Strategic Planning Committee

Transcription

1 STRATEGIC PLAN

2 TABLE OF CONTENTS STRATEGIC PLAN 1.0 INTRODUCTION VISION MISSION STATEMENT PRINCIPLES AND VALUES STRATEGIC PRIORITIES... ERROR! BOOKMARK NOT DEFINED. 6.0 IMPLEMENTATION FRAMEWORK Implementation Charts Strategic Plan Review Framework... 7 APPENDIX 1 - Strength, Weakness, Opportunity and Threat Analysis Strategic Planning Committee Facilitator: Vicki Luke OMAFRA Jim Hunter, Chair; Helen Haddow, Vice President; Steve Walsh, Director and Cheryl Lester, Director John Regan, General Manager; Marilyn Crewe, CED Officer; Ronda Stewart, SBEC Manager and Debra Webster, Executive Assistant STRATEGIC PLAN March 2013

3 1.0 INTRODUCTION The Elgin Business Resource Centre is a member of the Community Futures Development Corporations network across Canada. The Elgin Centre was formed in 1986 to serve local existing business and to support new business formation opportunities for residents within Elgin County. Over its twenty-six year history, the organization has witnessed significant change in terms of programs and services, the economic environment within St. Thomas/Elgin and other transitions. As part of the governance and management planning strategy to position the organization for future success, the Board of Directors, in conjunction with the General Manager, identified an opportunity to undertake another strategic planning process for the organization that would cover the period from the spring of 2013 to the end of The Strategic Plan process involved three phases: Phase 1 Development of an Environmental Scan report that incorporated the results of financial and policy reviews, program information and related considerations. This material was used as a primary resource tool for the strategic planning session in Phase 2. Phase 2 Completion of a series of Strategic Planning Workshops that involved the Board of Directors, EBRC staff and two community engagement sessions. The workshops completed a review of key trends; a Strength, Weakness, Opportunity and Threat Analysis and enabled gathering of key prioirites for EBRC for the next three years. Phase 3 Prepararation of a draft Strategic Plan, followed by Board review, amendment and approval, which will be followed by development of the implementation strategy by management. STRATEGIC PLAN Page 1

4 2.0 VISION A Vision identifies for all the stakeholders of an organization, the horizon towards which everyone is moving collectively. As a horizon can galvanize the energy of all who look at it, a Vision should bring together all stakeholders into a common sense of purpose and direction in terms of where the organization is headed and the ultimate outcomes it wishes to achieve. Elgin Business Resource Centre s Vision was developed in its previous Strategic Plan. The following Vision has been reviewed and withstands through this Strategic Plan process: Facilitating prosperity, strengthening communities. The following material provides some further definition and perspective in terms of key themes within the Vision: Facilitating identifies the means by which the organization undertakes to move towards its horizon. That is, it facilitates access to the resources, information, mentoring and other services that allow individuals who come in contact with the Centre to develop their business ideas and to pursue their aspirations; Prosperity the ultimate outcome of the Centre s work is the ability to enhance the prosperity of the individuals who seek its services, and for the communities in which they reside. Prosperity is the outcome that positively impacts everyone who lives within the community; connects with both social and economic development activities; and results in vibrant, healthy, attractive and sustainable communities that offer their residents an outstanding quality of life; Strengthening Community the Centre works with individuals but it is also part of a broader community. As a member of the community, its efforts, both through the individuals served and participation in community initiatives is to strengthen the community socially, educationally, culturally and economically. The Vision speaks directly to the importance of strong communities that can bring together the supports that allow the residents to pursue their ideas and realize their aspirations. STRATEGIC PLAN Page 2

5 3.0 MISSION STATEMENT A Mission Statement indicates to the reader the essence and fundamentals of the organization in terms of what it does and how it achieves its mandate. In application terms, every strategic and operational decision of the organization needs to align with its Mission Statement. If a strategic or operational decision is being made but does not align with the Mission Statement, the organization has to ask why it is making a decision that is not supportive to the Mission Statement or whether it is time for the Mission Statement to be reviewed. The current Mission Statement of the Elgin Business Resource Centre was reviewed. The essence of the statement was sustained; however amendments were made to enhance presentation and application. Mission Statement Elgin Business Resource Centre (EBRC) provides business resources and is a catalyst in strengthening our communities through loans, counselling, and building collaborative partnerships. The following material provides further insights and perspectives on the key dimensions of the Mission Statement: To provide business development resources the Centre brings together a wide array of resources in supporting individuals in their efforts to assess their business prospects and ideas and to facilitate the development of business plans, loan acquisitions, start-ups and long term sustainability. Much of this work involves working with individual clients, either directly or through referrals and mentoring. The Centre provides access to its own resources and those of other parties targeted at individual business development initiatives; To be a catalyst the Centre has a legacy of working with the broader community to enhance economic and social development, infrastructure and to create an environment where individual business initiatives can prosper. In this way, the Centre assumes a leadership role in community social and economic initiatives where its resources, expertise and capacity can contribute to beneficial outcomes for the residents and the County; Strengthen the community reflects a primary purpose of the Centre which is to strengthen the Elgin Community wherever possible within the capacities of the Centre. This includes primarily participating in economic and social development initiatives that enhance the overall quality of life and the prosperity prospects of County residents. STRATEGIC PLAN Page 3

6 4.0 MANDATE: PRINCIPLES AND VALUES Principles and Values have three roles and applications in a Strategic Plan. First, they provide an opportunity to further define key dimensions of the Mission Statement. Second, and potentially most importantly, they identify how the organization views and will treat and interact with people at all points of engagement. Third, they initiate the possible formation of performance outcomes. The following Principles and Values have been identified for the Elgin Business Resource Centre in previous Strategic Plans and have been sustained through this Strategic process. We believe In the power of people s ideas and the value of supporting them in achieving their hopes; In treating all people with respect, compassion, fairly and as an individual, ensuring confidentiality in all our business relationships; In the development of an organizational culture that inspires innovation, and is open minded, receptive and encourages staff to realize their potential; In developing a learning organization that continually builds its knowledge, skills, wisdom and capabilities; In being accountable to our community and stakeholders by being honest and sincere, and acting with integrity in all that we do. The first Principle focuses on the value and potential of people s ideas. Business ideas are the kernel upon which the Centre acts and supports individual success that then contributes to greater prosperity across the broader community. It is essential that the Centre views each person as an individual with the potential to succeed. This perspective, along with trust and respect, forms the Principle upon which client relationships are formed, acted upon and succeed. It is essential for the Centre to treat every person fairly and as having a valued and potentially successful business idea. Also, having compassion for individual clients coming from difficult situations, such as unemployment, rejection by banks for loans and other situations, such as Ontario Works, is a vital attribute of the Centre. Compassion, combined with trust, can both inspire and regalvanize individuals to pursue their business dreams. STRATEGIC PLAN Page 4

7 Organizational culture is a key success factor in every organization. The Elgin Business Resource Centre has a strong culture of service, expertise, being accepting of people and providing solutions. Further developing this culture is a key Principle of the organization through supporting innovation, being open-minded and accepting, and continually fostering a sense of hope in the people served. The business world is a fast changing and evolving environment. The Centre works from a position of evident knowledge and wisdom in providing services to its clients. The Centre, as a Principle, needs to continually develop as a learning organization that is ensuring the constant growth of its wisdom, knowledge, skills and expertise. Everything it undertakes needs to be contemporary, understandable and relevant to the needs of the clients in building their business plans, undertaking research and turning their ideas to reality. The Centre strongly believes in the need to be accountable for all its actions. In this light, the Centre needs to ensure, as a publically funded organization, that it acts with integrity in everything it does, and is honest and sincere with its clients, funders, the community and others. Being accountable is a responsibility of a community organization and represents a fundamental value by which the Centre operates. STRATEGIC PLAN Page 5

8 5.0 STRATEGIES The Strategic Priorities represent Areas of Effort that the Board of Directors has identified for the organization. They will be further investigated, developed and implemented in order to advance the achievement of the organization s Vision, Mission and Mandate. The following Areas of Effort have been developed for the Elgin Business Resource Centre for the period 2013 through A. Business Development Programs review and then enhance a plan of business services and programs offered Increase use of technology in the delivery of services Focus on specific target groups and diversity in provision of services Enhancement of business services and programs Increase involvement with youth/students Encourage and enable coaching and mentoring Provide relevant workshops and seminars Provide facilitation and coaching to community groups Enhance follow-up with clients Special events which provide relevant workshops and seminars B. Funding secure and leverage additional funding plan Strengthen and leverage partnerships Determine the feasibility of a satellite office Improve upon evaluations and performance measures C. Human Resources enhance organizational capacity by developing a plan Effectively engage volunteers Improve staff and board capacity and its diversity Develop a comprehensive remuneration package Develop a comprehensive training program for staff and board Develop a succession plan for staff and board D. Marketing and Communications develop and implement a plan Increase awareness through enhanced marketing and promotions Improve communications with the community STRATEGIC PLAN Page 6

9 6.0 IMPLEMENTATION FRAMEWORK 6.1 Implementation Charts The following charts provide an implementation plan for the individual Areas of Effort. The Strategic Plan is implemented by management, who would be charged with the responsibility to complete an Implementation Plan by noting specific areas, identifying lead responsibilities, reporting dates, resources needed and approval status. The Implementation Plan is important in ensuring the progressive and incremental implementation of the Strategic Plan. However, it must be recognized that the operating environment is dynamic, and that there are continuous changes in policy, funding, economic realities, etc., that influence activity implementation, month to month and year over year. There needs to be recognition of this a long with a need to continually update the implementation strategy to reflect the operating environment. Implementation plans are usually developed and implemented by management, with the General Manager being held accountable through the performance appraisal system for the successful implementation of the Strategic Plan. 6.2 Strategic Plan Review Framework The following three part review framework is identified for the Strategic Plan for the Elgin Business Resource Centre: Bi-annually, the General Manager should provide an update to the Board of Directors on the progress being made, the challenges being experienced, changes being considered and the seeking of input as required; Annually, the Board will set aside approximately a one or two hour block of time to review the Strategic Plan in regards to the progress being made, changes, the subsequent years tasks and related considerations, as well as to make appropriate amendments; In the third year of the Plan, the Board of Directors will undertake a comprehensive review of all dimensions of the Strategic Plan in order to either affirm or amend the Plan to reflect the opportunities and the challenges of the next three year period. STRATEGIC PLAN Page 7

10 STRATEGIC PLAN: Areas of Effort Objectives Timeline Project Lead/Team Reporting Dates Resources A To review and then enhance a plan of business services and programs offered Completion Date A 1 Increase use of technology in the delivery of services A2 Focus on specific target groups and diversity in provision of services A3 Enhancement of business services and programs A4 Increase involvement with youth/students A5 Encourage and enable coaching and mentoring ongoing ongoing SE, SBEC, CFDC, ICE SE, SBEC, CFDC, ICE SE, SBEC, CFDC, ICE ICE, SBEC, CFDC SE, SBEC, CFDC, ICE Sept 2014 June 2015 June 2014 quarterly quarterly A6 Provide relevant workshops ongoing SE, SBEC quarterly and seminars A7 Provide facilitation and SBEC, CFDC May coaching to community groups A8 Enhance follow-up with ongoing SBEC, SE quarterly clients A9 Special events ongoing SBEC, ICE quarterly B To secure and leverage additional funding B1 Strengthen and leverage partnerships B2 Determine the feasibility of a satellite office B3 Improve upon evaluations and performance measures ongoing 2013 ongoing SE, SBEC, CFDC, ICE quarterly SE, SBEC, CFDC Oct 2013 SE, SBEC, CFDC, ICE quarterly STRATEGIC PLAN Page 8

11 STRATEGIC PLAN: Areas of Effort Objectives Timeline Project Lead/Team Reporting Dates Resources Completion Date C C1 C2 C3 C4 C5 To enhance organizational capacity by developing a effective Human Resources plan Effectively engage volunteers Improve staff and board capacity and its diversity Develop a comprehensive remuneration package Develop a comprehensive training program for staff and board Develop a succession plan for staff and define term limits for the Board 2014 ongoing CFDC, SBEC, ICE SE, SBEC, CFDC, ICE Sept 2014 annually GM Dec 2013 GM GM Sept 2013 June 2015 Mar 2013 D Develop and implement a Marketing and Communications plan D1 D2 Increase awareness through enhanced marketing and promotions Improve communications ongoing ongoing SE, SBEC, CFDC, ICE SE, SBEC, CFDC, ICE quarterly quarterly STRATEGIC PLAN Page 9

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13 APPENDIX I STRENGTH, WEAKNESS, OPPORTUNITY AND THREAT ANALYSIS SUGGESTED SERVICE GAPS IDENTIFIED ACTION IDEAS DRAFT STRATEGIC PLAN Appendix Page 1

14 IDENTIFIED STRENGTHS: Staff Quality and experience of staff High calibre of staff energy Knowledgeable General Manager and staff who are passionate about diversified economic development in Elgin County that are highly respected by City and County officials and partnerships Programs, Services and Resources Offering free business coaching/support services Providing business funding to start-up businesses and the support services offered prior to and thereafter Economic Development Your Way of Doing Business Desire to improve economic climate by helping others build sound business models A genuine desire to help people and the building of a strong team Community and client focussed EBRC staff who get out in the field to meet with new clients Connections and Partnerships Their strong and positive relational and organizational connections federally, provincially, regionally and locally Local connections making local impact Ability to partner with other groups and levels of government Image or Public Perception The reputation EBRC has built for itself Being respected within the community as a place where things happen Well respected by all levels of government Physical location and facility The central location of EBRC for County and City economic development programs and small business counselling services Branch office(s) will help expand to new client Board Quality and experience of board Strong governance Operations Good processes and procedures in place Efficiency of administrative component Other Community driven organization with 25 year history Diversity DRAFT STRATEGIC PLAN Appendix Page 2

15 MOST IMPORTANT OR CRITICAL CHALLENGES: Funding Sustainable funding for the long term growth of the EBRC and services Keeping costs to a minimum for clients Time requirements for funders tracking and reporting take away from time with clients Securing adequate funding to maintain current services Staff Related Staffing levels, Salaries and Staff benefits Staff retention due to private sector demand Retaining valuable experienced staff for delivery of these services Over extension of staff Planning Territory/boundaries and possibility of merging (centralizing) Prioritizing/managing multiple opportunities and ongoing programs without burning out management/staff resources Staying focussed on delivering primary focuses while also trying to tap into funding sources Marketing Market Research: o Staying ahead of the trends regarding business development needs o Identifying the kind of business educational program that the smaller/home based businesses need The ability to attract new clients EBRC has a lack of financial resources to support a strong marketing campaign (as compared to local counterpart economic development organizations) Service standards Providing new and innovative services Consistency in the client s experience as well as post client experience The Economy Serving a growing need for economic development Capacity If provided resources permitted an increase of clients, would we have enough staff to meet the demand? Other Government regulations DRAFT STRATEGIC PLAN Appendix Page 3

16 OPPORTUNITIES FOR REVIEW: Connections and Partnerships Partnerships with the County, City and community stakeholders have solid foundation Chamber of Commerce membership participation Enhanced board involvement and community relationships with organizations such as Fanshawe College and schools Partnering with like minded organizations to share best practices and continually strengthen the quality of service options and/or referrals to meet client needs with client demand fluctuations Specific Projects/Examples/Themes/Areas Project Ojibwa Agriculture/Rural Algoma University Youth Programs and Services Public educational workshops (lunch and learn) Follow-up with clients Being the lead for lending to small business Working with ICE program Marketing Our success stories Continue showcasing the successful business start-up. Accessibility Flexibility to offer various methods for existing business owners to access information (workshops, coaching by phone, in office, or on location by appointment, pre-recorded training on website) Expansion into under serviced areas Other Helping people/organizations/businesses explore new paradigms for restoring/gaining economic health within the region that isn t necessarily only based on large manufacturing models Being a starting place DRAFT STRATEGIC PLAN Appendix Page 4

17 EXTERNAL THREATS OR ISSUES: Funding Funding and staff cuts Limited community resources for CED which should place an even stronger demand for CED need but there is limited staff time and funds available to assist CED projects. The need is great but the option is to be very selective with projects moving forward Maintaining a viable source of funding Minimizing loan defaults Economy Economic landscape changes and client demands fluctuations Coordination Lack of unity between different groups in the county Other Community need for an effective BR+E program to target and support services for existing businesses Becoming involved in too many projects that may or may not have a direct benefit to the organization. The inability to have staff man various outside activities for business development and community development projects Uneducated youth local high school has so many young people dropping out DRAFT STRATEGIC PLAN Appendix Page 5

18 SUGGESTED SERVICE GAPS: Programs and Services More workshops E-business and online is a service area that requires strengthening. We need to be ahead of the trends to be credible and able to educate effectively Site visits are important on a regular basis to see the day to day operations. An annual schedule is needed Providing support to clients to help ensure success beyond start-up Continue to encourage existing clients to operate their business backed up with detailed financial statements and business analysis More skills gap than service gap - clients need training with E-business development, risk assessment and management Women, Aboriginal, People with Disabilities no programs targeted at these groups It is important to maintain a presence for existing clients in terms of loan management and just making sure that they know that there is an interest in their particular business success Offer workshops and seminars for potential clients Many home based businesses that need local office and staff support to help them manage their business more successfully Mature workers, over 50 group. There is Summer Company for the young. Is there anything for the mature? Marketing Market Research: o Moving along the business cycle, what do they need after they have started up o The counsellors would best know what is lacking for their clients o Formal discussion needs to occur to identify if there are gaps that we are equipped or can be equipped to service such as Mennonite, Amish or Aboriginal Marketing for clients is sometimes a mystery and can be one of the most expensive parts of business how to market on a shoe string, tools and resources to help them do it themselves Home based business owners/existing business owners need to know they have access to a Business Development coach at no charge Mobile technology/social media communication strategies Accessibility Under serviced areas within our County No office in the West end of Elgin Training More training budget for staff Improving staff capabilities in select areas succession planning, business transition and growth DRAFT STRATEGIC PLAN Appendix Page 6

19 ENVIRONMENTAL SCAN 2013

20 TABLE OF CONTENTS 1.0 INTRODUCTION ORGANIZATIONAL PROFILE Organizational Foundation Programs and Services Staffing Profile Financial Operating Profile Marketing Strategy Draft Operational Plan CONSULTATION Introduction Capitalize on the use of technology Develop a marketing and promotions plan Increase opportunities by working with community partners Find alternative sources for funding in addition to government dollars Focus on specific target markets Encourage and utilize volunteers Training for volunteers, current business owners, organizations, staff and board Expanding services offered to businesses Raise awareness and increase engagement with youth/students Work as a facilitator with community groups and their initiatives Promote mentoring through mentorship program and apprenticeships Develop a comprehensive remuneration package for staff Bring people together for agreement on which to focus the limited resources Develop Staff/Board retention methods Provide relevant workshops and seminars Assess and improve client access in delivery of services Offer services at more locations across Elgin Improve upon evaluations and performance measures Learn more from client follow-ups Offer sector specific services Assist businesses with marketing Program and service review to avoid duplication with other partners Focus on planning and priorities Conduct market research for a better understanding of needs Improve communication with community Funding for special projects Help set-up community owned business Celebrate successes Enable networking STRATEGIC PLAN ENVIRONMENTAL SCAN

21 1.0 INTRODUCTION The Elgin Business Resource Centre is one of many Community Futures Development Corporations established across Canada. The Elgin Centre was formed in 1986 to serve existing small business and to support new business formation opportunities for residents living within in the County of Elgin. Originally known as the Elgin Local Employment Assistance and Development Corporation, it later amalgamated with the Elgin Community Futures Committee. Today it has rebranded itself as the Elgin Business Resource Centre. Over its twenty-six year history, the organization has seen significant change in terms of programs and services, the economic environment within St. Thomas-Elgin and other transitions. As part of a governance and management planning strategy to position the organization for future success, the Board of Directors, in conjunction with the General Manager, identified an opportunity to undertake a strategic planning process for the organization to cover the period from the fall of 2013 to This strategy represents a significant initiative by the Board to assess its current operations and to develop its strategic priorities in moving forward. The strategic planning process involved three phases: Phase 1 development of an Environmental Scan report that incorporates the results of financial and policy reviews, program information and related considerations. This material was used as a primary resource tool for the strategic planning session in Phase 2. Phase 2 completion of a series of Strategic Planning Workshops that involved the Board of Directors, EBRC staff and two community engagement sessions. The workshops completed a review of key trends; a Strength, Weakness, Opportunity and Threat Analysis and enabled gathering of key prioirites for EBRC for the next three years. Phase 3 prepararation of a draft Strategic Plan, followed by Board review, amended and approved, which lead to the development of the implementation strategy by management. STRATEGIC PLAN ENVIRONMENTAL SCAN PAGE 1

22 2.0 ORGANIZATIONAL PROFILE 2.1 Organizational Foundation Since its amalgamation with the Local Employment Assistance and Development Corporation in 1986, Elgin Business Resource Centre has been committed to assist and encourage economic development throughout Elgin County and St Thomas. It receives core funding from FedDev, Ministry of Training, Colleges and Universities (MTCU), Ministry of Economic Development and Innovation (MEDI), the County of Elgin Economic Development Department and the City of St Thomas Economic Development Corporation. The following Vision has been developed for the Elgin Business Resource Centre: Facilitating prosperity, strengthening communities. Facilitating prosperity, strengthening communities. The following Mission Statement has been developed for the Elgin Business Resource Centre: Elgin Business Resource Centre (EBRC) provides business resources and is a catalyst in strengthening our communities through loans, counselling, and building collaborative partnerships. The Mission articulates the delivery of resources, being human and financial, and which target both new and existing businesses. The strategic plan identifies the primary geographic service area as Elgin County and St Thomas. The catalyst dimension of the Mission refers to being an engaged leader with the community in economic development. 2.2 Programs and Services In 2011, the Centre undertook 2,026 consultations and 5,060 general inquiries. The loans portfolio included $798,475 in loans to 14 businesses through FedDev and $1,002,711 to five businesses through the Sand Plains Community Development Fund. EBRC collaborated with 54 partners to deliver 9 Community Economic Development projects. STRATEGIC PLAN ENVIRONMENTAL SCAN PAGE 2

23 The Elgin Business Resource Centre provides services to the community through: CFDC Loans loans undertaken to new or expanding businesses in Elgin County and St Thomas. They can be standalone loans or undertaken in partnership with a financial lending organization. Business counselling is provided to each client accessing the loans program. This program is funded by the FedDev and is intended to support business development and retention in smaller communities and rural areas across the country. CFDC Community Economic Development (CED) supports community projects by providing in kind and seed funding to develop new initiatives which promote quality of life and work in St Thomas and Elgin County. Self-Employment Benefits Programs (SEB) supports business start-up initiatives by individuals who have accessed Employment Insurance benefits by providing business training workshops and ongoing counselling. Elgin/St Thomas Small Business Enterprise Centre (SBEC) supports start-up and existing businesses through business development activities such as counselling, educational seminars, events, programs such as Summer Company and Ontario Works, and community outreach. Innovation Centre for En trepreneurs (ICE) the mixed-use business incubator supports small business growth through incubation programming, professional location and administrative support. ICE contracts with SBEC to deliver programming services to the incubation clients. Under the Loans Program, the following activity is identified: In 2011, the EBRC had a total loan portfolio of $2,752,881. A total of $1,800,000 in new loan financing was committed and disbursed through the CFDC and Sand Plains in 2011 to 21 different business projects. The funds were used by businesses to launch new ventures, expand and develop existing businesses, or to fund short-term working capital projects. The loans impacted 121 job created and maintained. Furthermore, our loan financing leveraged an additional $439,484 through other commercial financing and/or additional equity investments. STRATEGIC PLAN ENVIRONMENTAL SCAN PAGE 3

24 To compare: The maximum loan support from the Elgin Business Resource Centre is $250,000 for a business start- up or expansion. As a developmental lender, applicants are required to have approached at least two conventional lending institutions and been unsuccessful in achieving a loan prior to receiving a loan from EBRC. # of Loans Total Loan $ Jobs Impacted $785, $1,589,634 n/a $2,900, $1,800, In 2011, EBRC undertook a number of CED activities including Labour Force Development committee, West Elgin Community Economic Development committee, Fresh Fest, Elgin Art Trail, and St Thomas Elgin Local Immigration Partnership. For the Self-Employment Benefits Program, the following activity profile exists: It is a partnership with MTCU with referrals from Employment Services Elgin and Employment Ontario; During 2011, the program assisted 112 applicants to investigate self-employment, with 39 new businesses being launched; Some 68 active businesses continue to receive counselling support. STRATEGIC PLAN ENVIRONMENTAL SCAN PAGE 4

25 2.3 Staffing Profile EBRC currently has fourteen full time staff positions in three locations: One General Manager One Accounts Manager One Loans Officer One Executive Assistant One Community Economic Development Officer One Small Business Enterprise Centre Manager Six Business Counsellors Two Business Assistants 2.4 Financial Operating Profile Table 1 profiles the organization s financial operations for fiscal 2010 and In 2010, $1,463,625 in revenues was identified, with just under two-thirds coming from various government sources. The second largest source of income was 19.2 % from locally generated income. In 2011, the funding from government sources dropped to 44.1%, with 22.3% coming from locally generated funds for total operating income of $1,500,500. STRATEGIC PLAN ENVIRONMENTAL SCAN PAGE 5

26 Table & 2011 Financial Operating Profiles Revenues $ % $ % Government $ 1,463, $ 662, Locally Generated $ 422, $ 334, Investment Income $ 5,708.3 $ 73, Rental Income Loan Interest $ $ 77, , $ 153,748 $ 276, TOTAL $ 2,199, $ 1,500, Expenses Loan Provision Staffing Occupancy Director s Community Development Administration Amortization $ 104,519 $ 598,650 $ 147,035 $ 27,359 $ 636,071 $ 538,641 $ 9, $ 173,118 $ 608,991 $ 215,826 $ 25,112 $ 218,238 $ 278,778 $ 11, TOTAL Net Position $ 2,061,838 $ 137, $ 1,531,800 ($ 31,229) End of Year Fund Balance $ 2,257,199 $2,225,970 From the expense perspective, in 2010, 31% of expenses were from community development due to South West Community Adjustment Fund, 29% staffing costs and 26% administration. In 2011, staffing represented 40% of the budget followed by 18% for administration for that year. In 2010, a $138,000 surplus was realized, that when added to the previous year s fund balance, totaled $2.2 million. In 2011, a $31,000 loss was experienced due to the reduction in government revenue, resulting in a fund balance at the end of the fiscal year of approximately $2.2 million. The data indicates that the primary source of the Centre funds is government though greater than one half of the funds come from four other sources. From an expense perspective, staffing represents the largest expense, though variable year to year community development can influence the financial statement results. STRATEGIC PLAN ENVIRONMENTAL SCAN PAGE 6

27 Table 2 examines the 2011 sector revenues and expenses. The Board Fund provided 29.1% or $437,200. Industry Canada provided 17.9% or $269,000 followed by the Investment Fund at 16.9% or $253,700. The Investment Fund and Industry Canada fund the loans program which presented approximately 35% of the total Centre funding activity. Table Sector Revenues and Expenses Revenue Industry Canada Investment Fund Board Funds Sand Plains ICE SBEC S E Program TOTAL Expenses Industry Canada Investment Fund Board Funds Sand Plains ICE SBEC S E Program TOTAL $268,707 $253,670 $437,185 $ 55,551 $ 52,035 $221,777 $211,646 $1,500,571 $299,103 $143,118 $537,121 $ 30,000 $ 89,035 $221,777 $211,646 $1,531, The Small Business Enterprise Centre had revenues of about $222,000 and represented 14.8% of total revenues, while the Self-Employment Program represented 14.1% of revenues at $211,500. From the expense perspective, the Small Business Enterprise Centre and the Self-Employment Program had expenses that matched revenues due to the nature of these funded programs. Industry Canada expenses and revenue varied due to an inter-fund transfer of $30,396. The Investment Fund was required to generate more than $143,000 in order to deal with the loan provision requirements for STRATEGIC PLAN ENVIRONMENTAL SCAN PAGE 7

28 The financial profiles indicates the high level of government funding required to sustain the program, particularly from Industry Canada, Ministry of Training, Colleges and Universities, and Ministry of Economic Development and Innovation which collectively provide approximately 41% of total funds. Staffing represents the single largest source of expenditures which aligns with the counselling nature of the business which is labour intensive. Also, the two fiscal years demonstrate the potential implications of loan fund coverage when these requirements emerge. 2.5 Marketing Strategy Key Messages Focus the attention of the business community and those planning to start up a business on EBRC's investment portfolio in order to increase the number of loans made; Increase the public profile of EBRC and to make EBRC the go to place for business development; To market business counselling services to existing businesses and to those who are thinking of starting a business; To promote the Self Employment Benefit, Summer Company and other programs to eligible persons across St Thomas and Elgin County; To increase awareness of our role in the economic development of Elgin County and St Thomas; To promote the satellite offices in the East and West as expanded opportunity to provide service. Communications Tactics A program of contact and education with Mayors and Councils across Elgin County Participate in Chamber of Commerce Business After Five on a monthly basis as well as Chambers in the east and west who periodically host similar events Use the EBRC Website, Facebook and blog for business and program information STRATEGIC PLAN ENVIRONMENTAL SCAN PAGE 8

29 Promote services with face to face discussions with stakeholders ie. Chambers of Commerce, Municipal Councils, Employment Services Elgin, Ontario Works Prepare an Annual Report which can be distributed to municipalities, groups or individuals Continue and expand recognition awards; ensure press releases and press coverage Contribute articles on a regular basis to the Elgin This Month publication Promote loans through regular print ads Promote through local radio, television and community groups when appropriate Directors, committee members, staff and associates all need to be fully informed about programs and services and must be able to speak with authority to clients and the public Draft Operational Plan The organization will develop an Operational Plan for 2013/14 for the various areas of engagement, which include: Loans Business counselling Business development Operations Business Incubation Board Fundraising CED The strategic elements of this plan involve: review and then enhance a plan of business services and programs offered secure and leverage additional funding plan enhance organizational capacity by developing an effective human resources plan develop and implement a plan for marketing and communications The operating plan targets a number of key initiatives that are program based but also are committed to strengthening organizational capacity, performance and awareness. STRATEGIC PLAN ENVIRONMENTAL SCAN PAGE 9

30 3.0 CONSULTATION 3.1 Introduction A series of focus groups with stakeholders were completed to provide a broader based assessment of the Centre as part of this strategic planning process. Below is a combined list of strategies from the sessions held with the Board of Director s, the EBRC staff, two community engagement meetings as well as the information submitted through the online surveys. The two community engagement meetings included 32 individuals across client, government, financial institutions, community partners and other sectors. An electronic survey was also completed by 27 individuals who were unable to attend the Engagement Sessions. Throughout this process, a joint Board and Staff Strategic Planning Committee met regularly with the facilitator to ensure the process was moving forward on schedule. This Committee gave direction and input into the Strategic Plan especially in prioritizing concepts into a finalized draft document. Please note, the strategies that ranked as the highest priority are noted first. 3.2 Capitalize on the use of technology Delivery of services through electronic means online/digital To deliver webinars and e-learning opportunities Improved use of social media Grasp new technologies to continue to be leading edge Help businesses take advantage of the internet to conduct business Use You Tube for videos Encourage innovation and adoption of technology. Website links to existing businesses and services (in order to attract complementing business) Use technology to spread multimedia of people s unique situations, spreading ideas Increased website value membership to track clients, webinars; improved website resources and increase in information Online resource database Dedicated staff to on-line technology for the following: Online marketing Mobile marketing Social media and social media marketing Webinars/teleseminars Blogging Newsletters/E-books Opt in offers/boxes Websites Online contact management Auto-responders STRATEGIC PLAN ENVIRONMENTAL SCAN PAGE 10

31 Online/offline systems Video Stats 3.3 Develop a marketing and promotions plan Increase community awareness of EBRC and what it has to offer. Cross marketing with other groups Self promotion to raise public awareness, recognize accomplishments, and to strengthen the need for funding Promote ourselves continually Smart marketing Acknowledge and recognize success More diversified advertising online/offline, TV/radio, partner with Elgin Federation of Agriculture (develop relationship to get the word out to farmers), Times Journal Community news, Community page in Elgin County market Social media research existing resources Clearer path to Where do I go to get help? Opportunity to break a world record 3.4 Increase opportunities by working with community partners Exploration with Employment Services Elgin, Elgin County Libraries, that are staffed, that provide services, and that are arms length from government. They have the same objective of helping a person looking for a job or starting a new business. The library is doing the same analysis re: partnerships - youth, sporting events. Share resources and gives exposure for both sides; Partner with existing agencies that have similar vision, goals and targets such as the Employment Services Elgin, the Elgin County Library, & the Mennonite Central Committee. There are opportunities to network and share resources Strengthen partnerships with Chambers of Commerce Merging programs if possible i.e. Elgin Arts Trail Help Chambers of Commerce, Municipalities, and the County work together on Economic Development Continue to encourage partnerships to leverage resources (time, $, information) Leveraging work with partners Proactively develop interpersonal relationships involving various and all partners to seek the common ground and build strong bridges to meet their missions, visions, goals and objectives Partnering and networking in the right circles 3.5 Find alternative sources for funding in addition to government dollars Continue to source funding Source additional funding for CED Leverage funding opportunities Sponsor economic initiatives/events/forums; STRATEGIC PLAN ENVIRONMENTAL SCAN PAGE 11

32 CED funding Support municipal projects i.e. Ojibwa Fund directing Spearheading and facilitating private/public funding strategies to access grants Secure, stable and long term funding Fair share funding driven by need and Best Management Practices (BMP) Fund raising through local businesses and possible business levies Multi-year funding/planning 3 year structure perhaps to provide stability for staff and programs Long term stable funding, stabilize funding for programs Source more funding Leveraging funds and resources Pursuing estates for funding (community projects) Expand fee-for-service - grow credibility through strategically chosen fee-for-service engagements Find financial support Find financial support outside of what the government has given 3.6 Focus on specific target markets Identify, embrace and support cultural diversification and inclusion Targeted focus such as youth, women, mature, aboriginal focus, tap into marginalized groups i.e. aboriginal Strengthen relationship with Mennonites as they are entrepreneurs The Amish / Mennonite business model is worth looking at There are opportunities to extend the presence of the EBRC with people they don't normally come into contact with say with an EBRC poster and other information in the 9 library branches People looking for work may be just the people with the drive to set up a business Focus on new and existing businesses to create jobs Advertising is targeted to small business which is a very narrow scope - people think big investment - need to target other business types with smaller investment Targeting other home based businesses and where they network with each other 3.7 Encourage and utilize volunteers Gather volunteer resources, have a volunteer coordinator, set-up a recognition program, application process, orientation, education, and position description Utilize social and service clubs Encourage clients to initiate and support projects that help the community and local economy and that are best suited their skills and abilities Recruit clients and promote business participation in community programs and projects that EBRC is associated with Need to be specific to tasks, time, how it will benefit them/their business Engage local business leaders - to involve them and to get them to contribute to the mission, not just from Elgin STRATEGIC PLAN ENVIRONMENTAL SCAN PAGE 12

33 Committee member involvement to have a voice locally Encourage participation and cooperation Business mentors 3.8 Training for volunteers, current business owners, organizations, staff and board Develop a comprehensive training program for staff and board Training and education staff, community partners and organization Cross training Documenting all procedures 3.9 Expanding services offered to businesses Help desk for business issues Library of resources video, webinars, training More tools for training, mentoring, and coaching for growing businesses i.e. milestones of hiring, moving. Blend of online and personal support Have separate program focuses for new and existing businesses (that have varying levels of knowledge/skills/needs) Providing online free training courses to help all business people would be helpful Offer topics specific to the needs of existing businesses i.e. some people to bounce ideas off in order to improve my business and take it to the next level. So that is different than say a business who needs financing, legal advice or wants to develop a business plan. EBRC could develop pathways or channels that people with different needs or at different stages can go to for the pathway that works best for them. Right now as a business owner, I am not sure exactly what EBRC offers to me. Having a topic specific menu to choose from could be helpful The small business program should be recognized as a starting point overview. After that there should be more in-depth strategic planning training put in place to help increase success rates of existing businesses 3.10 Raise awareness and increase engagement with youth/students More communication and recognition Make them aware of supplemented programs See values in schools for options School co-op programs are valuable high school and college Mentoring programs with business/youth programs Joining with Thames Valley District School Board (TVDSB) for program development and outreach co-ops, educate Tell guidance counsellors in schools about EBRC Offer business understanding, training, education to high school students/employees Appeal to the next generation of business owners Spearhead the next gen groups within a community to develop their leadership skills with specific focus towards community economic development Expand student program for example, counsellors visiting schools or open houses Technical student skills that businesses need STRATEGIC PLAN ENVIRONMENTAL SCAN PAGE 13

34 3.11 Work as a facilitator with community groups and their initiatives Provide grant application coaching Help Chambers and members move beyond cocktail hours to real discussions about talent development and talent retention Help form an Elgin Economic Think Tank Coordinate with County on priorities Provide a strong and implementable tool kit for governance structure for new and emerging community organizations Facilitating a community-level self-managed process for a new low-skill piecework venture employing non-english-speaking Mennonites in East Elgin More support for local projects i.e. Ojibwa/JA/Art trail with funding and in-kind support To engage the community and work with many different social organizations Be an initiator known to be open to ideas, possibilities 3.12 Promote mentoring through mentorship program and apprenticeships Business to business coaching and mentorship Engaging business leaders to mentor Students Youth helping teach other youth programs Apprenticeship approach for people new to the area, structured for practical and training Not your usual Adults (underemployed) Encourage clients to support and help each other 3.13 Develop a comprehensive remuneration package for staff 3.14 Bring people together for agreement on which to focus the limited resources Align local agencies to support agreed upon community development needs i.e. major hotel chain Business retention and expansion surveys (BR+E) to identify recurring issues and business challenges. Could be with partners Work more interactively with business advocates, e.g., working already with local county and chamber of commerce but perhaps with provincial or federal groups focused on growth of local businesses in areas outside province and country 3.15 Develop Staff/Board retention methods Diversity of a board and staff with skills and knowledge (youth, backgrounds, gender) Ensuring and enhancing staff capacity and versatility Maximize use of our expertise Staff appreciation Staff party Hire new staff STRATEGIC PLAN ENVIRONMENTAL SCAN PAGE 14