2016 Business Retention and Expansion Survey

2016 Business Retention and Expansion Survey

The Schaumburg Business Association has teamed up with The Organizational Effectiveness Consulting Center at Roosevelt University, to analyze the current business environment of Schaumburg. The assessment tool being used is the Business Retention and Expansion Survey (BRE), which can be completed online. Your participation is crucial and will benefit the economic vitality of Schaumburg. 

We are looking for participation from senior executives to ensure data collected is an accurate representation of your business and its future plans.

We understand the importance of your time and have designed our survey to be as quick and concise as possible. All that is needed is 15 minutes of your time to complete this online survey. Your participation is vital and will benefit Schaumburg’s economy and community as a whole.

Click here to get started >>>>

The Schaumburg Business Association’s Business Retention and Expansion project objectives include:

  • Identifying the needs, concerns, and opportunities of existing Schaumburg Businesses in order for local action to be taken, in response to the businesses’ needs.

  • Learn of the future plans of the area’s local businesses with respect to expansion, relocation, and retention and assess where assistance can be provided.

  • Compare this year’s results to last year’s to identify if efforts are producing positive results and where effort needs to be focused.
  • Demonstrate Schaumburg’s pro-business attitude and develop an effective means of communication with local businesses.

Key findings from last year’s project include:

  • Growth: 53% of Businesses report organizational growth to be the greatest achievement in the last 5 years. No company reported a product declining and 57% report the primary product has growth potential. 90% of companies have introduced a new product or service in the last 5 years. 85% of companies report overall sales were increasing.

  • Expansion: 44% report an increase in merger, acquisition, and divestiture activity, 29% report buyout activities to be stable, and only 2% of companies report a decrease.

  • 40% of companies report low or no turnover and 25% reported turnover due to growth opportunities.

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