2017 Business Climate Survey Comparison

2017 Business Climate Survey 2012, 2014, & 2017

Would You Encourage Others To Start A Business In Grant County? 45 40 35 30 25 20 15 10 5 0 Highly Encourage Somewhat Encourage Neutral Somewhat Discourage Highly Discourage 2012 2014 2017

Would You Encourage Others To Start A Business In Grant County? • There has been a slight polarization of answers to this question in the past survey. More business would encourage others to start a business in Grant County, however more would also discourage other to start one as well.

How Supportive is Grant County of Small Business Owners? 50 45 40 35 30 25 20 15 10 5 0 Very Supportive Somewhat Supportive Neutral Somewhat Very Unsupportive Unsupportive 2012 2014 2017

How Supportive is Grant County of Small Business Owners? • According to our survey results, Grant County is seen as being mostly supportive of its small business owners. Very few respondents in any of the surveys we’ve administered noted Grant County as being unsupportive of their small businesses.

How Easy Or Difficult Is It To Start A Business In Grant County? 45 40 35 30 25 20 15 10 5 0 Very Easy Somewhat Easy Neutral Somewhat Difficult Very Difficult 2012 2014 2017

How Easy Or Difficult Is It To Start A Business In Grant County? • There was significant polarization in answers in this year’s study compared to previous year’s responses. Many more listed it as easy to start a business, but many more also stated that it is difficult to start a business.

Over The Past 12 Months Revenues… 60 50 40 30 20 10 0 Increased Greatly Increased Slightly Neutral Decreased Slightly Decreased Greatly 2012 2014 2017

Over The Past 12 Months Revenues… • In all three studies, the vast majority of businesses reported that they saw slight increases in revenues.

In The Next 12 Months We Expect Business to be 70 60 50 40 30 20 10 0 Substantially Better Slightly Better Neutral Slightly Worse Substantially Worse 2012 2014 2017

In The Next 12 Months We Expect Business to be • There is a very favorable outlook for businesses when considering their next year of operations.

Grant County Compared To The Nation 60 50 40 30 20 10 0 Substantially Better Slightly Better Neutral Slightly Worse Substantially Worse 2012 2014 2017

Grant County Compared To The Nation • There is a disconnect between the overall positive outlook on individual businesses and the more negative perception of Grant County’s economy as a whole. This division leaves the question as to what other influences are shaping business owners’ perceptions of Grant County’s economy.

What Type Of Internet Does Your Business use? 120 100 80 60 40 20 0 Dial Up Broadband Satellite No Internet 2012 2014 2017

Nature Of Business 60 50 40 30 20 10 0 Retail Manufacturing Professional Services Wholesale Online 2012 2014 2017

Location Status 90 80 70 60 50 40 30 20 10 0 Owned Leased Multiple Locations 2012 2014 2017

Location Status • According to this study, more businesses are leasing instead of owning, however this could just be a result of sampling different businesses during the different studies.

Number Of Employees 45 40 35 30 25 20 15 10 5 0 Less than 5 employees 6-24 employees 25-100 employees Over 100 employees 2012 2014 2017

Key Factors Of Success 2012 2014 2017 Lower State taxes 4.00 3.79 3.57 Being price competitive 4.20 3.96 4.15 Ability to enter new 3.71 3.68 3.86 markets Controlling labor costs 4.05 3.86 4.16 Fewer local government 3.97 3.82 3.38 regulations Ability to bring new 3.51 3.4 3.6 products to market Managing energy costs 3.98 3.84 3.65 Better transportation 2.97 2.91 3.21 access Ability to reach and serve customers via the 3.73 3.43 3.62 internet

Constraints To Growth 2012 2014 2017 Global/ national economic performance 3.88 3.73 3.76 Rising overhead and utility costs 4.03 3.86 3.49 Declining demand from customers 3.45 3.32 2.97 Availability of skilled workers 3.79 3.86 4.27 Problems with State and Local regulations 3.77 3.52 3.22 Expanding output through improved 3.53 3.50 3.74 quality and performance Rising transportation costs 3.69 3.60 3.26 Increased competition from low cost 3.40 3.40 3.33 imports Price pressures from suppliers 3.66 3.60 3.42 Difficulties in obtaining financing 3.20 2.82 2.85 Transportation infrastructure 3.05 2.95 2.98 Broadband and information technology 3.09 3.00 3.31 access Access to employee training 3.15 3.16 3.44

What Can The Growth Council Do? 2012 2014 2017 Improving local business climate 3.97 3.98 3.88 Fostering collaboration among 3.62 3.64 3.77 local elected officials Attracting new business to the 3.91 3.72 3.90 community Assisting entrepreneurs to successfully launch new 3.73 3.16 3.72 businesses Provide financial assistance such 3.54 2.88 3.16 as low interest loans Hosting private forums for you and your local peers to discuss 3.25 3.00 3.24 common concerns Assisting local firms to grow 3.84 3.79 3.93

2017 Business Climate Survey 2014 & 2017

Skills Deficiencies In Rejected Employees 90 80 70 60 50 40 30 20 10 0 Lack of basic Lack of tech skills Inadequate reading Inadequate Inadequate math Inadequate training problem solving employability 2014 2017

Skills Deficiencies In Rejected Employees • Inadequate employability is the highest skill deficiency noted by businesses. Between both years, responses to the question were very constant.

Business Performance 60 50 40 30 20 10 0 Challenged Stable Healthy 2014 2017

Majority Of Customers Are Located 45 40 35 30 25 20 15 10 5 0 In Grant County In Indiana In the other 49 states Outside the US 2014 2017