HomeMy WebLinkAboutCAO-12-012 - Waterloo Region Small Business Centre - InformatioREPORT TO:
Finance and Corporate Services Committee
DATE OF MEETING:
March 19, 2012
Chris Farrell, Manager Waterloo Region Small Business Centre &
SUBMITTED BY:
Tim Clancy, CA, Board of Advisors
PREPARED BY:
Chris Farrell, Manager Waterloo Region Small Business Centre
WARD(S) INVOLVED:
All Wards
DATE OF REPORT:
February 28, 2012
REPORT NO.:
CAO-12-012
SUBJECT: Waterloo Region Small Business Centre - Information 2012
RECOMMENDATION:
For Information Only
BACKGROUND:
Waterloo Region Small Business Centre (WRSBC)
The Waterloo Region Small Business centre is a part of the Province of Ontario’s Small
Business Enterprise Centre Network and serves all industry sector small business clients from
pre-start up through five years of business. The Centre provides information, guidance and
consultation on a variety of issues to small business owners and individuals wishing to start and
run a business.
Core funding is provided by: the Ontario Ministry of Economic Development and Innovation, the
Region of Waterloo and the Cities of Kitchener, Cambridge and Waterloo. The Cities of
Kitchener (since 1999), Cambridge (since 2000), and Waterloo (since 2006) grant cash and in-
kind contributions by providing operational space and one full time employee in Cambridge and
Waterloo; the City of Kitchener provides operational space and a grant, however has four full
time employees. Overall the organization has 6 FTE operating within its 3 locations.
The funding model for the three municipalities is based on a 2:1 ratio, 2 (Kitchener) to 1
(Cambridge, Waterloo) per capita funding ratio formula. Secure core funding from municipal,
regional and provincial government ensures stability and accounts for 53% of total operating
revenue. Funding from public sector sponsors, fees for services and special projects account
for 47% of total revenue.
The organization is dedicated to diligent fiscal and operations management. The year ended
2011 reports a small surplus with total revenues $538,076 and total expenses $537,522. The
Waterloo Region Small Business Centre receives $76,575 annually from the City of Kitchener.
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REPORT:
ALIGNMENT WITH CITY OF KITCHENER STRATEGIC PLAN:
In the community The Centre is regarded as a one-stop-shop providing a wide array of business
services essential to aspiring entrepreneurs and small businesses, regardless of the industry sector
or stage of business development: “thinking”, “starting” or “growing”. The services benefit small
business operators, especially those with less than five employees who tend to have fewer
resources and limited or specialized knowledge.
The Waterloo Region Small Business Centre responds to over 15,000 general business inquires
(8,845 in Kitchener), provides one-on-one consultations with over 1,200 individuals, delivers over 75
small business workshops and organizes at least 10 small business events annually. Community
outreach to businesses, agencies and organizations, and educational institutions attracts continuous
intake individuals and entrepreneurs. The impact of our services in 2011 resulted in assisting with
705 start-ups (349 Kitchener) creating 794 FTE jobs (359 FTE Kitchener).
The Waterloo Region Small Business Centre aligns its goals with the City of Kitchener Economic
Development Strategy 2011-2015. In 2011 the WRSBC developed a strategic plan that outlined five
main areas of focus to ensure the future success of the organization and strengthen the local
economy. The areas of focus are as follows:
Start-Up City:
1) to be the first stop for business start-up ideas. To nurture innovative ideas by
providing programs and services that make it easy for entrepreneurs to get the support,
information and guidance required during early stages of development.
Skills Development:
2) to provide opportunities for talented entrepreneurs to develop new skills,
connect with professionals and experts on all industry sectors in an effort to contribute to the
sustainability of business ventures.
Collaborate:
3)to build upon business to business networks and partnerships, strengthening
private and public sector relationships and cross-cluster collaboration
Flexible Programs:
4) to adapt programs and services to meet the demands of emerging and
growing industry sectors within Waterloo Region.
Innovation:
5)to ensure delivery of innovative services for small businesses providing exceptional
value to both participants and sponsors, aligning with the mandate of the organization.
In 2012 WRSBC is responding to the emerging needs and industry sectors by offering:
Newcomer Small Business Networking: meets bi-monthly for New Canadian businesses
“How to Start a Food Business” at the Kitchener Market
“Interactive Digital Media Business Opportunities” – at Felt Lab, St. Jacobs
“Social Media Sessions”
“Retail Sales Strategies”
“Start-Up Weekend” - Summer Company Students
Access to Professionals – consultations with experts - Lawyer, Accountant, Marketing
FINANCIAL IMPLICATIONS: None
ACKNOWLEDGED BY:Rod Regier, Director of Economic Development
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