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Economic Relief Program

Published in: Business, Real Estate
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  1. 1. And the County’s Economic Relief Program The Busway Extension to Florida City Project Transit
  2. 2. A pilot program developed by Miami-Dade Transit, the office of the County Mayor and County Commissioners in order to aid business owners impacted by the Busway Extension to Florida City What is the Economic Relief Program?
  3. 3. What Does the Economic Relief Program Provide? On-site loan application assistance and referral services Installation of business entrance signs Tips for businesses on how to lessen the impact of roadway construction projects. Establishes partnerships between businesses and sources of assistance.
  4. 4. Behind the Scenes He has worked with over 200 small businesses worldwide from Argentina to Russia He has assisted businesses during urban conflicts, natural disasters, wars, and disruptions. Bob Anderson was formerly a consultant to the project field team to assist businesses impacted by the Busway Extension and US-1 Reconstruction project
  5. 5. Local Business Landscape About 70,000 businesses in Miami-Dade County have less than five employees – Beacon Council The project area is dominated by small businesses 75% of Florida businesses employ less than 20 people and 68% less than 10 - SBA 50% of small businesses fail in the first year and 95% in the first five years - SBA
  6. 6. Reasons for Business Failure <ul><li>Lack of experience </li></ul><ul><li>Lack of $$$ </li></ul><ul><li>Poor location </li></ul><ul><li>Poor inventory management </li></ul><ul><li>Over investment in fixed assets </li></ul><ul><li>Poor credit arrangements </li></ul><ul><li>Misuse of business funds </li></ul><ul><li>Unexpected growth </li></ul><ul><li>Competition </li></ul><ul><li>Low sales </li></ul>
  7. 7. Top 10 Tips To lessen the impact on your business during Roadway Construction
  8. 8. 1. Become Familiar with the Project Meet with Scott Brand, the project’s Public Information Officer to learn about the project Plan and make preparations before construction begins Determine alternate routes to reach your business Inform your customers
  9. 9. 2. Review Your Financial Situation Talk with your bank, will they work with you? Will your lender postpone or reduce payments during the project? Find out before construction begins. Make financial preparations before the project gets to you. Check with your accountant
  10. 10. 3. Do Aggressive Marketing Hire students to hand out business fliers around town Participate in local events Collect e-mail address for a free e-mail blast Co-op with nearby businesses Grassroots:
  11. 11. 3. More Aggressive Marketing Find new distribution channels Obtain lists of new occupational licenses Get a list of new residents Prepare a direct mail campaign Have a special “construction” promotions Hire a sales person
  12. 12. 4. Go to Your Customers When customers avoid roadways during construction, perhaps you can make provisions to provide door-to-door service to your customers Offer free pick-up and delivery
  13. 13. 5. Become Active with Local Chambers
  14. 14. 6. Make Adjustments to Your Business Schedule vacations when business is slow Encourage time off for: <ul><li>Education </li></ul><ul><li>Personal reasons </li></ul><ul><li>Military duty </li></ul>Consider renovations
  15. 15. 7. Look Open Keep your business area inviting to customers Pick up trash and litter-even if it’s not yours Don’t let the area around you prevent your place of business from looking neat and tidy
  16. 16. 8. Request Business Entrance Signs Call Scott Brand at (305) 242-7232
  17. 17. 9. Can Construction Workers be Your Customers? What service or product can you offer so that they will patronize your business Be friendly, they are not your enemy
  18. 18. 10. Keep a Positive Attitude People like to do business with happy, pleasant people Don’t whine and complain to your customers Treat people the way you would like to be treated
  19. 19. The Countywide Business Road Impact Assistance Loan Program Provides up to $25,000 Low interest rate Payment begins within 6 months and can continue for five year term Business must prove year to year adverse financial impact directly related to the specific County Improvement Project
  20. 20. What can the City of Homestead do to help businesses during construction? Implement a sign relaxation ordinance for those businesses which will be affected by the project construction, similar to the one in effect during races