Economic Development Launching New Local Business Inventory

‘Now, more than ever, having accurate local data is vital’

The desire to help local businesses survive and thrive has been projected further into the spotlight as a result of the COVID-19 pandemic.

Peterborough is rich with many small enterprises and the Peterborough & the Kawarthas Economic Development (PKED) is launching a new initiative to create an inventory of what the local economy looks like.

PKED is undertaking on June 15 the region’s first annual count of businesses as a way to collect information on local business and gain insight into the region’s economic landscape.

Between June and September, PKED will conduct the brief, voluntary business count. Information-gathering will happen through an online platform and over the phone.

“Now, more than ever, having accurate local data is vital,” says Suzanne McCrimmon, PKED’s director of business development, in a news release.

“It will help us better inform our decisions and programming efforts to support business and to disseminate important information regarding programs and funding in the future.”

The information being collected will be used in part to generate an up-to-date business directory for PKED. It will also be shared with partner municipalities, when agreed upon by businesses.

“To reach as many businesses as possible, the success of this program will depend on the assistance of local municipalities, businesses and landlords,” says Steven Tripp, PKED’s business retention & expansion officer.

“We’re going to be encouraging businesses to voluntarily fill out the form online as well to make it easier for businesses to share their information with us.”

PKED says the business count data will help accomplish the following:

-Provide a valuable annual snapshot of the region’s business community

-Identify vacant properties and spaces for new and existing businesses to locate, supporting the region’s main streets and business corridors

-Provide improved regional workforce data

-Assist in making better-informed decisions related to job growth, workforce development, business opportunities and community development initiatives.

“The region-wide collection of this data will also allow us to understand the business composition of our communities and business areas to understand what vulnerabilities or opportunities exist,” Steven says.

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