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HomeMy WebLinkAbout2024-09-24; Economic Development Subcommittee; 03; Small Business Liaison Program UpdateMeeting Date:Sept. 24, 2024 To: Economic Development Subcommittee From: Matt Sanford, Economic Development Director Staff Contact: Matt Sanford, Economic Development Director matt.sanford@carlsbadca.gov, 442-339-5987 Subject: Small Business Liaison Program Update Recommended Action Receive an informational report on the implementation of the Small Business Liaison (SBL) Program, discuss and provide recommendations. Executive Summary The first pillar of the City of Carlsbad’s Economic Development Strategic Plan emphasizes the support of small businesses, startups, and entrepreneurs. Significant progress has been made toward this objective through the development of targeted programs and the implementation of strategic initiatives. As part of the strategic actions approved by the City Council for the fiscal year 2024-25 during the annual budget process, the establishment of the SBL Program was prioritized. Originally slated for fiscal year 2025-26, the SBL Program was fast-tracked at the recommendation of the Economic Development Subcommittee to fiscal year 2024-25. This decision was influenced by feedback from the small business community, indicating a need for enhanced support services and access to resources. The program will feature a dedicated staff liaison and the development of comprehensive elements to provide tailored resources and assistance to Carlsbad’s small businesses. This report outlines the progress made in developing the SBL Program and provides an opportunity for input and feedback from subcommittee members prior to its implementation. Explanation and Analysis Definition of Small Businesses The Small Business Administration (SBA) defines a small business as an entity with fewer than 1,500 employees and less than $41.5 million in annual revenue, though the definition varies by industry. In Carlsbad, this definition would capture 99% of all businesses, so a different threshold is more appropriate. ECONOMIC DEVELOPMENT SUBCOMMITTEE Sept. 24, 2024 Item #3 Page 1 of 4 The City of Carlsbad’s business license data shows that 85% of businesses in the local economy have fewer than 10 employees, with more than 5,200 employing five or fewer workers. To support this significant portion of the business community, the SBL Program is designed to assist Carlsbad businesses with approximately 10 or fewer employees. Program Overview Small business support programs in other cities, such as San Diego's Small Business Enhancement Program, San Jose’s Small Business Liaison, and Long Beach's BizCare Program, have demonstrated the value of providing tailored resources and a dedicated liaison for small businesses. These initiatives have seen positive outcomes, including increased business retention, small business survivability, and streamlined access to services. Carlsbad’s SBL Program will support the growth and sustainability of small businesses, which make up the vast majority of Carlsbad’s business community. It focuses on two primary areas of support. 1. Individualized business assistance through a dedicated staff member, serving as a single point of contact for business owners. This liaison will help businesses navigate city processes and connect them with essential resources. 2. A comprehensive digital resource hub, providing businesses with easy access to information and tools such as funding opportunities and training resources, enabling them to acquire relevant knowledge independently. Sept. 24, 2024 Item #3 Page 2 of 4 By simplifying city processes, providing direct access to resources, and improving communication, the SBL Program will align with the city’s organizational and economic development goals, strengthening Carlsbad’s small business community. This program, outlined in the Economic Development Strategic Plan, also supports the City Council's commitment to fostering a business-friendly environment. Direct Small Business Support Program staff will act as a bridge between small businesses, city staff, and external resource providers. While assisting businesses with city processes, staff will offer personalized guidance, ensuring each business receives the specific help it needs. Recognizing that many small business resources come from external partners—such as chambers, trade organizations, and financing groups—staff will also facilitate connections to these organizations, mentors, and consulting services. Staff will host workshops featuring representatives from city departments to provide small businesses with firsthand knowledge of how to navigate applicable city processes. These sessions will encourage collaboration and knowledge-sharing between city departments and the small business community. Strengthening partnerships between small businesses and external organizations will also be a key focus. By working with local and regional business organizations and industry associations, staff will create a network of support, providing Carlsbad small businesses with access to a wider range of resources and growth opportunities. Digital Resource Hub Development If SBL program staff were to work with a new small business every day, they could assist roughly 5% of the total small businesses in the city annually. Therefore, a programmatic approach is necessary to support the entire small business ecosystem. The second initiative for the SBL Program is the development of a user-friendly Digital Resource Hub, a central library of resources, tools, and guidance. The hub will clarify city processes, enhance communication, and create an efficient way for businesses to access support. To ensure the hub meets the needs of businesses, staff have cataloged existing resources from city departments, gathered insights from business-facing staff, and consulted small business owners and external stakeholders to address common challenges. The goal is to equip small businesses with the tools and knowledge to independently access resources that improve their operations and competitiveness. This will be featured as a "Small Business Hub" page on the city’s website and will serve as a one- stop shop for information. Included digital tools will provide insights into market analysis and best practices for small businesses in various industries. The hub will also promote awareness of grants Sept. 24, 2024 Item #3 Page 3 of 4 and loans from federal, state, and local organizations to ensure businesses are informed of all available funding opportunities. Staff will ensure the digital hub is regularly updated to provide a reliable and ongoing source of support for the small business community. Program Implementation Timeline Since the start of the fiscal year, staff have focused on gathering information to establish a strong foundation for the SBL Program. This phase involved defining the program’s structure, clarifying roles and responsibilities, and evaluating tools to convey information to businesses. A comprehensive outreach plan has also been developed to ensure effective communication with local business associations, educational organizations, and internal departments. The next phase, expected to take three to four months, will focus on developing the online resource hub, launching initial workshops and webinars, and beginning direct support for businesses. Full implementation, including all resources discussed, is projected to begin in January or February 2025. Outreach and Communication Strategy A comprehensive approach to outreach and communication will be implemented to ensure that Carlsbad small businesses are aware of the resources offered by the SBL Program. This strategy will include email newsletters, presentations and materials to the Carlsbad Chamber of Commerce and Carlsbad Village Association, along with targeted social media campaigns, and participation in business-related community events. Program Evaluation To measure the success of the SBL Program, staff will monitor several key metrics. A baseline will be established by the end of the fiscal year, allowing for a comprehensive evaluation of the program’s impact and informing future efforts. Finally, as staff engage directly with businesses, they will gather feedback to help improve internal collaboration and develop best practices for business support. Staff will also track and share success stories from Carlsbad small businesses that benefit from the program. Fiscal Analysis This action has no financial impact. Next Steps Staff will incorporate feedback from subcommittee members and begin implementation of the SBL Program. Exhibits None Sept. 24, 2024 Item #3 Page 4 of 4