HomeMy WebLinkAboutCAO-05-044 - 2006 Grant Request - Waterloo Region Small Business Centre
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KcTCHENER
Chief Administrator's
Office
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Report To:
Date of Meeting:
Submitted By:
Prepared By:
Ward(s) Involved:
Date of Report:
Report No.:
Subject:
Finance and Corporate Services
November 28, 2005
Rod Regier, Executive Director Economic Development
Kathy Weiss, Manager Business Development
All Wards
November 15, 2005
CAO-05-044
2006 GRANT REQUEST - WATERLOO REGION SMALL
BUSINESS CENTRE (SBC)
RECOMMENDATION:
That the City of Kitchener support the funding request in the amount of $50,000 for the 2006
fiscal year,
and further;
That the Mayor and Clerk be authorized to execute any necessary documentation required by
the City Solicitor.
BACKGROUND:
The Waterloo Region Small Business Centre (SBC) is a partnership of the local municipalities,
province and private sector sponsors and volunteers. Its goal is to provide essential services to
entrepreneurs and the small business sector in order to enhance the economic activity of this
region.
In 2003/2004, a three-year strategic plan was developed that outlined five main priorities to
ensure the future success of the SBC. They are as follows:
1. Stable Baseline Funding to be provided by the public sector sponsors
2. Increased Private Sector Funding, primarily for specific events
3. Begin Marketing to increase client visits
4. Enhance Client Services
5. Better Tracking and Measurement of Services
In 2004, it was recognized that a stable baseline funding model was required in order continue
to move the SBC forward on sound financial footing. It was proposed to all municipal and
regional councils that baseline funding be a secure investment with our public sector partners
and the Province on Ontario. This baseline funding will cover all administrative expenses
including salaries.
The funding model is based on a 2 (Kitchener) to 1 (Cambridge, Waterloo) per capita funding
ratio.
REPORT:
The Waterloo Region Small Business Centre has achieved many positive milestones throughout
2005, which have increased traffic, revenues and exposure for the SBC. Some of the highlights
include:
· A new name, logo and website.
· Record breaking attendance at our Seminars, Workshops and Lunch and Learns.
· A 3 year partnership with the Guelph BEC and the Perth/Wellington Community Futures
Program to deliver the Self Employment Benefit Program (SEB).
· A Summer Company pilot program with the Waterloo Region District School Board and
the Ministry of Economic Development and Trade that will see up to 5 high school
students receive $3,000 in grants and earn 2 credits towards their high school diplomas
· Hiring of a hired a marketing firm to develop a Marketing Strategy and Implementation
Plan, schedule for launching in Feb 2006, an initiative that had been non-existent to-date
Our current year end projections exceed that of our 2005 financial objectives and as a result
the 2006 funding request is being maintained at the 2005 levels for the City of Kitchener.
This still allows us to maintain our 2006 goals and projections. The following is the new
regional funding model being proposed to all councils:
Partner 2004 Actual 2005 Requested 2006 Proposed
Kitchener Cash $ 25,000 $ 50,000 $ 50,000
In-kind $ 87,800 $ 87,800 $ 90,434
Cambridoe Cash $ 6,031 $11,749 $ 11 ,749
In-kind $ 57,059 $ 65,751 $ 67,723
Waterloo (Cash) $ 50,000 $60,000 $ 75,000
Region $ 50,000 $ 50,000 $ 50,000
Province $ 60,000 $ 65,000 $ 70,000
Total $320,890 $378,551 $424, 999
Moving forward in 2006, new initiatives that will be implemented include:
· Extended hours
· Hiring new Business Advisor
· On-site representative at City of Waterloo
· Seminars in City of Waterloo
· Formal launch of new name, new programming, new initiatives, new marketing materials
· Develop partnership initiatives with regional libraries
FINANCIAL IMPLICATIONS:
An expense of $50,000
Kathy Weiss
Manager Business Development
Rod Regier
Executive Director, Econ. Dev.