2022 GREEN INDUSTRY OUTLOOK sponsored by


Pushing for GROWTH G


reen industry business owners are a generally more optimistic group than they were a year ago. tough not to be, given the amount


It’s


of work that rushed the market thanks to COVID-19 keeping so many people at home and thinking of ways to improve their living spaces. On estimated growth from the past year, responses are almost completely flipped from the previous survey. A full 52% have grown between 1% and 10%, and a quarter (25%) are looking at an increase of 11% or more. Contractor respondents were even more enthusiastic, with 30% expecting that same increase. Tese numbers fall more in line with 2020 and 2021, showing that last year was something of an outlier for a lot of- numerous reasons. Perhaps as evidence of the belief that business will remain stable, projected gross revenues for the year stayed roughly the same as each previous year of the survey. Most re- spondents expect to land in the same brack- ets, between $100,001 and $500,000 (23%) or between $1,000,001 and $5 million (26%). Looking at what held businesses back


from achieving their best growth, respon- dents cited a labor shortage (70%) as far and away the biggest hurdle. It accounted for almost the next two, insurance and labor costs (43%) and economic conditions (39%), combined. A total of 80% of contractor re- spondents said a labor shortage was their worst challenge in the past year. Tough labor has been the top concern for the past three years of the survey, this year seemed like an especially tough block to deal with for professionals.


What are your business’s two largest expenses?


16


Compared to 2020, how much do you expect your business has grown in 2021?


What is your business’s projected gross revenue for 2022?


Decrease Flat 1%-5%


6%-10% 11%-15% 16% or more


Less than $100,000 $100,001-$500,000 $500,001-$1 million


What barriers most impact your business growth? Labor shortage


Insurance/labor costs Economic conditions Equipment costs Low profit margins


Too much competition Weather conditions Regulations


Negative industry perceptions Aging client base


10% 9%


43% 39% 23%


18% 18% 18%


16%


$1,000,001-$5 million $5,000,001-$10 million More than $10 million


70%


Benefits and compensation


61% Irrigation & Lighting Spring 2022


50% Supplies


32% Fuel and


energy


Equipment acquisition


26%


24% Business


insurance


Equipment maintenance


17% irrigationandlighting.org


5% 18%


26% 26%


12% 13%


17% 23% 15% 26% 7% 12%


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