Why Support Local Businesses?
Because they are already there! Starting new businesses can be a lengthy process relative to improving those that already exist. And business recruitment has proven to be very difficult for many locations. So if local businesses are not supported, what economic development strategy is left?
There are many positive reasons why local businesses (owned and operated by local people) should be supported. Here are some of them.
The Failing Health of Small, Local Businesses
Facts That Make Governments Shudder
Huge succession problems are also taking their toll because the children of family business owners are less likely to want to run the company.
Source BRW July 2005
At the local business level here are some of the problems they may encounter.
In addition to these problems there are the generic issues related to the global forces that shape the business environment. That includes the fierce competition coupled with a new wave of innovation and technology based products and services that have shortened cycles between their market introduction and eventual replacement by superior products and services.
Today’s business owner is alone and under attack. New programs are needed to keep pace with the changing global marketplace.
No one seems to care anymore, or has it become too hard for many bureaucrats, most of whom know little about business.
Governments need to focus on real things, not economic rhetoric; businesses are real and they add the jobs.
We all need to focus on growing good businesses and good people with growth potential.
Success depends on our ability to innovate and our speed to market. This has become the most important determinants of business survival and growth.
Inaction sees many opportunities going down the drain and other communities taking the initiative.
Economic Gardening helps local businesses grow by providing them customised support, market analysis and data, opening the door to new growth opportunities.
Economic Gardening brings knowledge and information to businesses to improve strategies, prospect and sales opportunities, industry forecasts, trend assessments and business development analysis.
The interest in entrepreneurial activity, as a foundation for economic development, continues to grow across the world at a rapid rate. Various communities around the world are using different tools and methods, but the core concept is still the same: build nurturing environments for growth businesses.
We must strive to develop local entrepreneurs and encourage investment by home-grown businesses. This is the only way most towns, and businesses, can feasibly integrate themselves into the global market place of the future.
Economic Gardeners invests in existing small businesses by providing them with:
The reality is supporting and motivating the business to take action and do something with what they learn.
Economic Gardeners supports all businesses to operate better. This can occur on the basis of individual businesses, various types of groups of businesses ad for special types of businesses (tourism, heritage and men’s sheds). All of these approaches are outlined below. The number of categories of special business types can be expanded according to need.
Businesses occupy the centrepiece of any economic development program. Better business performance is necessary for the creation of economic wealth and better communities
In 1995, Burgess indicated that high performance businesses needed the following characteristics:
With the ever-increasing pace of change, the pressures of such things as globalisation, litigation, legislation, risk management, asset management, new product development, fast to market, corporate governance and a myriad of other such things, it is almost impossible to cope without outside help and experience.
By using experienced coaches and consultants we can all be continually alert to the changing business environment and the forces at work. When business conditions change, often the most successful companies are the slowest to adapt. The fresh leadership and thinking that led to the company's initial success is often replaced by a rigid devotion to the status quo. Good coaches and consultants are catalysts for change.
Economic Gardeners business development services cover a wide range of business activity including:
The rapid response character of Economic Gardeners is built around the wide ranging materials that are accessible from The Resource Centre. Economic Gardeners staff can direct members to the appropriate materials and information. This is the basis for a better understanding of the issue and potential actions.
Business members then have the option of consulting with Economic Gardeners staff to validate their approach to the issue and canvas further opportunities. The reassurance provided through the broad base of skills and practical experience within Economic Gardeners provide business members with the confidence to proceed and still have a good nights sleep.
These are the keys to better performing businesses, less stress and more fun.
Business Groups
Business groups can be an important driver of business development and the creation of new businesses. Economic Gardeners support the development of business groups because of the advantages they offer while they permit additional opportunities to learn about business operation and improved performance.
Growing Good People
Within many communities business leaders and entrepreneurs are a critical resource. Unfortunately, the potential of these people for increasing economic activity and solving problems is poorly recognised and organised. Their contribution can be built around a group that is:
Economic Gardeners Strategy
Economic Gardeners sees these groups as a critical part of the program to build better businesses and community wealth. Economic Gardeners will assist the development of the new economic groups of people committed to the business development of their community: That support will include a learning program for the group, developing its structure and building a program of workshops and seminars.
These business-focused groups will:
Why Not Try a New Approach?
Work to develop the “competency to innovate”, within the group. This could include:
How might the Groups be formed?
Business groups may be formed to initiate a program with Economic Gardeners. These may be an informal group, or a formal group from structures such as Chambers of Commerce.
It is more likely that Economic Gardeners groups will be formed after a number of businesses individually become members and begin to understand the potential of the Economic Gardeners program. The realisation that they face similar problems and opportunities in their individual businesses and are implementing similar learning processes is likely to bring them together to realise the advantages that a group will offer.
The emerging groups indicated above are likely to comprise a mixture of business types and industries. That will provide a variety of issues and opportunities that provide scope for collaboration to find the best outcomes.
A further type of group might be firms that comprise a particular industry and may arise from economic development officers undertaking “industry studies”. Those studies identify the firms in the industry and their associated supply chain. The work will also seek to identify new business opportunities for the industry and may evolve into some form of “cluster”.
The cluster groups are also welcomed into the Economic Gardeners program and would be supported in ways that other groups are supported. In this instance, the Economic Gardeners also has the potential to act as an independent broker within a group where competition among members exists.
Business incubators comprise businesses that are new and often developing new products and services, but within a real or virtual complex. Incubators allow you to quickly develop your core structure and business strategies for your new or developing business or simply enhance your marketing strategies by clustering with other businesses.
Economic Gardeners can provide support to the incubator businesses at the critical formative period of their development. Incubator businesses that become Members of Economic Gardeners will immediately have access to marketing strategies, business and market knowledge, business development tools and management ideas that could save hundreds of hours of research and self-learning and at the same time reduce the number of mistakes along with the risks.
Become a business owner that can control the business in turbulent times by using modern tools and methodologies and through the timely the implementation of innovative ideas. This will prepare the business owner to prosper after the period of development within the incubator.
For more information about incubator membership options please contact us
Finding and developing international business opportunities and markets can be an exciting way to develop your business and community. International markets can be very profitable, but there are risks. It can be very costly in terms of money and time, stretching existing resources to the limits.
The many risks that have to be addressed include such things as cultural differences, political and trade barriers, legal implications, different distribution methods, credit and financing techniques. These can all impact adversely on the exporter without the right connections and advice.
Economic Gardeners can assist you in preparing your business for export, developing strategies and leading you through the various stages. We can also provide links to the various specialists in export development and international markets.
For more information please contact us
It has also been said that our success comes about because we try to create a team environment where everyone involved has fun whilst achieving results beyond their original thoughts and expectations. It’s a funny thing about life; if you refuse to accept anything but the best, you very often get it.
Economic Gardeners cannot ensure success however it is measured. It can provide you with guidance to provide you with the best chance of success. This is achieved through getting the basics of structuring and operating the business right, and by adopting an innovative and entrepreneurial approach to developing the business.
The specific outcomes would include:
These outcomes are achieved primarily through use of the Economic Gardeners Resource Centre learning materials to develop the capacity to manage and operate the business. The support services are used to ensure the proper application of that knowledge to the business and to reassure the operator on the validity of their business and project plans. The health checks measure progress and form the foundation for planning for continuous learning and improvement.
Business development drives the growth of the economy. Community development drives the quality of the community for residents. They are linked together and Economic Gardeners supports both. Many communities bring economic development under a community development banner.
Economic Gardeners approach is based on similar principles to those that support business development. These include:
The factors that distinguish community development are:
Economic Gardeners is structured to achieve:
The community organisations have a role in building a better economy, better businesses and better communities.
Ability to apply good management principles, seek opportunities and being innovative are a few of the attributes required.
The modern regional organisation is:
There are always constraints to overcome
For more information please contact us
