Business, Retention & Expansion
Business Retention and Expansion (BRE) is a proactive approach communities use to support the businesses they already have. Instead of focusing only on attracting new companies, BRE aims to understand the needs, challenges, and future plans of local businesses. Through conversations, surveys, or on-site visits and then connect them with the right resources, programs, or partners to help them grow. The goal is simple: keep local businesses strong, help them expand when possible, and make sure they feel supported, so they continue contributing to the local economy.
Process
The BRE process is a step-by-step approach that helps communities understand and support their local businesses. It usually starts with reaching out to businesses to schedule a conversation or visit. During these meetings, businesses share information, typically through a survey/interview, about their operations, challenges, workforce needs, and future plans. The team then reviews this feedback to identify common issues or opportunities. From there, they connect businesses with available supports, such as training programs, funding options, or partnerships and work with community partners to address broader challenges. The process is ongoing, with Valley REN providing continued support to help strengthen relationships with businesses and build a healthier, more resilient local economy.
Why should businesses participate?
Participating in the BRE process gives businesses a direct voice in shaping the programs and supports available in their community. By sharing their experiences, challenges, and future plans, businesses can get connected to helpful resources such as funding opportunities, training, or workforce support that they might not have known about. It also helps identify and address issues that may be slowing their growth. Ultimately, taking part ensures businesses needs are heard and helps create a stronger environment for their business to succeed.
Next Steps
If you’re interested in learning more about the Business Retention and Expansion (BRE) process or would like to participate, please reach out to BusinessNOW Navigator Adam Kemp. You can email him at businessNOW@valleyren.ca or call 902-678-2200. He can provide more information and guide you through the next steps.