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US NEWS 
CALGARY – Perceptions of the Calgary economy are slowly improving, but a new survey of business leaders for Calgary Economic Development and the Calgary Chamber has revealed a recognition that this is not the same business cycle and new ideas are needed.
“There is optimism for the year ahead,” concluded the report from Calgary research firm Stone Olafson that reflected responses of 989 local business owners and senior company executives in an online poll conducted from November 9 – 25, 2017.
The survey’s Business Confidence Index in found optimism about the economy has increased to 64.2 points from 60.8 in the spring while the outlook for company performances declined slightly to 78.2 points from 79.4. The report states “while the overall health of the local economy is slowly rebounding, the trickle-down impact on businesses themselves has yet to be felt.”
“In 2015 and 2016, it was all about survival and not growth,” said Adam Legge, President and CEO of the Calgary Chamber. “Moving into 2018, we are hearing it’s all about doubling down and taking bold steps to grow. Business leaders are working to make the most of a new situation with 30% planning on making investments and almost 40% are planning to hire in the next six to 12 months.”
Among the key findings from survey respondents:
- 62% said their company would perform “better” in the year ahead and 14% said would be “a lot better.” In the fall 2016 survey, only 44% said their company would perform better in the next year.
- 61% said the economy will perform better in the year ahead and 4% expect it to be “a lot better.” In fall 2016, only 38% said the Calgary economy would improve over the next year.
- Compared with the spring 2017 survey, respondents were marginally more optimistic about the outlook for own business and slightly less optimistic about the Calgary economy.
- In dealing with the new economic reality, 52% are working to secure new clients, 43% are focusing on improving productivity and 39% are focused on entering new markets.
“It’s encouraging to see so many companies working to secure new customers or entering new markets as they adopt a mindset that ‘business-as-usual’ won’t get the job done,” said Mary Moran, President & CEO of Calgary Economic Development. “The focus on integrating technology that improve productivity and operational efficiency will pay long-term dividends for our companies.”
Calgary Economic Development and the Calgary Chamber have mutually supportive programs to help local businesses succeed, and to market the city as a great location for investment and trade.
- Calgary Economic Development
Media line: 403-880-7040 - Calgary Chamber
media@calgarychamber.com or 403-750-0434
About Calgary Economic Development
Calgary Economic Development is an opportunity-maker, helping to spark and fuel Calgary’s growth. Our job is to connect people with resources that can help them grow their careers or businesses, thrive in new locations or markets, and feel at home in our community. We offer a wealth of information to help everyone succeed and we tirelessly promote Calgary, in Canada and around the world. We’re exhilarated about our role in shaping and sharing Calgary’s story and we’re proud to be part of the energy. For more information, please visit calgaryeconomicdevelopment.com and follow us on Twitter @calgaryeconomic.
About the Calgary Chamber
The Calgary Chamber is a non-profit, non-partisan organization. For 126 years the Chamber has worked to connect Calgary’s businesses, help them grow and expand their influence in an effort to make the city an even better place to live and work for all.
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