The Lancaster & District Chamber of Commerce has met to discuss problems surrounding the demand and supply of commercial properties across the district.
The chamber says the aim of the meeting was to help create "a viable economic base for business development".
It comes after local businesses reported their growth is being supressed by the lack of good quality commercial office space, among other issues.
Some of the most pressing areas of discussion were the lack of expansion capacity for young companies wishing to expand and take on staff and high-quality office space. The chamber heard that often, these companies are faced with the decision of relocating their businesses to different cities or counties - consequently causing upheaval - not only to the local economy, but also to the employees and their families.
In addition, the lack of city-centre parking was cited as a big issue. The chamber hopes that could be resolved if the Canal Corridor development goes ahead- with their plans for up to 750 car spaces.
Currently, Lancaster City Council is undertaking an asset review which could free up some critical inner-city space, and also industrial land down near Heysham Port.
With the Council increasing the Economic Development budget substantially this year, it provides opportunities for both the private and public sector to work hand-in-hand to identify areas that need attention.
As such, the Chamber says it will compile a co-ordinated list of property demand and supply in the district to help both potential investors and developers and also tenants.