Economic Vitality Committee Agenda and Packet 2022 06 17

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SUBJECT: BUSINESS SATISFACTION SURVEY RESULTS DATE: JUNE 17, 2022 PAGE 4 OF 5 Demographics Survey Question Responses Most survey respondents, 70.69% or 41, indicated that they currently lease their commercial space. Those completing this survey were also predominately not franchise owners or businesses that operate multiple locations, as 63.33% of respondents (38) said they do not have additional locations. The specific responses for those that indicated that do have multiple locations are provided in the qualitative section for question #20. Because the survey link was broadly distributed to encourage participation and response, the survey asks respondents to identify their role in the business. 76.67% of respondents (46) said they are the business owner. Louisville has many small businesses, which is reflected in how survey respondents identified their employee populations; 45% of respondents (27) said they have "6 to 25 employees." 30% of respondents (18) said they have "1 to 5 employees." The City received the most response from businesses located in "Downtown or DeLo"— comprising 40.68% (24) of the surveys submitted. There were also 12 responses each from "Colorado Technology Center" and "South Boulder Road/Hwy 42 Corridor." Importantly, there were at least a couple responses from each of the City's five main business districts. There was also good diversity in the length of time businesses responding to the survey had been located in Louisville. 27.59% of respondents (16) have been in Louisville "6 to 10 years." 20.69% or 12 respondents have been in business in Louisville for "More than 20 years." Over 40% of respondents identified as a "Women -owned business." Respondents also indicated whether they were part of categories such as "Minority -owned business," "Affiliated with a franchise," or "Corporate headquarters." Most business responding to the survey (65.52%, 38) said the ownership of their business is "White." The next highest response to this question was "Prefer not to answer" (25.86%, 15). Lastly, businesses were asked to select the industry category which most closely aligns with their operations. "Restaurant, food service, or bar" made up 20% of the survey respondents; the next highest category of respondents was "Retail" at 18.18%. The list of industries is consistent with what has been used in other recent surveys, but there were a number of categories in which there were no respondents to this survey. Next Steps Following this discussion with the EVC, staff plans to post the 2022 Business Satisfaction Survey report to the website, where previous survey data has also been made available (https://www.louisvilleco.gov/doing-business/economic- development/business-resources/business-satisfaction-survey). In addition, staff plans to distribute a copy of the results to our business list through our a -blast platform. Based on the current Strategic Plan Supporting Action, the City should prepare another Business Satisfaction Survey to begin in approximately Q2 2024. Smaller issue -based surveys may be a helpful tool during the interim years. Agenda Packet P. 10