LEE'S SUMMIT, MO (March 11, 2009) - As part of its ongoing strategy to retain and expand business, the Lee's Summit Economic Development Council (LSEDC), along with its counterparts from other economic development organizations throughout the Kansas City metro, conducted a short e-mail survey designed to gauge the impact the recent economic challenges are having on the business community.
Although, the current economy is presenting some challenges, the overall responses were positive. Six economic development organizations participated in the survey, with 236 businesses responding for a 20% response rate. LSEDC sent surveys to approximately 100 companies and also had a 20% return rate. Here is how Lee's Summit companies compare to businesses throughout the Kansas City, Mo., metro area:
• 62% of Lee's Summit employers do not have critical suppliers or vendors at risk. 70% in Kansas City
• 67% of Lee's Summit employers do not have major clients/key consumer groups at risk. 61% in Kansas City
• 67% of Lee's Summit employers do not anticipate any layoffs in the next 180 days. 79% in Kansas City
• 89% of employers in Lee's Summit have adequate financing available for their short-term needs. 74% in Kansas City
• 83% of Lee's Summit employers see opportunity for increased market share or a new competitive advantage. 69% in Kansas City
• 17% of Lee's Summit employers feel they may need local EDC's assistance to leverage current opportunities or mitigate challenges. 29% in Kansas City
"The results showed us that some Lee's Summit companies are struggling in this economy, but many are still solid," says Teresa Evans, Vice President of LSEDC. "Based on the results, we are working with individual companies that indicated they need assistance. One of the most critical focal points for LSEDC is business retention and expansion. As part of our business retention strategy, LSEDC is available to work with companies to find local, regional and statewide resources that may be help them survive and thrive during this challenging time."
Jim Devine is 2010 Missouri Professional Economic Developer of the Year
