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- 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,
MNP Business Leaders Survey Comox Valley 2017 Presented in - - PowerPoint PPT Presentation
MNP Business Leaders Survey Comox Valley 2017 Presented in - - PowerPoint PPT Presentation
MNP Business Leaders Survey Comox Valley 2017 Presented in partnership by: Presented by: Date: Background and Purpose Conducted in partnership with the Comox Valley Chamber of Commerce and Comox Valley Economic Development Society.
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- This is the second time the survey has been done in the Comox Valley.
First survey was released two years ago in January 2015.
- Survey results were publically released at an economic outlook
breakfast hosted by the Comox Valley Chamber and sponsored by CVEDS on January 19, 2017.
Background and Purpose
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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 Comox Valley Chamber of Commerce and Comox Valley Economic Development.
- Telephone interviews were conducted between Nov 14-25, 2016.
- In total, 854 businesses were contacted, 321 were reached and 200
completed the survey.
Methodology
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- 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.
Methodology
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Comox Valley Business Profile
No employees / Self-employed 4,807 (66.7%) Businesses with employees 2,399 (33.3%)
Source: Statistics Canada, Business Register Location Counts, June 2016 (includes Comox, Cumberland, Courtenay and CVRD Areas A, B and C)
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Profile of Survey Participants
Where is your business located?
Town of Comox 20.5% 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% Other 1.5%
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Respondents by Industry
0.5% 0.5% 0.5% 1.0% 1.5% 3.5% 3.5% 3.5% 3.5% 4.0% 4.0% 4.0% 5.0% 5.5% 7.0% 8.0% 8.5% 10.5% 11.0% 24.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% Utilities Management of companies and enterprises Administrative and support, waste management… Wholesale trade Unclassified Agriculture, forestry, fishing and hunting Manufacturing Transportation and warehousing Arts, entertainment and recreation Construction Information and cultural industries Real estate and rental and leasing Educational services Tourism / Travel Accommodation and food services Finance and insurance Health care and social assistance Professional, scientific and technical services Other services (except public administration) Retail trade
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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
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Profile of Survey Participants
How many years has your company been in business?
Less than 3 yrs 11.5% 3-10 yrs 17.5% 11-25 yrs 32.5% 26-50 yrs 25.5% More than 50 yrs 11.0% Don’t know 2.0%
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Respondents by Number of Employees
None / Self- Employed… 1-4 36.5% 5-9 24.0% 10-19 16.5% 20-49 10.0% 50-99 5.0% 100 or more 4.1% Don't know / no…
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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%
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International Exports
Does your company currently export products or services
- utside of Canada?
No 81.0% Yes 17.0% Don't know / no response 2.0%
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Results
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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?
Increased 39.0% Decreased 7.0% Remained the same 53.0% Don't know / no response 1.0%
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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?
27.0% 60.5% 11.5% 39.0% 53.0% 7.0% 1.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% Increased Remained the same Decreased Don't know / no response 2015 2017
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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% Worse 8.5% Don't know / no response 2.0%
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Business Performance - Financial
Compared to 12 months ago, how would you describe the financial performance of your company today?
52.5% 36.5% 8.5% 2.5% 56.5% 33.0% 8.5% 2.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% Better Same Worse Don't know / no response 2015 2017
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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?
Increased 35.0% Decreased 4.0% Stayed the same 57.0% Don't know / no response 4.0%
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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?
57.0% 33.5% 2.5% 7.0% 35.0% 57.0% 4.0% 4.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% Increased Stayed the same Decreased Don't know / no response 2015 2017
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Business Challenges - Limitations
Is your business limited by:
26.5% 29.5% 34.0% 34.0% 35.5% 37.5% 38.0% 40.0% 41.5% 41.5% 55.0%
0.0% 20.0% 40.0% 60.0%
Federal government regulation / approvals Zoning regulations for land, buildings, etc. Property taxes Image of the community Access to capital Affordability of available land / real estate Provincial government regulation / approvals Transporation / shipping costs Local government regulation / approvals Lack of skilled labour Uncertainty about local economic conditions
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Business Challenges - Greatest
What is the greatest challenge facing your company in the next 12 months? (top responses by number of mentions)
5 5 6 6 8 9 11 18 32 Competition Financing (access / interest rates) Taxes Ability to service existing customers / too busy Funding (non-profits) Managing costs (fuel, lease rates, labour, etc.) Staffing issues / finding the right people Government regulation and bureaucracy (all levels) Attracting customers / new business / marketing
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Business Challenges - Succession
Does your company have a succession plan?
No 47.5% Yes 47.0% Don't know / no response…
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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?
32.0% 34.0% 28.0% 1.0% 5.0% 7.0% 43.0% 36.0% 4.5% 9.5% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% Poor Fair Good Excellent Don't know / no response 2015 2017
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Attitude on Government Performance
Would you say the Provincial Government has been doing a poor job,
- nly a fair job, a good job or an excellent job in terms of creating a good
climate for business?
21.0% 38.5% 33.0% 2.0% 5.5% 14.0% 36.5% 33.5% 4.0% 12.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% Poor Fair Good Excellent Don't know / no response 2015 2017
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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?
20.5% 39.0% 29.5% 2.0% 9.0% 18.0% 36.0% 30.5% 2.0% 13.5% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% Poor Fair Good Excellent Don't know / no response 2015 2017
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Local Government Feedback
What one thing could the local government do to improve the business climate here in the Comox Valley? (top responses by number of mentions)
5 6 7 9 9 12 13 25 Be more open minded / progressive Promote tourism Co-operate / amalgamate / work together as one Attract new businesses / jobs Improve downtown / parking Improve transportation (roads, bridges, transit) Support local businesses (grants, promotion) Cut bureaucracy / road blocks to development
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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?
2.5% 18.0% 48.5% 12.5% 18.5% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% Poor job Fair job Good job Excellent job Don't know / no response
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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?
(top mentions)
4 6 6 7 10 13 Advocate for lower taxes Collaborate / advocate with all levels of gov't Doing a good job / keep doing what you are doing Focus on support for local / small businesses Tell people what the Chamber is doing for advocacy Consult members / businesses more for their views
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Economic Successes
What are three of the best economic successes or initiatives that have
- ccurred in the Comox Valley? (top mentions)
6 6 7 7 10 12 Micro-breweries / distillery Cumberland community growth Lifestyle improvements (parks, trails, bike lanes) Inland Highway / Connector Downtown revitalization Festivals (Shellfish, Ribfest, Winterfest, etc.)
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Local Issues
Is the local housing market in the Comox Valley having an impact on your business?
No 46.0% Yes 52.0% Don't know / no response 2.0%
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Local Issues
What impacts have the local housing market in the Comox Valley had on your business? (top mentions)
6 7 14 20 22 23 58 Population leaving - can't afford to stay Financial / social issues Housing affordability Hurting business - hard to recruit staff Growth - more people / vibrancy Housing shortage / availability Creating more business / clients / sales
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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%
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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 9.0% No response 1.5%
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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?
Increase 44.5% Decrease 1.5% Remain the same 53.0% Don't know / no response 1.0%
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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?
37.0% 57.0% 5.0% 1.0% 44.5% 53.0% 1.5% 1.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% Increase Remain the same Decrease Don't know / no response 2015 2017
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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% Worse 3.0% Don't know / no response 4.5%
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Business Outlook - Financial
Thinking about 12 months from now, financially do you expect your company to be performing better, about the same, or worse?
60.5% 33.5% 3.5% 2.5% 61.0% 31.5% 3.0% 4.5% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% Better About the same Worse Don't know / no response 2015 2017
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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?
Increase 54.5% Decrease 5.0% Stay the same 34.5% Don't know / no response 6.0%
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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?
37.5% 55.5% 3.0% 4.0% 54.5% 34.5% 5.0% 6.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% Increase Stay the same Decrease Don't know / no response 2015 2017
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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
– Attracting customers and new business
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For a full copy of this results presentation, go to: www.MNP.ca/comoxsurvey www.comoxvalleychamber.com www.investcomoxvalley.com
For More Information
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Peter van Dongen Regional Marketing Manager MNP LLP P: 250.734.4321 C: 250.713.0438 peter.vandongen@mnp.ca Dianne Hawkins President and CEO Comox Valley Chamber of Commerce P: 250.334.3234 dhawkins@comoxvalleychamber.com Lara Greasley Marketing & Communications Manager Comox Valley Economic Development Society P: 250.334.2427 Ext 223 C: 250.702.1298 lgreasley@investcomoxvalley.com