Results from the 2022 Lethbridge Brighter Together Survey unveiled Thursday show overall, the outlook from the local business community is positive.
Sixty-nine per cent of respondents have a favourable view of the next six to 12 months, after local businesses reported growth in 2022.
Sixty per cent said they grew over the past year, up from 54 per cent the year before.
Fifteen per cent say business declined over the same timeframe, compared to a quarter of businesses that reported a reduction in 2021.
Year-over-year, the city’s strengths and challenges remain similar.
According to survey results, the biggest positives of Lethbridge are quality of life and the collaborative environment, both of which placed in the top three in 2021.
Proximity to complimentary industries knocked transportation infrastructure out of the top three.
Respondents said utility costs, the tax environment and workforce availability remain their biggest challenges, with additional focus on municipal taxes in 2022.
New to the most recent survey were questions on downtown business satisfaction.
The clean sweep program and frequency of Festival Square events received the highest rating, while the pace of residential development and safety scored lowest.
Looking to the future, labour shortages are expected to remain an issue, identified alongside the rising cost of inputs and labour as the biggest hurdles facing business owners in the year ahead.
Comments