News Summary
A recent survey reveals that Raleigh’s small and mid-sized business owners are exhibiting a record level of optimism despite concerns over inflation and economic challenges. The survey indicates that 84% of local business owners feel more positive about their prospects, with many expecting growth in demand and profits. Inflation remains a significant concern, with 51% worried about rising prices, but overall, sentiment about the local economy surpasses national averages. Economic experts believe that growth will continue, albeit at a slower pace due to inflationary pressures and other risks.
Raleigh Business Owners Show Record-Level Optimism Despite Inflation Concerns and Economic Challenges
Raleigh, NC — A recent survey indicates that the majority of small and mid-sized business owners in Raleigh are feeling increasingly optimistic about their prospects, even as concerns about inflation and broader economic uncertainty persist. According to the latest semi-annual survey conducted by Artemis Strategy Group, 84% of business owners statewide report feeling more positive about their businesses compared to previous periods, marking a record level of optimism.
Key Findings on Business Sentiment
The survey, which included 500 business owners across the United States and 150 from Raleigh’s metro area, was conducted during July and August. Despite the overarching optimism, business owners highlight inflation as their greatest potential risk over the next six months. Specifically, more than half of Raleigh’s business leaders—51%%—are concerned about rising prices, which is slightly higher than the national figure of 46%.
In terms of economic outlook, local owners are generally more upbeat about the regional economy than their national counterparts. About 75%% of Raleigh business owners have a positive view of the local economy, surpassing the national average of 67%. Additionally, 44% express bullishness about the global economy, the highest percentage recorded in the survey’s history.
Business Growth and Employment Outlook
Looking ahead to the next six months, more than half of Raleigh’s business owners—53%%—anticipate an increase in demand for their products or services. Furthermore, over 46% expect their profits to grow. Regarding employment, a smaller proportion, about 5%, plan to hire full-time staff, while 15% intend to increase the hours worked per employee, reflecting cautious optimism around workforce expansion.
Risks and Challenges Amid Economic Uncertainty
Despite the positive outlook, business owners remain aware of potential risks. Tariffs and trade uncertainties pose significant concerns, along with weaker job gains and high-interest rates that could impact growth. The economy’s trajectory might be affected by these factors, though recent data suggests that the U.S. economy is currently in solid health, with stock prices near record highs, ongoing employment growth, and strong consumer demand.
Nationally, optimism among business owners has been rising steadily, with nearly 60% feeling positive about the U.S. economy. This is an increase from 50% in the spring and 56% last fall. Additionally, more than 35% of Raleigh business owners believe a recession is likely within the next year, with around 7% considering it “extremely likely.”
Economic Experts’ Perspectives and Future Outlook
Leading economic analysts, including the head of a major Federal Reserve Bank, suggest that economic growth will continue over the next year but at a slower pace due to inflationary pressures. In Wake County, economic forecasts project continued growth into 2025, supported by population increases which serve as a primary driver of the region’s economic success.
However, the region faces challenges stemming from population growth, such as pressures on housing markets and commercial real estate. Office space vacancy rates are gradually recovering as companies adapt to a hybrid model balancing remote and in-office work. Experts note that after some easing of inflation and hiring challenges, small businesses remain generally optimistic about the economic future.
Regional Development and Unique Challenges
While economic prospects remain positive, maintaining a balance between affordability for residents and attractiveness for businesses continues to be a key focus. Additionally, efforts to attract major sports franchises, such as a Major League Baseball team, highlight the region’s ambitions for economic vitality, requiring substantial corporate partnerships to support such initiatives.
Overall, Raleigh’s business community exhibits a resilient outlook amidst ongoing uncertainties, with many firms expecting growth opportunities despite inflation and geopolitical risks. The region’s strategic economic planning and population growth are seen as critical factors contributing to the positive momentum moving forward.
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HERE Resources
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Additional Resources
- Business North Carolina: Small Business Owners Confident Despite Rising Costs
- WRAL: Raleigh Residents Optimistic About Business Changes
- Axios: North Carolina’s Strong Economy Uncertain in 2025
- CBS17: Cautious Optimism for Raleigh Area Economy in 2025
- ABC11: Eye on Economy: NC Consumer Confidence
Author: STAFF HERE RALEIGH WRITER
RALEIGH STAFF WRITER The RALEIGH STAFF WRITER represents the experienced team at HERERaleigh.com, your go-to source for actionable local news and information in Raleigh, Wake County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the North Carolina State Fair, Raleigh Arts Festival, and the Hopscotch Music Festival. Our coverage extends to key organizations like the Greater Raleigh Chamber of Commerce and Visit Raleigh, plus leading businesses in technology and education that power the local economy such as Red Hat and NC State University. As part of the broader HERE network, including HEREAsheville.com, HERECharlotte.com, HEREGreensboro.com, and HEREOBX.com, we provide comprehensive, credible insights into North Carolina's dynamic landscape.
