Business Retention and Expansion (BRE) projects can assist local businesses survive and grow in a regional community. Used around the world, BRE is a community driven process that helps communities to help themselves.

Studies have found that 60 to 80 per cent of all new jobs in a community are created through existing firms, and not through attracting new businesses to the region.

The BRE process uses the enthusiasm of community volunteers to discover the issues and opportunities for local businesses. The community can then develop economic development strategies that meet local needs. Ways to achieve this include:

• forming a local taskforce, with community volunteers and a facilitator
• interviewing local businesses on their issues, needs, perceptions and ideas
• using this data to take action on urgent business concerns and longer-term economic development issues.

BRE projects provide a flexible and cost-effective community-driven process that can be administered in a manner that suits the needs of individual communities. BRE projects generate community interest and input, assess local economic capacity, and develop economic development action plans.

In many cases the BRE projects are used as the cornerstone of an economic development strategy. The process involves identifying and building on a community's existing business base. Community leaders can use this information to encourage new entrepreneurs by giving locals the opportunity to fill identified gaps in the local economy.

Queensland communities including Charters Towers, Mary Valley, Nambour, Mundubbera and Monto have successfully undertaken Business Retention and Expansion projects.

BRE can help communities:

• show businesses that local people recognise and appreciate their contribution to the area's economy
• gather information on the impediments to local business growth
• improve understanding of the needs and perspectives of local businesses
• connect businesses to resources and assistance programs
• develop strategies and actions that will support economic development and growth in local employment
• increase community enthusiasm and capacity to become involved in other initiatives.

Business retention and expansion resources, detailing the program and success stories from communities that have undertaken the program are available.