Business retention

What is business retention?

Business retention’s main goal is to provide assistance with issues that could force a company to fail or close, and to prevent companies from relocation to a new community. The main goal of business retention is to help businesses grow!

How does business retention work?

The first step is for the municipality to conduct a business visitation program. To determine who and where the needs of the businesses are, the municipality needs to have open communication with the business community.

A relationship is critical to having a healthy business retention ecosphere in the business community and the municipality.

What is business retention follow up?

Business retention follow-up activities benefit communities and local businesses. They strengthen connections with the business community and encourage open communication. Follow-up activities are important to ensure there is understanding of the changing challenges and opportunities that local businesses are facing.

Examples of activities are:

· Business speaker socials

· Business appreciation events

· Local business feature articles

· Business roundtables

· Local business connect breakfasts.

· Business walks

For additional information or questions, please contact our Economic Development Officer, Sandra McIntosh at 780-985-3604