Business Retention & Expansion (BRE)

Robyn WebbGreater Halifax Partnership

August 2010

OUTLINE

What… is Smartbusiness?

Why….Do Smartbusiness?

Who…Should Be Involved?

Where…Do you Start?

How…Do You operate, resource, report, benchmark, adjust & measure success?

GREATER HALIFAX PARTNERSHIP

• Catalyst for economic growth and confidence

• Provide deep insight into emerging trends and changing needs

• Mobilize resources to accelerate economic growth

• Public/Private partnership 130 private sector investors 3 levels of government:

–Federal–Provincial–Municipal

What… is Smartbusiness?

WHAT? • The Greater Halifax Partnership’s business retention and

expansion initiative

WHY? • To work with employers to overcome challenges and seize

opportunities while establishing the most competitive business climate in Canada.

HOW?• Account Executives go face to face with CEOs and Local

Managers. • Real-time problem solving• Constant business climate improvement

SMARTBUSINESS

• Designed to strengthen our ability to:• keep,• grow, and• attract businesses in Halifax

• SmartBusiness is the way we discover challenges and opportunities to grow

• Customized diagnostic tool

• Executive Pulse database is a highly effective tool for economic development

SMARTBUSINESS (cont..)

Why….Do Smartbusiness?

10. Mutual awareness, business and government

9. Identify concerns and opportunities

8. Refine policies to improve the business climate

7. Prevent overlap and duplication

6. Cost-effective business development

10 REASONS TO DO SMARTBUSINESS

5. Increase incomes, employment, and opportunity

4. Identify potential changes in structures :mergers, acquisition, consolidations, restructuring, relocations

3. Up to 80% of new jobs come from existing companies

2. Show business they are important

1. Other places are doing Business Retention & Expansion!

Who…Should Be Involved?

Area that include:• Expanding a business

• Exporting

• Financial Assistance

• Networking groups

• Recruitment and Retention

Criteria for Involvement:• Who can solve problems

• Who is causing problems

• Who cares about the problems

WHO SHOULD BE INVOLVED?

• Government

• Immigration

• Municipal assistance

• Product or technology

• Workforce Development

• Leveraging the IP of 33 organizations on the Action Team

• Resources already in the community– Recruiting skilled workers– Staff training– Exporting– Financing– Business location/re-location– Assistance with local government

COLLABORATIVE APPROACH

• Agriculture and Agri-Food Canada

• Atlantic Canada Opportunities Agency

• Black Business Initiative• Blue Water Business

Development Corporation• Business Development Bank of

Canada• Canada/Nova Scotia Business

Development Centre• Centre for Entrepreneurship

Education and Development• Centre for Women in Business at

MSVU

• Credit Union Atlantic• Dalhousie University

Career Centre• Destination Halifax• Eco-Efficiency Centre, Dalhousie

University• Entrepreneurs Forum• Export Development Canada• Foreign Affairs & International

Trade Canada • Halifax Chamber of Commerce• Halifax Regional Municipality

ACTION TEAM

• iNOVA Credit Union• Metropolitan Immigrant

Settlement Association• MSVU-Career Planning Centre• Nova Scotia Business Inc.• Nova Scotia Community

College• Nova Scotia Department of

Labour and Workforce Development

• Nova Scotia Economic Development

• Nova Scotia Economic Development-Procurement

• Nova Scotia Office Of Immigration• Nova Scotia Power Inc.• Saint Mary’s University

Business Development Centre• Saint Mary’s University Executive

& Professional Training• Saint Mary’s University

Student Employment Centre• Service Nova Scotia and Municipal

Relations Export Development Canada

Where…Do you Start?

SET PRIORITIES:

Meet face to face with CEO

Keep Existing Businesses

Uncover challenges and opportunities

Real-time problem solving

Better local business climate

DO YOUR RESEARCH:

Consult with successful community programsCities, Provinces, States

Develop diagnostic tool

Identify target companiesSize, Sector, Growth

Structure resolution process

How…Do You…operate?

How…Do You…operate, resource, report, benchmark, adjust & measure

success?

PROGRAM STAFFING

• Outreach personnel– Sales function– Consistent, proactive approach– Knowledge of economy and action network– Training!!!!

• In-house support– Business development– Research – Marketing and communications

How…Do You…operate?

ImprovedPR

Investment attraction

leads

Action Team referrals

Employerinformation

requests

Identify high risk

firms

Companyspecificissues

Measuredimpacts

Businessexpansion

leads

• Customer service department• Ready to respond• Resources already in community• Selected based on customer needs• Identified point person for each

service provider organisation• Information sharing• Track referrals and outcomes

BUILD AN ACTION TEAM

Company Visit

Funders

Company Specific Issues

Action Team

GHP

Company Common Issues

Stakeholders

Governments

Media

How…Do You…resource?

HOW DO YOU RESOURCE?

MARKETING AND BRANDING

• Generates awareness– Speaks directly to customers – the wealth and

job creators• Lends credibility

– Gets you in the door with decision makers• Builds community confidence

– Publicizing success stories promotes local employers and Action Team while positioning community as business-friendly

HOW DO YOU REPORT?

How…Do You…report?

21%

8%

10%

7%5%5%

4%3%

3%

22%

12%

Expanding a business

Exporting

Financial assistance

Municipal assistance

Networking opportunities

Product or technology developmentProvincial government

Tax Minimization StrategiesRecruitment and Retention

Immigration

Workforce dvelopment

SMARTBUSINESS REFERRALS: APRIL 1, 2009 TO MARCH 31, 2010

REFERRAL

Systemic Issues

Measure perceptions of local economy

Measure cost of no action

Engage key partners

Benchmark municipal services

Benchmark climate factors

Influence policy and programs

Tackle widespread concerns

BUSINESS RETENTION AND EXPANSION-AWARDS

• Economic Developers Association of Canada– Best Program of 2006 in Canada

• Business Retention and Expansion International– Best Business Retention and

Expansion Program in North America of 2005

HOW DO YOU BENCHMARK?

RESULTS

Quantitative• 4900 jobs created or retained• 1800 visitations• 900 problems resolved • 90% Closed referral files Qualitative

• Saying thanks• Business service• Value to community

HOW DO YOU ADJUST?

Identified companies at risk and convinced them of the Greater Halifax value proposition

Helped companies meet workforce challenges

Facilitated new contracts, R&D assistance, and other assistance that directly contribute to a company’s bottom line.

SmartBusiness has…

HOW DO YOU MEASURE SUCCESS?

D.R.H. Canvas & Marine

Issue:• Operating Costs challenges

Action• The Smartbusiness team contacted Nova Scotia

Power on behalf of. D.R.H. Canvas & Marine  

Result• D.R.H. worked with NSPI’s recommendations and

saw significant savings as a result  

SMARTBUSINESS SUCCESS STORIES

QuickSnap Inc.

Issue• Wanted to explore sales prospects in new marketsAction• Referred the company to Nova Scotia Business Inc. (NSBI)

to discuss exporting and upcoming trade missionsResult• QuickSnap participated in an NSBI trade mission to Florida• Negotiated with Disney as well as with Champs Sports' 600

US retail outlets

SUCCESS STORY

Neocon International

Issue:• Accessing Research &Development IncentivesAction• The Greater Halifax Partnership put the company in touch

with the Business Development Bank of Canada Scientific Research & Experimental Development

(SR&ED) program Result• Neocon was successful in receiving a significant tax credit

SUCCESS STORY

MacTara Limited

Issue• Layoff of 100 workersAction• Co-chaired a Transition Team that supported employees affected

by the layoffsResult• Enligna AG, bought MacTara Limited.

The new owners hired 60 former MacTara employees • the remaining workers were linked to other job opportunities

SUCCESS STORY

Time & Space Media

Issue• Challenges with utility providersAction• The Greater Halifax Partnership connected the company

with a representative from Nova Scotia PowerResult• The power lines were moved the next day.

SUCCESS STORY

I.M.P. Aerospace

Issue• Challenges recruiting skilled labour in Halifax:

understanding the process for international recruitment from an immigration perspective

Action• Referred to the Nova Scotia Office of Immigration on behalf of I.M.P.

AerospaceResult• The Office of Immigration assisted I.M.P. in determining the best

way to bring chosen candidates to work in Halifax after the job fairs

SUCCESS STORY

• Communicate results• Service customers proactively• Build lasting partnerships• Create brand awareness• Don’t duplicate• Use current technology

SUSTAINABILITY