63% of Sign Pros Expect a Recession to Affect Their Business in 2023

QUESTION:

Do you expect a recession involving signs and your business region in 2023?

Yes: 63%

• Seems like the cycle is due. We’ve had a few good years and we can always expect the tide to turn eventually. — Jean Shimp, Shimp Sign & Design, Jacksonville, FL
• We mainly serve the live events industry (and specifically live music), and expect a downturn in spending. — Dominic Tancredi, Woodshed Stage Art, Cleveland, OH
• I think people will be nervous and won’t invest in their business. — Rita Siprak-Weill, Minuteman Press Annapolis, Annapolis, MD

• It’s already apparent that things are slowing. Vehicle wraps are not a necessity to a small business. — Catherine Bacot, Wraps For Less, Orlando, FL

• I believe there will be a downturn but not as bad as the last recession in 2009. — Corey Shano, Associated Sign Co., Phoenix
• Judging from the news in the media. — Per Åsberg, Cogent Signs and Graphics Inc., Laguna Hills, CA

No: 37%

• At this point we already have most of our major projects on the books and under construction for 2023. Construction will be completed, recession or not. — Scott Muller, Trademark Visual Inc., Phoenix
• In the Pacific Northwest we have always seemed to have our own little economy. — Chad Lawson, Sign Pro of Skagit Valley, Mount Vernon, WA
• Organizations always need signage. If it’s not businesses, then it’s the essential services or government agencies. The need for signage isn’t going anywhere. — Jake Zani, Rule Signs & Graphics, Randolph, VT

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QUESTION:

How much do you plan to invest in your business (e.g., new equipment, additional staff, etc.) over the next six months?

I do not plan to make any investments.
23%
$1 to $10K
28%
$10K+ to $25K
15%
$25K+ to $50K
13%
$50K+ to $100K
11%
$100K+
10%

QUESTION:

How much do you plan to cut from your budget over the next six months?

I do not plan to make any cuts.
70%
$1 to $10K
23%
$10K+ to $25K
0%
$25K+ to $50K
3%
$50K+ to $100K
4%
$100K+
0%

What’s the Brain Squad?

If you’re the owner or top manager of a signage and graphics company in the US or Canada, you’re invited to join the Signs of the Times Brain Squad. By taking one five-minute survey each month, you will receive access to some of the industry’s freshest data on sales — including your fellow members’ comments on what’s selling and what isn’t — and can make your voice heard on key issues affecting the sign industry. Sound good? Sign up here.

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