Brighter Together Business Survey Results Show Optimism for Future
Jan 29, 2020
For Immediate Release
Lethbridge, AB…Economic Development Lethbridge (EDL) and the Lethbridge Chamber of Commerce have concluded their survey of local businesses and sentiment about the overall business climate in Lethbridge. Of the 143 businesses that took part in the survey more than three quarters indicated they are upbeat about the overall health of their business.
More than 40% of the businesses that took part in the survey noted they expect to be busier than usual in the next 6-12 months, with a similar number of businesses expecting to increase operational spending over the same time period. The total number of businesses within Lethbridge has increased by 1% over the past two years with mid-sized enterprises (2099 employees) witnessing the strongest growth. Also encouraging is the fact that nearly one third of businesses who responded to the survey mentioned making Capital Investments in the next 6-12 months and almost half increasing their Labour Force in the same time period.
The results of the survey are invaluable according to Lethbridge Chamber of Commerce Executive Officer Cyndi Vos “This type of research is vital in helping us determine the overall feeling of the business community in our city. We know business owners face numerous challenges and this is a way for them to express what is concerning to them and give us the information we need to put plans in to place to assist them.”
Respondents to the survey noted Qualified Workforce, Labour Costs and Workforce Availability as the biggest disadvantages to doing business in the Lethbridge area. The two biggest advantages mentioned by local and area employers to doing business were Quality of Life and Stable Economic Conditions, two factors not surprising to Trevor Lewington, CEO for Economic Development Lethbridge, “Having a reasonably diversified economy has helped the city and region when compared to other areas of the province. Not being dependent on one or two sectors helps keep our economy growing and people working, living and enjoying our city and the quality of life it provides.” Lewington also says it’s encouraging to see the number of businesses looking to invest and expand soon. “It’s a great indicator that businesses feel confident in what they are doing and are in a place to take that next step. We, as an organization along with partners like the Lethbridge Chamber of Commerce and others are here to help.”
According to survey results and research collected, the total number of businesses in the Lethbridge Census Metropolitan Area (CMA) increased from 4,398 in 2017 to 4,457 in 2019.
For more information please refer to the attached Brighter Together 2019 Business Report Infographic. Both the Lethbridge Chamber of Commerce and Economic Development Lethbridge would like to thank the business community for participating in the survey.
The new community brand, Lethbridge Brighter Together, showcases our spirit of innovation and is more than just the way we do business. It’s a way of life. We recognize that we are a product of our incredible environment and know we each play a role in weaving the cultural fabric we proudly call our community; Brighter Together is how we can come together and help move Lethbridge forward.
For more information, contact:
Trevor Lewington,
CEO Economic Development Lethbridge
403.331.0022
Cyndi Vos,
Executive Officer Lethbridge Chamber of Commerce
403.327.1586
Lethbridge, AB…Economic Development Lethbridge (EDL) and the Lethbridge Chamber of Commerce have concluded their survey of local businesses and sentiment about the overall business climate in Lethbridge. Of the 143 businesses that took part in the survey more than three quarters indicated they are upbeat about the overall health of their business.
More than 40% of the businesses that took part in the survey noted they expect to be busier than usual in the next 6-12 months, with a similar number of businesses expecting to increase operational spending over the same time period. The total number of businesses within Lethbridge has increased by 1% over the past two years with mid-sized enterprises (2099 employees) witnessing the strongest growth. Also encouraging is the fact that nearly one third of businesses who responded to the survey mentioned making Capital Investments in the next 6-12 months and almost half increasing their Labour Force in the same time period.
The results of the survey are invaluable according to Lethbridge Chamber of Commerce Executive Officer Cyndi Vos “This type of research is vital in helping us determine the overall feeling of the business community in our city. We know business owners face numerous challenges and this is a way for them to express what is concerning to them and give us the information we need to put plans in to place to assist them.”
Respondents to the survey noted Qualified Workforce, Labour Costs and Workforce Availability as the biggest disadvantages to doing business in the Lethbridge area. The two biggest advantages mentioned by local and area employers to doing business were Quality of Life and Stable Economic Conditions, two factors not surprising to Trevor Lewington, CEO for Economic Development Lethbridge, “Having a reasonably diversified economy has helped the city and region when compared to other areas of the province. Not being dependent on one or two sectors helps keep our economy growing and people working, living and enjoying our city and the quality of life it provides.” Lewington also says it’s encouraging to see the number of businesses looking to invest and expand soon. “It’s a great indicator that businesses feel confident in what they are doing and are in a place to take that next step. We, as an organization along with partners like the Lethbridge Chamber of Commerce and others are here to help.”
According to survey results and research collected, the total number of businesses in the Lethbridge Census Metropolitan Area (CMA) increased from 4,398 in 2017 to 4,457 in 2019.
For more information please refer to the attached Brighter Together 2019 Business Report Infographic. Both the Lethbridge Chamber of Commerce and Economic Development Lethbridge would like to thank the business community for participating in the survey.
The new community brand, Lethbridge Brighter Together, showcases our spirit of innovation and is more than just the way we do business. It’s a way of life. We recognize that we are a product of our incredible environment and know we each play a role in weaving the cultural fabric we proudly call our community; Brighter Together is how we can come together and help move Lethbridge forward.
For more information, contact:
Trevor Lewington,
CEO Economic Development Lethbridge
403.331.0022
Cyndi Vos,
Executive Officer Lethbridge Chamber of Commerce
403.327.1586