Business Retention & Expansion Program
SHUSWAP BUSINESS OWNERS AND MANAGERS: TAKE OUR 2015 BUSINESS RETENTION AND EXPANSION PROGRAM SURVEY - CLICK HERE
Business Retention and Expansion (BRE) is a community-based economic development tool that is used to foster growth and maintain stability of local businesses. The main focus of BRE is to improve the competitiveness and resiliency of existing local businesses by assessing and addressing ongoing needs and concerns. Helping businesses stay competitive helps to maintain the viability of communities.
Shuswap Economic Development works strategically with local businesses to identify risks and examine barriers to business expansion, and implement targeted solutions. Helping existing businesses thrive supports our local economy – their success leads to additional local jobs, expanded local services and a reliable tax base, and also helps to attract new investment. Research has shown that up to 80% of job growth within a community is generated by existing business operation rather than new business ventures.
Business retention and expansion:
- contributes to the growth of the local economy through job creation, business growth, increased property assessment values, etc.
- aids in the gathering of strategic and local business information, which can help with effective strategic planning for economic development
- represents a more cost effective approach to economic development than the attraction of new businesses
- helps in the identification, development and implementation of actions to address urgent business issues
- acts as a business attraction strategy
- fosters the development of an improved local business climate
The Shuswap Economic Development Business Retention and Expansion program identifies challenges and develops targeted programs and support mechanisms to support local businesses.
- supports businesses at risk of downsizing or closure
- identifies opportunities for growth and expansion
- detects challenges and barriers that discourage a healthy business climate
- fosters relationships with business owners and business support services
Contact Shuswap Economic Development to:
- share your challenges and successes
- explore opportunities
- link to services and resources
- expand networks
- align strategies and policies
- obtain support in addressing a variety issues