HomeMy WebLinkAboutCAO-13-008 - Waterloo Region Small Business Centre - Information 2013
REPORT TO:
Council
DATE OF MEETING:
April 29, 2013
SUBMITTED BY:
Chris Farrell, Manager Waterloo Region Small Business Centre
PREPARED BY:
Chris Farrell, Manager Waterloo Region Small Business Centre
WARD(S) INVOLVED:
All Wards
DATE OF REPORT:
April 19, 2013
REPORT NO: CAO-13-008
SUBJECT:
Waterloo Region Small Business Centre - Information 2013
RECOMMENDATION:
For Information Only
BACKGROUND:
Waterloo Region Small Business Centre (WRSBC)
The Waterloo Region Small Business Centre is one of the Province of Ontario’s fifty seven
Small Business Enterprise Centres. The Centre serves all industry sectors of 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 Trade and
Employment and Ministry of Research 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 and has four-full time employees. Overall, the organization has
six full-time equivalent positions operating within its three locations.
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 governed by a Board of Advisors dedicated to diligent fiscal and operational
management. The 2012 year ended with total revenues of $498,522, total expenses of
$491,582 and a surplus of $6,940 (due to a staff medical leave). The Waterloo Region Small
Business Centre receives $77,464 from the City of Kitchener.
4 (c) - 1
REPORT:
ALIGNMENT WITH CITY OF KITCHENER STRATEGIC PLAN:
In the community, the Centre is regarded as a one-stop-shop for businesses, providing a wide array
of business services essential to aspiring entrepreneurs and small businesses regardless of the
industry sector or stage of business development. The services benefit small business operators,
especially those with less than five employees who tend to have fewer resources and limited or
specialized knowledge. Fact: 78% of businesses have fewer than five employees.
In 2012 the Waterloo Region Small Business Centre responds to:
15,400 general business inquiries (9,377 in Kitchener)
provides over 1,050 individuals with one-on-one business consultations
delivers over 100 small business workshops
organizes at least 10 small business events annually.
The impact of our services in 2012 resulted in assisting 427 start-ups (216 Kitchener), creating 464
FTE jobs (247 FTE Kitchener). The Centre actively engages in many community and business
functions to collaborate with its services with corporate partners, agencies and organizations and
educational institutions.
The Waterloo Region Small Business Centre aligns its goals with the City of Kitchener Economic
Development Strategy 2011-2015. 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 2013, 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
“Social Media Summit” Event and “Social Media Clinics”
“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
4 (c) - 2