Hartford Business Journal Special Editions

NBT2024Survey

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8 ECONOMIC OUTLOOK SURVEY | JANUARY 8, 2024 HBJ 2024 ECONOMIC OUTLOOK SURVEY WHAT METHOD DO YOU PRIMARILY PLAN TO USE TO RAISE CAPITAL IN 2024? HOW WILL YOUR NEEDS CHANGE OFFICE SPACE FOOTPRINT WILL SHRINK OFFICE SPACE FOOTPRINT WILL INCREASE WE DON'T PLAN TO RAISE CAPITAL BANK LOANS PUBLIC MARKETS MICRO- INVESTORS (OR "CROWD- FUNDING") OTHER PRIVATE INVESTMENT (INCLUDING VENTURE CAPITAL) 65.2% 10.7% 11.1% 8.7% 4% 0.4% 12.5% 14% DO YOU PLAN TO MAKE A MAJOR INVESTMENT IN PROPERTY, PLANT OR EQUIPMENT IN 2024? YES NO TOO SOON TO TELL/ DON'T KNOW 27.9% 53.2% 19% 60% 50% 40% 30% 20% 10% 0% 80% 70% 60% 50% 40% 30% 20% 10% 0% 80% 70% 60% 50% 40% 30% 20% 10% 0% WHAT IS YOUR ESTIMATE FOR YOUR COMPANY'S BOTTOM LINE (NETINCOME/PROFIT) PERFORMANCE IN 2024 COMPARED TO 2023? NEW PRODUCTS NEW CUSTOMERS BETTER RETENTION RATE OF CURRENT CUSTOMERS CURRENT CUSTOMERS BUYING MORE DECREASE MORE THAN 20% DECREASE 11 TO 20% DECREASE 1 TO 10% NO GROWTH INCREASE 1 TO 10% INCREASE 11 TO 20% INCREASE MORE THAN 20% IF YOU ANTICIPATE REVENUE GROWTH, WHERE WILL IT COME FROM? 25.1% 73% 36.7% 34.9% 80% 70% 60% 50% 40% 30% 20% 10% 0% 50% 40% 30% 20% 10% 0% 1.5% 4.9% 13.9% 21.4% 45.7% 8.6% 4.1%

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