Fernie & Area BRE Completed August 2016

A Business Retention & Expansion (BRE) report is complete for Fernie and Area, representing 75 businesses (1 in 6 companies). The report is a collaborative effort by the Fernie Chamber of Commerce, the City of Fernie, the Columbia Basin Trust, and the Columbia Basin Rural Development Institute. It can be viewed and downloaded here: BRE (Business Retention and Expansion) Report On Fernie & Area Spring 2016

Highlights of the report include:

• Positive trends and outlook - over half the companies surveyed are growing. The majority of businesses reported that the market for their product or service is increasing or stable and the majority believe the business climate will improve in the next five years.
• A local focus – 71% of businesses report that the majority of their sales are to customers within the community or region. Fewer than 10% import or export goods or services internationally.
• The importance of tourism – 93% of respondents see tourism as the economic driver with the greatest growth potential. Actions to support the tourism industry could include continued collaboration between government, local tourism agencies, and local businesses.

“The Chamber embarked on the BRE project to get a better understanding of the condition and needs of the Fernie business community. We are encouraged by the results. The optimistic outlook shows Fernie is ready to take on any challenge. Further, the results show us where we can get started to build on current success” says Patty Vadnais, Executive Director of the Fernie Chamber of Commerce. The Fernie Chamber of Commerce is organizing an event September 15th. Along with the results of the BRE, there will be a presentation on city planning, and a business to business tradeshow. Vadnais notes that “we found that many businesses were unaware of the many tools and services available to strengthen their businesses. The B2B Tradeshow is designed to give business owners time to learn about tools like Community Futures, go2HR, Imagine Kootenay, and EK Employment. As well we will have bankers, lawyers, business coaches, and insurance providers on site to answer questions.” The presentation and tradeshow is free and open to all.