MNP Business Leaders Survey€¦ · Page 4 • The survey was conducted by a third-party market...
Transcript of MNP Business Leaders Survey€¦ · Page 4 • The survey was conducted by a third-party market...
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Presented by:
Date:
MNP Business Leaders SurveyCowichan Region 2016
Presented by:
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• Modelled after similar surveys conducted by MNP across Canada.
• Short pulse survey designed to provide an economic snapshot of the
local business community and opinions on key local issues.
• Developed in partnership with the Duncan Cowichan Chamber of
Commerce and Community Futures Cowichan.
• Goal is to generate baseline information so we can work together to
improve the local business climate and help local businesses succeed.
Introduction
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Methodology
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• The survey was conducted by a third-party market research firm, PRA Inc. under the guidance of MNP, the Duncan Cowichan Chamber of Commerce and Community Future Cowichan.
• In total, 704 businesses were contacted, 356 were reached and 202 business leaders completed the survey.
• Respondents included: business owners, CEOs, presidents, executive directors and designated senior corporate officers from businesses across all industry sectors in the Cowichan Region.
• Telephone interviews were conducted between January 13-26, 2016.
Methodology
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• Of the 202 respondents, 167 were Chamber members and 35 were randomly selected from other businesses.
• 40% of the businesses we spoke to participated in the survey, which is a very high response rate.
• Results will be posted on the Duncan Cowichan Chamber of Commerce Community Futures Cowichan and MNP Duncan websites.
Methodology
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Profile of Survey Participants
Where is your business located?
City of Duncan44.6%
Municipality of North Cowichan
30.1%
CVRD Areas21.9%
Town of Ladysmith
1.0%
Town of Lake Cowichan
0.5%
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Profile of Survey Participants
How many years has your company been in business?
Don't know / no response
1.5%3 yrs or less13.4%
4 to 10 yrs29.7%
11 to 25 yrs20.3
26 to 49 yrs22.8%
50 yrs or more12.4%
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Respondents by Number of Employees
49.5%
18.5%
11.5% 12.5%
4.5%2.0%
57.6%
20.9%
11.9%
6.6%
2.5%0.4%
1 to 4 5 to 9 10 to 19 20 to 49 50 to 99 200 plus
Survey Sample CVRD (BC Stats 2014)
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0.0%
14.0%
3.0%
2.0%
6.5%
9.9%
15.2%
7.2%
5.9%
18.8%
5.9%
7.9%
13.9%
5.9%
7.4%
4.0%
*Tourism
Retail Trade
Finance & Insurance
Arts, Entertainment & Recreation
Accommodation & Food Services
Health Care & Social Assistance
Construction
Agriculture, Forestry, Fishing & Hunting
Survey Sample CVRD (BC Stats 2014)
Respondents by Industry
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Results
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Business Performance - Financial
Compared to 12 months ago, how would you describe the financial
performance of your company today?
Better54.0%
Same32.2%
Worse11.4%Don't know /
no response2.5%
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Business Performance - Employment
In the past 12 months, has the number of people you employ increased,
decreased or remained the same?
Increased29.2%
Decreased9.4%
Remained the same
59.9%
Don't know / no response
1.5%
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Business Performance - Capital
In the past 12 months, would you say capital investments into your
business have increased, decreased or remained the same?
Increased30.7%
Decreased6.4%
Stayed the same56.4%
Don't know / no response
6.4%
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Business Challenges - Limitations
Is your business limited by:
28.2%
29.2%
32.2%
32.7%
35.1%
39.1%
20.0% 40.0%
Access to capital
Lack of skilled labour
Local government approval processes /inspections
Provincial government regulation
The image of the community
Transportation / shipping costs
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Business Challenges - Greatest
What is the greatest challenge facing your company in the next 12
months?
5.4%
5.9%
6.4%
6.9%
6.9%
9.4%
10.4%
12.4%
Cash flow
Uncertain economic climate / stability
Rising operation costs
Marketing / branding / promotion
Exchange rate
Maintaining client base / revenue / sales / profits
Managing growth / expansion
Skills shortage
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Business Challenges - Succession
Does your company have a succession plan?
No56.9%
Yes36.6%
Don't Know / No Response
6.4%
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Attitude on Government Performance
Would you say the Federal Government has been doing a poor job, only
a fair job, a good job or an excellent job in terms of creating a good
climate for business?
11.9%
31.2%
18.3%
0.5%
8.9%
29.2%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
Poor Fair Good Excellent Don't Know /No Response
Too Early toTell
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Attitude on Government Performance
Would you say the Provincial Government has been doing a poor job,
only a fair job, a good job or an excellent job in terms of creating a good
climate for business?
21.8%
45.0%
23.3%
2.0%
7.9%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
Poor Fair Good Excellent Don't Know / NoResponse
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Attitude on Government Performance
Would you say the Local Government has been doing a poor job, only a
fair job, a good job or an excellent job in terms of creating a good climate
for business?
21.8%
33.7%31.7%
4.5%
8.4%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
Poor Fair Good Excellent Don't Know / NoResponse
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Business Climate Competitiveness
How much do you agree that the Cowichan Region’s business climate is
competitive with other regions on Vancouver Island?
5.9%
9.9%
33.2%
26.7%
14.9%
9.4%
1 - Stronglydisagree
2 3 4 5 - Stronglyagree
Don't know / noresponse
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Local Government Feedback
What is the one thing you would tell the local government they should do
to improve the business climate here in the Cowichan Region? (Top 5)
8.4%
9.9%
10.9%
11.4%
15.3%
Nothing / continue as they are
Encourage new investments / industries /business developments
Improve management / policies / services (incl.spending / costs)
Increase or diversify marketing / promotion ofDuncan / Cowichan (attract tourists / customers)
Reduce red tape / easier to deal with (morepermits / better zoning / planning department)
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Local Government Feedback
From a business perspective, do you generally support or oppose the idea of
amalgamating the City of Duncan and the Municipality of North Cowichan?
Support72.3%
Oppose10.9%
Indifferent / Don't Care
7.9%
Don't Know / No Response
8.9%
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Economic Successes
What are three of the best economic successes or initiatives that have
occurred in the Cowichan Region? (Top Responses)
5.0%
5.4%
5.4%
7.9%
8.4%
8.4%
10.9%
Vancouver Island University Campus
Sunfest Music Festival
Roads / Infrastructure
Local parks and trail development
Cowichan Regional Visitor Centre
Wine industry development and wine tours
Local agriculture, food and culinary sector
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Economic Development Priorities
From a business perspective, what would you advise should be the top
priorities for economic development in the Cowichan Region? (Top 6)
8.4%
9.9%
11.4%
13.9%
16.8%
28.2%
Support the growth of existing businesses /promote local businesses
Attract businesses to relocate to the CowichanRegion / create employment
Improve community services and livability(housing / education / seniors / amenities)
Build / expand tourism infrastructure (hotels /attractions / natural beauty)
Improve local infrastructure and/or businessservices
Market the Cowichan Region as a tourismdestination
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Business Outlook - Finance
Thinking about 12 months from now, financially do you expect your
company to be performing better, about the same, or worse?
Better62.4%
Same32.2%
Worse2.5%
Don't know / no response
3.0%
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Business Outlook - Employment
Thinking about 12 months from now, do you expect the number of people
employed by your business to increase, decrease or remain the same?
Increase41.1%
Decrease3.0%
Remain the same54.5%
Don't know / no response
1.5%
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Business Outlook - Capital
In the next 3 years, would you expect your capital investment into your
business to increase, decrease or remain the same?
Increase48.5%
Decrease5.4%
Stay the same41.6%
Don't know / no response
4.5%
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Business Outlook - Capital
Why do you expect capital investments to increase, decrease or stay the
same in the next three years?
6.2%
6.2%
8.3%
8.3%
13.0%
16.6%
Necessary repairs / upkeep / upgrades /renovations
Purchase new machinery / equipment /vehicles
Optimism - product / services will be indemand / growth approach
No plans to change / no serious expenditurerequired
No need / set up at this point
Business growth / expansion
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Summary
Cowichan business community is cautiously optimistic
• 62% optimistic of business growth in 2016
• Local business climate is competitive with other
Island regions, but still room to improve
• Feedback to local government: cut the red tape
• Key business challenges for 2016
– Skills shortage
– Transportation / shipping costs
– Managing business growth and expansion
• 57% of respondents do not have a succession plan
• 35% of respondents say the image of the
community is limiting business growth
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For More Information
Peter van Dongen
Regional Marketing Manager
MNP
250.734.4321