Business Owners Survey Results Summary
Overview (September 2010)
In September, 2010, the PEDC posted a survey for local business owners on their website to collect data on the size, type and issues that local businesses have concerning the Portsmouth business environment. This was a web-based survey that attempted to replicate, in part, an earlier survey conducted by URI’s Research Center in Business & Economics in 2000. The survey was posted online for about four months and collected responses from 26 Portsmouth business owners.
Summary of the key responses.
- Years in Business. Respondents had been in business in Portsmouth for an average of almost 14 years, with a high of 56 years and a low of 1 year.
- Numbers of Employees. They employed a total of 589 employees, averaging 23 employees each, with a high of 200 and a low of 1 employee. About half of these were full time, the others part time. Skill level of employees were recorded as being about 20% Professional/Managerial, 29% Skilled labor and 51% Unskilled labor, although the employee totals on the skill levels question, 477, was considerably lower than the 589 recorded in an earlier question. The reason for this is unclear, since both questions were answered by the same number of respondents.
- Types of businesses varied widely with 8.3% in Manufacturing and Construction, 20.8% in Wholesale/Retail, 4.2% in Real Estate, Defense-related and Restaurant/Bar/Catering, 16.7% in Marine-related trades, and 41.7% in Other Services.
- Why locate in Portsmouth? The most frequent reason cited for locating their business in Portsmouth was because the owner was a Portsmouth resident or had grown up here. Portsmouth schools were another frequently stated reason for moving a business (and presumably, residence) to Portsmouth. The closeness to local marine trades on Aquidneck Island was another stated reason. Half of the business owners responding also operated in one or more locations outside of Portsmouth.
- Regarding future plans, 26% of the respondents indicated that they planned to expand their businesses either at the same site or elsewhere in Portsmouth within the next five years. 42% of respondents indicated they would be expanding outside of Portsmouth. 32% indicated no plans to expand in the next five years. Regarding the labor supply in this area, the overall supply was considered fair to good (68%), as was the number of people available for employment (77%). The training/education of area people available for employment was considered only fair (90%).
- Enterprise Zone. A majority (66.7%) of the businesses located in the Portsmouth Economic Enterprise Zone have used the Employee Tax Credit benefit, while one-third (33.3%) have used the Tax Stabilization benefit. None have used the In Zone Resident Credit.
- PBA Membership. 73% of respondents are members of the Portsmouth Business Association, while 27% are not.
Download a complete summary of the data generated by this survey(PDF Document)