CPAs forecast Ohio's economic health in Statewide Business Poll.

• Author: Schuette, Kim

As 2006 begins, it's natural that Ohioans will wonder how the economy will affect them in the coming year. Will they keep their health care benefits? Will they get a raise? Will there be more jobs available or will there be slim pickings?

Answers to these and other questions about what lies ahead for the state's economy and business climate are provided in the results of The Ohio Society of CPAs third annual Statewide Business Poll.

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Predicted drops in health care coverage and the importance of financial literacy topped the list of results.

"In today's information age, people expect an immediate and accurate flow of information on what shapes their lives, such as the business climate and the economy," said Ohio Society Executive Board Chair Janice L. Culver, CPA, KeyBank and McDonald Financial Group in Cleveland. "The Society Statewide Business Poll helps provide a gauge for where Ohio's economy could be heading in 2006."

Participating in the poll were 850 members of The Ohio Society who hold senior positions in Ohio businesses of all sizes, including as partners in CPA firms and chief financial officers, on a variety of current and future economic and business issues.

Trusted business advisers

CPA business leaders are at the center of business planning and decisions, according to Culver. By drawing on and showcasing the skills of CPAs as counselors to clients and businesses, results of the Society Statewide Business Poll help identify business trends and issues in Ohio.

"Ohio CPAs have keen insight into the financial issues facing Ohioans today," Culver said. "As trusted advisers, CPAs interact with many business owners and professionals every day, and we are in an ideal position to feel the pulse of the marketplace and economy."

Thomas Sawyer, Ph.D., president of Opinion Consultants who helped design the poll the past three years, said, "The results of this survey enhance public awareness of the CPA profession. It also demonstrates that CPAs are valuable sources for business advice."

Health care costs a major challenge

Ohio Society members forecasted that soaring health care costs would more than likely cause some employers to drop health care as a benefit for employees in 2006:

* Two-thirds (67 percent) of survey respondents estimated that health care insurance costs would rise from 10 percent to 20 percent in 2006.

* One in five predicted it was likely that a significant number of employers would eliminate health...