Majority of Alleghenies small business owners expect revenue increases in 2024
By Sarah Taylor
Image Credits: Downtown Bellefonte Inc.
When Zane Updyke of Johnstown’s Protective Pest Management was asked if he expects his company’s revenue to grow this year, he proudly claimed, “Absolutely!”, citing that his growth is already up 51% over past years’ sales.
His excitement and confidence mimics the expected outlook of small business owners throughout the Alleghenies, per a recent The Alleghenies poll. Across the country, according to the 2024 Business Owner Report from Bank of America, around 65% of small businesses expect their revenues to grow this year, but in the Alleghenies that percentage is even higher, at almost 77%.
Alleghenies small businesses are growing, too
The Bank of America report also found that, nationwide, 39% of small business owners plan to expand their businesses and 30% plan to hire more employees over the next 12 months. In the Alleghenies, our poll found that a higher percentage (62%) plan to expand their business, but the majority of small business owners (62%) plan to keep the same team — and for good reasons.
Kristy Hagan of GATHER at Flood City Cafe said, “I have had the same team for the past five years. I value my team and try to create a positive work environment in order to retain employees. They are the best.”
Likewise, when asked whether her team would grow or shrink this year, Jessica Clifford of Jessica Lyn Portraits said, “Neither — [we’ll] sustain [our current team] and give them more work.”
Small businesses’ outlook toward the Alleghenies economy
While only 42% of small business owners nationwide believe their local economy will improve, in the Allegheny region, 75% of those we surveyed are confident that the local economy will improve this year.
Madalyn Martinsen of Mayfield is one of those business owners, crediting her optimism to the multitude of new businesses popping up in downtown Hollidaysburg. Action Driven Education’s Timothy Kretchman similarly believes that the next year’s improvement lies in the fact that the “Alleghenies are finally looking toward a future that maintains its focus on the land and invaluable blue-collar workers, yet also plans to support future-focused online and tech-based careers.”
Clifford had a different reasoning, though. The owner of Jessica Lyn Portraits believes that more people are simply discovering that “this is a wonderful area to live, work and play.”
Will the election have an impact?
As the 2024 presidential race ramps up, it’s become one of the biggest concerns for small businesses nationwide. Nationally, roughly 78% of small business owners are worried about how it will impact their business. In the Alleghenies, the percentage is slightly less, but still a concern.
Start Smart Learning Center’s Elizabeth Hogue said, “Childcare funding is so vital right now and we need a president that sees the value in early childhood education.”
Updyke was more abrupt with his response. “Absolutely!” he said. “Who runs our country greatly affects our local economy.”
Martinsen wasn’t as concerned. Her business opened in 2020, on the day of the last presidential election, so she “is not sure what it is like to run a business under another administration” and “can only hope that, whichever way the election goes, we have more advocates for supporting small businesses.”
Other top small business concerns for the coming year include inflation, both nationwide and in the Alleghenies. Roz Pugh, owner of BizbyRoz, noted, “If people can’t afford regular expenses, they can’t afford for me to help them.”
Yet Pugh is optimistic about her small businesses’ success. She believes the Alleghenies’ economy will improve as long as “we all support local small businesses.”
Are you as optimistic about the success of small businesses in the Alleghenies? Tell us your thoughts in the comments and, if you enjoyed this story and want to learn more about what’s going on in the Pennsylvania Alleghenies, be sure to sign up for The Alleghenies weekly newsletter.
Startup Alleghenies helps startup and emerging small businesses succeed by providing free coaching to entrepreneurs in Bedford, Blair, Cambria, Fulton, Huntingdon and Somerset counties. To access personal, one-on-one support from a coach in your county, including guidance, resources, tools and networking opportunities, sign up at startupalleghenies.com.
