Londonderry Chamber of Commerce Member Survey January 2024

Preamble

As we enter the first quarter of 2024, with our new President Greg McCann at the helm, we are seeking to gauge the views of our valued members on the opportunities and challenges facing your business. This in turn serves as a helpful and up-to-date measure of North West business sentiment as a whole and can be compared against previous and future surveys to set our priorities in the short, medium and long-term.

We would be grateful if you would take five minutes to answer 20 questions.

Question Title

* 1. What sector is your business in?

Manufacturing

Retail

Tourism and Hospitality

Education and Skills

Professional services (IT, financial services, law, media and communications, HR, accountancy etc.)

Other (please specify)

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* 2. What are the biggest challenges facing your business currently? Please select 2.

Rising costs / inflationary pressures.

Interest rates

Declining consumer confidence / less disposable income.

Workforce shortages.

Lack of an NI Executive

Post-Brexit trading arrangements

Infrastructure deficits

Any other comments?

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* 3. What are the biggest opportunities that your business is looking towards? Please select 2.

City Deal

Expansion of Ulster University in Derry/Londonderry

Export growth opportunities from access to UK and EU markets

A return to pre-Covid footfall and demand

Improved infrastructure

A spike in tourism

Increased business confidence

Cross-border connectivity

Emerging industries (e.g., FinTech, RegTech and life sciences)

Investment in the North West

Net zero carbon / Green economy opportunities

Any other comments?

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* 4. Which issues should the Chamber prioritise during engagements with Governments and policy makers in 2024? Please select three.

Absent Northern Irish Executive

Devolving further Fiscal Responsibilities

The Cost-of-Doing-Business Crisis

Energy Prices

Windsor Framework

Business Development

Corporation Tax

Cross-border Co-operation

Decarbonisation/Green Economy

Digital Economy

Education and Skills

Entrepreneurship

Infrastructure

Investment in the North West/Foreign Direct Investment

Tourism (Air Passenger Duty and VAT)

Women in Business

Any other comments?

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* 5. What are the three biggest concerns you have about your business in 2024?

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* 6. What specific supports would help your business navigate the current economic challenges? Choose two.

Extension of the energy support scheme

Grants to support transition to green energy sources

Greater flexibility from banks on lending

Covid-style cash grants for small businesses

tax breaks / reduction in Employer taxes

rates reductions

Other (please specify)

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* 7. How detrimental has the cost-of-doing-business crisis and high inflation been for your business over the past 12 months?

Very detrimental

Somewhat detrimental

Neither detrimental nor beneficial

Not very detrimental

Not detrimental at all

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* 8. How confident are you that your business can grow in 2024 despite the current economic climate?

Very confident

Somewhat confident

Neither confident nor unconfident

Somewhat unconfident

Very unconfident

Don’t Know

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* 9. Which markets do you currently trade with? Choose as many that are applicable.

Northern Ireland

Republic of Ireland

GB and rest of the UK

Europe

North America

Asia

Africa

Australia and/or New Zealand

Other (please specify)

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* 10. Have you made any significant business investment decisions in the past 12 months and if so, what areas did the investment focus on? If you haven’t made any, please respond N/A

N/A

State here:

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* 11. Have you innovated your products or services in the past 12 months to save costs, improve your operations, or meet customer demands? Please outline how. If not, please respond N/A

N/A

State here:

Question Title

* 12. What specific aspects of the current economic climate is your business struggling with most? Choose three most relevant.

Higher interest rates

Increased supply prices

Supply chain difficulties

Cost of childcare

Energy costs

Currency fluctuations

Drop in customer demand

Inflation

Uncertainty regarding political solutions stemming from an absent Executive

Other (please specify)

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* 13. How have your early experiences been of the new Windsor Framework?

Positive, has led to a growth in trade/new business opportunities

Neither positive nor negative

Negative, overly cumbersome and bureaucratic

No experience of the Windsor Framework yet

Other (please specify)

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* 14. Do you intend to hire staff in the coming months?

Yes I intend to hire staff in the coming months

No I have no intention of hiring additional staff

I plan on letting go of staff in the coming months

Not sure

Other (please specify)

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* 15. What challenges are you experiencing around recruitment at this time?

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* 16. What impact has the lack of an Executive had on your business?

Significant negative impact

Slight negative impact

No impact on business

Slight positive impact

Significant positive impact

Other (please specify)

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* 17. When the Executive returns, what policies or proposals should the Executive prioritise to alleviate pressures on businesses at this time?

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* 18. Overall, how satisfied are you with the Londonderry Chamber of Commerce?

Very satisfied

Somewhat satisfied

Neutral

Somewhat dissatisfied

Very dissatisfied

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* 19. When did you last attend a Chamber event?

In the last month

In the last 3 months

In the last 6 months

In the last year

Over a year ago

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* 20. Which membership benefits do you find most valuable? Please select up to 3.

Business Contacts

Business Promotion

Business Support

In-person events

Virtual events

Influencing Policy

Guidance on available government support schemes

Networking

Profile Enhancement

Skills

Other (please specify)

Londonderry Chamber of Commerce Member Survey January 2024

Preamble

Question Title

* 1. What sector is your business in?

Question Title

* 2. What are the biggest challenges facing your business currently? Please select 2.

Question Title

* 3. What are the biggest opportunities that your business is looking towards? Please select 2.

Question Title

* 4. Which issues should the Chamber prioritise during engagements with Governments and policy makers in 2024? Please select three.

Question Title

* 5. What are the three biggest concerns you have about your business in 2024?

Question Title

* 6. What specific supports would help your business navigate the current economic challenges? Choose two.

Question Title

* 7. How detrimental has the cost-of-doing-business crisis and high inflation been for your business over the past 12 months?

Question Title

* 8. How confident are you that your business can grow in 2024 despite the current economic climate?

Question Title

* 9. Which markets do you currently trade with? Choose as many that are applicable.

Question Title

* 10. Have you made any significant business investment decisions in the past 12 months and if so, what areas did the investment focus on? If you haven’t made any, please respond N/A

Question Title

* 11. Have you innovated your products or services in the past 12 months to save costs, improve your operations, or meet customer demands? Please outline how. If not, please respond N/A

Question Title

* 12. What specific aspects of the current economic climate is your business struggling with most? Choose three most relevant.

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* 13. How have your early experiences been of the new Windsor Framework?

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* 14. Do you intend to hire staff in the coming months?

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* 15. What challenges are you experiencing around recruitment at this time?

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* 16. What impact has the lack of an Executive had on your business?

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* 17. When the Executive returns, what policies or proposals should the Executive prioritise to alleviate pressures on businesses at this time?

Question Title

* 18. Overall, how satisfied are you with the Londonderry Chamber of Commerce?

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* 19. When did you last attend a Chamber event?

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* 20. Which membership benefits do you find most valuable? Please select up to 3.

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* 21. Any suggestions about improvements that could be made?

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* 22. Any other comments?