Tag Archives: Tim Bruckner

Deloitte Report Reveals Mid-Market Companies Expect U.S. Economic Growth

Arizona business owners optimistic for 2015

BMO Harris Bank released a study that found that business owners and executives in Arizona were optimistic about the prospects for the state’s economy in the coming year.

Eighty-six percent of respondents feel Arizona’s economy will grow or stay at the same level in 2015 (39 percent say it will improve, 47 percent think it will remain the same). That outpaces their optimism in the national economy, where only 63 percent feel the U.S. economy will improve or stay the same next year. More than one-third (37 percent) of the respondents believe the U.S. economy will worsen in 2015. Arizona business owners’ local confidence is reflected in their positive attitude regarding growth in their own business, with more than half believing their business will grow next year.

“While there are some causes for concern, both internationally and domestically, business owners and executives continue to exude confidence in their ability to grow their business in today’s economic environment“, said Tim Bruckner, Arizona Head, Commercial Banking, BMO Harris Bank. “That continued confidence is vital to the business-led economic recovery that has taken place over the past five years.”

The survey asked Arizona business owners/executives if they believe the U.S. economy will improve, stay at the same level or worsen in 2015.
·         41 percent expect the economy to improve
·         22 percent expect the economy to remain at the same level
·         37 percent expect the economy to worsen

The survey also asked the same respondents if they believe their business will grow, stay at the same level, or shrink in 2015.
·         51 percent predicted growth in 2015 for their business
·         32 percent expect their business to remain at the same level
·         17 percent believe their business will shrink in 2015, an 11 percent increase from last year’s results

BMO Harris Bank conducted the same survey one year earlier, and the Arizona results this year were similar compared to 12 months ago with a few exceptions: In 2014, one-fourth of business owners expected the U.S. economy to worsen. That number this year increased to 37 percent. A year ago, 38 percent felt the state’s economy would stay the same. In the most recent survey, 47 percent of respondents expect Arizona’s to remain the same..

“The coming year is being heralded by positive momentum in consumer spending, which is music to businesses’ ears,” said Michael Gregory, Head of U.S. Economics, BMO Capital Markets. “Spending is finding support from strong job growth, lower energy costs and an appreciating U.S. dollar. In reaction to continued sturdy consumer spending, we look for more businesses to expand their production, lifting both capital expenditures and hiring. This job-led, domestic demand should propel economic growth 3% in 2015, the best result in a decade.”

The survey was conducted by Pollara with an online sample of 781 American business owners between September 8 and 18, 2014. A probability sample of this size would be accurate to +/- 3.5 percent, 19 times out of 20.

smartphone

Arizona Executives Don’t Vacation Without Smartphone

BMO Harris Bank released a study today that found that most business owners and executives in Arizona do not truly “get away from it all” when it comes to vacationing. Seventy-three percent of the respondents admit to checking their work emails during their time off; albeit 11 percent lower than the national average.

“Gadgets such as smartphones have been instrumental in making it easier to stay in touch, contributing to increased business productivity,” said Tim Bruckner, Managing Director, Commercial Banking – Arizona, BMO Harris Bank. “The flip side is that same instant access fuels our need to stay connected at all times.”

Nearly half (42 percent) of those surveyed regularly work more than 40 hours each week. That “always on the clock” mentality translates into long hours focused on work. While 61 percent of the Arizona respondents describe themselves as workaholics, only a small percentage of them (six percent) cite their workaholic tendencies as the primary reason for their success.