According to the Launceston Chamber of Commerce's The Pulse weekly survey of stakeholders, only 36 per cent of participants experienced a boost to their business during Mona Foma.

This is versus 46 per cent who said they didn't; 18 per cent were undecided.

Chamber of Commerce chief executive Neil Grose said not all businesses can be expected to see a direct benefit from the festival due to their trade.

"Others [businesses] weren't fully aware of how they might leverage their operations to take advantage of the increased numbers or what the increased numbers of people might actually mean for their business," he said.

"Those that did take full advantage of the week-long activities of Mona Foma have reported excellent trading."

The Pulse survey also asked participants if they'd like to see further integration between businesses and Mona Foma going forward - 57 per cent said yes.

"The key to maximising the positive impact on business for businesses participating in Mona Foma is communication," Mr Grose said.

"Having a structure where visitors know who is open, what they do and where they are is critical to ensuring that business reaps the full benefit."

Mona Foma, Tourism Northern Tasmania and Cityprom reached out to businesses in August last year to encourage participation in the festival.

Businesses were informed of the festival's wayfinding map - a free system that helped festival-goers locate their business.

Businesses that signed up to the map also received branded collateral for the facade of their store.