In March 2023, the Longmont Area Chamber of Commerce asked all Longmont businesses to take part in a Longmont Business Climate Study. Some of the early analyses painted a new picture.
Scott Cook, executive director of Longmont Area Chamber of Commerce, said the survey has ended and he is finding new concerns among employers in Longmont.
In previous years, marketing and communications efforts were a big struggle for many businesses. It was difficult for these businesses to share information and draw in customers. Cook believes this is still a problem but that it weighs less heavily on business owners than other topics.
Inflation and employment issues such as wages and benefits, finding skilled employees and housing for employees are the top concerns, according to the study.
According to recent data from the U.S. Bureau of Labor Statistics, the unemployment rate for the Boulder region was 2.5% in May 2023. The average rent ranges between $1,308 and $2,221, according to Rent.com.
Although immediate concerns are impacting business owners, they are generally optimistic about the long-term future, Cook said.
One surprise that came from the study was around the question of growth. Most businesses said they were not looking to expand their business in Longmont or Boulder County.
This was concerning for Cook who hopes to spend time in the near future looking into the reasons why this may be. He suspects some business owners feel they have a large enough local presence and it would be a natural next step to expand into another city/county. He also wonders if a local problem exists that is forcing businesses out, but was unable to pinpoint what that might be.
“The costs of doing business and wages are having an impact on businesses wanting to expand or they are realizing that they can’t do too much here,” Cook said. “That is definitely something for us to be concerned about.”
Longmont relies on the entrepreneurship of small businesses.
“If they are finding it too difficult or if it is easier somewhere else, what happens to the face of Longmont, the culture and the feel of Longmont?” Cook asked.
Cook doesn’t have a solution yet but believes there may be several issues that need to be addressed to keep small businesses in the city.
The Longmont Area Chamber of Commerce has sent the survey results to a committee that will outline the best course of action. Cook expects a full plan should be formed toward the end of August.
In the meantime, Cook has begun some advocacy to the Longmont City Council on topics such as minimum wage increases. The Chamber staff has also begun scheduling a series of educational events for business owners that address some of their biggest concerns.
“The main thing that we are working on this year is we’re trying to move the Chamber more into an advocacy/business support organization versus just the networking,” Cook said. “This survey was intended to go along with the goal for the year and inform those decisions on how we can do that.”
