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SmartBusiness, our business retention and expansion initiative, is the backbone of the Partnership and the pulse of Greater Halifax’s business community. We developed SmartBusiness to help small, medium and large businesses from all over Greater Halifax and to ensure they succeed and prosper in our city. This presentation was given at the BREI Annual Conference 2010 in New Orleans, Lousiana.
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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