Brampton Businesses Are Confident of Economic Future

September 10, 2020 - Press Releases
Brampton, ON, September 10, 2020 – Today the Brampton Board of Trade released results of its inaugural Business Confidence and Economic Issues Survey administered by Narrative Research. Surveys completed this past summer queried business owners about confidence in the future of their organization and Brampton’s economy. Specific business issues including civic leadership, talent, trade, transit, transportation, innovation, taxes and investment attractiveness were also queried.
Key findings were:
That businesses are quite optimistic about the future and are satisfied with City Council’s pandemic response:
  • 78% are confident in Brampton’s economic future
  • 86% are confident in their own organization’s future
  • 32% expect the # of staff within their organization to increase over the next 12 months
  • 68% are satisfied with Brampton City Council’s response to the COVID-19 pandemic
“Despite an extraordinarily tough business environment, Brampton business people are pulling together to help one another.”, says Vanessa White, CHRO for Maple Lodge Farms and Chair of the Brampton Board of Trade. “Our survey indicates that businesses look forward to working together, through the Board of Trade and with our elected leaders, to accelerate investments that will help businesses growFundamentally, Brampton is a great place to do business and our optimism continues.”
With respect to economic growth, of particular interest is a healthy skepticism towards the effectiveness of governments at all levels, pointing to the need for better collaboration:
  • Only 1 in 2 agree that the municipal government:
  • displays a positive external brand image
  • shares priorities that align with business needs
  • Only 1 in 2 are confident in:
  • Brampton City Council’s ability to make good decisions
  • The senior levels of Government
“These are tough times. Our elected leaders have tough decisions to make on priorities.”, said Todd Letts, CEO of the Brampton Board of Trade, “This confidence survey provides direct, constructive feedback to governments at all levels, about the current harsh market realities and how the decisions and indecision of government directly impacts job-creation and the economic health of our community.”
A broad diversity of business representatives participated in the surveys. The majority of respondents offer B2B services including the manufacturing and construction sectors. About one third offer consumer goods and services. Respondents represent businesses that operate not only in Brampton but throughout Canada. Approximately one quarter of these Brampton businesses have international operations. In total, from June 10th to July 3rd, 2020, 111 business people completed surveys administered by Narrative Research.  
An executive summary of results can be found here. More survey results will be released in the coming weeks.
Todd Letts, CEO

About The Brampton Board of Trade
Serving the community for over 130 years, Brampton Board of Trade is the go-to organization where businesses of all sectors, convene, collaborate and create solutions to boost regional economic prosperity. We provide solutions to the toughest problems that businesses face every day including overcoming barriers to growth, attracting and retaining talent and making the right connections. Board of Trade members advocate for business success and community prosperity, employing more than 45,000 in Brampton.

Originally Published by Brampton Board of Trade