mnp business leaders survey library/mnp/images/pdf/mnp_comox...page 3 • this is the second time...

Presented by:

Date:

MNP Business Leaders SurveyComox Valley 2017

Presented in partnership by:

• 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.

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 2015.

• Survey results were publically released at an economic outlook

breakfast hosted by the Comox Valley Chamber of Commerce on

January 19, 2017.

Background and Purpose

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, 2016.

• In total, 854 businesses were contacted, 321 were reached and 200 completed the survey.

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.

Methodology

Comox Valley Business Profile

No employees / Self-employed4,807 (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)

Profile of Survey Participants

Where is your business located?

Town of Comox20.5%

City of Courtenay62.5%

Village of Cumberland

4.0%

CVRD Area A4.5%

CVRD Area B3.0%

CVRD Area C4.0%

Other1.5%

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

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

Profile of Survey Participants

How many years has your company been in business?

Less than 3 yrs11.5%

3-10 yrs17.5%

11-25 yrs32.5%

26-50 yrs25.5%

More than 50 yrs11.0%

Don’t know2.0%

Respondents by Number of Employees

None / Self-Employed…

1-436.5%

5-924.0%

10-1916.5%

20-4910.0%

50-995.0%

100 or more4.1%

Don't know / no …

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?

No59.5%

Yes38.0%

Don't know / no response

2.5%

International Exports

Does your company currently export products or services

outside of Canada?

No81.0%

Yes17.0%


2.0%

Results

Business Performance - Employment

In the past 12 months, has the number of people you employ increased,

decreased or remained the same?

Increased39.0%

Decreased7.0%

Remained the same53.0%


1.0%

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 / noresponse

2015 2017

Business Performance - Financial

Compared to 12 months ago, how would you describe the financial

performance of your company today?

Better56.5%

Same33.0%

Worse8.5%Don't know /

no response2.0%

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 / noresponse

2015 2017

Business Performance - Capital

In the past 12 months, would you say capital investments into your

business have increased, decreased or remained the same?

Increased35.0%

Decreased4.0%

Stayed the same57.0%


4.0%

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 / noresponse

2015 2017

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

Business Challenges - Greatest

What is the greatest challenge facing your company in the next 12

months? (top 10 responses)

3.5%

4.5%

5.0%

6.5%

7.5%

8.5%

10.5%

12.5%

13.0%

13.0%

Coping with workload / time involved

Rising operational costs

Competition

Funding / fundraising

Marketing / advertising (visibility)

The economy

Attracting more business / clients / donors

Government policies / regulations

Skills shortage / finding the right people

Managing growth / expansion / change

Business Challenges - Succession

Does your company have a succession plan?

No47.5%

Yes47.0%

Don't know / no response…

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 / noresponse

2015 2017


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?

21.0%

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%


2015 2017


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%


2015 2017

Local Government Feedback

What one thing could the local government do to improve the business

climate here in the Comox Valley? (top responses)

4.5%

5.0%

5.0%

8.0%

8.0%

9.0%

10.0%

18.5%

Promote region (commercial and residential

Improve downtown (parking)

Promote tourism

Attract new business / jobs

Support local business (funding / incentives)

Infrastructure improvements

Lower taxes (property / business)

Cut bureaucracy / road blocks to development

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 / noresponse

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?

3.0%

4.5%

5.0%

5.5%

7.5%

8.0%

22.5%

Encourage collaboration / partnerships

Be more active / aggressive / visible

Advocate for regulations that spur businessopportunities

Focus on support of local / small businesses

Consult members / businesses for their views

Tell people what the Chamber is doing

Doing a good job / continue same direction

Economic Successes

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

occurred in the Comox Valley?

3.5%

3.5%

5.0%

5.0%

6.5%

7.0%

7.0%

8.0%

12.0%

14.0%

Inland Island Highway / Connector

Breweries / microbreweries / distillery

Agri-food sector

Comox Valley Economic Development

Mt. Washington

Vancouver Island Music Festival

Other festivals and events

Downtown renewal / improvements

Hospital expansion / new hospital

Airport (inc. WestJet / Air Canada flights)

Local Issues

Is the local housing market in the Comox Valley having an impact on your

business?

No46.0%

Yes52.0%


2.0%

Local Issues

What impacts have the local housing market in the Comox Valley had on

your business? (top responses by number of 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

Local Issues

Is homelessness in the Comox Valley having an impact on your

business?

No76.0%

Yes22.0%


2.0%

Local Issues

From a business perspective, do you generally support or oppose the

idea of establishing a third bridge across the Courtenay River?

Support68.0%

Oppose16.0%

Depends on location

5.5%

Indifferent / don't care9.0%No response

1.5%

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?

Increase44.5%

Decrease1.5%

Remain the same53.0%


1.0%

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?

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 / noresponse

2015 2017

Business Outlook - Financial

Thinking about 12 months from now, financially do you expect your

company to be performing better, about the same, or worse?

Better61.0% About the same

31.5%

Worse3.0%


4.5%

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 / noresponse

2015 2017

Business Outlook - Capital

In the next 3 years, would you expect your capital investment into your

business to increase, decrease or remain the same?

Increase54.5%

Decrease5.0%

Stay the same34.5%


6.0%

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 / noresponse

2015 2017

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

For a full copy of this results presentation, go to:

www.MNP.ca/comoxsurvey

www.comoxvalleychamber.com

For More Information

Peter van Dongen

Regional Marketing Manager

MNP LLP

P: 250.734.4321

C: 250.713.0438

[email protected]

Dianne Hawkins

President and CEO

Comox Valley Chamber of Commerce

P: 250.334.3234

[email protected]

Lara Greasley

Marketing & Communications Manager

Comox Valley Economic Development

Society

P: 250.334.2427 Ext 223

C: 250.702.1298

[email protected]

For More Information

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