Examining Barriers to Business in Local Economies
When communities seek to boost employment, attract industry investment, increase tax revenue, or diversify their economic base, the typical question is: “How can we attract new businesses?”
Too often, however, an equally critical question is overlooked: “What barriers currently discourage business growth or relocation within our community?” A lack of inward-focused analysis can lead to missed opportunities for low-cost, high-impact improvements.
NOVACES Innovation:
At NOVACES, we recognize that removing existing barriers to business growth is often more effective—and less costly or risky—than offering incentives to attract new companies. Our team conducts in-depth, localized research to identify the specific regulatory, operational, or infrastructure-related obstacles that hinder business development in a region. This data gives leaders the insights needed to implement targeted strategies that create a more business-friendly environment.
Client Breakthroughs:
By shifting the focus from external attraction to internal improvement, NOVACES delivers strategic guidance that enables state and local governments, economic development agencies, and municipalities to reduce or eliminate key barriers. The result is a stronger value proposition for business investment and faster economic gains.
Learn More
To discover how data-driven insights can support your region’s economic growth and planning initiatives, contact us (link) today to speak with a NOVACES representative.