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Small businesses are the driving force in today’s economy, especially in downtowns. According to the Small Business Administration (SBA), there are 28 million small businesses in the U.S. which account for 54% of all U.S. sales. Additionally, small businesses provide 55% of all jobs and 66% of net new jobs since the 1970s (https://www.sba.gov/content/small-business-trends-impact). Therefore, it’s critical for all communities and downtowns to have a business retention and expansion (BRE) plan in place to help local small businesses, providing them with opportunities to be successful. After all, small businesses help increase the number of local jobs, preserve or increase the local tax base, increase property values, enhance the community’s image, increase consumer confidence, and diversify the local economy.
It is easier and cheaper to keep an existing business than it is to replace one. A business retention and expansion plan, properly implemented, not only helps keep businesses open but possibly even helps them expand. For local governments, think of the sales and property tax lost by having a vacant building. For Main Street practitioners, think of the image of what an empty building conveys to consumers and how that affects the overall confidence for investment in your downtown. There are four major components to consider when designing a local BRE plan.
1. Team Building and Partnership Development. As with any major community or economic development endeavor, it is important to form a strong team to help carry out the plan. When building a BRE team, consider the skills and resources that are needed in order to serve the local businesses. Is industry knowledge represented on the team? Is the team outcome oriented? How can partner agencies help? Can they provide services to businesses? When forming your team, consider training and utilizing local volunteers for business visits. By using local volunteers, connections and relationships are made stronger and using volunteer labor can help a program’s budget as well. Make sure all partners understand and acknowledge the purpose of the program.
2. Relationship Building. With a team in place, outreach to businesses can begin. The first efforts should focus on building trust with business owners and managers. Once a relationship is formed, start collecting data about the business and its needs. There are several ways to collect data: focus groups, on-site business visits, or surveys. Use local community knowledge to establish a rapport with the owners and managers. Make sure to communicate the intentions of the BRE plan and follow up on any commitments made.
3. Responding to Business Needs. After data is collected, it will need to be analyzed and understood. First, respond to any “red-flags.” If there is a business in risk of failing, what can be done to help? Assistance to individual businesses at this stage will need customized solutions. Secondly, use the information collected to create technical assistance, marketing assistance, or operational assistance programs. If possible, create financial assistance programs geared to help businesses expand. Lastly, this data can inform long-term development programs and help local governments create policy for retention, expansion, attraction programs and funding.
4. Management and Follow-up. You will need human capital, a sufficient budget, and technology to ensure that business visitations and the technical assistance are effectively managed. As with any program, if there is a budget, hire a coordinator or dedicate existing staff time to oversee the BRE plan. Make sure to maintain information on workforce, technical, and financial resources available to businesses. Maintain a database about the businesses and their needs and make sure to market the program and its services to the entire business community. As with any good plan, make sure it is measurable and flexible. Make adjustments as needed.
The local businesses in your downtown are as important to placemaking as much as, if not more than, the buildings they operate in. They provide the experiences and interactions where visitors have a memorable meal or buy an artisan gift that can’t be found anywhere else. Small businesses also generate the sales tax which, in part, funds local governments’ operations and infrastructure investments. If you don’t have healthy businesses, you can’t have a healthy community. Properly implemented BRE plans can help businesses become more competitive and remove local obstacles that interfere with the success of business.
Stephanie Troller has over 11 years working with rural and urban communities in both Colorado and New Mexico. Her experience includes business retention and recruitment, planning and implementation, housing, project and program management. She specializes in economic development and is passionate about helping communities achieve their short term and long term goals.
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Main Street Homer (Homer, Louisiana) was awarded a $25,000 A Community Thrives social impact grant from Gannett/USA Today Network to create an arts center with affordable artist studios and classroom/event space.
Evolution, Acceptance, and Change: The Main Street Approach as a Catalyst for Revitalization
Nearly slated for demolition 30 years ago, downtown Cedar Falls has experienced an amazing transformation through its revitalization journey using the Main Street Approach.
Main Street Roots Run Deep in Downtown Wytheville
Since starting as Executive Director, Todd has helped the organization achieve Virginia Main Street Designation Status and national Accreditation.
Announcing the 2018 Great American Main Street Award Winners
The National Main Street Center, Inc., announced Downtown Oregon City, Rock Springs Main Street/Urban Renewal Agency, and Howell Main Street as the 2018 Great American Main Street Award (GAMSA) winners during its annual conference in Kansas City, Missouri.
Main Streets in Action
We rolled out four new Main Street America videos highlighting the power of the Main Street movement, Main Street Approach, economic impact of Main Street, and the incredible volunteers that make Main Street's grassroots network so effective.
Community Spotlight: Ridgefield Main Street
Ridgefield Main Street is an energetic, up-and-coming Washington Main Street program located just north of Vancouver, Washington.
Want to do something big? Start small.
A series of small, incremental improvements, when taken together, provide momentum for long-term economic transformation and improved quality of life in a community.
Michigan Main Street Refresh Implementation: The Refresh from Our Communities’ Perspective
Here's a bit of background on each of the communities. Read on for the Refresh Implementation Q&A.
Announcing the 2017 Great American Main Street Award Winners
The National Main Street Center, Inc. announced the 2017 Great American Main Street Award (GAMSA) during its annual conference in Pittsburgh, Pennsylvania.
The Reality of Main Street — Letter from the President
The National Main Street Center and the Brookings Institution have jointly authored a response to Mr. Hyman’s piece, The Reality of Main Street, that is featured on Brookings’ blog.
Michigan Main Street Refresh Implementation: Our Process and Lessons Learned So Far
Michigan Main Street Center was the first Coordinating Program to implement the new Main Street approach on a large scale. In this article, they share their robust process and valuable lessons.
The Reality of Main Street
There is another way for smaller communities to compete in today’s economy and we believe a strong main street strategy is at the heart of it.
The Myth of Main Street? Letter from the President
Letter from past MSA President, Patrice Frey
The Lowdown in Downtown LaBelle
Fritz the dog has made his way into the hearts of the residents of LaBelle, Florida, and helped our Main Street Community find a way to make what we do more noticeable.
Strategic Planning Through Transformation Strategies – Saline, Michigan
Back in October 2015, we introduced the three key components of the refreshed Main Street Approach: inputs, outputs and Community Transformation Strategies.
Revitalization and Main Street Transformation
For a lucky few downtowns, greatness may happen effortlessly with a strong sense of place that seems to develop organically and simply sustain itself. For most places, success doesn’t happen by chance.
Revisit Your Community’s Unique Assets: Connecting Asset-Based Economic Development to Community Transformation Strategies
This need for change results from the heavy emphasis on three components of the refreshed Main Street Approach.
The 2016 Great American Main Street Award Winners
The 2016 winners are a diverse group in geography and character, but together demonstrate the broad applicability of the Main Street Approach:
Main Street Nation Radio
The first official show under the Main Street Nation banner aired in June 2015 on WJR-760 AM Detroit.
The Path To The Future
The economic value of historic preservation on Main Street.
Refresh Demonstration Project Sites: Learning Labs for the Updated Main Street Approach
A series of demonstration projects providing the opportunity to test new strategies on the ground, learn from practitioners, and refine the approach.
Wisconsin Main Street: 27 Years of People, Places and Progress
While there have been over $1.2 billion in public and private investment in Wisconsin Main Street communities over the past 27 years, what really makes it special are the people and places that have been involved.
Pop-Up Art Tour
Main Street Bartow's empty storefronts become pop-up art galleries to promote economic development.
A Walk Through Rehoboth Beach Main Street
Although a “beach town,” Rehoboth Beach is open 365 days a year, and with that has the unique challenge of catering to both year-round residents and tourists within a wide range of ages, interests and economic levels
Independent We Stand Makes Main Streets a Priority
In communities across the country, hardworking business owners and buy local advocates come together to foster an organized effort to reinvent and revitalize Main Streets and downtown districts.
Announcing the 2015 Great American Main Street Award Winners
The National Main Street Center is pleased to announce that Cape Girardeau, Mo., Montclair Center, N.J., and Rawlins, Wyo. were selected as the 2015 Great American Main Street Award® (GAMSA) winners.
