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