Business Visitation and Entrepreneurship Program (Core) Sample Clauses

Business Visitation and Entrepreneurship Program (Core). Existing businesses are the source of the majority of new investment and employment growth, providing more than 80% of job growth in a typical community (according to a recent study reported by the University of Minnesota). Regular contact with businesses through site visits and detailed interviews is required in order to obtain business intelligence on their opportunities and challenges and to ensure they are continuing to operate successfully and reinvest in the region. The ongoing success of private businesses is important not just for employment and investment reasons, but also because they are a vital source of municipal property tax revenue for local governments. The residential class pays the most taxes in total, but business (Class 6) tax rates are several times higher than residential rates for a property of equivalent value, despite research in other communities showing that residential properties place a heavier burden on municipal service than commercial properties. The business visits by CVEDS staff involves personal interviews with business owners and managers to discuss challenges and opportunities they are facing. This allows CVEDS to stay abreast of emerging trends and issues in the local economy and to identify common issues across companies or industries that might require a coordinated response. An example might be a transportation or labour training issue that is beyond the ability of a single company to influence but with coordination and assistance by CVEDS bringing together the concerns of multiple companies, effective change can be delivered. The entrepreneurship component of the program includes the resource materials and advice available to anyone accessing the CVEDS office. In addition, workshops and seminars aimed at new entrepreneurs are also facilitated by CVEDS when they are made available through senior government agencies or other community partners (e.g., Community Futures).
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