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204 Managing Customers Through Economic Cycles

The physical community

While during boom periods, businesses may not need to
look for partners and additional support, during bust periods
all avenues need to be explored. One such avenue that
should not be overlooked (especially by small businesses)
is that of community support.

This can come from nonprofit organizations, other for-
profit businesses, and from various levels of local govern-
ment. Whether a boom or a bust economic cycle, there is
no downside to leveraging the local government business
development and retention programs. During economic
transitions and downturns, there are many local and national
business development programs that are set up to assist
businesses in retaining and developing customers and
prospects.

To give a better understanding of what types of services
are likely available for businesses, a region in Canada cur-
rently has the Hants Regional Development Authority (Hants
RDA). The Hants Regional Development Authority is a
forward looking organization established to support and
advance community economic development in Hants County
in Nova Scotia, Canada. The Hants RDA works with busi-
nesses, community groups, and all three levels of govern-
ment to champion the interests of Hants County locally,
regionally, and internationally. While this organization is
primarily set up to help retain and expand its activity in the
region, its resources are relevant to a business’s customer
management challenges in economic transitions.

One of Hants RDA’s primary community-based economic
development strategies is a focus on “taking care of, nurtur-
ing and supporting” existing businesses. This strategy is
based on face-to-face interactions to understand the chal-
lenges, needs, and opportunities of each individual business
and then working with the businesses to tackle obstacles