Last week we launched the Toowoomba Business Performance Sentiment Index Survey 2023. Your opportunity to be heard and have your voice, in a confidential way, without fear of retribution.
The survey, developed by Toowoomba Chamber member, McCrindle and delivered thanks to our partner the Toowoomba and Surat Basin Enterprise is an index that measures conditions, performance, and sentiment along with space for custom questions to better understand the needs of the business community within a geographic region.
The Business Performance Sentiment Index or PSI
Known as the Business Performance Sentiment Index or PSI this business engagement tool is designed to help understand the ongoing perception business owners have of their business performance, conditions, and sentiment. Importantly, the results can be tracked over time to reveal the impact of external trends, local programs, and nuances in regions.
The Business PSI was designed to be distributed in our local area to measure economic conditions, regulatory settings, and infrastructure in our local context. This allows for nuanced understanding of business performance and conditions, right here in our region.
A Toowoomba Chamber initiative helps to better understand the sentiment and perceptions of local businesses which informs advocacy and develops evidence-based solutions to assist in standing up for business and fighting for policy change.
STAND UP for local business!
The Toowoomba Chamber see this work as critical. Critical given the local government elections less than 12 months away. Critical as we will get to compare the 2022 survey with the 2023 survey. Providing the evidence base and trends to enable us to STAND UP for local business.
Remember, in 2022, the survey depicted that our diversity and local connectivity as our strength, delivered on the back of our uniqueness of having multiple well-oiled and successful industry sectors. Something considered unique in a regional Australia setting.
But the 2022 findings identified some hefty headwinds. Headwinds considered if not confronted would stifle our potential, our growth, our community wellbeing. The business community said that we were concerned about the rising operation and staff costs and an inability to attract and house talent. Has this changed?
The business community said the biggest impact on them was the lack of local infrastructure provision and impact of local, state, and federal regulatory settings which where the key factors dampening the attractiveness of our small business city. Do you believe this is still the case?
It is now time to revisit these important questions. The Business Performance Sentiment Index survey is valuable in that it will:
- gather evidence of the issues and pressures facing local businesses;
- collect data on current and future programs/initiatives;
- understand how businesses are performing, their future sentiment and a detailed understanding of how conditions are affecting the business community in Toowoomba; and
- get insights to understand changing trends.
Go to the Toowoomba Chamber website, fill out the Business Performance Sentiment Index survey and be heard.
Let’s build an arsenal of evidence, so we can together collectively create a tidal wave of positive change that benefits the business community and the region.
