At yesterday’s regular Council meeting, Mayor and Council were presented with the findings from the 2023 Business Survey by economic development consulting firm, Deloitte LLP, contracted to conduct the survey on behalf of the Town. The survey was completed by approximately 30% of Okotoks businesses; a significant and statistically viable sample size.
Going forward, this survey will be conducted on an annual basis. Surveys like this are done as a way to help Council better understand the needs of the local business community and to provide outlook and context for potential economic development related initiatives that support the priorities of local businesses.
Some insights from survey respondents include:
- 84% are satisfied with the Town as a place to do business
- Top priorities (and satisfaction level) for doing business in Okotoks were identified as:
- access to affordable housing – 38% satisfaction
- local regulations/processes – 61% satisfaction
- costs of office/commercial/industrial space – 49% satisfaction
- 40% indicated that their revenues have stayed the same over the past year
- 19% indicated that lower business fees would improve the business environment
- 46% have leases expiring in 1-3 years
- 65% sell their goods/services online
To review the 2023 Business Survey results What We Heard Report and presentation, please visit www.okotoks.ca/business-survey.