SRP releases ‘2011 Metro-Phoenix Business Study’ - Ahwatukee Foothills News: Money

SRP releases ‘2011 Metro-Phoenix Business Study’

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Posted: Tuesday, April 3, 2012 4:58 pm

The “2011 SRP Metro-Phoenix Business Study: New Strategies for Success” reveals how businesses have survived and adapted operations during the economic slowdown. SRP, Arizona State University and WestGroup Research conducted the study to determine how businesses have adapted during the economic slowdown.

The study provides insight and analysis on the following:

• Biggest obstacles — Phoenix-area businesses were asked to name the top challenges faced in the past two or three years. Responses included: the economy (56 percent), cash flow (14 percent), finding/retaining customers (11 percent).

A similar study was done in spring 2007. The top challenges cited before the economic slowdown were cash flow (21 percent), finding/retaining employees (18 percent), finding/retaining customers (14 percent) and marketing (7 percent). Only 1 percent mentioned the economy.

In addition to partnering on this report, SRP also created the Business Resource Center (BRC) at srpbizresource.com. The BRC is a free, online, one-stop information center that offers business information, resources and advice to help take businesses to the next level.

The complete 2011 SRP Metro-Phoenix Business Study is available on srpbizresource.com.

The report’s findings are based on input received from 833 Phoenix-area businesses. Interviews were conducted primarily by telephone with business owners and management from August–November 2011.

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