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Survey shows businesses recovering from pandemic impact

Stacy Wescoe//January 25, 2022

Survey shows businesses recovering from pandemic impact

Stacy Wescoe//January 25, 2022

Most business owners in the region are saying their business is nearly back to normal since the start of the COVID-19 pandemic. 

Provident Bank has released an economic outlook survey finding that 86% of business owners in Pennsylvania and New Jersey say they have fully recovered or expect to fully recover in 2022 from the economic impact of the pandemic.  

The survey covered the top challenges and conditions Pennsylvania and New Jersey businesses expect to face in 2022.  

A big challenge was the workforce, with 50% of respondents saying there are not enough applicants to fill open positions.  

Despite that shortage, however, more than 45% of companies said they plan to increase hiring in 2022.  

The survey also found that more than half (51%) of respondents said the majority of their staffs will be working in the office over the next 12 months. 

Approximately 57% of business owners have made cybersecurity a top priority for their organization and are well prepared in this area. 

Provident Bank surveyed 381 C-level executives and business owners between the ages of 25 and 90. About 25% of respondents were in the technology industry and about 14% were in retail. 

 

  

 

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