SYS-CON MEDIA Authors: Pat Romanski, Elizabeth White, Liz McMillan, Plutora Blog, Trevor Parsons

News Feed Item

Majority of Businesses in Georgia Plan on Investing in Their Business in 2014 - BMO Harris Bank Study

ATLANTA, GA -- (Marketwired) -- 03/13/14 --


  • 66 percent of Georgia-based respondents plan on investing in their businesses in 2014
  • Hiring topped the list of priorities for business investment, followed closely by upgrading/purchasing new equipment.

BMO Harris Bank released a study today that found that the majority of business owners/executives in Georgia plan on investing in their business in 2014. Hiring more employees tops the list of investment plans, followed closely by upgrades and purchases of equipment.

"Between hiring plans and increasing spending on training, business owners and executives in Georgia are investing in their people," said Todd Giles, Managing Director, Commercial Banking, BMO Harris Bank. "By making significant investments in their businesses, local leaders are displaying confidence in the economy, and confidence in their prospects for growth."

When business owners/executives were asked where they would make those business investments:

  • 34 percent plan to hire more employees
  • 32 percent said they would upgrade or purchase new equipment
  • 24 percent were focused on modernizing technology and systems
  • 24 percent planned on increasing spending on employee training

34 percent of respondents in Georgia were not planning on making business investments in 2014, with the most popular reason being concerns about the current economic conditions.

National Results from the Survey

When business owners/executives nation-wide were asked where they would make business investments:

  • 42 percent said they would upgrade or purchase new equipment
  • 26 percent planned on hiring more employees
  • 25 percent were focused on modernizing technology and systems
  • 24 percent planned on expanding operations

"The numbers shouldn't come as a surprise," added Jud Snyder, Managing Director and Head, BMO Harris Equipment Finance Company. "They reflect what we've seen over the past 18-24 months, with companies making more investments in capital expenditures for both maintenance and expansion."

Notably, business executives and owners of companies with revenues of over $20 million per year were particularly bullish, as over 80 percent planned on investing in their business in 2014.

Financing Options Vary

As for funding, nation-wide, the majority (58 percent) of those planned on making their business investments with cash reserves. 11 percent planned to fund the investments entirely through borrowing, while 31 percent planned on doing a combination of both.

"These findings display continued conservatism when it comes to the use of debt for funding growth, a conservatism that stems from lessons learned during the recent recession," said Snyder. "However, with interest rates still at historically low levels, in many cases, intermediate-term borrowing should still be strongly considered as an option for financing future growth."

For more commentary on the survey findings, visit the BMO Harris Commercial Bank Resource Center:
https://resourcecenter.bmoharris.com/Insights/equipment-finance/business-outlook-cash-vs-debt-equipment-financing

The survey was conducted by Pollara with an online sample of 601 American business owners in November, 2013. A probability sample of this size would be accurate to +/- 4%, 19 times out of 20.

About BMO Harris Bank
BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. BMO Harris Bank provides a broad range of personal banking products and solutions through over 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Arizona and Florida. For more information about BMO Harris Bank, go to the company fact sheet. Deposit and loan products and services provided by BMO Harris Bank N.A. BMO Harris® and BMO Harris Bank® are trade names used by BMO Harris Bank N.A. Member FDIC. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with approximately 1,600 branches, and approximately CDN $5593 billion in assets (as of January 31, 2014).

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
You use an agile process; your goal is to make your organization more agile. But what about your data infrastructure? The truth is, today's databases are anything but agile - they are effectively static repositories that are cumbersome to work with, difficult to change, and cannot keep pace with application demands. Performance suffers as a result, and it takes far longer than it should to deliver new features and capabilities needed to make your organization competitive. As your application an...
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
More and more file-based and machine generated data is being created every day causing exponential data and content growth, and creating a management nightmare for IT managers. What data centers really need to cope with this growth is a purpose-built tiered archive appliance that enables users to establish a single storage target for all of their applications - an appliance that will intelligently place and move data to and between storage tiers based on user-defined policies. In her session a...
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, ...
Over the last few years the healthcare ecosystem has revolved around innovations in Electronic Health Record (HER) based systems. This evolution has helped us achieve much desired interoperability. Now the focus is shifting to other equally important aspects - scalability and performance. While applying cloud computing environments to the EHR systems, a special consideration needs to be given to the cloud enablement of Veterans Health Information Systems and Technology Architecture (VistA), i.e....
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP ...
"Application monitoring and intelligence can smooth the path in a DevOps environment. In a DevOps environment you see constant change. If you are trying to monitor things in a constantly changing environment, you're going to spend a lot of your job fixing your monitoring," explained Todd Rader, Solutions Architect at AppDynamics, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Desktop as a Service is emerging as a very big trend. One of the big influencers of this – for Esri – is that we have a large user base that uses virtualization and they are looking at Desktop as a Service right now," explained John Meza, Product Engineer at Esri, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use c...
High-performing enterprise Software Quality Assurance (SQA) teams validate systems that are ready for use - getting most actively involved as components integrate and form complete systems. These teams catch and report on defects, making sure the customer gets the best software possible. SQA teams have leveraged automation and virtualization to execute more thorough testing in less time - bringing Dev and Ops together, ensuring production readiness. Does the emergence of DevOps mean the end of E...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.