IPG to survey businesses, develop retention plan

The city's economic development arm is moving forward with its plan to devote some of its focus to helping local businesses stay local.

On Monday, Initiatives Prince George (IPG) will begin surveying about 200 businesses as part of the research phase of creating their new business retention and expansion program.

"An important strategic focus of IPG is to facilitate the growth of existing businesses because we know that the majority of economic growth in Prince George comes from businesses that are already invested in our city," said IPG CEO Heather Oland, in a press release. "The input provided by business owners who complete the interviews will give us the information we need to create a strategic and sustainable business retention and expansion program that best meets the needs of local business."

The 40- to 60-minute interviews were designed to help IPG understand and address business needs, opportunities and challenges in order to help local businesses increase their competitiveness and should be completed by the end of August.

An independent consultant will use the information to provide recommendations and strategies for the new program's development. A final report will be released publicly this fall, but individuals who participated and their responses will remain confidential. IPG plans to put the program into practice in early 2015.

Business owners interested in taking part should contact IPG business development officer Neil O'Farrell at [email protected] or 250-649-3205.

The local business focus is relatively new for the organization. Last November, Oland and an IPG board member approached city council's finance and audit committee to float an ultimately unsuccessful request for a 2.5 per cent budget increase, partially to help fund the new venture.

IPG is also helping downtown businesses take a closer look at trends and patterns in the city centre by teaming up with the the Downtown Business Improvement Association to conduct an occupancy study.

The study completed in 2013 provided interesting data, but it wasn't particularly useful, said DBIA director Carla Johnston. However, she said, using last year's data as a benchmark will allow them to see where changes have happened.

"What that does is basically provide us with information we can use with an eye towards business development... and right now, in all things marketing at IPG they are highlighting the downtown as the place to do business," Johnston said. "It will help us understand how we want to tailor the perspectives for the downtown: is demand increasing, is demand decreasing? And there's also a lot of qualitative data in there. What kinds of buildings are vacant?"

The results of this year's DBIA occupancy study should be complete by September.