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Greenwich Chamber Releases 2019 Greenwich Business Survey Results

Greenwich Chamber of Commerce Releases Results From Its 2019 Annual Greenwich Business Survey
June 26, 2019

Greenwich Chamber of Commerce conducted its Fifth annual Greenwich Business Survey among members to gauge prevailing reactions and sentiments toward the current business climate. This survey was sent to more than 1,200 Greenwich Chamber members.
The Survey results indicated that Greenwich businesses are optimistic about the local business environment. Biggest challenges for the business community included: finding new clients, parking and traffic and the cost of real estate.
Other key results included the following:
  • 41% of respondents reported that current business conditions were better than 2018, a slight decrease from last year. 41% believe business remained the same as 2018. 17% reported that conditions were worse, similar to last year’s reporting.
  • 56% expect conditions next year (2020) to be better than this year (down 7% from 2018); 13% expect 2020 to be worse, a 6% increase from last year.
  • Impediments to business growth included: finding new clients (20% vs. 24% in 2018); parking and traffic (16% vs. 10% in 2018); cost of real estate (14% vs. 11% in 2018); availability of candidates (13%), finding skilled labor (12%), and regulations and permits (7%).
  • Among respondents who do business in other towns, the support for business growth continues to rank higher in Greenwich. The demand for goods and services in Greenwich experienced a slight increase (37% vs. 35% in 2018). The cost of real estate, difficulty in sourcing employees and the local regulatory environment were viewed worse in Greenwich as compared to other neighboring areas.
  • The Town of Greenwich continues to be viewed as providing good support for developing business. The support provided by the State of Connecticut’s was ranked less favorably.
  • The Town departments viewed most favorably were Fire, Police, Parks & Recreation, Community Development and Health.
  • Businesses reported the most concern with local Parking and Planning & Zoning departments.
The Survey results show a continuing optimistic outlook for the future of business growth in Greenwich. However, respondents repeated a more cautious outlook for the near term and future.
Nevertheless, the Survey results still show that Greenwich remains a town where Chamber businesses can grow. While local businesses are experiencing and adapting to a range of adjustments in the local and State economy, Greenwich remains highly desirable in terms of its services and support.
The Chamber continues to build better communications between the business community, its constituents and Town Hall. It will continue to use the results of these yearly member surveys to guide these and other efforts in the future.

  • June 27, 2019