MNP Business Leaders Survey

Transcription

1 MNP Business Leaders Survey Comox Valley 2017 Presented in partnership by: Presented by: Date:

2 Background and Purpose Conducted in partnership with the Comox Valley Chamber of Commerce and Comox Valley Economic Development Society. Modelled after similar surveys conducted by MNP across Canada, the MNP Business Leaders Survey is a short pulse survey designed to provide an economic snapshot of the local business community and opinions on key local issues. Page 2

3 Background and Purpose This is the second time the survey has been done in the Comox Valley. First survey was released two years ago in January Survey results were publically released at an economic outlook breakfast hosted by the Comox Valley Chamber of Commerce on January 19, Page 3

4 Methodology Page 4

5 Methodology The survey was conducted by a third-party market research firm, PRA Inc. under the guidance of MNP, the Comox Valley Chamber of Commerce and Comox Valley Economic Development. Telephone interviews were conducted between Nov 14-25, In total, 854 businesses were contacted, 321 were reached and 200 completed the survey. Page 5

6 Methodology Of the 200 respondents, 175 were Chamber members and 25 were from a random sample of other businesses in the Comox Valley. Respondents included: business owners, CEOs, presidents, executive directors and designated senior corporate officers from businesses across all industry sectors in the Comox Valley. The overall response rate was 30%, which is high for this type of survey. Page 6

7 Comox Valley Business Profile Businesses with employees 2,399 (33.3%) No employees / Self-employed 4,807 (66.7%) Source: Statistics Canada, Business Register Location Counts, June 2016 (includes Comox, Cumberland, Courtenay and CVRD Areas A, B and C) Page 7

8 Profile of Survey Participants Where is your business located? City of Courtenay 62.5% Village of Cumberland 4.0% CVRD Area A 4.5% CVRD Area B 3.0% CVRD Area C 4.0% Town of Comox 20.5% Other 1.5% Page 8

9 Respondents by Industry Retail trade Other services (except public administration) Professional, scientific and technical services Health care and social assistance Finance and insurance Accommodation and food services Tourism / Travel Educational services Real estate and rental and leasing Information and cultural industries Construction Arts, entertainment and recreation Transportation and warehousing Manufacturing Agriculture, forestry, fishing and hunting Unclassified Wholesale trade Administrative and support, waste management Management of companies and enterprises Utilities 11.0% 10.5% 8.5% 8.0% 7.0% 5.5% 5.0% 4.0% 4.0% 4.0% 3.5% 3.5% 3.5% 3.5% 1.5% 1.0% 0.5% 0.5% 0.5% 24.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% Page 9

10 Respondents by Industry OVER-REPRESENTED SURVEY COMOX VALLEY Retail Trade 24.0% 13.8% Information and cultural industries 4.0% 0.5% Finance and insurance 8.0% 3.2% UNDER-REPRESENTED SURVEY COMOX VALLEY Construction 4.0% 13.9% Administrative and support, waste management 0.5% 4.9% Agriculture, forestry, fishing and hunting 3.5% 7.4% Source: Statistics Canada, Business Register Location Counts, Comox Valley, June 2016 Page 10

11 Profile of Survey Participants How many years has your company been in business? More than 50 yrs 11.0% Don t know 2.0% Less than 3 yrs 11.5% 3-10 yrs 17.5% yrs 25.5% yrs 32.5% Page 11

12 Respondents by Number of Employees % % % % None / Self- Employed % 100 or more 4.1% Don't know / no Page 12

13 Technology Sector Does your company create or distribute technology goods or services, use advanced technology in the production of your goods or services, or generally consider itself a technology company? No 59.5% Yes 38.0% Don't know / no response 2.5% Page 13

14 International Exports Does your company currently export products or services outside of Canada? No 81.0% Yes 17.0% Don't know / no response 2.0% Page 14

15 Results Page 15

16 Business Performance - Employment In the past 12 months, has the number of people you employ increased, decreased or remained the same? Don't know / no response 1.0% Increased 39.0% Remained the same 53.0% Decreased 7.0% Page 16

17 Business Performance - Employment In the past 12 months, has the number of people you employ increased, decreased or remained the same? 70.0% 60.0% 50.0% 40.0% 39.0% 60.5% 53.0% 30.0% 20.0% 10.0% 0.0% 27.0% 11.5% 7.0% 1.0% Increased Remained the same Decreased Don't know / no response Page 17

18 Business Performance - Financial Compared to 12 months ago, how would you describe the financial performance of your company today? Better 56.5% Same 33.0% Don't know / no response 2.0% Worse 8.5% Page 18

19 Business Performance - Financial Compared to 12 months ago, how would you describe the financial performance of your company today? 60.0% 50.0% 52.5% 56.5% 40.0% 30.0% 20.0% 36.5% 33.0% 10.0% 0.0% 8.5% 8.5% 2.5% 2.0% Better Same Worse Don't know / no response Page 19

20 Business Performance - Capital In the past 12 months, would you say capital investments into your business have increased, decreased or remained the same? Stayed the same 57.0% Don't know / no response 4.0% Increased 35.0% Decreased 4.0% Page 20

21 Business Performance - Capital In the past 12 months, would you say capital investments into your business have increased, decreased or remained the same? 60.0% 57.0% 57.0% 50.0% 40.0% 30.0% 20.0% 35.0% 33.5% 10.0% 0.0% 2.5% 7.0% 4.0% 4.0% Increased Stayed the same Decreased Don't know / no response Page 21

22 Business Challenges - Limitations Is your business limited by: Uncertainty about local economic conditions 55.0% Lack of skilled labour Local government regulation / approvals Transporation / shipping costs Provincial government regulation / approvals Affordability of available land / real estate Access to capital Image of the community Property taxes Zoning regulations for land, buildings, etc. Federal government regulation / approvals 41.5% 41.5% 40.0% 38.0% 37.5% 35.5% 34.0% 34.0% 29.5% 26.5% 0.0% 20.0% 40.0% 60.0% Page 22

23 Business Challenges - Greatest What is the greatest challenge facing your company in the next 12 months? (top 10 responses) Managing growth / expansion / change Skills shortage / finding the right people Government policies / regulations 13.0% 13.0% 12.5% Attracting more business / clients / donors 10.5% The economy Marketing / advertising (visibility) Funding / fundraising Competition Rising operational costs Coping with workload / time involved 8.5% 7.5% 6.5% 5.0% 4.5% 3.5% Page 23

24 Business Challenges - Succession Does your company have a succession plan? No 47.5% Yes 47.0% Don't know / no response Page 24

25 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? 50.0% 43.0% 40.0% 30.0% 32.0% 34.0% 28.0% 36.0% 20.0% 10.0% 0.0% 7.0% 1.0% 4.5% 5.0% 9.5% Poor Fair Good Excellent Don't know / no response Page 25

26 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? 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 21.0% 14.0% 38.5% 36.5% 33.0% 33.5% 2.0% 4.0% 5.5% 12.0% Poor Fair Good Excellent Don't know / no response Page 26

27 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? 50.0% 40.0% 30.0% 39.0% 36.0% 29.5% 30.5% 20.0% 10.0% 0.0% 20.5% 18.0% 2.0% 2.0% 9.0% 13.5% Poor Fair Good Excellent Don't know / no response Page 27

28 Local Government Feedback What one thing could the local government do to improve the business climate here in the Comox Valley? (top responses) Cut bureaucracy / road blocks to development 18.5% Lower taxes (property / business) Infrastructure improvements Support local business (funding / incentives) Attract new business / jobs 10.0% 9.0% 8.0% 8.0% Promote tourism Improve downtown (parking) Promote region (commercial and residential 5.0% 5.0% 4.5% Page 28

29 Chamber of Commerce What type of job do you think the Comox Valley Chamber of Commerce is doing advocating to government on behalf of the local business community? 60.0% 50.0% 48.5% 40.0% 30.0% 20.0% 10.0% 0.0% 18.0% 18.5% 12.5% 2.5% Poor job Fair job Good job Excellent job Don't know / no response Page 29

30 Chamber of Commerce What one thing could the Comox Valley Chamber of Commerce do to more effectively advocate to government on behalf of local businesses? Doing a good job / continue same direction 22.5% Tell people what the Chamber is doing 8.0% Consult members / businesses for their views 7.5% Focus on support of local / small businesses Advocate for regulations that spur business opportunities Be more active / aggressive / visible 5.5% 5.0% 4.5% Encourage collaboration / partnerships 3.0% Page 30

31 Economic Successes What are three of the best economic successes or initiatives that have occurred in the Comox Valley? Airport (inc. WestJet / Air Canada flights) Hospital expansion / new hospital 12.0% 14.0% Downtown renewal / improvements Other festivals and events Vancouver Island Music Festival Mt. Washington Comox Valley Economic Development Agri-food sector Breweries / microbreweries / distillery Inland Island Highway / Connector 8.0% 7.0% 7.0% 6.5% 5.0% 5.0% 3.5% 3.5% Page 31

32 Local Issues Is the local housing market in the Comox Valley having an impact on your business? Don't know / no response 2.0% Yes 52.0% No 46.0% Page 32

33 Local Issues What impacts have the local housing market in the Comox Valley had on your business? (top responses by number of mentions) Creating more business / clients / sales 58 Housing shortage / availability Growth - more people / vibrancy Hurting business - hard to recruit staff Housing affordability 14 Financial / social issues Population leaving - can't afford to stay 6 7 Page 33

34 Local Issues Is homelessness in the Comox Valley having an impact on your business? No 76.0% Yes 22.0% Don't know / no response 2.0% Page 34

35 Local Issues From a business perspective, do you generally support or oppose the idea of establishing a third bridge across the Courtenay River? Support 68.0% Oppose 16.0% Depends on location 5.5% Indifferent / don't care No response 9.0% 1.5% Page 35

36 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? Don't know / no response 1.0% Remain the same 53.0% Increase 44.5% Decrease 1.5% Page 36

37 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? 60.0% 50.0% 44.5% 57.0% 53.0% 40.0% 37.0% 30.0% 20.0% 10.0% 0.0% 5.0% 1.5% 1.0% 1.0% Increase Remain the same Decrease Don't know / no response Page 37

38 Business Outlook - Financial Thinking about 12 months from now, financially do you expect your company to be performing better, about the same, or worse? Better 61.0% About the same 31.5% Don't know / no response 4.5% Worse 3.0% Page 38

39 Business Outlook - Financial Thinking about 12 months from now, financially do you expect your company to be performing better, about the same, or worse? 70.0% 60.0% 50.0% 60.5% 61.0% 40.0% 30.0% 20.0% 33.5% 31.5% 10.0% 0.0% 3.5% 3.0% 2.5% 4.5% Better About the same Worse Don't know / no response Page 39

40 Business Outlook - Capital In the next 3 years, would you expect your capital investment into your business to increase, decrease or remain the same? Decrease 5.0% Stay the same 34.5% Increase 54.5% Don't know / no response 6.0% Page 40

41 Business Outlook - Capital In the next 3 years, would you expect your capital investment into your business to increase, decrease or remain the same? 60.0% 50.0% 54.5% 55.5% 40.0% 30.0% 37.5% 34.5% 20.0% 10.0% 0.0% 5.0% 6.0% 3.0% 4.0% Increase Stay the same Decrease Don't know / no response Page 41

42 Summary Comox Valley business outlook is positive. 56% of businesses doing better today than 12 months ago and nearly four in 10 businesses hired additional employees. Local government doing a better job for business, but still room to reduce bureaucracy and improve approval processes. Despite some uncertainty about local economic conditions: 6 in 10 expect their business to improve financially in 2017 Nearly half of businesses expect to hire more staff Key business challenge for 2017 Managing growth and expansion Attracting the right staff Page 42

43 For More Information For a full copy of this results presentation, go to: Page 43

44 For More Information Peter van Dongen Regional Marketing Manager MNP LLP P: C: Lara Greasley Marketing & Communications Manager Comox Valley Economic Development Society P: Ext 223 C: Dianne Hawkins President and CEO Comox Valley Chamber of Commerce P: Page 44