BMC 335 - Business Retention and Expansion

Course Description

Business retention and expansion (BR&E) is a primary economic development strategy. BR&E supports and fosters the development and growth of the business community. The result of a strong BR&E strategy is a healthy and thriving business community which in turn provides a long term sustainable community foundation. Long-term BR&E programs are a means of connecting businesses with resources and opportunities that will improve their competitive position, market networks and ultimately their profitability.

Course Details

Course Learning Outcomes

By completion of this course, successful students will be able to:

• Explain the rationale for BR&E programs
• Identify options for BR&E programs such as Business Visitation Programs (BVPs), Import Replacement Programs (IRPs) and other BR&E programs based on the needs of your community
• Determining types and sources of data that support the selection and development of BR&E programs
• Examine a four-stage BVP process model
• Recognize the critical nature of ‘red flags,’ (issues or challenges to local businesses) and the need to respond
• Explore the concept of business incubation, entrepreneurism, and nurturing home-based businesses (HBBs)
• Examine the governments’ roles in BR&E programs and how to encourage a pro-business’ environment to support business
• Identify the tools and resources that can help economic developers support and sustain business
• Identify how to plan, establish and manage a BR&E program