Truckee Chamber's Economic Vitality & Workforce Development Committee's Business Landscape Study
October 25, 2023
The Truckee Chamber of Commerce is undertaking a Business Landscape Study of the Town of Truckee. This comprehensive study of the businesses operating within a community serves several critical purposes that can significantly benefit the local economy, the community and the Chamber itself.
Understanding the Business Ecosystem: By conducting a Business Landscape Study, the Chamber gains insights into the diverse array of businesses that exist within the Town of Truckee. This understanding goes beyond just the names of businesses; it delves into the types of industries, their sizes, and their operational dynamics. This knowledge forms the foundation for effective decision-making and resource allocation.
Tailoring Support Services: Armed with a comprehensive database of businesses, the Chamber can tailor its businesses success programs to meet the specific needs of the local business community. For example, it can offer targeted workshops, networking events, or other programs that cater to the unique challenges and opportunities within various industries.
Economic Development Planning: An accurate database of industries within the community enables the Chamber to engage in long-term economic development planning. It helps identify growth sectors, potential areas for investment, and strategies to diversify the local economy.
Advocacy and Policy Formation: A clear understanding of the local business landscape empowers the Chamber to advocate for policies and initiatives that support the growth and prosperity of existing businesses. It allows the Chamber to represent the interests of the business community effectively when engaging with local government and other stakeholders.
Promoting Collaboration: The Business Landscape Study can also serve as a catalyst for collaboration within the local business community. When businesses know more about each other, they are more likely to identify opportunities for collaboration.
Resource Allocation: The data gathered from the study helps the Chamber allocate its resources efficiently. It can direct its efforts and investments towards areas with the greatest potential for economic impact, thereby maximizing its effectiveness in supporting the local business community.
The Business Landscape Study is a strategic initiative that empowers the Chamber of Commerce to be more effective in its mission of supporting local businesses and fostering economic growth. It provides essential insights into the community’s economic makeup, enabling the Chamber to tailor its services, advocacy, and planning to meet the evolving needs of its business members and the broader community.
Collecting the Data
Creating a systematic process for collecting data for a Business Landscape Study is crucial for obtaining accurate and comprehensive information about the businesses operating in the Town of Truckee. Below are the steps that the Truckee Chamber will take to complete this study in a six month time frame.
Step 1: Define Study Objectives and Scope
Clearly outline the objectives of the Business Landscape Study. What specific information are you looking to gather? Consider aspects such as industry types, business sizes, location distribution, and any additional relevant data.
Step 2: Establish a Project Team
A working group will be formed from the Economic Vitality & Workforce Development Committee who will be responsible for designing, implementing, and managing the study. The team will be led by the Truckee Chamber of Commerce President & CEO.
Step 3: Data Collection Methods and Tools
Determine the methods and tools you will use for data collection. Options may include surveys, interviews, data scraping from public records, and web research. The Truckee Chamber will research using programs such as mysidewalk to help with the data collection.
Step 4: Develop Data Collection Tools
Create survey questionnaires, interview protocols, or data extraction templates tailored to the study’s objectives. Ensure that questions are clear, concise, and relevant to the information you need. The working group will work together to figure out the best methods for collecting business data.
Step 5: Identify and Contact Businesses
Build a list of businesses operating in the Town of Truckee. This will be compiled from existing Chamber of Commerce records, public business directories, government database and boots on the ground work.
Where possible we will also establish a contact list for business owners, managers, or designated representatives.
Step 6: Report out
Share the results of the Business Landscape Study with the Chamber of Commerce members, local government officials, and other stakeholders.
Consider hosting a presentation or workshop to discuss findings and solicit feedback.
Collecting that data is just the start of the process. Once the business landscape study is complete the Truckee Chamber will undergo a second process to analyze the data and create an action plan around how to use the new information.
Data Collection: October – March
Data Analysis: March – April
Report to Town Council: May
Action Plan: May – June