HomeMy WebLinkAboutDSD-2024-062 - Provincial Funding Extension of Waterloo Region SBC
Development Services Department www.kitchener.ca
REPORT TO: Planning and Strategic Initiatives Committee
DATE OF MEETING: February 26, 2024
SUBMITTED BY: Cory Bluhm, Executive Director, Economic Development
519-741-2200 ext. 7065
PREPARED BY: Naudia Banton, Manager Small Business, 519-741-2605
WARD(S) INVOLVED: ALL
DATE OF REPORT: February 16, 2024
REPORT NO.: DSD-2024-062
SUBJECT: Provincial Funding Extension for Waterloo Region SBC
RECOMMENDATION:
That the Mayor and Clerk be authorized to sign a one-year extension to the funding agreement
with the Province of Ontario for the Waterloo Region Small Business Centre to deliver the
core business information services, Summer Company and Starter Company Plus 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 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:
The purpose of this report is to authorize an agreement with the City of Kitchener
Waterloo Region Small Business Centre and the Province of Ontario to extend the
current funding agreement to 2025.
The financial implications are the Waterloo Region Small Business Centre delivers a
series of programs funded by the Province of Ontario.
This report supports the delivery of a Vibrant Economy.
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
*** This information is available in accessible formats upon request. ***
Please call 519-741-2345 or TTY 1-866-969-9994 for assistance.
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.
REPORT:
The City of Kitchener (Waterloo Region Small Business Centre) has received funding from
the Province of Ontario since 1998. The current two-year agreement 2022 2024
included an option to extend the agreement until March of 2025. The funding agreement
will provide the Waterloo Region Small Business Centre with $456,552 annually. 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 grants 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
$3,000 for successful candidates.
Starter Company Program
entrepreneurial training, mentoring and grants 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.
Throughout the term of the agreement, WRSBC submits interim performance reports and
requests incremental disbursements bi-annually. Without the Provincial funding, the Small
Business Centre would be limited in the supports it could provide our community.
STRATEGIC PLAN ALIGNMENT:
This report supports A Vibrant Economy.
FINANCIAL IMPLICATIONS:
None. The provincial funding supports the Waterloo Region Small Business Centre core
business services, Summer Company and Starter Company Plus 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, approximately $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 WRSBC 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: Dan Chapman, Chief Administrative Officer
ATTACHMENTS:
None