County Survey Highlights Key Challenges and Resilience of Businesses

Published on January 13, 2025

A survey in the fall of local businesses in Los Alamos County reveals both resilience and significant challenges facing the community’s business sector. Open from August 14 to September 30, 2024, the survey gathered 48 responses. The findings highlight a combination of economic pressures, staffing difficulties, and infrastructure concerns that businesses must navigate to sustain and grow.

Business Outlook and Expansion Plans

The survey indicates 33% of businesses expect to expand in the coming year, while 46% foresee maintaining their current operations. However, a small portion of businesses are concerned about the future, with 8% predicting a slowdown in activity and 2% considering closure.

Major Challenges for Local Businesses

Rising costs and inflation are the primary concerns, with more than 46% of businesses citing increased product costs as a major or moderate issue. Staffing remains another significant hurdle, as 44% of businesses report difficulties in hiring and retaining employees. Additionally, 25% of respondents are struggling to find affordable and suitable commercial spaces, while 38% point to the lack of affordable housing as a major barrier for their workforce.

Financial and Operational Adjustments

While 50% of businesses have made no changes to their operations, 15% have adjusted by reducing hours or suspending employee bonuses. Additionally, 13% of businesses are considering relocation due to high operational costs and other challenges within the county.

Current Strategies to Overcome Challenges

In response to these obstacles, businesses are turning to various strategies. Nearly half (48%) are utilizing social media platforms for promotional efforts, while 35% are collaborating with other local businesses to brainstorm solutions. However, only 19% of businesses are pursuing state or national funding to offset losses.

Training and Professional Development Needs

When asked about professional development needs, businesses indicated a need for training in administration (33%), marketing (27%), and financial management (25%). This highlights the ongoing desire for growth and improvement, despite the challenges being faced.

Feedback on County Support

The survey gathered feedback on what businesses believe could be done to help alleviate some of these issues. Respondents requested more streamlined permitting processes, incentives for affordable commercial spaces, and improved communication regarding construction projects.

Conclusion

These survey results underscore the resilience of Los Alamos County businesses but also reveal critical barriers related to affordability, infrastructure, and staffing. Addressing these issues moving forward will require support and collaboration between local businesses and government agencies to foster sustainable growth and ensure long-term prosperity of the county's economy.