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The City of Penticton and industry groups partnered in 2017 to launch a Business Climate Survey, an impressive economic development initiative in the City of Penticton. The goal of this project was to capture the feedback from a cross-section of 100 businesses representing the various economic sectors and business sizes that reflect the makeup of the city.
Less than a year later, 100 in-person surveys and 90 online surveys have been completed by local businesses. This was possible through gracious help from the project partners: the Penticton & Wine Country Chamber of Commerce, the Downtown Penticton Association (DPA), Travel Penticton, and the Penticton Industrial District Association (PIDA). Guidance and support was also provided via the Economic Development & Prosperity Taskforce. From this data, key trends have been identified, which are outlined in this report. These findings will not only give the ‘pulse’ of the local economy, but also help to assist the Economic Development Department with future operational plans and initiatives.
About the Business Climate Survey
The Business Climate Survey is more commonly known as a Business Retention and Expansion Survey (BR&E Survey) in economic development and is a fundamental tool used by economic development professionals to reach out and connect with the local business community. The overarching goal of this process is to improve relationships with local businesses and identify key initiatives for the economic development office to focus on to best address business needs. This is crucial to the sustained viability of a city’s economy, as businesses that stay competitive are more likely to remain and expand in their community.
The City of Penticton and industry groups partnered in 2017 to launch a Business Climate Survey, an impressive economic development initiative in the City of Penticton. The goal of this project was to capture the feedback from a cross-section of 100 businesses representing the various economic sectors and business sizes that reflect the makeup of the city.
Less than a year later, 100 in-person surveys and 90 online surveys have been completed by local businesses. This was possible through gracious help from the project partners: the Penticton & Wine Country Chamber of Commerce, the Downtown Penticton Association (DPA), Travel Penticton, and the Penticton Industrial District Association (PIDA). Guidance and support was also provided via the Economic Development & Prosperity Taskforce. From this data, key trends have been identified, which are outlined in this report. These findings will not only give the ‘pulse’ of the local economy, but also help to assist the Economic Development Department with future operational plans and initiatives.
About the Business Climate Survey
The Business Climate Survey is more commonly known as a Business Retention and Expansion Survey (BR&E Survey) in economic development and is a fundamental tool used by economic development professionals to reach out and connect with the local business community. The overarching goal of this process is to improve relationships with local businesses and identify key initiatives for the economic development office to focus on to best address business needs. This is crucial to the sustained viability of a city’s economy, as businesses that stay competitive are more likely to remain and expand in their community.
