Survey: Businesses expect change during '11

More than 50 percent of businesses in the region are considering new product lines, entrance into new markets or acquisition of another company, finds a survey conducted by the Center for Regional Studies at the University of Nevada, Reno, and InfoSearch, a Reno research firm.

And change is nothing new.

The survey found that 74 percent of the responding companies said they've taken steps to reposition their businesses during the past year.

Among other findings in the study:

* Nearly 33 percent of respondents expect the region's economy to improve in the next 12 months, the highest level of optimism since 2006. About 16 percent expect conditions to worsen.

* About 44 percent of business people describe the current economic environment as "poor" and 15 percent say conditions are "very poor."

* More than 77 percent expect their company's capital expenditure to increase or remain stable in the next 12 months.

* Some 37.5 percent expect their company's revenues to increase in the next 12 months. This compares with 20.6 percent who expect a decrease.

* About 23 percent expect to add staff during the next 12 months, and 14.6 percent expect to reduce their workforces.

* About 47 percent of respondents say their business would be hurt by state budget cuts; 28 percent say reductions would have no impact.

* Energy, manufacturing and technology are the sectors business people would like to see growing to diversify the economy.

The study conducted from Jan. 10 to Feb. 3 drew responses from 525 people, most of whom own or operate businesses in the region. The full results are available for free at www.centerforregionalstudies.org/bizoutlook.