MNP Business Leaders Survey Terrace 2016 Presented in partnership - - PowerPoint PPT Presentation

Presented by: Date:

MNP Business Leaders Survey

Terrace 2016 Presented in partnership by:

Page 2

• 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 Terrace & District Chamber of

Commerce.

• Goal is to generate baseline information so we can work together to

improve the local business climate and help local businesses succeed.

Introduction

Page 3

Methodology

Page 4

• The survey was conducted by a third-party market research firm,

PRA Inc. under the guidance of MNP and the Terrace & District Chamber

• f Commerce.
• In total, 1,333 businesses were contacted, 457 were reached and 200

completed the survey.

• Respondents included: business owners, CEOs, presidents, executive

directors and designated senior corporate officers from businesses across all industry sectors in Terrace and the surrounding area.

• Telephone interviews were conducted between Sept 15-29, 2016.

Methodology

Page 5

• Of the 200 respondents, 107 were Chamber members and 93 were from
• ther businesses in Terrace the surrounding area.
• 44% of the businesses we spoke to participated in the survey, which is a

very high response rate.

• The full results presentation will be posted on the Terrace & District

Chamber of Commerce and MNP Terrace websites.

Methodology

Page 6

Profile of Survey Participants

Where is your business located?

City of Terrace 80.0% Thornhill 15.5% Other 4.5%

Page 7

Respondents by Industry

4.0% 5.0% 1.0% 6.5% 2.0% 2.0% 21.5% 6.5% 1.5% 8.0% 2.5% 10.0% 2.5% 2.5% 4.0% 2.5% 5.5% 10.5% 1.0% 7.5% Agriculture, forestry, fishing, and hunting Mining, quarrying, and oil and gas extraction Utilities Construction Manufacturing Wholesale trade Retail trade Transportation and warehousing Information and cultural industries Finance and insurance Real estate and rental and leasing Professional, scientific, and technical services Administrative and support, waste… Educational services Health care and social assistance Arts, entertainment, and recreation Accommodation and food services Other services (except public administration) Public administration Unclassified

Page 8

Profile of Survey Participants

How many years has your company been in business?

50 yrs or more 19.0% 26 to 49 yrs 28.0% 11 to 25 yrs 27.0% 4 to 10 yrs 15.5% 3 yrs or less 4.5% Don't know / no response 6.0%

Page 9

Respondents by Number of Employees

3.5% 39.0% 31.5% 11.0% 6.5% 8.0% 0.5% Self-Employed 1 to 5 6 to 14 15 to 25 26 to 50 Over 50 Don't know / no response

Page 10

Results

Page 11

Business Performance - Financial

Compared to 12 months ago, how would you describe the financial performance of your company today?

Better 29.0% Same 33.5% Worse 31.5% Don't know / no response 6.0%

Page 12

Business Performance - Employment

In the past 12 months, has the number of people you employ increased, decreased or remained the same?

Increased 22.0% Decreased 22.5% Remained the same 53.0% Don't know / no response 2.5%

Page 13

Business Performance - Capital

In the past 12 months, would you say capital investments into your business have increased, decreased or remained the same?

Increased 19.5% Decreased 9.5% Stayed the same 60.0% Don't know / no response 11.0%

Page 14

Business Challenges - Limitations

Is your business limited by:

28.5% 29.0% 31.5% 33.5% 33.5% 36.5% 40.5% 73.0% 20.0% 40.0% 60.0% 80.0% Image of the community Property Taxes Local government regulation / approvals Federal government regulation / approvals Provincial government regulation /approvals Transportation / shipping costs Lack of skilled labour Uncertainty about local economic conditions

Page 15

Business Challenges - Greatest

What is the greatest challenge facing your company in the next 12 months? (Top Responses)

21.0% 16.5% 10.5% 10.0% 6.5% 6.0% .0% 5.0% 10.0% 15.0% 20.0% 25.0% Lack of industry / job creation / progress of major projects Hiring and/or retaining good staff / skills shortage Uncertain economic climate / stability Maintaining client base / revenue / sales / profits Growing the company (market share / sales / profits) Access to capital / financing / funding

Page 16

Business Challenges - Succession

Does your company have a succession plan?

No 44.5% Yes 49.0% Don't know / no response 6.5%

Page 17

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?

23.5% 46.0% 17.5% 1.0% 8.0% 4.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% Poor Fair Good Excellent Don't know / no response Too early to tell

Page 18

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?

14.0% 48.0% 27.5% 6.0% 4.5% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% Poor Fair Good Excellent Don't know / no response

Page 19

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?

14.0% 33.0% 42.0% 6.0% 5.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% Poor Fair Good Excellent Don't know / no response

Page 20

Local Government Feedback

What is the one thing you would tell the local government they should do to improve the business climate in Terrace? (Top 5)

5.5% 6.0% 10.5% 15.0% 20.5% .0% 5.0% 10.0% 15.0% 20.0% 25.0% Improve / clean up downtown (streets, safety, homelessness) Lower property taxes / tax breaks Reduce red tape / streamline permitting, zoning and approval processes Encourage new investments / industries / business development Nothing / continue as they are

Page 21

Local Government Feedback

From a business perspective, which of the following governance options do you generally support the most?

12% 62% 19% 7%

Thornhill becomes its own municipality Thornhill and the City of Terrace join together Stay the same as now Don't know / no response

Page 22

Economic Successes

What are three of the best economic successes or initiatives that have

• ccurred in Terrace and the surrounding area (Top Responses)

7.0% 8.5% 10.5% 12.5% 15.0% 16.0% 21.0% .0% 5.0% 10.0% 15.0% 20.0% 25.0% New Hotels / Restaurants Port of Prince Rupert / Fairview Container Terminal Expansion Northwest Regional Airport Expansion / Land Development Northwest Transmission Line Nothing LNG Developments / Plans Rio Tinto Kitimat Modernization Project

Page 23

Economic Development Priorities

From a business perspective, what would you advise should be the top priorities for economic development in Terrace?

15.0% 14.5% 13.0% 12.0% 11.0% 6.0% .0% 4.0% 8.0% 12.0% 16.0% Supporting industrial development Retaining existing businesses Improving local infrastructure and/or business services Attracting businesses to relocate to Terrace / create employment Promoting / encouraging the LNG sector and pipeline projects Encouraging new startups and entrepreneurs / small and medium size

Page 24

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 41.5% Same 45.5% Worse 5.5% Don't know / no response 7.5%

Page 25

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 25.0% Decrease 11.0% Remain the same 62.0% Don't know / no response 2.0%

Page 26

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 40.5% Decrease 6.5% Stay the same 40.0% Don't know / it depends / no response 13.0%

Page 27

Summary

Terrace business community is cautiously optimistic

• 73% of businesses expressed uncertainty about local

economic conditions but… most businesses are still cautiously optimistic.

• Key business challenges for 2017

– Lack of industrial development / approval of major projects. – Staff recruitment/retention and skills shortage.

• Feedback to local government:

– Generally positive but always room for improvement. – Streamline permitting, zoning and approval processes.

• Strong emphasis on the need to support industrial

development and diversification.

Page 28

For More Information

Peter van Dongen Regional Marketing Manager Vancouver Island & Northern BC MNP LLP P: 250.734.4321 peter.vandongen@mnp.ca Erika Magnuson-Ford Executive Director Terrace & District Chamber of Commerce P: 250.635.2063 E: executivedirector@terracechamber.com