Area businesses experienced a difficult 2020 but are expecting a much better 2021, according to the results of Mercer University’s 2020 Middle Georgia Economic Outlook Survey, released today.

The survey was conducted by the Center for the Study of Economics and Liberty (CSEL) in Mercer’s Stetson-Hatcher School of Business.

The CSEL received responses to its electronic survey from 96 individuals. Dr. Antonio Saravia, associate professor of economics and director of the Center, compiled the results, which can be viewed by clicking here or in the attached PDF.

“2020 was a difficult year for most businesses in Middle Georgia. The COVID-19 pandemic and the consequent lockdowns and restrictions produced a severe economic recession at national and local levels. Most of the financial and operational indices calculated based on answers to the survey were negative for 2020,” said Dr. Saravia. “Importantly, however, businesses in Middle Georgia were generally optimistic about the prospects for 2021. The availability of vaccines at the time of distributing the survey is likely to have played an important role in generating this favorable outlook.”

Respondents represented considerable variety in terms of company size, geography and industry. Most were small businesses under 101 employees, which accounted for 94% of the total number of respondents. The majority had principal offices located in Bibb (36%), Houston (32%) and Baldwin (14%) counties. Respondents represented a wide range of industries, led by retail trade (15%) and health care and social services (15%).

The Center for the Study of Economics and Liberty conducts the survey and publishes its results each year. For more information, contact Dr. Saravia at (478) 301-5541 or [email protected].