Businesses in Hawaii expressing pessimism towards tariffs and the overall economy
Revised Article:
Take a gander at these Hawaii businesses, bro, 'cause they ain't havin' a grand ol' time with the tariff situation. According to a peep at a new survey by ProService Hawaii, a whopping 77% of 'em are feelin' the tariffs' squeeze, with 37% claimin' they're "very concerned" and 40% feelin' "somewhat concerned."
These ain't playin', either - two-thirds of 'em reckon tariffs will hound 'em either "a lot" (33%) or moderately (33%), callin' it quits on just 8%.
The Chamber of Commerce Hawaii's got a separate survey goin', and they're reportin' some ugly numbers, too. So far, they've found that a staggering 88% of their respondents report bein' hit hard by the tariffs, with 60% sayin' they've been "significantly" affected and another 28% bein' "moderately" clobbered.
Now, listen up, 'cause things ain't lookin' too rosy for the island economy, either. Over half of 'em (53%) are droppin' the D on the economy, while only 9% think it's improvin'.
What's more, a large chunk (77%) is cuttin' back on business expenses, 'member? They're makin' tough choices, like cuttin' back on capital investments (69%), reducin' the hiring and staffin' budget (52%), and cuttin' back on marketing and advertisi'ments (47%).
So, what's bein' ' hit hardest? Well, product prices (77%) and supply chain costs (75%) are where they're feelin' the pain the most.
ProService Hawaii, the island's top HR service provider, asked the questions from April 15 to Friday. They ain't just focusin' on tariffs - they's also seekin' opinions on other economic pressures, such as the ongoing labor shortage and labor costs.
The picture ain't all gloom and doom, though. These folks got guts, man - 34% of 'em are feelin' "very" or "somewhat" confident their businesses will grow over the next year. They's bettin' on their own abilities, adaptin', competin', and growin', savvy as a sea otter.
But don't let that lil' sign of optimism fool ya. Overall, the ProService survey showed plenty of pessimism about the state of Hawaii's economy and the future. Only 9% of 'em think the economy's improvin', for Pete's sake.
Alright, here's the deal by the numbers:
- 77%: The percentage of Hawaii businesses that are "concerned" about tariffs
- 37%: The percentage that are "very concerned" about tariffs
- 40%: The percentage that are "somewhat concerned" by tariffs
- 53%: The number of respondents who describe Hawaii's economy as "declining"
- 9%: The businesses that believe the economy's improvin'
- 43%: The respondents who predict that the cost of business will "significantly" increase over the next year
- 33%: The respondents whose operational expenses have increased "significantly"
- 44%: The respondents whose costs have increased "somewhat"
- 7%: The businesses that have done more hiring in the past six months
- The tariff situation in Hawaii is causing concern for a large percentage of businesses, with 77% stating they are either very or somewhat concerned.
- Product prices and supply chain costs are the areas where businesses are feeling the impact of tariffs the most.
- Over half of the respondents (53%) describe Hawaii's economy as "declining," while only 9% believe it is improving.
- The ProService survey showed a general pessimism about the state of Hawaii's economy and the future, with only 9% of businesses thinking the economy is improving.
