Businesses still recovering from economic downturn

A recent survey by the Red Deer Chamber of Commerce suggests that considerable pain from the economic downturn remains, but the majority of business operators are optimistic about the future.

A recent survey by the Red Deer Chamber of Commerce suggests that considerable pain from the economic downturn remains, but the majority of business operators are optimistic about the future.

The Chamber found that 85 per cent of members who responded to the survey are still recovering from the recession. However, 34 per cent said they’ve almost or completely rebounded from the economic setback, and 67 per cent anticipate moderate to significant growth in their businesses going forward.

Some pessimism remains, with 65 per cent believing that ongoing economic problems in the United States and elsewhere in the world will impact Canada.

About 125 Chamber members completed the survey, out of a roster of approximately 900.

The Chamber has been canvassing its members every 18 months to assess their economic outlook.

Two years ago, 45 per cent of respondents said they expected little or no significant impact from the economic downturn, which was then in its early stages. By the spring of 2010, two-thirds of those that responded said they were experiencing moderate to significant losses as a result of the faltering economy.