Robust BR+E to Promote Strong Community Growth
You have long term goals to protect and promote the growth of your community. Knowing you’re helping to build a prosperous community where entrepreneurs feel supported and cared for is a great feeling. Helping to support small businesses in your community, whether they’re new or they’ve been around for years, is essential for economic growth and development. A strong business sector is the foundation for strong development in other sectors.
BR+E programs need to be comprehensive and regularly monitored to ensure no one in your community is falling through the cracks. New business and business expansion are the biggest providers of new jobs in smaller communities. More jobs in your community mean higher employment rates, more citizens able to purchase property and pay taxes, and more money injected into your economy.
Spotlight on Success: Empowered Communities
The town of Clinton, Ontario, experienced some pretty major setbacks a few years ago, on top of existing economic challenges. Two major fires caused damage to the downtown core, mom & pop businesses were starting to close as people retired, and there was a major workforce shortage. Existing businesses were also struggling to compete with big box and online retailers.
To stimulate growth in the economy Clinton ran a contest, offering a year of free rent in a downtown business space. Competitors had to attend a training program, and present a detailed business plan to a group of judges. Competitors thought there would only be one winner, but when the winners were announced they discovered that the community had managed to raise $60,000, enough for 5 businesses to be rent-free for a year. When open, these new businesses will support Clinton’s downtown revitalization efforts.
Temagami First Nation, located on Bear Island in Lake Temagami Ontario, contacted MDB Insight to create a community economic development strategic plan that aligned with their community interests. The plan has prompted successful business development projects in the region.
Monroe County, Michigan is located in a major logistics corridor. Monroe County contacted MDB Insight to help them develop a strategic economic development plan. MDB Insight crafted a plan that identified new business types that would be ideal for the area, existing opportunities for business expansion, and even recommendations for property development to appeal to businesses. The plan also included a whole regional revitalization plan for attracting more citizens and building a stronger local community.
MDB Insight has worked with communities all across Canada, and in several U.S. states, to identify and develop business retention and expansion strategies. We’ve helped many towns stop their diminishing populations and become thriving communities with positive economic growth. With these new strategies they continue to attract new businesses and residents.
MDB Insight’s Triage BR+E™
For a BR+E program to be successful it needs a few key things:
- Current data about the business community
- Someone who can understand, analyse, and interpret the data
- Someone who can take quick action to support businesses in need of support
On a broad level that’s time, resources, and expertise.
Most communities cannot afford to regularly interview businesses, crunch the numbers quickly, and respond to critical situations. That’s where we come in.
Our Triage BR+E™ platform delivers real-time data about your business community. It directly identifies businesses with critical needs, and offers suggestions for how to support them. It also delivers recommendations for attracting new business to your community, and identifies opportunities for growth.
The program is fast; it only takes 10 weeks. Surveys are precise and use methods that deliver proven and valuable results without the distraction of extraneous information. Questions are developed to measure the health of local businesses, and to predict challenges and opportunities on the horizon. The tool uses a three-step KPI-satisfaction analysis process that provides unique insight into the priorities of local businesses, and identifies what they need from the community to expand.
The best part is that Triage BR+E™ is just under $10,000, so you can guarantee you’ll help your community prosper without wasting taxpayer money.
Bolster the Economic Growth of Your Community with These Key Tips