Page 21 - FDI Alliance International Magazine Summer 2020 Digital Interactive Issue

→ DEMONSTRATING RESILIENCE

HOW ECONOMIC DEVELOPERS HAVE PIVOTED TO

SUPPORT BUSINESS DURING COVID-19

In an instant, the wheels ground to a halt. The addressed by the financial aid that was available. in advocacy to senior levels of government. The
momentum that many cities and countries had As each week clicked by without reprieve, they result was a first of its kind collaboration in the
created related to international investment interest watched as revenues dropped while operating City which broke down agency silos and brought what shared challenges also were of greatest Sure, the financial element spoke to some of the globe, we all still face an uncertain future. As we
was suddenly disrupted with the cancellation of expenses remained unchanged. With reports in together groups that had historically not worked concern to their respective memberships. While most pressing needs of small business owners continue to monitor and adapt to ever-changing
international flights, the closure or borders and the Canadian media suggesting that as many together before. it was understood that many merchants would and relief grants of up to $2,500 were made information surrounding the present pandemic,
even the opportunity to meet face to face, where as 74% of small businesses would not survive be interested in an opportunity for grant funding, available by application to the coalition. Though we can recognize that we may still be months
business relationships have most commonly been the pandemic period, there was a need to take The Abbotsford Business Community Coalition it was also critical to recognize that as these the individual grant amount seemed small, it’s and perhaps years away from a full return to
built. A global pandemic which has interrupted measurable action in support of business. (ABCC) brought together the local Chamber of funding streams were going to be generated impact was found to be overwhelmingly positive business as we’ve known it. And just as many
economies around the globe introduced a new Commerce, Downtown Business Association, among the coalition partners, that we needed to for the recipients. public and private firms are more fully embracing
slate of considerations for business – and with Many communities launched ‘Support local’ Indo-Canadian Business Association, University bring something more than money to the table. the concept of remote work environments and
new rules dictated by government agencies at a marketing campaigns designed to direct traffic of the Fraser Valley, Abbotsford Tech District, “This makes a big difference for small businesses virtual connectivity through a variety of web-
Provincial and Federal level, it created a need for to local independent businesses. These included the Tourism Society, local media outlets, as well Sure, small businesses were feeling the financial like mine,” said grant recipient Josh Reynolds based platforms, we will continue to see one of
a re-focus of our efforts. spotlight pieces in media, or websites developed as City Economic Development and external pinch and there was an opportunity to create a of Illustrate Collective. “The money helps, but the most aggressive disruptions in recent years
to showcase the hours and accommodations funding and support agencies with a focus on small pool of emergency relief grant funding for it’s also reassuring just to be reminded that the that is shaping the future of business.
With investment activity interrupted, it brought to made by local merchants to still remain in creating solutions for the business community. those merchants. But the survival of a business business community has our back.”
focus the crisis situation for many entrepreneurs operation and provide services to their clientele. The program, which pooled resources and expertise would not be reliant on covering the equivalent of For economic developers, we have been able
and even long-time business owners already looked to support businesses in two ways. one month’s rent or routine operating expenses such At the City’s Economic Development office, the to provide service while working from a new set
invested in the community. Entire industry sectors As a City, in Abbotsford, British Columbia, we as utilities. We also wanted to help those companies strategy focused largely on how existing tools of protocols and connecting through mediums
were put on hold – airlines, hotels, amusement looked at how best we could align with the business Crossing streams, it was easy to see where the to build their own capacity, particularly where there could be used to the benefit of the business regularly that maybe we hadn’t before. We
parks, hair salons, night clubs, concerts and events community and demonstrate meaningful common ground existed across the mandates was a needed pivot to an e-commerce avenue community. By adding an additional layer to the may well discover that we are better prepared
were suspended or seriously compromised. New support for their plight beyond our continued role of the multiple organizations at the table and with online purchasing, delivery and other City’s existing site finder GIS mapping system, the to engage in investment attraction on an
health edicts for social distancing and reduced alternatives that reduced the reliance on foot department was able to plot the location of open international level using the virtual tools that we’ve
capacity spurred the short term closure of many traffic into their physical retail spaces. businesses, share their hours and visually illustrate had an opportunity to master while supporting
independent shops and services who did not what vendors were open in each neighborhood our existing business community.
have the space to adapt to the new measures, The coalition developed a website which brought to help citizens comply with health orders and
or the financial capacity to implement the all of the needed resources to a single, easy limit their travel and interactions. “It is not the strongest of the species that survives,
needed changes. Restaurants forced to reduce to navigate portal. Not only did this help to nor the most intelligent, but the one most
occupancy were struggling to balance the ledger streamline where the latest health orders and But despite the collective efforts and best practices responsive to change.”
and still ensure that their business maintained regulations could be found, it also included of economic development agencies around the – Charles Darwin, 1809.
the necessary cash flow. But perhaps even more links to the national business resilience network,
challenging for business owners continues to be Provincial economic development association
that the timeline for a return to business as usual tools and resources, and other agencies that had
is yet undetermined. a mandate to support local economic recovery. VERN MAY
ECONOMIC DEVELOPMENT MANAGER
The coalition also engaged in a summer-long, multi-
While governments were quick to respond with platform media campaign and commissioned a Tel: 604.851.4173 Cell: 778.878.5373
stimulus programs and income assistance for video to promote that businesses were in fact re-
individuals who were out of work due to the pandemic opened and encouraged citizens to discover how ABBOTSFORD vmay@abbotsford.ca
situation, and programs were announced to support businesses had been able to adapt to provide
business with wage subsidies and rent allowances, service and still address public sensitivities over @AbbotsfordEcDev
there were still a number of merchants who did the risk of potential contagion.
not qualify or whose needs could not be readily
21. FDI ALLIANCE INTERNATIONAL