Lethbridge, AB…For the 5th consecutive year, Economic Development Lethbridge (EDL), the Lethbridge Chamber of Commerce and Downtown Lethbridge BRZ have conducted their Brighter Together Business Survey. The survey collects data from Lethbridge and area businesses in an attempt to gauge the overall sentiment of the business community, provide the organizations listed above with feedback as to where they can best help, and as most questions are consistent each year, allow for further inspection into trends and variables within the business community.

“One reason we always ask the same or like questions is it allows us to benchmark and compare from
previous years,” notes Economic Development Lethbridge, CEO, Trevor Lewington. “The Brighter Together
survey provides us with information which then allows us to look for solutions for businesses in Lethbridge. We
use this information and other data to help shape the work we do in growing our economy through investment
attraction, business retention, workforce development and other programs and initiatives.”

Results of the 2023 Brighter Together survey indicate that optimism among local businesses remains high, as
two thirds (66%) of respondents expressed a favourable outlook for the next 6-12 months. 56% of businesses
who took the survey mentioned witnessing a moderate or substantial growth in their business over the past 12
months. 70% of businesses who completed the survey noted that they do expect to see a rise in operational
costs in 2024.

More data from the Brighter Together survey highlighted:

• The biggest strengths to doing business in the Lethbridge area include quality of life, proximity to complimentary industries, and a collaborative environment. These were also the top 3 strengths in the 2022 survey and quality of life as a strength, has been in the top 3 since 2019.

• The 3 biggest locational challenges to doing business in the Lethbridge area include utilities costs, municipal tax environment, and ease of permitting & regulatory procedures.

• Local businesses are currently seeking help with acquiring employees, upgrading digital processes, and strategies to retain employees.

• Looking forward to 2024, businesses are anticipating the biggest obstacles to doing business in Lethbridge are rising costs of inputs, rising interest rates & debt costs, and the rising cost of labour.

“2023 was a year of uncertainty for a lot of Lethbridge and area businesses, and some of that uncertainty
stemmed from conditions they could not control,” commented, Lethbridge Chamber of Commerce, CEO, Cyndi
Bester. “Rising inflation and interest rates has made things more expensive than they have been in previous
years and that affects businesses looking to grow and expand with their purchases and the habits of
consumers. Lethbridge businesses are resilient and are looking for new and innovative ways to provide goods
and services to our city and region and this survey gives our organization and others a road map to where we
can help the most.”

Results of the Brighter Together survey were made public earlier today at the Mayors’ State of the City
Breakfast event hosted by the Lethbridge Chamber of Commerce. Detailed survey results can be found on the
Economic Development Lethbridge website, www.chooselethbridge.ca.

For more information, contact:
Mark Neskar
Director, Marketing & Communications
Economic Development Lethbridge
403-393-6376
mark@chooselethbridge.ca