Why Implement a BR&E Programme?

The Business Retention & Expansion (BR&E) program serves as a management tool to help community partners contend with issues surrounding community revitalization. The BR&E process develops a framework for moving forward with community revitalization (with the main focus being on business retention and expansion). Development practitioners and studies indicate that a much greater economic impact can be achieved if communities focus and take care of existing businesses.

Some of the key reasons for approaching community revitalization in this way include:

• 40% - 90% of new jobs created come from existing businesses
• Existing businesses are the ones who have built your local/regional economy to the level of success it is today
• Attraction programs are unlikely to be successful if existing firms are not happy
• Less costly to retain an existing job than to attract a new businesses/jobs
• A means of establishing economic development priorities
• An opportunity for improved communication with the business community
• Immediate response to business issues and concerns
• Import replacement through existing businesses reduces economic leakage and increases local direct employment

Building relationships with the business community through a structured and systematic approach can lead to quick economic development wins as well as more effective economic development and planning strategies. BR&E is an economic development strategy that can be instrumental in strengthening relationships between the business sector and the community, while at the same time aiding in the development of a prosperous economy. Taking care of business makes common sense!