LAKE TAHOE, Calif./Nev. – The results of a Lake Tahoe Basin-wide Business Walk Survey coordinated in October 2024 by the nonprofit Tahoe Prosperity Center in collaboration with 15 regional business associations, chambers of commerce, and local government partners are now available. The insights will be used to inform future initiatives and partnerships aimed at addressing the region’s challenges.

Over the course of three days, 64 volunteers canvassed 700 small businesses, generating responses from over 400 businesses through in-person and online surveys.

“The business walk survey provides insight into a specific ‘moment in time’ as it relates to how things are going in the regional economy,” said Heidi Hill Drum, Tahoe Prosperity Center executive director. “This snapshot of information can be very useful in understanding what is working or not working in the region, ultimately helping elected officials and leaders make informed decisions that impact local small businesses.”

Top business challenges identified in the 2024 Business Walk Survey include:

• Housing affordability: this was the top concern noted by more than half of all businesses, despite many businesses reporting they are stable or growing.
• Infrastructure challenges: the need for transportation improvements, employee housing and broadband topped the list of major roadblocks to local small businesses.
• Workforce development, training and recruitment: developing a skilled workforce to meet the demands of the local economy was cited as crucial to small business success, and businesses are seeking solutions to address this gap.

Nearly 70% of small businesses also reported that tourism is critical to the regional economy and the overall health of local businesses. Despite the challenges businesses face, most local business owners reported having a positive outlook regarding the economy, though there are concerns about economic challenges including rising costs, decreased revenue, and increased competition.

“I really appreciate the efforts of all the organizations involved in conducting the business walk. The data collected will be invaluable in helping local governments and business advocates identify opportunities to collaborate and strengthen the Tahoe economy,” said Tamara Wallace, City of South Lake Tahoe Mayor.

“We were pleased to see that some of the projects and programming that the North Tahoe Chamber and the North Tahoe Community Alliance have initiated support the results,” said Kimberly Brown, North Tahoe Chamber executive director. “We look forward to incorporating this feedback in the ongoing update to our roadmap between the Chamber and Business Associations so that we can continue to directly support the needs of our business community.”

The full report is available here.