The Greater Naples Chamber, in partnership with Collier County Government and Florida Gulf Coast University, is pleased to present the Collier County Business Climate Survey Report for the first quarter of 2020.
About the survey:
The Collier County Business Climate Survey Report, published in partnership between Collier County Government, the Greater Naples Chamber, and Florida Gulf Coast University, provides primary research to the business community, elected officials, and other concerned citizens designed to gauge the state of Collier County’s economy over time as well as impressions and concerns about it in the future.
The Executive Business Climate Survey provides a view of the local economy based on responses from senior executives from a range of industries across the county. The internet survey was sent to 198 executives and business owners in Collier County.
The business climate survey is comprised of three areas of focus. The first area examines Collier County business executives’ impressions of economic conditions and trends with respect to hiring and investment. The second area provides the calculation of an Executive Business Climate Index (EBCI). The third area is comprised of issue-specific questions that change from survey to survey. The current “special topics” section focuses on the firm’s ability to fill their most skilled position and expectations they have for potential candidates.
Key survey results:
Key indicators seem to suggest overall confidence among business leaders’ that the local economy will not experience a decline in the coming year and optimism in business owners’ perception of the direction of the local economy in the last year:
• 57 percent of executives stated the current economic conditions in Collier County have improved over last year.
• 57 percent of executives expect the economy to improve over the next year.
• 54 percent of executives expect economic conditions for their industry to improve over the next year.
• 62 percent of executives reported increased employment over the last year.
• 70 percent of companies expect to increase investment next year.
One of the key features of this survey is the calculation of an Executive Business Climate Index. The EBCI provides a summary number which will allow one to quickly gauge whether the business climate in Collier County is improving or declining. The index measured at 66.4 during the first quarter of 2020 on a range of 0 to 100, 100 meaning the business climate is substantially better, and 0 meaning the business climate is substantially worse. Given that this is the first measurement overall, once more quarters are measured trends in the EBCI may be established.
Additional comments from the surveyed executives included cost of living concerns and availability of local and promotion trade work.