Survey Results are in on Business Conditions in Edmonton
05 September 2019
At the Edmonton Chamber of Commerce, we’re in the business of helping business. But delivering exceptional support is only possible if we understand the issues in our Region – that’s why we’re pleased to share the results from our survey of the Edmonton business community. While we invite you to look at the detailed results, we’ve included some of the research highlights below.
The cost of doing business in Edmonton
There were clear indications that Edmonton needs to do more to increase its competitiveness. After years of property tax increases, it shouldn’t come as a surprise that only 24% of respondents agreed that Edmonton businesses get good value for their property taxes. Similarly, more than half said they disapprove of the way the City manages its budget. What’s more, nearly half said that operating outside the City limits comes with a competitive advantage because of less red tape and fewer regulations.
These findings are in line with the general feeling that more should be done to support local businesses, as 53% of respondents felt the City of Edmonton is not doing enough to help businesses remain competitive and grow.
A look at current and future business conditions
As expected, the economy was selected as the single most important issue facing businesses in the Edmonton Metropolitan Region, mentioned by 34% of respondents, with taxes coming in second at 24%.
Yet when asked to assess business conditions in the Region, respondents seemed to be of mixed minds. More than a third said that conditions are worse now than they were a year ago. When asked to look ahead to next year, one in four respondents said they expect conditions to be better than they are now, proving yet again that members of our entrepreneurial business community are optimists by nature.
This optimism about future business conditions has not translated into the same level of optimism when it comes to future staffing levels or capital investments. Only three in ten expect to hire more staff in the coming year, and only one in five think it is a good time to make large capital investments.
Taken together, these findings tell us that many in the Edmonton business community continue to face challenges, and there’s more the City should be doing to create a competitive and healthy environment. At the Edmonton Chamber, we’ll continue to us our powerful voice to positively influence government decisions to help more businesses in the Edmonton Region succeed.