Laserfiche WebLink
Finally, businesses report Hugo as a <br />good place to live. On a scale of 1 to 5, <br />5 being "excellent" and 1 being "poor", <br />the average response to the question <br />"What is your overall opinion of Hugo as <br />a place to live" was 4.16. A similar <br />question, "What is your overall opinion <br />of Hugo as a place to conduct business" <br />earned an average of 3.79. <br />Overview of BR&E Projects for <br />Hugo <br />Profits are the key to the retention and <br />expansion of firms. While the owners of <br />a business might be attracted to a place <br />because it is a nice place to live or raise <br />a family, a business can only survive if it <br />makes a profit. The same is the case <br />for businesses that start in the <br />community. The owners may be loyal to <br />the community, but if they cannot make <br />their business profitable they will close <br />or move it; they do not have a choice. <br />In a market economy, making a profit is <br />the responsibility of business <br />management and its employees, not <br />community groups, local or state <br />governments. However, the actions of <br />these groups can sometimes help <br />businesses become slightly more <br />profitable. The priority projects outlined <br />below are aimed at helping businesses <br />become more profitable and thus be <br />able to survive and grow in the <br />community. <br />Hugo BR&E Priority Projects <br />The following four priority projects were <br />selected at the Task Force retreat held <br />in Hugo on February 8, 2010. <br />1. Market the City of Hugo <br />2. Create, Coordinate, and Encourage <br />Events <br />3. Host Business and Breakfast <br />Workshop(s) <br />4. Address Highway 61 Access Issues <br />and Improve Downtown Hugo <br />Priority Project #1: Market the <br />City of Hugo <br />Increased exposure can help <br />businesses generate profits. Exposure <br />to consumers, to other businesses, and <br />to new business opportunities, for <br />example, can all provide businesses <br />with avenues to generate more revenue <br />and greater profit. For some <br />businesses, the highest priority is direct <br />exposure, through advertising or <br />promotion, to the individual consumer. <br />For other businesses, it's paramount to <br />gain exposure to other businesses that <br />may present an opportunity for <br />business -to -business sales. Hugo <br />businesses could profit from greater <br />exposure of the City of Hugo itself. <br />Related Survey Results <br />Businesses in Hugo value small town <br />atmosphere and charm. When asked to <br />rate from a list of community features <br />which features have a positive impact, <br />no impact, or a negative impact on their <br />business, Hugo businesses awarded <br />"small town atmosphere" an average of <br />1.34 (2.0 = very positive impact; 0 = <br />neutral), making it the most highly rated <br />community feature. "Freeway access" <br />(1.13) and "festivals and events" (0.79) <br />rounded out the top three community <br />features. None of the eighteen features <br />received a negative score. <br />Project Plans from the Committee: <br />This project is based on several <br />potential marking strategies that all <br />relate to the City of Hugo and its <br />businesses. Each item falls under an <br />idea for a marketing plan for the City <br />©2010 Regents of the University of Minnesota. All rights reserved. <br />7 <br />