What is a Business Walk?
A Business Walk is an economic development initiative that, in a short amount of time, allows local leaders to get the pulse of how a business community is doing. The information gathered is then used to help advocate for the business community as a whole, and is also used by economic professionals to identify which businesses require further outreach.
Why were Business Walks developed?
The initiative was created because economic development professionals realized there was a need for Business Retention and Expansion (BRE) on a large scale. However, many economic development organizations simply lack the time and resources to do it all alone. To that end, Business Walks can be used to help you quickly identify individual businesses, which are facing threats and/or opportunities, thereby necessitating further contact to direct them to appropriate resources. The program was developed not to replace traditional BRE outreach but to enhance it, serving as an entry-level opportunity for BRE efforts.
Part 2: How does it work? Why have one in your community?