MassBenchmarks

Pioneer Valley Growth Business Study

Daniel Hodge, Raija Vaisanen, Kate Wilkinson, and Carrie Bernstein

This business growth study looked at small-and medium-sized businesses (5 to 500 employees) in Hampden, Hampshire and Franklin Counties during the period known as the Great Recession, examining factors such as employment levels, sales and economic conditions to gauge the strength of the region and its economic performance and prospects. Despite facing the greatest global economic crisis in recent history, the study found that employment remained steady in 80 percent of businesses, with 40 percent expected to hire additional employees within the next three years. The project also included a detailed survey of over 170 businesses in the region to gauge success factors, obstacles to growth, and business and financing assistance.

The Pioneer Valley Growth Business Study was commissioned by the Pioneer Valley Growth Business Study Group, a coordinated effort of small business, economic development and planning agencies comprised of Common Capital, Inc., Franklin Regional Council of Governments, Massachusetts Growth Capital Corporation, MassMutual Financial Group on Behalf of Develop Springfield, Massachusetts Small Business Development Center Network, Pioneer Valley Planning Commission and the Western Massachusetts Economic Development Council.