Lethbridge businesses, community optimistic about future: surveys

Results from three business surveys in Lethbridge have been released, showing optimism among owners about the health of their businesses.

Results from three surveys are showing growing optimism from business owners and residents in Lethbridge.

During a recent City of Lethbridge economic and finance standing policy committee (SPC) meeting, the committee was presented with results from the Lethbridge Chamber of Commerce’s Business and Community Issues Survey, the city’s Business Survey and the Community Satisfaction Survey.

“The results we heard today are incredibly valuable,” said Mayor Blaine Hyggen, who is chair of the economic and finance SPC.

“This is data we can use to help inform a whole host of decisions as we move forward with this council term.”

Business and Community Issues Survey

Through the Chamber of Commerce’s annual online survey of its members, nearly 80 per cent of respondents reported feeling optimistic about the future.

“It’s really exciting,” said Kevin Farrell, communications and policy manager with the Chamber.

“About 79 per cent of businesses were feeling optimistic about the overall health of their business, and one of the reasons why this is so exciting is this is an increase of more than 10 per cent over last year.”

Farrell says 51 per cent of members plan to hire new employees over the next year, 28 per cent will replace workers who have left or will soon leave and 12 per cent plan on releasing some current staff.

He says 61 per cent of respondents are positive about the region’s business climate.

“Our economy in southern Alberta is quite diversified, so we are fairly well-shielded overall from some of the macroeconomic challenges that are going on right now in Alberta and throughout the rest of Canada,” said Farrell.

“Businesses in this region have done a really good job of either preparing for or adjusting to the realities of international trade issues and are doing really quite well with pivoting.”

Farrell says these results will now be used as the Chamber enters its new policy development cycle.

“Which will see us really drill into some of these issues and provide some potential solutions,” he said.

Business Survey

The city contracted Deloitte LLP to complete the Business Survey, which received 152 responses from companies.

Eighty-one per cent of those surveyed said they would recommend Lethbridge to another business looking to expand or relocate.

Thirty-one per cent said they have seen an increase in revenue over the past 12 months, while 22 per cent brought in less money than expected.

The survey revealed 23 per cent forecast an expansion of operations, while only four per cent are thinking about downsizing or selling.

“The issues of business tax, utilities and community safety and social issues remain concerns,” said Sarah Amies, executive director of the Downtown Lethbridge BRZ.

“But, given those collaborative efforts on the part of the city, including the Lethbridge Police Service, community social development, urban revitalization, all of those pieces put together speak to a healthy, thriving downtown.”

Amies says having the results from the two business surveys will help with advocacy efforts and making positive changes going forward.

“When one supports local businesses and spends $1 in the community, two-thirds of that dollar tends to stay within the community,” said Amies.

“If you spend $1 in a franchise or big box, only about 11 cents of that dollar actually stays in the community.”

Community Satisfaction Survey

Forum Research spent two weeks in the summer speaking to 415 residents about their thoughts on the city for the Community Satisfaction Survey.

Ninety per cent reported a positive impression of their quality of life in the community, while 75 per cent were satisfied with the overall level and quality of services and programs being provided by the city.