A collaboration between Economic Development Lethbridge, the Lethbridge Chamber of Commerce and the Downtown Lethbridge Business Revitalization Zone wrapped up the sixth edition of the “Lethbridge Brighter Together” survey.
Results show a continued optimism among Lethbridge businesses, with nearly 63 per cent of businesses who answered the survey are optimistic about the health of their business in the next six to 12 months.
In the 2023 survey, 56 per cent noted expectations of moderate or substantial growth over the past 12 months.
“These results are encouraging and prove businesses in Lethbridge do have the opportunity for success in our city. We know the business community in Lethbridge is filled with hard working, community-minded individuals, all the way from our small shops in the downtown to bigger operations throughout the city.” says Cyndi Crane, Chamber CEO.
“We know things can always be better. That’s where our organization and our partners can help. Providing opportunities to speak to decision makers in all levels of government, discussing policy changes and regular communication with businesses in Lethbridge all help create a better ecosystem for everyone to flourish,” adds Crane.
This year’s survey was completed by 126 Lethbridge businesses, which represent 16,509 or 22.5 per cent of employees currently working in the city. Of businesses that did complete the survey, 48 of them noted they’re located in downtown Lethbridge and 30 of the respondents are considered major employers, meaning they employ 100 or more people.
More data from the “Brighter Together” survey highlighted:
- The biggest strengths to doing business in the Lethbridge area include quality of life and a collaborative environment. These were two of the top three advantages in 2023 and “Quality of Life” has been the number one strength for four consecutive years.
- The biggest locational challenges to doing business in the Lethbridge area include utilities costs and municipal tax environment. Utilities cost did see a slight improvement in performance compared to 2023.
- Local businesses are currently seeking the most help with strategies to retain employees and upgrading digital processes. Retaining employees witnessed a nine per cent increase compared to the previous year.
- Looking to 2025, businesses in Lethbridge will be looking at cutting costs, improving company productivity and leveraging and implementing new technologies.
“Our community should be proud ‘Quality of Life’ remains a huge advantage to doing business in Lethbridge. The hard work that goes into making Lethbridge a desirable location is a big task and every business, non-profit organization, community association and cultural organization have a big hand in that along with partners from every level of government,” notes Trevor Lewington, CEO of EDL.
“It’s also encouraging to see some of the perceived obstacles in Lethbridge getting better year over year and the support businesses are currently looking for are exactly the types of programs organizations like EDL currently provide. The Rural Renewal Stream and Rural Entrepreneur Stream of the Alberta Advantage Immigration program administered by EDL, for example, are intended to address the need to find and retain quality employees. In addition, our work with local manufacturers in Lethbridge related to implementing new technologies is just getting underway,” Lewington explains.
Detailed survey results can be found at chooselethbridge.ca.
