The Hamilton Chamber of Commerce survey reports members unsatisfied with transportation infrastructure
Hamilton businesses are confident about their individual futures, but not so optimistic about the overall economic landscape in Ontario, a report suggests.
Growing client bases and increased demand for products and services are pushing up the confidence of business owners, but the high cost of living, provincial debt and prices for raw materials and electricity are pushing down confidence.
The results were published this week by the Hamilton Chamber of Commerce in its 2019 Hamilton Economic Report, which takes a snapshot of the outlook of local businesses.
According to the report, 56 per cent said the high cost of living is the one of the main reasons for their lack of confidence in the future of Ontario.
“The results demonstrate Hamilton businesses are extremely confident in their individual firm’s economic projections. This shared optimism accounts for 64 per cent of all respondents,” read the report.
“Overwhelming evidence suggests Hamilton businesses have a high degree of confidence in the future. Firms project increases in both revenue and workforce size in the months ahead,” said Hamilton Chamber of Commerce president and CEO, Keanin Loomis.
Although businesses have a positive outlook, the study found that they aren’t satisfied with existing pubic transportation infrastructure.
One in four people rated it as “poor” in terms of its ability to meet organizational needs.
“However, with one in four businesses unsatisfied with the ability of existing public transportation infrastructure to meet their organizational needs, we clearly need to do better.”
Of the 1,000 members that employ 75,000 people in the area, 129 completed the survey that was conducted between the end of September to the beginning of November.
The purpose of the annual survey of business owners — all members of the chamber — is to capture the “mood” of Hamilton businesses, particularly as it relates to the economy, the report said.
The chamber says it looks forward to working with all levels of government to take advantage of opportunities that will increase economic growth for businesses across the city.
