mnp business leaders survey€¦ · page 4 • the survey was conducted by a third-party market...

Presented by:

Date:

MNP Business Leaders SurveyCowichan Region 2016

Presented by:

• 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

Methodology

• 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

• 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

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%

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%

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)

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

Results

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%

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%


1.5%

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%


6.4%

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

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

Business Challenges - Succession

Does your company have a succession plan?

No56.9%

Yes36.6%

Don't Know / No Response

6.4%

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


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


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

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

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)

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%

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

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

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%


3.0%

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%


1.5%

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%


4.5%

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

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

For More Information

Peter van Dongen

Regional Marketing Manager

MNP

250.734.4321

[email protected]

mnp business leaders survey€¦ · page 4 • the survey was conducted by a third-party market...

Documents