Business Retention and Expansion

Leaf
 

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BR+E

In 2007, the County of Perth launched a two phased BR+E project. Phase I saw the Retail and Business sector surveyed in 2007; the Manufacturing, Industrial and Trades sector were surveyed in 2008 in Phase II for a total of 287 business participants. The purpose of the project was to capture a picture of the economic climate of Perth County and to determine the issues and obstacles faced by businesses in all sectors.

Short term objectives included:
• To provide community support for local businesses
• To identify and address immediate business concerns.

Long term objectives included:
• To increase the competitiveness of local businesses
• To establish an Economic Development Strategic Action Plan
• To increase business growth and job creation
• To increase community capacity

There were surprisingly many similarities between the two projects:

  1. Work force development issues were common to both . For example more than 75% of all businesses in both groups ranked the availability of labour as Very Important in ensuring their competitiveness – skilled labour in particular.
  2. Training and business support was identified as a key impediment to business growth.
  3. Communications was identified as a key issue. Most businesses were unaware of economic development initiatives in their municipality or County.
  4. Future plans were a positive indicator for all sectors. The vast majority of businesses indicated plans to expand, which will affect an increase in the workforce.
  5. The challenges for expansion were largely based on financing and availability of labour.

Phase I of the report was the catalyst leading to the establishment of an Economic Development
Division to serve its member municipalities. This division was created in July of 2008.