Survey: Economy top challenge for local business

The economy was of greatest concern to retailers and food companies with 74 percent calling it a challenge, followed by wholesalers at 65 percent and professional services, 60 percent.

The survey was conducted by the Irvine office of MacKenzie Corp. of 400 Irvine businesses for the Irvine Chamber’s Economic Vitality Committee. The Orange County Register is a partner in the project.

More than two-thirds of respondents have their headquarters in Irvine; more than half are professional or business services; 47 percent have fewer than six employees and an equal number have been in business in Irvine for more than 10 years.

While economic concerns have businesses reluctant to grow, fewer companies are planning on layoffs, the survey found. Almost seven out of 10 responding companies said they will maintain current operations in the next six months, while 23 percent said they plan to expand, 6 percent will downsize in Irvine and 3 percent will relocate outside the city, the survey found. That is a 3-point boost in companies planning to expand and a 9-point drop in companies planning to leave Irvine.

Eight out of 10 respondents said they are completely or very satisfied with Irvine as a place to do business, up from 69 percent in 2010. Respondents listed the city’s image as its top attribute for business, followed by its access to transportation (It has three major freeways, two toll roads, a train station and is near John Wayne Airport). The businesses listed local colleges as third in importance.

Irvine’s image was most important to financial services, manufacturing and life sciences companies.

Important to the survey’s sponsor, 98 percent of those surveyed said the chamber is a valuable business resource.

“We are encouraged by the positive impact, as well as the positive change in consumer behavior our members are seeing as a result of the chamber business development initiatives,” said Chamber President and CEO Tallia Hartman. The Irvine chamber is one of 250 nationwide accredited by the U.S. Chamber of Commerce.

View the report: http://www.irvineecondev.com/uploads/misc/irvine_chamber_survey_results_120911.pdf