Local Business Leaders Optimistic About Y2K
Posted December 16, 1999FOR IMMEDIATE RELEASE
(YORK, PA)--According to a York College/York Federal Institute for Regional Affairs survey, most local business leaders do not believe the Year 2000 changeover will greatly impact the local economy.
The survey also asked local business leaders about how the Internet will likely affect long term business practices.
Out of 78 respondents, 82 percent believe local economic conditions will remain the same during the next six months, 10 percent believe the economy will grow and 8 percent believe that overall business conditions will decline.
When asked specifically about the Year 2000 computer glitch, 60 percent expect a few problems, 26 percent don't expect any significant problems and 9 percent aren't sure what will happen. When asked about their own Y2K readiness, 53 percent are confident about their status, while 38 percent insist that they are fully Y2K compliant.
Two-thirds of the respondents believe the Internet will play a strong or massive role in their future business strategy, and 80 percent of the business leaders currently use the Internet. When asked whether or not the Internet will shape the future of business, 16 percent aren't sure, 46 percent believe it will play a significant role and 25 percent believe the Internet will revolutionize the way people and companies do business with one another.
Dr. Ken Slaysman, Executive Director for the Institute for Regional Affairs, said, “This survey represents the answer to three critical economic questions. First, the reduced optimism about the future indicates the Federal Reserve's efforts to cool down the economy are starting to have an effect. Second, despite the fact that over 60 percent of our respondents are in manufacturing, the Internet will play an enormous role in shaping the local economy of the future. Last, but not least, we're seeing evidence that local businesses are not only aware of the Y2K problem, they're also confident the preventative measures they've taken will confine the disasters to Nike commercials.”
For more information please contact Ken Slaysman, Executive Director for the Institute for Regional Affairs, at (717) 815-1708.
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