Business Retention and Expansion
Business Retention and Expansion (BRE) is focused on encouraging existing businesses to stay and grow in your community. It promotes business success and vitality through strengthening your connection with local business operators. A comprehensive BRE program is a critical component to fostering a healthy business climate and developing your business community.
In an urban or suburban setting, existing local businesses provide 80 per cent of jobs and investment; this reliance greatly increases in rural settings. Consider that it is significantly less expensive to keep and grow existing companies than to attract new ones.
BRE is a structured community-led process to gather information about the current business climate and implement an action plan to address issues.
As long-term success often depends on the capacity to build strong relationships and networks, BRE is an ongoing process and requires commitment to continuously address identified challenges.