Thursday, January 23, 2020 – Comox Valley, B.C. A skills shortage and various staffing issues are the most pressing top-of-mind concerns for Comox Valley businesses in 2020, according to the latest MNP Comox Valley Business Leaders Survey released today.
One in four businesses surveyed say dealing with a skills shortage is their “greatest challenge” as they look ahead to the next 12 months. This was more than double the next highest challenge: 9.5 percent of those surveyed cited uncertainty about the economy as a concern.
The MNP Comox Valley Business Leaders Survey was conducted in partnership by MNP LLP, the Comox Valley Chamber of Commerce, Comox Valley Economic Development Society and Cumberland Economic Development. Modelled after similar surveys conducted by MNP in other communities across Canada, the survey provides a snapshot of the local business climate and economic outlook while exploring other local business issues. Results of prior Comox Valley surveys were released in January 2015 and January 2017.
This year’s survey found 2019 brought mixed results for local businesses. About half of businesses reported doing better financially today compared to 12 months ago, while 15 percent said their business is doing worse. Following a similar pattern, three in 10 businesses hired additional employees last year while one in 10 businesses reduced the number of people they employ.
Among the other key survey findings:
The survey reflects the opinions of 200 local business leaders from telephone interviews conducted by a third-party market research firm, PRA Inc., between November 13-27, 2019. The response rate was 24 percent — a strong result for this type of survey.
Results of the survey were released and discussed at an economic outlook breakfast hosted by the Comox Valley Chamber of Commerce on January 23, 2020. A summary of the results presentation is available online at www.MNP.ca/comoxvalleysurvey2020 and HERE