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HomeMy WebLinkAboutDSD-2022-099 - Provincial Funding Agreement 2022-2024 Development Services Department www.kitchener.ca REPORT TO: Community and Infrastructure Services Committee DATE OF MEETING: March 7, 2022 SUBMITTED BY: Cory Bluhm, Executive Director, Economic Development 519-741-2200 ext. 7065 PREPARED BY: Chris Farrell, Manager Small Business, 519-741-2200 ext. 7294 WARD(S) INVOLVED: ALL DATE OF REPORT: February 16, 2022 REPORT NO.: DSD-2022-099 SUBJECT: Provincial Funding Agreement 2022-2024 RECOMMENDATION: That the Mayor and Clerk be authorized to sign a two-year funding agreement with the Province of Ontario for the Small Business Centre to deliver the core business information services, summer company and starter company programs. Said agreement to be to the satisfaction of the City Solicitor; and That the General Manager, Development Services be authorized to execute on behalf of the City of Kitchener any amendments to the two-year funding agreement provided such amendments are to the satisfaction of the City Solicitor; and further, That the Manager, Waterloo Region Small Business Centre, and the Executive Director, Economic Development, be delegated authority to execute recipient grant agreements to the satisfaction of the City Solicitor for the Starter Company Plus and Summer Company programs. REPORT HIGHLIGHTS: This report supports the delivery of core services. BACKGROUND: The Waterloo Region Small Business Centre (WRSBC) provides thousands of entrepreneurs with the training and support necessary to start and grow successful businesses. From concept, through start-up and early growth stages of business, the Centre is a one-stop source for information, guidance and professional advice on starting and running a successful business. Servicing individuals of all ages, educational and cultural backgrounds and businesses from all industry sectors at all stages of business WRSBC is one of 54 centres in Ontario supported by the province. *** This information is available in accessible formats upon request. *** Please call 519-741-2345 or TTY 1-866-969-9994 for assistance. The Kitchener Waterloo Region Small Business Centre acts as the business headquarters, coordinating marketing, programs, and funding. Kitchener has four employees, while the Cambridge and Waterloo satellite offices each have one employee paid by their respective municipality. WRSBC sources of funding include: The Ontario Ministry of Economic Development Job Creation and Trade Cities of Kitchener, Cambridge and Waterloo Region of Waterloo Other sources of revenue include: Special Projects/Programs and Event Fees The City of Kitchener (Waterloo Region Small Business Centre) has received funding from the Province of Ontario since 1998. The two-year agreement 2022 2024 ensures together to help entrepreneurs start and grow a business. REPORT: The provincial funding agreement with the City of Kitchener and the Ministry of Economic Development Job Creation and Trade will provide the Waterloo Region Small Business Centre with $456,552 annually for each of the two years ($913,104 total). The funds support: Core Business Services: one-on-one business consultations, workshops and events, assistance with market research, business and marketing plans, information to navigating government departments, agencies and regulations assistance with registering a provincial master business license community outreach activities The funding supports two full-time jobs, program delivery and grants expenses. Summer Company Program: entrepreneurial training, mentoring and grant for students age 15-29 starting and running a business over the summer, eligible students must be returning to school. The funding supports one part-time job, program expenses and a grant of up to $3000 for successful candidates. Starter Company Program entrepreneurial training, mentoring and grant for start-ups and growth companies. The funding supports one part-time job, expenses and a grant of up to $5,000 for successful candidates. WRSBC has delivered the Summer Company program since 2001 and the Starter Company businesses, the expansion of existing businesses, leveraged investments and job creation. Throughout the term of the agreement, WRSBC submits interim performance reports and requests incremental disbursements bi-annually. In the past, there have been opportunities to apply for additional funding during the term of the agreement; itis important to respond to these opportunities in a timely manner. The small business centre collects and reports economic impact data to the province. 9ĭƚƓƚƒźĭ LƒƦğĭƷ ЋЉЊВ ЋЉЋЉ ЋЉЋЉ LƓƨǒźƩźĻƭ ЊЏͲЌАА ЋЍͲЉЊЌ ЋЌͲВВЏ .ǒƭźƓĻƭƭ {ƷğƩƷĻķ ЏЍВ ЌЍЎ ЊВЌ .ǒƭźƓĻƭƭ 9ǣƦğƓķĻķ АЎ WƚĬƭ БАЌ ЍВЋ ЌАЉ hƓĻΏƚƓΏhƓĻ /ƚƓƭǒƌƷğƷźƚƓƭ ЊͲЎЏЎ ЋͲЏЏЏ ЋͲЉАЌ ‘ƚƩƉƭŷƚƦƭ ЋЏЊ ЊБЉ ЋЌЉ 9ǝĻƓƷƭ ЎА ЊЋ Ќ {ƷğƩƷĻƩ /ƚƒƦğƓǤ tğƩƷźĭźƦğƓƷƭ ЎЋ ЎВ ЍЎ DƩğƓƷƭ ЌЌ ЍЋ ЌЎ {ǒƒƒĻƩ /ƚƒƦğƓǤ tğƩƷźĭźƦğƓƷƭ ЋЋ Џ А DƩğƓƷƭ ЋЊ Џ А STRATEGIC PLAN ALIGNMENT: This report supports A Vibrant Economy. FINANCIAL IMPLICATIONS: None. The provincial funding supports the Small Business Centre core business services, summer company and starter company programs. The proposed agreement would provide funding to support programming in the following ways: Small Business Centre Program Provincial Funding (Annually) SBC Core Services $177,552 Starter Company Plus $175,000 Summer Company $104,000 TOTAL $456,552 Of the annual funding noted above, $191,000 would be used to provide grants to small businesses. COMMUNITY ENGAGEMENT: Entrepreneurship and innovation contribute to economic growth in the community. The Centre provides programs and services that support and complement other community entrepreneurial initiatives essential to small business commercialisation within the Waterloo Region ecosystem. CONSULT: WRSBC conducts over ten surveys annually with small businesses to get feedback and suggestions for service and program improvements. COLLABORATE Waterloo Region Small Business Centre communicates, consults and collaborates with a broad range of community groups, organizations, agencies, secondary and post-secondary institutes, municipal, regional and provincial governments to ensure the entrepreneurial services and programs address the needs of small businesses in the community. The Small Business Advisory Committee volunteers represent twelve industry sectors across the region. INFORM the council / committee meeting. APPROVED BY: Justin Readman, General Manager of Development Services ATTACHMENTS: None