Survey of Charles County Business Community reveals Satisfaction and Optimism

(La Plata, MD) Business leaders who operate companies in Charles County, Maryland are satisfied with their location and optimistic about the future, according to a recent survey conducted for the Charles County Economic Development Commission (CCEDC). The survey is part of a larger, on-going Target Industry Study conducted by the Center for Regional Analysis from George Mason University.

A web-based survey of businesses in Charles County was implemented to assess the local business environment and expectations of local business leaders. The survey took place from mid-March through late April of this year, using SurveyPro NetCollect software of the Apian Corporation. Of the 110 surveys completed, over two-thirds of the respondents were the owners or Chief Executive Officers of their companies. Another 13 percent were senior managers.

Regarding business performance and outlook, 71 percent of respondents have experienced revenue growth in the last two years, with almost half – 44.9 percent – reporting growth of over ten percent. A higher percentage – 26.5 percent – expect revenues to remain the same for 2004, while 64.3 percent anticipate revenue growth this year. The long term outlook is extremely optimistic, with 87.7 percent of Charles County businesses expecting revenue growth in the next 3 to 5 years.

As was expected, the number one reason that respondents gave for locating their businesses in Charles County was because they live here. After that, “access to markets” and “lower operating costs” were the second and third most often selected reasons. 61.6% feel that being part of the Washington DC metro is a business benefit.

Satisfaction with their Charles County location was high. Seventy-seven percent responded that they are either very satisfied or somewhat satisfied with doing business in Charles County. 81.8 percent are satisfied with their current locations in the county.