63% of Sign Pros Expect a Recession to Affect Their Business in 2023

QUESTION:

Do you expect a recession involving signs and your business region in 2023?

Yes: 63%

Seems like the cycle is due. We’ve had a few good years and we can always expect the tide to turn eventually. — Jean Shimp, Shimp Sign & Design, Jacksonville, FL
We mainly serve the live events industry (and specifically live music), and expect a downturn in spending. — Dominic Tancredi, Woodshed Stage Art, Cleveland, OH
I think people will be nervous and won’t invest in their business. — Rita Siprak-Weill, Minuteman Press Annapolis, Annapolis, MD
It’s already apparent that things are slowing. Vehicle wraps are not a necessity to a small business. — Catherine Bacot, Wraps For Less, Orlando, FL
I believe there will be a downturn but not as bad as the last recession in 2009. — Corey Shano, Associated Sign Co., Phoenix
Judging from the news in the media. — Per Åsberg, Cogent Signs and Graphics Inc., Laguna Hills, CA

No: 37%

At this point we already have most of our major projects on the books and under construction for 2023. Construction will be completed, recession or not. — Scott Muller, Trademark Visual Inc., Phoenix
In the Pacific Northwest we have always seemed to have our own little economy. — Chad Lawson, Sign Pro of Skagit Valley, Mount Vernon, WA
Organizations always need signage. If it’s not businesses, then it’s the essential services or government agencies. The need for signage isn’t going anywhere. — Jake Zani, Rule Signs & Graphics, Randolph, VT

QUESTION:

How much do you plan to invest in your business (e.g., new equipment, additional staff, etc.) over the next six months?

I do not plan to make any investments.
23%
$1 to $10K
28%
$10K+ to $25K
15%
$25K+ to $50K
13%
$50K+ to $100K
11%
$100K+
10%

QUESTION:

How much do you plan to cut from your budget over the next six months?

I do not plan to make any cuts.
70%
$1 to $10K
23%
$10K+ to $25K
0%
$25K+ to $50K
3%
$50K+ to $100K
4%
$100K+
0%

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