A recent survey conducted by the Fort Dodge Small Business Task Force has revealed key challenges and opportunities facing local businesses.

To address these needs, the Task Force is launching a series of initiatives to provide support and resources.

The survey, conducted in partnership with the City of Fort Dodge, Iowa Central Community College, the Greater Fort Dodge Growth Alliance, and the Small Business Development Center (SBDC), gathered insights from businesses across 16 sectors. Key findings included:

Survey respondents: 52 percent of survey respondents were small businesses made up of one to 10 employees, representing a wide variety of industries.

Considering expansion: Segments with the highest percentages of businesses looking to expand include art/retail, professional services, agriculture/industrial, health and fitness, manufacturing and automotive.

Business growth: Segments seeing the most positive growth include finance/insurance, health and fitness, and professional services.

Workforce challenges: Many businesses struggled to attract and retain employees, particularly in specialized fields.

Economic pressures: Inflation and uncertainty had a significant impact on businesses.

Real estate concerns: Businesses raised issues about parking, taxes, and the availability of affordable spaces, especially downtown.

Small businesses are the backbone of our community, accounting for a staggering 99.3 percent of businesses across the state and employing nearly half of our state’s workforce. They contribute significantly to our local economy, support local causes, and create jobs.

The Small Business Task Force is committed to supporting these small businesses, especially those facing transition or closure, given how great of an impact they have on our region. By meeting monthly, the Task Force coordinates efforts to ensure that these businesses have access to the tools and resources needed. This includes providing guidance on succession planning, marketing, technology and other critical areas.

One such area, for example, is the topic of business transitioning. With an estimated 40 percent of small business owners being Baby Boomers, many businesses are facing the challenge of succession planning. As Baby Boomers retire en masse in the coming years, and businesses enter the “maturing” stage of their business life cycle, the Task Force aims to provide the support and resources needed for a smooth transition. It is committed to helping businesses not only create succession plans, but also develop contingency plans to address unexpected challenges. The goal is to assist businesses at all stages, from startup to transition, with the aim of preserving jobs, strengthening the community, and ensuring the continued success of Fort Dodge’s small business sector.

Small Business Task Force action plan

In response to the survey, the Small Business Task Force has developed a multi-step action plan:

Informational sessions: Two sessions will be held on Oct. 29 to introduce businesses to local resources and organizations.

Quarterly workshops: Targeted workshops will address specific challenges identified in the survey.

Ongoing support: The Task Force will continue to meet monthly to coordinate efforts and provide support.

“Our goal is to create a thriving environment for businesses of all sizes,” said Dawn Larson, economic development specialist for the city of Fort Dodge. “By offering targeted support and resources, we can help local businesses overcome challenges and achieve their goals.”

Call to action: Businesses are encouraged to register for the informational sessions on Oct. 29. These sessions will provide valuable insights into local resources and organizations available to support businesses at all stages, from startup to transition. The sessions will be held at the Greater Fort Dodge Growth Alliance, from 7:30 to 9 a.m. and 5 to 6:30 p.m., to accommodate various schedules. To register please visit https://tinyurl.com/FortDodgeSBTF.

If you are not able to attend one of the workshops and would like business assistance, please contact one of the Business Task Force members

They are:

• Jefferson Fosbender, economic development director, Greater Fort Dodge Growth Alliance, at jefferson@greaterfortdodgeiowa.com or 515-227-7124.

• Kirsten Case Fuller. regional director, Small Business Development Center, at case_k@iowacentral.edu or 515-574-1997.

• Shelly Blunk, dean of economic development and continuing education, Iowa Central Community College, at blunk@iowacentral.edu or 515-574-1901.

• Dawn Larson, economic development specialist, city of Fort Dodge, at dlarson@fortdodgeiowa.org or 515-576-4551, extension 1241.