THE BENEFITS OF BUSINESS RETENTION AND EXPANSION PROGRAMS
The primary sources of job growth exist in every community:
Existing business expansions account for 80%
Incoming new businesses account for 11%
And start-up operations account for 9%
WHY WE SHOULD SUPPORT EXISTING BUSINESSES:
Existing businesses provide even more return on investment in smaller, rural market areas where entrepreneurial and recruitment opportunities are limited.
While customer attrition is a fact of life in both the private and public sectors, it's 10 times more cost-effective to work with existing customers than to continually cultivate new ones.
Business retention and expansion provide the customer -- the existing private sector firm in your market area -- with a seamless customer contact and service experience.
Less than 10% of business closures result from business failures. More than 90% are caused by work movement through mergers, consolidation, restructuring and deliberate decisions to relocate businesses.
DISCOVER HOW AMARILLO CAN HELP YOUR BUSINESS SUCCEED