are certified woman-owned and 17% minority-owned.