Business in Lake County has been impacted by the economic forces affecting our state, the nation and the global economy.
The cost factors affecting business in this county are no different than most areas of the state, but beyond the cost of running a successful business, is the fundamental question of whether or not potential customers can afford the products and services offered by our businesses.
The overall impact on business has been exacerbated by the damage done to worker income levels, affecting the average wage earner's capacity to afford many of the fundamentals of a decent standard of living. Retirement planning, housing values, health care costs, and family education expenses are all placing pressure on disposable income. In addition, the lower availability of credit to assist in buying or improving homes, financing the purchase of cars and trucks, or getting families through temporary emergency situations, such as an illness or accident, is tending to compound those financial pressures.
A business lives or dies based upon the ability of the marketplace to support its offerings. An understanding of the demographics of the marketplace is the key to developing the right operating model for any business. Without a dynamic, flexible and responsive operating model, the business is doomed to mediocrity or failure.
B. What Should Be the County's Role in Business?:
-A resource for demographic information business can use to understand the local marketplace
-A working partner cooperating reasonably with business to provide a positive market-oriented operating atmosphere
-Proactively identify and promote reasons to conduct business in Lake County
-A cooperative supporter in accessing appropriate business-related state and federal funding or grants
-A facilitator of business partnership development--between individual businesses and between business and government--with the goal of serving the public interest
-A provider of well-maintained basic public service infrastructure conducive to business development
-Work with cities in governmental partnerships to bolster existing businesses, and recruit new soundly-based business ventures
-Establish a regular and timely method of communicating with the business community, and encourage active and open debate on business concerns
