Let’s do some BRE benchmarking. As a business retention/expansion executive, you probably know what your job is on a daily basis – the mission/purpose of your role, your part of the economic development organization. But what are the big picture long-term goals and objectives?
It’s easier to achieve a goal, if you’ve effectively identified the goal, planned the process, and measured progress. Noted below are Objectives/Purposes/Goals taken from three BRE planning documents. Compare your organization to these samples:
Hugo Business Retention and Expansion Research Report
- To demonstrate support for local businesses
- To help solve immediate business concerns
- To increase local businesses’ ability to compete in the global economy
- To establish and implement a strategic plan for economic development
- To build community capacity to sustain growth and development
Entergy Business Retention and Expansion Guide
- To demonstrate to existing firms that the community appreciates their contribution to the local economy
- To encourage expansion that leads to sustainable job growth
- To help businesses solve their problems and challenges
- To assist local businesses in gaining awareness of available resources
- To develop collaborative relationships for participating in comprehensive long-range retention and expansion activities
- To build the community capacity and cooperation to sustain growth and development activities
- To provide better information and understanding for all local leaders of the strengths and weaknesses of the business climate
City of Shoreview Business Retention and Expansion Strategic Plan
- Support business development that increases the tax base and adds quality jobs
- Retain quality businesses by creating a positive economic environment that supports and fosters business expansion in the community
- Plan for and pursue redevelopment opportunities consistent with City goals
- Promote reinvestment in the community by directing time and financial resources to pre-determined business and neighborhood targets
- Strive to meet the needs and demands of the community for specific services
Where are the gaps in your organization’s goals that you need to fill based on what these other BRE programs emphasize. How will you plan (strategically) the process to achieve the goals? How will you measure your progression toward the goals?
Make sure your BRE program isn’t simply about making visits and resolving issues. There’s got to be a strategic component. There’s got to be ongoing research on the clients even when you are not face-to-face with them. There’s got to be the goal, the long-term plan, and the measurements of progress.
Give your BRE Plan a check-up.
Learn more about keeping up-to-date on your local businesses at http://brebuzz.com/
