Business Climate Survey completed
(Penticton BC, March 14, 2018) – A report containing feedback from a cross-section of 100 Penticton businesses representing various economic sectors and business sizes was released March 13 during the Business Climate Survey Results Launch. Completed over the first quarter of 2018, the Business Climate Survey’s findings capture several trends that the City’s Economic Development Department will now examine when preparing future operational plans and initiatives. Notable areas of interest include:
- Penticton’s economy is very strong and anticipated to continue to grow in the near term, but challenges in accessing skilled labour, low vacancy rates for rentals and seasonality are regularly-mentioned barriers to growth
- The City of Penticton should take a more active role in supporting entrepreneurship and new businesses
- There are mixed perceptions surrounding the economic drivers in Penticton and in general there was a desire for more data and market intellingence to be available to the business community
- While the greatest area of frustration for businesses lay in the permitting and licensing processes, it was generally acknowledged that the City and Development Services are making efforts to improve systems and foster relationships
Director of Development Services, Anthony Haddad says, “This relationship-building exercise has provided the City with great insights that have highlighted challenges and opportunities for our business community. The 2018-2022 Strategic Plan was informed by much of his feedback and as such, Development Services and the Economic Development Department are already well-positioned to begin working towards addressing the barriers and leveraging the opportunities.”
The data collected through the survey will also be used to help build community capacity to sustain growth and development, and identify key strengths associated with doing business in Penticton. The findings will also be presented to municipal, provincial, and federal partners.
“It is critical to ensure we are aligned with the business community’s needs and to understand their opportunities and frustrations,” says Mayor Andrew Jakubeit. “Current and local data, such as that collected in the Business Climate Survey and the public feedback provided in the Official Community plan ensures future-planning is in line with community needs.”
The process by which the survey was conducted included partnering with the Chamber of Commerce, the Downtown Penticton Association, Travel Penticton, and the Penticton Industrial District Association (PIDA). The full report of the Business Climate Survey can be viewed online at Penticton shapeyourcitypenticton.ca as of March 14, 2018.
Director of Development Services
City of Penticton