2024 - Kimberley Business Retention & Expansion Project

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Executive Summary

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The 2024 Kimberley Business Retention and Expansion (BRE) Survey, conducted by the Kimberley & District Chamber of Commerce, provides a comprehensive snapshot of the local business climate, identifying key trends, challenges, and opportunities. Supported by the Economic Trust of the Southern Interior and the City of Kimberley, the survey collected responses from 65 businesses across a range of sectors, representing a 19% response rate.

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Key Findings

• Business Demographics & Ownership

  • A strong entrepreneurial culture persists, with a noticeable increase in newer businesses (under five years).

  • Most businesses are locally owned and operated, reinforcing the retention of economic value within the community.

  • There is a decline in businesses owning their property, suggesting a growing reliance on rental space.

• Business Satisfaction & Expansion

  • Overall satisfaction with Kimberley as a place to do business has decreased since 2019.

  • While many businesses are not seeking immediate expansion, 29% are actively looking for new space—mostly commercial or office—which is in short supply.

  • High satisfaction with infrastructure (utilities, communications), but low satisfaction with commercial space availability, housing, and workforce.

• Workforce Issues

  • Workforce stability is mixed: 68% are stable, 22% are hiring, and 11% are downsizing.

  • Recruitment remains a major concern, hindered by a lack of affordable housing, high labour costs, and limited labour availability.

  • Retention issues are low, but unusually high retention may indicate limited job mobility and a stagnant labour market.

  • Over half (56%) of respondents support immigration programs to address workforce gaps.

• Economic Development Priorities

  • Businesses prioritized development of light-industrial, hospitality, energy, and agriculture sectors—signaling a desire for economic diversification.

  • Retail and tourism ranked lowest, possibly indicating satisfaction with current focus or saturation.

• Chamber of Commerce Engagement

  • While a majority of businesses have been members of the Chamber at some point, current membership is down to 52%.

  • Sentiment toward the Chamber is generally positive to neutral, with calls for increased visibility, support services, and advocacy.

  • Promotional support was identified as the most beneficial service the Chamber can provide.

 

Recommendations

1. Address Workforce & Housing Needs

   • Prioritize housing affordability and availability.

   • Support skills development and employment training.

   • Leverage immigration as a workforce solution.

2. Expand Commercial Infrastructure

   • Increase availability of commercial, office, and industrial spaces.

   • Encourage strategic investments and partnerships.

3. Support Small Businesses & Entrepreneurs

   • Broaden access to business education, networking, and funding.

   • Enhance support for digital marketing and e-commerce.

4. Diversify the Local Economy

   • Promote growth in underrepresented but promising sectors.

   • Evaluate community events for broader economic impacts.

5. Enhance Business & Community Engagement

   • Strengthen collaboration between businesses, government, and residents.

   • Advocate for policies that reinforce local economic resilience.

 

Survey Limitations & Future Improvements

The Chamber recognizes the need for greater consistency and broader participation in future surveys. Recommendations include annual survey cycles, broader outreach strategies (including in-person engagement), and more refined survey design to improve comparative value and data quality.

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