Brighter Together Survey shows businesses optimistic about future
The results of the latest Brighter Together survey, which wrapped up earlier this month, show that businesses are generally more optimistic than they were at the same time last year. Of the 160 businesses who participated in the survey, 74% felt positive about the overall health of their business up from 63% in 2020. The Brighter Together survey conducted by the Lethbridge Chamber of Commerce and Economic Development Lethbridge (EDL) is completed annually to gather data from the business community in Lethbridge and surrounding area. This is the third consecutive year the survey has been conducted under the Lethbridge Brighter Together community brand.
“Leveraging our community brand is a great way to collaborate with EDL and reach out to businesses in Lethbridge to find out what’s working, what isn’t working and most of all, how organizations like ours can help,” says Cyndi Bester Vos, CEO, Lethbridge Chamber of Commerce. “We’ve used the data collected from past surveys to put work plans in place, offer support and information to businesses in need and also identify trends in the business community that we can raise up to all levels of government.”
Results of the Brighter Together survey showed that:
The biggest strengths to doing business in the Lethbridge area include quality of life, transportation infrastructure, and a collaborative environment.
The 3 biggest challenges to doing business in the Lethbridge area include utilities costs, tax environment and workforce availability.
54% of businesses surveyed reported moderate or substantial growth. (31% in 2020)
61% of businesses expect to be busier than normal over the next 6-12 months.
Rising cost of inputs, recruiting & retaining skilled employees, combined with unpredictable fluctuations in consumer demand are obstacles that are concerning to businesses in the next year.
“The results of this Brighter Together survey show us that businesses are more hopeful than they were at the same time last year. With a lot less uncertainty around public health restrictions and operating protocols, we’re hoping this positive trend of increased optimism continues.” commented Trevor Lewington, CEO, Economic Development Lethbridge. “We know that workforce development and availability of skilled workers have been a concern for businesses over the past couple years and we continue to look for ways to attract skilled labour to our region as we work with our post-secondary institutions and other training service providers to graduate individuals who are work ready once they graduate.”
New to the Brighter Together survey this year was the addition of a Brighter Together Success Story. Business were asked to answer what they enjoy about operating in Lethbridge, how their business embraces the Brighter Together message or provide a positive experience they have had over the past 12 months. Of the many businesses that responded, A-Win Insurance was chosen as the recipient of a Brighter Together marketing package and had their business and story highlighted at this morning’s State of the City event.
“We are honoured to have our story represent the broader business community here in Lethbridge and southern Alberta, so many businesses are doing so many great things to help elevate our community,” says Tania Stilson, C.E.O, A-Win Insurance (Solutions Group). “We love the collaboration this city offers, the access to the young talent of our post-secondary schools, the spirit of entrepreneurship that resonates throughout the community, the diversity of our land and the opportunity for a bright future for all residents.”
Businesses who did complete this section of the survey will also have their Brighter Together Success Stories featured throughout the year by the Lethbridge Chamber of Commerce and Economic Development Lethbridge. Full results of the survey will be posted by January 31 at www.chooselethbridge.ca and www.lethbridgechamber.com.
For more information, contact:
Director, Marketing & Communications
Economic Development Lethbridge