Executive Confidence Continues to Rise
Economic Development Regina – REGINA – Once again the Executive Confidence Index rose to a record all-time high of 2.60, which is 30 points above the historical average. The index is measured every quarter as part of the Regina Executive Leadership Outlook (RELO). These results paint a clear picture that executives are increasingly confident in the future economy of the Greater Regina Area (GRA).
“It is encouraging to see that confidence in the current and future economy remains high,” said Valerie Sluth, Managing Principal at Praxis Consulting. “The continued and long-term optimism among GRA executives speaks to the resilience of our business community. Our diverse and balanced industry mix continues as an ongoing critical success factor to our overall economic performance.”
With optimism abound, GRA’s business executives’ confidence in the current economy rose by 19 points to 2.44. This is an increase of 10 points from the previous high, Q3 – 2017.
The future is also looking bright with 43.2% of respondents believing the economy will perform better in the next 12 months, and nearly half (48.7%) believing the current economy is performing better compared to one year ago. In addition, 58.3% of business executives expect to employ more people in the next year.
“In true Prairie spirit, the GRA business community has rallied to overcome less-than-favourable economic conditions in order to grow. The results of the latest survey – particularly in terms of future employment opportunities – are especially encouraging. As our collective confidence grows, so too does our hiring and spending,” said Aimee Schulhauser, Founder and Owner of Schoolhaus Culinary Arts, Tangerine: the Food Bar, and Evolution Catering.
This edition of RELO also asked participants to identify what are their short and long-term priorities for the new Premier and Leader of the Opposition. Nearly half of respondents (43.2%) believed that supporting entrepreneurs should be top long-term priority for provincial leadership. The support and development of new entrepreneurs, and supporting value-added agriculture were listed as immediate short-term priorities.
“With so much excitement recently with the Protein Industries Canada supercluster announcement, and launch of the Audacity YQR movement for entrepreneurs, these priorities are their successes are indicative of our transformation as a city,” said David Froh, Vice President at Economic Development Regina. “With continued support and attention towards supporting entrepreneurs and diversifying the economy, we will continue see business confidence and job creation.”
Regina executives are feeling confidence, and with that position of strength a desire to support and enhance additional important sectors of the GRA. With continued vision and support for new initiatives the GRA will continue to be a location of opportunity and success into the future.
The full report can be accessed at: https://economicdevelopmentregina.com/economic-data/leadership-outlook
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About the Regina Executive Leadership Outlook
Commencing in 2015, the Regina Executive Leadership Outlook (RELO) is a partnership between Economic Development Regina Inc. (EDR) and Praxis Consulting that provides the perspective and thought leadership of Regina’s key business leaders about current and future prospects for the Regina economy on a quarterly basis. For EDR, RELO is more than simply taking the pulse of our community; it informs our strategy by encouraging our community leaders to ‘Think Big’. Partnerships, like the one EDR shares with Praxis Consulting are an ideal way to identify the changes required to take Regina from good to great. RELO is one of many tools used by EDR to shape and confirm EDR’s Sector Strategy and its vision of a Regina that is home to 300,000 people and an economy that will create 50,000 new jobs by 2040.
About Economic Development Regina (www.economicdevelopmentregina.com)
Economic Development Regina Inc. (EDR) is the economic development agency for the Greater Regina Area (GRA). EDR is a not for profit economic development corporation, governed by a volunteer board of directors. EDR provides leadership to the community to support industry growth and diversification through retention and expansion of existing business and encouraging investment, development of industry and tourism. In collaboration with key stakeholders, we work to identify, develop and promote opportunities that advance economic prosperity and ensure the Greater Regina Area offers a vibrant and diversified economy for investors, is a positive destination experience for visitors and offers a high quality of life for residents.
About Praxis Consulting (www.praxis-consulting.ca)
Praxis Consulting is Saskatchewan’s largest locally-based management consulting firm.
Praxis works collaboratively with clients in the facilitation of growth and excellence. Leveraging an unmatched wealth of experience across multiple sectors, Praxis adds value to their clients through:
- Research: Information gathering and data analytics.
- Strategy: Thought-leadership, rigorous planning, and pragmatic strategies.
- Results: Cascading strategy and culture within the organization.