Greenville Chamber releases Spring 2025 Upstate Business Confidence Index Survey results
April 8, 2025
Top Business Leaders Share Divided Outlook on Economic Conditions
The Greenville Chamber has released the results of its Spring 2025 Upstate Business Confidence Index Survey, revealing a business community that is uncertain about the economic outlook. While some businesses anticipate growth, others foresee challenges ahead, underscoring the key theme of an unsettled regional business community.
The survey, which gathered insights from more than 100 of the Greenville Chamber’s most engaged Investors, highlights a split in expectations for the next six months. While 38% of respondents expect business conditions to improve, 34% anticipate conditions will get worse. This division is particularly pronounced among small businesses, which report heightened concerns about rising costs and operational challenges.
“In times of uncertainty, businesses need reliable data and strong community support,” said Carlos Phillips, Greenville Chamber President/CEO. The Chamber is committed to informing and influencing decisions with better data which will help the business community move forward with confidence.”
Key findings from the survey include:
- Business Conditions: A nearly even split in expectations for the next six months, with optimism slightly lower among small businesses.
- Rising Costs: The overwhelming majority of employers anticipate increased payroll and benefits expenses, affecting profitability and hiring decisions.
- Barriers to Growth: Inflation, labor force challenges, financing hurdles, and regulatory burdens are among the top obstacles to growth. For manufacturers, both supply chain and regulatory issues are significant concerns.
- Sector Variability: Several key industries, such as manufacturing, services and healthcare, report below-average confidence compared to others.
- Long-Term Outlook on Greenville: More than 92% of businesses indicated that they would still be operating in Greenville in five years, with most planning on being larger than they are now.
These insights will provide valuable guidance for elected officials, economic development partners and business leaders. Plans are for the survey to be administered every six months to provide additional insight into changes in regional business confidence.
The full results of the Business Confidence Index Survey are available here: www.greenvillechamber.org.
