Business Retention and Development Committee Agenda and Packet 2020 11 02

Home Browse Search

LL Cityof BUSINESS RETENTION AND Louisville DEVELOPMENT COMMITTEE COLORADO • SINCE 1878 SUBJECT: SPRING BUSINESS SURVEY SUMMARY RESULTS DATE: AUGUST 23, 2018 PRESENTED BY: AARON DEJONG, ECONOMIC DEVELOPMENT SUMMARY: The BRaD Committee sent out the second Louisville Business Survey in June 2018 and survey responses were received throughout that month. Attached are the summary results of the survey responses. This memorandum highlights the main themes garnered from the responses. DISCUSSION: The spring Louisville business survey was sent to 715 email contacts on May 29, 2018. Two reminder emails were sent to contacts that had yet to respond the survey. The survey closed on June 18, 2018. A total of 104 responses were received, resulting in a 14.5% response rate. The intent of the survey was to receive a pulse of the business community in several areas; business outlook, opinion of the Business Forum, business satisfaction, input on community challenges, and communication. The survey was not designed to achieve statistically significant results, rather quantitative and qualitative feedback. Responses were received by all areas of the community with the downtown area (44% of responses) and the CTC (24% of the responses) providing the most responses. The respondents were mostly from small businesses (80% with less than 25 employees). Businesses generally have a positive outlook for their business with those stating their business would grow or remain stable over the next 18 months was 94% of responses. Twenty-five percent (25%) of respondents attended the Louisville Business Forum on May 17, 2018. Of the attending respondents, 80% were either satisfied or neutral on the event. The respondents stating they wouldn't recommend locating a business in Louisville outweighed those respondents who would recommend (45.5% vs. 21.2% respectively). However, respondents noted that it is generally easy to do business in town. The question related to the cost of doing business was rather mixed in its results, without a clear direction that it is, or is not, costly to do business. The question asking if "Louisville is leading the way in showing how front -range communities should adapt to the rapid growth and change in our region" resulted in business saying Louisville was not leading by a greater amount than Louisville was leading the way (41.8% vs. 10.2%). Agenda Packet P. 21