Webinar – Business Booster: Recruitment and Retention Tactics for a Vibrant Downtown

On October 2, 12 – 1 p.m., Virginia Main Street is offering a free webinar focused on encouraging business growth in your downtown and helping existing businesses keep their doors open.  

One of the of the primary responsibilities of a Main Street program is to boost the economic growth of the business district.  With the rise of online shopping and convenient apps, where do you put the attention and resources to make downtown the first choice for shopping and dining?  As competition increases to capture spending, it is critical that your program understand its competitive advantages and develop targeted strategies for a sustainable retail base in downtown.

Check out this free webinar to help your Main Street program move from identifying unique market opportunities to developing resources and tools that form the foundation for growing existing businesses and attraction new ones to your commercial district.

About the speaker:

Matt Wagner, Ph.D., Vice President of Revitalization Programs, National Main Street Center

Matt Wagner has more than 20 years of non-profit management experience in downtown development, entrepreneurship, and tech-based development.  At the National Main Street Center, Matt is leading the launch of the renewed and re-imagined Four Point Approach, as well as helping the Center reach new communities with this refreshed framework.  Overseeing the Field Services team, Matt also leads the Center’s efforts to expand technical service offerings, and offer preservation-based economic revitalization services directly to communities.

Register now for this event >>

 

Farmville Shopping - Courtesy of Virginia Tourism Corporation

Farmville Shopping – Courtesy of Virginia Tourism Corporation

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Five Things your Economic Vitality Committee can do Today to Support Downtown

In my Virginia Main Street wanderings and conversations with directors I’ve been hearing a common refrain – “What should our Economic Vitality committee be doing?” A thought provoking question that I am sure goes unasked more often than asked. As fate would have it I recently participated in a Hillary Greenberg webinar on supporting small businesses that provided me with a “lightbulb” moment. Sometimes our boards and committees get caught up in thinking big and miss some of the small, every day, right-in-front-of-your-nose kinds of things that could yield big results for the district.

    1. Is your downtown business friendly? The EV committee can review municipal codes, fees, permit processes and timelines – anything that pertains to establishing or growing a business in the Main Street district. Identify anything that would be a detriment to starting a business or fixing a building then work with the municipality on a making the code friendlier to small business.
    2. Help new businesses navigate the permit process. Now that the EV committee has a thorough understanding of all of the local hoops to jump through to open a business downtown, turn that information into a step-by-step guide for new business owners.
    3. Survey retailers and business owners. In person, with a flyer, online – ask the questions. What would help you to improve your business? Have some check boxes –
      • website development?
      • access to capital?
      • cooperative advertising?
      • loan pool?
      • new signage?
    4. Hold Retailer Round Tables. Use those survey responses to generate topics! One month bring in a marketing guru to discuss website content. The next month (or quarter) have the Promotions committee members come to talk about, and get feedback on, upcoming retailing events. Bring in an accountant to give a Quickbooks lesson. Respond to the retailer’s needs to help them grow their businesses.
    5. Create a Mentorship Network. Every district has those retailers and restaurateurs who are knocking it out of the park. Set up a network of successful business owners to work one-on-one with those that are struggling.

 

This is by no means an exhaustive list, but they are ideas that can be quickly assigned and implemented by a motivated EV committee that can make a real difference on the ground.

Does your EV committee do something innovative to improve downtown? We want to hear about it!

Virginia’s Craft Beer Scene is Booming

Governor Terry McAuliffe recently announced that Virginia is now home to 206 licensed breweries, a 468% growth since 2012, when the tasting room bill, SB604, passed the General Assembly. A newly released economic impact study shows that Virginia’s booming beer industry contributes more than $9.34 billion annually to Virginia’s economy.

“In addition to the direct economic impacts of manufacturing, the industry generates increased tourism-related revenues, provides new production and sales opportunities for our agricultural producers, and enhances community revitalization and development efforts in both rural and urban areas of the Commonwealth”, said Secretary of Commerce and Trade Todd Haymore.

This success story is close to home on Virginia’s Main Streets. One of the latest brewery additions is Sugar Hill Brewing Company in St. Paul, opened fall 2016.  The brewery added a much needed restaurant that is now a local favorite, a tourist destination, and a big economic boost to the small town. It complements the economic development strategy as an ecological and commercial hub – connecting downtown to hiking trails, off-road recreation, and summertime tube floats and kayaking on the Clinch River.

A frothy wave is crashing into our Main Street communities; one that is having a favorable impact on local opportunity, character, and spirits.  Check out more Virginia craft brewery offerings here >>

We’re unveiling more info for Downtown Intersections 2017!


More to come!


 

Downtown Intersections – Winchester – July 10-12, 2017

 

Creating a Successful “Entrepreneurial Ecosystem”

In Main Street districts, one of the best ways to fill vacancies, and prevent new ones, is to foster a setting that is attractive to entrepreneurs and where small businesses can thrive.  The buzz word nowadays for that setting is “entrepreneurial ecosystem,” which refers to the elements outside the individual that encourage entrepreneurship and increase the probability of a successful business following a launch.  That ecosystem is what attracts, or repels, a business from locating in an empty storefront.

entrepreneur-ecosystem

Entrepreneurial activity in the U.S. is up 60% and at its highest level since 2005, according to the newest Global Entrepreneurship Monitor (GEM U.S. Report) with retirees looking for a second career and younger adults driving the trend.  The market is ripe.

Energizing Entrepreneurs was developed by the Center for Rural Entrepreneurship to provide a roadmap for communities looking to build their own Entrepreneurial Ecosystems. It is a great resource for communities, organizations and individuals who want to learn:

  • Why it’s so important to become an entrepreneurial community;
  • The elements of a support system for entrepreneurs;
  • Assessment tools to develop a local strategy;
  • How to understand and connect to entrepreneurs; and
  • The importance of creating, measuring and sustaining local impact.

Exploring the opportunity is a first step and DHCD’s Building Entrepreneurial Economies program can support the effort!

Learn more >>

Local Incentives Drive Community Development

160914-manassas-ribbon-cutting

Manassas Ribbon Cutting

One of the most important ways that a municipality can support it’s small business community is through targeted financial incentives. A recent Potomac Local article touted the expansion of the city of Manassas’ business incentive programs, including Façade Improvement Grants and Landscape Improvement Grants. These incentives will assist with the exterior renovations and landscaping of existing commercial or industrial properties.  The new initiatives are designed to encourage business owners to reinvest in properties throughout the City and serve as a redevelopment tool intended to bring new life to older structures.  Each pilot program has been allocated $50,000 and property owners must agree to invest $2 for every $1 the City invests.

Incentives like these are used alone or as part of a package to retain and attract business to a Main Street district or generally catalyze projects.  They are often in the form of a grant or a zero- to low-interest loan to promote improvements and appropriate design.  Seed funding sources can come from Tax Increment Financing (TIF), bank partnerships, Community Development Block Grants (CDBG), municipal/county targeted funds, or private loans and grants.  Incentives can mean the difference between vacant storefronts and a vibrant downtown neighborhood.

Congratulations to Manassas!

Learn more >>

 

Can “Open Late” increase “Shop Local?”

ClosedSignIt’s an old problem and a pervasive one. In Main Street districts nationwide, small business owner’s are reluctant to be open late or on the weekends. As a consequence those who work 9-5 jobs outside of the district are unable to shop local. A recent Wyoming Business Report article takes a look at how Main Street businesses’ hours of operation could be a catalyst for shifting economic progress.

Store hours come up in conversations with Main Street advocates across the state and nationwide.  It’s a discussion topic that often ends with a collective sigh.  It’s a challenge to convince independent business owners to change, let alone an entire consumer group.

Writer Joel Funk highlights solutions from several Wyoming downtown professionals and the National Main Street Center’s Matt Wagner.  Business owners need people downtown to make it worth their while to stay open and, equally true, shoppers need businesses to be open to make it worth their while to come downtown.  A successful shift of store hours is reliant upon a relationship between the owner and consumer, encouraged by the local Main Street program’s market awareness and perseverance.

70% of all consumer spending (both locals and visitors) takes place after 6 p.m.  Tourism specialist Roger Brooks suggests starting the shift by working with businesses to stay open on Friday and Saturday until 7 p.m. the first year, then add additional days as merchant confidence and consumer habits change.

Be that catalyst to shift economic progress.  Start the conversation!