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Business Summary - Economic Development
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2003 Business Report Statistical Summary
| Survey Format |
- The survey was conducted in July and August of 2003
- Format: Interview with Questionnaire
- Not all questions were answered
- Some questions did not apply
- Business owners/operators did not feel comfortable answering some questions
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| Participants |
- 49 Businesses throughout the Township participated in the survey
- 4% from Wellington 124 area
- 8% from Hwy 6 area
- 29% from the rural area
- 59% from Rockwood
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| Business Ownership |
- 81.6% of businesses were started in the community
- 71% of business owners live in the community
- 85.7% of business owners are involved in day-to-day operations
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| Business Employment |
- The majority of business employs less than 5 part time or full time employees
- 24.5% of respondents planned on hiring more employees in the next two years
- 32.7% indicated that employee numbers would remain the same or did not know if they would change
- No respondents indicated that they planned to decrease their number of employees
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| Business Location |
- For a majority of businesses (81.6%), this location in the Township is the only location for business
- When asked if they were satisfied with the current location of their business
- 61.2% said they were Completely Satisfied
- 36.7% said they were Somewhat Satisfied
- 2% no response
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| Length of Business Operation |
- 81.6% (40 of 49 respondents) started their businesses in this community
- 42.9% of businesses surveyed have been in operation for more than 10 years
- 16.3% of businesses have been in operation for 5-10 years
- 30.6% of businesses have been in operation for 1-4 years
- 8.2% of businesses have been in operation for less than 1 year
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| Business Relocation/Expansion |
- Relocation
- 35 of 39 respondents or 89.7% indicated that they did not plan to relocate their businesses in the next 2 years
- 2 business owners planned on relocating their businesses
- 2 business owners were considering the possibility of relocating
- Expansion
- 20% (9 of 45) are planning to expand in the next 2 years
- 73% (33 of 45) are not planning to expand
- 7% (3 of 45) are possibly planning to expand
- Renovation
- 35 of 42 respondents or 83.3% indicated that they were not planning major renovations in the next two years
- Only 2 businesses indicated plans of renovation
- 5 businesses indicated that renovation was a possibility
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| Sales |
- In the Past 2 years …
- 68.6% (24 of 35) of businesses stated sales have increased
- 17.1% (6 of 35) of businesses stated sales have decreased
- 1 business reported an uneven sales pattern
- 4 businesses indicated no change in their sales
- Expectations
- 71% (22 of 31) of businesses stated that they expected next years dollar sales to be higher when compared to the previous year
- Only 1 Business felt that sales would be lower in the next year
- 6 businesses figured sales would remain the same
- 2 businesses were not sure
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| Barriers to New Business |
- Most Frequent Responses:
- Taxes are too high
- There is a lack of proactive business procurement
- There is a lack of appropriately zoned land
- Slow approval process
- Inadequate transportation
- Lack of rental space
- Lack of water/sewer capacity
- Development charges
- Inadequate labour supply
- Resistance from local business
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| Role of Local Municipality |
- Does the local municipality take an adequate role in business and economic development in the community?
- 31% - No
- 0% - Yes
- 22% - Do not know what is being done
- 47% - Did not respond
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| The Business Community |
- How can the business community help with Economic Development
- Establish a BIA (10 responses)
- Promote unity (5 responses)
- Hold a fair (2 responses)
- Advertise (2 responses)
- Provide Grants (2 responses)
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| Community Strengths |
- Strengths as a place to do business:
- Quaint (15 responses)
- Friendly (12 responses)
- Location (11 responses)
- Supportive local residents
- Conservation Area
- Busy Highway
- Proximity to Toronto
- Rural Environment
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| Conclusions/Trends |
- A majority of the businesses are small, employing 5 employees or less
- A majority of business owners live in the community and are actively involved in their businesses
- A majority of the businesses expected their sales to increase in the upcoming year
- High taxes, a lack of proactive business procurement, and a lack of appropriately zoned land were seen as the main barriers to new business
- Businesses felt they could promote economic development by establishing a BIA and promoting unity
- Businesses felt community strengths included:
- Quaintness
- Friendliness
- And Location
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