
Today’s Morning Buzz is brought to you by Alexander Fung, Economic Development Manager from the City of Eastvale, CA. Connect with Alexander on LinkedIn.
- What I’m reading: “Leaders Eat Last” by Simon Sinek
- What I’m watching: Reactions to “Squid Game” 2’s ending.
- What I’m working on: Bringing the Eastvale Economic Development Team to the next level.
Economic developers are tasked with promoting their communities’ unique advantages to attract new businesses, talents, and investment. They are known to encourage collaboration between government agencies, businesses, and community members to work toward shared goals. More importantly, they must help existing businesses feel valued and supported, encouraging them to stay and invest further in the community. While larger businesses generate more sales tax dollars for the community, economic developers must also ensure that small businesses succeed.
Small businesses play a significant role in bringing character to neighborhoods, create communities, and drive economic growth. Yet. Many small business owners face barriers that can be challenging to navigate without support. In the digital age, the number of home-based businesses has increased significantly as well. Economic developers in local governments are positioned to empower entrepreneurs and enterprises.
Reducing Bureaucracy
Obtaining permits and business licenses should be simple for business owners and managers. However, a business representative generally needs to visit or call multiple municipal departments to obtain permits, feedback, or approvals. Cities that strive to be business-friendly should consider streamlining their permitting and licensing procedures, such as transitioning to an online portal that consolidates business licensing, zoning, and plan check procedures. Another approach can be designating a staff member to serve as a point-of-contact to guide businesses through various city processes and meetings. These changes can make a huge difference for small businesses. Within the City of Eastvale, staff have launched the “Business First” Initiative to not only provide guidance, but work with other departments to cut through red tape and reduce bureaucracy. These initiatives can save time for both city staff and small business owners.
Providing Resources and Training
Small business owners often may not be familiar with all aspects of business operations — management, HR, finance/accounting, marketing, administration, etc. While economic developers are encouraged to provide resources and workshops for small businesses in their communities, they don’t necessarily need to create the training materials themselves.
Federal and state government agencies, local chambers of commerce, Small Business Developer Centers (SBDCs), and other nonprofits may already be providing resources and workshops for local businesses. In this case, economic developers can ensure that small businesses are aware of these resources through outreach and marketing efforts. An effective strategy would be to ensure that there is an up-to-date webpage that small businesses can visit to review available resources.
Enhancing Community Image
A thriving community image benefits businesses and residents. Economic developers can inspire residents to support small businesses through Shop Local Campaigns and Business Features. Shop Local Campaigns can be implemented in the form of citywide campaigns during the holidays, Small Business Weeks, or other major celebrations. Additionally, these campaigns can feature small businesses and their unique stories or contributions to the community. These efforts would cultivate pride and loyalty among residents. As for the City of Eastvale, the city’s Economic Development Team partners with local businesses to release storytelling videos every quarter. This video, titled “Where Dreams Take Flight,” is an example of how small businesses can be showcased and highlighted.
By fostering an environment where small businesses can thrive, economic developers are not only strengthening their economies, but also investing in the cultural and social fabric of their communities. The success of small businesses ultimately reflects the success of the entire community.