The Business Retention and Expansion (BR&E) initiative is community-based economic development tool that promotes job growth by helping community leaders identify and address barriers to survival and growth facing local businesses. The philosophy of BR&E is that existing businesses are the core of economic prosperity.
Successful BR&E programs have been established in over 100 jurisdictions across North America. In Newfoundland and Labrador, the Department of Innovation, Business and Rural Development (IBRD) led a program to implement 21 BR&E projects since 2001 in partnership with Human Resources and Skills Development Canada, the Atlantic Canada Opportunities Agency, regional economic development boards, chambers of commerce, municipalities, and industry associations.
Interviews with business owners by members of the community BR&E team are at the heart of this initiative. In this province, close to 1,600 businesses have been interviewed and several key business issues uncovered among companies. In addition to demonstrating a pro-business attitude and an appreciation of each firm's contribution to the community, the visits with business owners and the analysis of the interview results allowed community leaders to determine appropriate measures for enhancing the region's existing business base.
In the longer term, BR&E can make local businesses more competitive by evaluating and addressing their broader needs and concerns. Businesses that stay competitive are more likely to remain in the community and expand. This initiative builds on community economic development plans, while creating broad-based community coalitions to sustain long term business development efforts.
Or contact the IBRD office nearest you.