5 Things That A Business Development Center Does to Help Business Retention and Expansion Process


- Small businesses often use business retention and expansion strategies. The business and expansion strategy is suitable for a small business with 10 to 99 employees. The idea is to grow a small business while knowing their needs and responding. Small business owners can learn about this strategy by joining a professional small business development center. Learn what the development center does to help small businesses or industries.

Organize the People Involved in the Business

The process started by organizing the people who are involved in the business. Those people discuss the target of industries or businesses. It is also a phase to create a questionnaire for the businesses and industries. The business development center will make a further analysis on the list of businesses and industries they achieved.

Gain Support

As a business owner who wants to join the business retention and expansion program, you will meet another community. This meeting discusses the readiness of the program based on the data and assets available. The development center often also shares information about this program through a variety of media to gain support from the related parties.

Gather Information

The business development center will also gather information about the industries or businesses. They even send their representative or coordinator to directly visit the site. It helps to achieve relevant, real-time, and factual information about industries and businesses that want to join the retention and expansion program.

Analyze Results

Coordinators collect the data, both from the surveys and the site visits. Then, they analyze it by using specific software. The result of the analysis shows whether the businesses or industries are ready to expand or retent. It is also a phase to determine the most suitable strategies for businesses or industries to pass the business retention and expansion program.

Report Findings

A business development center has to write a brief report to identify the strengths to support the existing business or industries. They will share the result with credible forums, media, or other methods to let the businesses or industries know about it.

A small business that joins the retention and expansion program often receives workshops, country data analysis, survey instrument, communication access, and final report. The idea of the program is to seek the best way to expand and retain your business to grow significantly that gives impact to the society. You can contact the closest business development centers in your country to get the complete requirements and everything dealing with the business retention and expansion program.