New Jersey Businesses Register Ambivalence Towards Post Election Results

Dec 22, 2010, 16:57 ET from Alloy Silverstein Group

CHERRY HILL, N.J., Dec. 22, 2010 /PRNewswire/ -- New Jersey businesses are feeling rather ambivalent as to the impact the recent election results will have on the economy.

In a recent survey sent to 1,170 New Jersey CEOs and CFOs of companies with over 100 employees by The Alloy Silverstein Group, only half of those responding felt confident the economy would improve as a result of elections. 52 percent felt their businesses were stable, while 42 percent felt their companies were holding its own or slipping.

Other post election concerns of those responding to the survey are:

  • 73 percent believe there will be worse bipartisan cooperation
  • 43 percent expressed concern how next year's tax bill would affect their businesses, while 30 percent felt confidence.

The prominent apprehension of the survey concerned health care costs with 76 percent registering concern that it is not shaping up to be cost effective.

As prevailed throughout the quarterly surveys conducted in 2010, jobs remain the top national and local concern, trumping taxes and the national deficit.

"It appears that uncertainty has taken such deep roots that even a decisive election has done little to build an positive initial consensus. Future surveys may reveal more definitive answers as other shoes may drop," commented Ren Cicalese, shareholder and officer of The Alloy Silverstein Group.

This survey represents a 7 percent response from companies surveyed. The Alloy Silverstein Group is a full service, regional accounting firm with offices located in Cherry Hill and Hammonton, NJ.

SOURCE Alloy Silverstein Group