Lloydminster businesses in the 2022 business survey, have given the community +11 per cent net promoter score, meaning they have a greater positive community sentiment than negative.
Katlin Ducherer, economic development officer with the city says it means that “Lloydminster is 11 per cent more positive than other communities.”
City planners released the survey results this week highlighting the responses of 283 businesses submitted from Nov. 16 to Dec. 1, 2022.
- Future plans – 60 per cent of businesses plan to expand in the next two years, with only 3% of businesses planning on closing.
- Current revenue and future expectations – 41 per cent reported their total revenue has increased over the past 12 months. 46 per cent expect their revenue to increase in the next 12 months, 43 per cent anticipate no change in revenue, and 10 per cent expect revenue to decrease.
- Home-based businesses – 31 per cent of respondents surveyed were home-based businesses, 17 per cent of which have plans to expand their operation outside of their home in the next three years.
- Satisfaction with the city of Lloydminster – 86 per cent of businesses were either somewhat satisfied or very satisfied with the city as a place to own and operate a business. Respondents were most satisfied with support from other businesses: 88 per cent, business licence processes: 88 per cent, availability of adequate housing: 87 per cent, and cellular phone service: 86 per cent.
City officials indicate the data will be used to guide economic development efforts and support local businesses in achieving their goals.
Ducherer, explains the annual data collection forms the basis to justify their business plans moving forward.
“We also make sure through the process that Lloydminster as a whole community is making sense to do business in. So we look between the lines to ensure that all the services that are offered within Lloydminster – it makes economic sense to develop and start your business here or to continue business here.”
Ducherer adds the survey allows them to “ensure they are listening to businesses” and fostering programs and investments that align with those interests.
“Some of those are Start Up Lloydminster, employee attraction and retention – staffing, job fairs that we partner on. Other things like the GAP analysis – ensuring that we are where we need to be in terms of retail.”
The survey which was conducted by Deloitte Canada also revealed that local roads and streets, municipal property taxes, support from the city, availability of skilled labour, and availability of health and medical services were the top five priority factors among business responders who were surveyed.