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WTIA October 2008 Economic Impact Study
Last post 10-29-2008, 10:53 PM by Skibler. 0 replies.
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 10-29-2008, 10:53 PM |
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Skibler
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Joined on 05-23-2008
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Posts 263
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WTIA October 2008 Economic Impact Study
WTIA Economic Impact Survey
October 30, 2008
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| What industry do you represent? |
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| Technology (within Washington state) |
72% |
| Technology (outside Washington state) |
8% |
| Other Answers |
20% |
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| Is your business primarily business-to-business or business-to-consumer? |
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| Business-to-Business |
74% |
| Business-to-Consumer |
32% |
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| What is the nature of your business? |
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| Software |
30% |
| Hardware |
6% |
| Online |
20% |
| Consulting |
32% |
| Professional Services |
32% |
| Other Answers |
18% |
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| Is your business directly impacted by the financial crisis? |
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| Yes |
No |
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| 70% |
30% |
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| How is the financial crisis affecting your company's plans to raise capital? |
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| No effect |
30% |
| Delaying |
18% |
| Reducing |
10% |
| On Hold |
10% |
| Not applicable |
28% |
| Other Answers |
4% |
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| How is the financial crisis affecting current demand for your company's product or service? |
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| No effect |
30% |
| Somewhat reduced |
42% |
| greatly reduced |
12% |
| somewhat increased |
16% |
| greatly increased |
0% |
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| Do you anticipate that the financial crisis will have an impact on demand for your company's product or service in the next 3-6 months? |
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| No effect |
14% |
| Somewhat reduced |
42% |
| greatly reduced |
14% |
| somewhat increased |
28% |
| greatly increased |
2% |
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| Has the financial crisis changed your outlook for hiring in the coming quarter? |
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| No effect |
32% |
| Somewhat reduced |
26% |
| greatly reduced |
30% |
| somewhat increased |
10% |
| greatly increased |
2% |
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| Is the finanacial crisis causing your company to reallocate resources from or to specific business functions such as R&D or marketing? |
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| Yes |
No |
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| 42% |
58% |
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| If yes, which business functions are you reallocating? |
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| To Human Resources |
2% |
| To Finance |
0% |
| To Legal |
0% |
| To Marketing |
16% |
| To Operations |
4% |
| To R&D |
10% |
| To Sales |
37% |
| From Human Resources |
12% |
| From Finance |
2% |
| From Legal |
6% |
| From Marketing |
16% |
| From Operations |
18% |
| From R&D |
8% |
| From Sales |
2% |
| Other Answers |
41% |
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| Is the financial crisis affecting any plans your company may have for investing in growth or expansion? |
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| No effect |
32% |
| Somewhat reduced |
44% |
| greatly reduced |
22% |
| somewhat increased |
0% |
| greatly increased |
2% |
Other Comments
We expect to have to make our first significant RIF in nearly 7 years
In the past week, three solid near-final agreements for consulting services simply went away as all of the companies were affected by the economic free-fall before committing.
Companies likely are waiting until after the election, but then we're almost immediately into the holiday season, and that means it'll be early 2009 before any of the short-term decisions can be unwound and the projects move forward.
Luckily, since we consult on email marketing, we're in the prime season to still pitch clients who have some anxiety over Christmas, and see our service as an affordable insurance against a further downturn this holiday season.
We were going to open three retail locations, but have decreased that to one in the next year.
We may modify our marketing emphasis to focus on cost reduction more than competitive advantage and we may be spending more time looking at the middle market companies who need our help.
Survey Media Partner
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