It seems simple, right? Interview a bunch of businesses, and then do what they told you to do. There! A Business Retention + Expansion (BR+E) project!
If only.
BR+E projects are complex, multi-stakeholder efforts with many moving parts. They need a strong foundation, good partnerships and a healthy dose of flexibility.
The Ontario Ministry of Agriculture, Food and Rural Affairs’ (OMAFRA) Business Retention and Expansion program (BR+E) is a structured, four-stage approach focused on ensuring that local businesses in rural communities survive and thrive.
When communities take on a BR+E project, they take meaningful steps towards retaining and expanding businesses by getting a clear understanding of issues facing local businesses and then capitalizing on opportunities.
As part of the program, OMAFRA offers comprehensive BR+E training to:
individuals who are interested in managing or coordinating a community level Business Retention and Expansion (BR+E) project.
economic development professionals who will be involved in the implementation of a BR+E project.
The results for the January 2018 – December 2018 roll up report are in! Insights from 11 BR+E projects across Ontario have been reviewed, and the key findings have been compiled in this infographic. For clients with ongoing BR+E Projects, the roll up offers a benchmark to measure the success of their own BR+E Project against the Provincial average. In comparison, clients who are interested in starting a project can use the roll up report to help identify an area of focus for their project.
Continuing with our series of blogs on the Ontario Ministry of Agriculture, Food and Rural Affairs’ Business Retention & Expansion (BR+E) Program, this blog will outline the and discuss stages 3 & 4 of the BR+E process.
Continuing with our series of blogs on the Ontario Ministry of Agriculture, Food and Rural Affairs’ Business Retention & Expansion (BR+E) Program, this blog will outline the first two stages of the BR+E process.
The four stages of the BR+E process are:
Preparation
Collect and Analyze
Develop Goals and Action Plans
Implement and Monitor
BR+E Stage I – Preparation
Step 1: Assess Community Readiness
Community leaders should work with a Provincial Staff Advisor to determine if BR+E is the right project for the community, and assess the community’s readiness for the project.
The most important thing a Business Retention & Expansion (BR+E) project does is build capacity. BR+E is strategically designed to take existing community resources and employ’s its community businesses to help them come together with a plan for the future. 1
A recent report from the Government of Canada studied the characteristics and performance of newly established businesses. On average, 96,000 new businesses entered the Canadian economy every year (2002-2014), representing about 9.4% (annual rate) of all Canadian firms.
This study is important for economic development officers (EDOs) undertaking business retention activities as it highlights how the Canadian economy functions, particularly the natural churn that occurs as businesses start, mature, and decline. Based on this research, EDOs should be able to determine ways to help increase the survival rates of businesses in your communities.
The results for the July 2016 – December 2017 roll up report are here! Over 1,100 businesses were surveyed across Ontario, and the key findings have been aggregated in an infographic. For clients with ongoing BR+E Projects, the roll up offers a benchmark to measure the success of their own BR+E Project against the Provincial average. In comparison, clients who are interested in starting a project can use the roll up report to help identify an area of focus for their project.
I was invited to present on Business Retention & Expansion at the recent International Economic Development Council annual conference in Toronto. The session explored common denominators for success and highlighted unique attributes of the Halifax Partnership, the Ontario and the British Columbia programs.
The Business Retention and Expansion (BR+E) program is a collaborative effort between government, community, and businesses that identifies opportunities to help businesses expand and, retain and create jobs. The program also encourages the implementation of agreed upon activities to achieve goals, and actions to improve the local business climate.
Three recent examples of completed BR+E projects are from the communities of:
The four stages of the BR+E process are:
