Tracking trends

There are many ways to measure business trends. The trouble if that most economic surveys are several months old by the time their results are made public. Moreover, a good many of these indicators reflect statewide or national trends that don't allow for local variables.

The Cape Girardeau Chamber of Commerce has for some time sought a way to collect timely business data that could be shared with its members. Recently, the chamber was approached by Dr. Bruce Domazlicky, director of Southeast Missouri State University's Center for Economic and Business Research, with a plan.

The center will be compiling data on sales and employment trends and forecasts in Cape Girardeau County by asking businesses to voluntarily fill out monthly online surveys. Monthly reports based on the data will be shared with the news media and area chambers of commerce.

The success of the survey will be the participation of 100 to 200 businesses.

Successful businesses rely on valid information that helps guide decisions about hiring, expansion, equipment orders, marketing plans and many other variables that collectively spell the difference between success and failure.

This effort to gather useful information on a regular and timely basis holds considerable promise for business owners and managers looking for details that are specific to this market.