I’ve been reading forecasts for 2011 from multiple sources.  While they might not all agree on every point, I do see a theme emerging: we anticipate that 2011 will be a year of small, bumpy improvements over the past couple of years. 

In a survey conducted by TD Bank released in the 4^th quarter, I picked up the following encouraging statistics from a survey of 100 executives back in August, 2010:

·         45% have seen sales start to pick up in the past year (and 58% are expecting growth in 2011)

·         39% are planning capital investments – the front runner is technology, but increases are also anticipated in development, staffing, facilities & office equipment.

The Wall Street Journal conducts periodic surveys of 56 economists and their latest update is full of encouraging signs in manufacturing, retail, consumer sentiment, etc.  They also noted that the Bush-era tax cut extensions will likely further improve the outlook for next year (especially when the employee FICA reduction is factored in).

No report is without warnings and caveats, but it does feel like the consensus is that the worst is probably behind most of us.

So what are the things we’re still concerned about?  Unemployment?  Absolutely.  Housing/Construction?  Sure.  But 69% of the financial executives in the TD survey worry most about cash flow management going in to 2011.  There have been any number of lessons learned around use of cash, managing liabilities, evaluating staffing vs. company performance/growth.  Gone are the days of excess spending.  Today’s executives are carefully evaluating the use of their limited resources.

As you evaluate your strategy for 2011, I hope you’ll reach out to your network for guidance and constructive feedback.  If there are areas where you business needs bolstering and you have sufficient resources to invest, go for it.  We can’t exit the recession by staying home.  Spend, my friends, spend.

And with that, I’m off to the mall for some last minute Christmas shopping…