Business Retention and Expansion (BR+E) is a structured action-oriented, community-based approach to business and economic development. It promotes job growth by helping communities learn about issues as well as opportunities for local businesses and sets priorities for initiatives to address their needs.
It is important to recognize that few communities can do everything they would like to in order to support existing businesses. The BR+E program helps communities to identify their priorities.
The BR+E program uses trained volunteers to visit businesses and conduct confidential interviews with the senior level management, owners or managers. Data analysis and action planning is then undertaken to address issues and opportunities.
Specific BR+E project goals may vary from community to community, and could include:
Short-term goals of BR+E
- Build and improve relations with existing businesses
- Build capacity within the community and strengthen relationships between organizations
- Identify the positive and challenging attributes of the community as a place to do business
- Identify and address immediate concerns and issues of individual businesses through an assessment and referral process
- Collect business and market data to support economic development planning
- Establish and implement a strategic action plan to support existing businesses
Long-term goals for BR+E
- Increase the competitiveness of existing businesses
- Enable business development, investment and job creation
- Foster and enhance the environment for business development
To learn more about the Lake Country study visit www.lcbre.ca