Q&A
Evaluation of business retention and job creation metrics
0:17:51
·
164 sec
Council Member Amanda Farías questioned SBS about their methods for tracking business retention rates and measuring job creation. Key points include:
- SBS does not directly measure retention rates
- Focus is on ensuring high-quality service delivery and meeting business needs
- Emphasis on providing a comprehensive suite of services to small businesses
-
Discussion on the lack of direct measurement for program effectiveness in terms of business retention
-
The council member expressed concern about the lack of retention metrics and how this affects the evaluation of IBSP services' impact on business sustainability.
Amanda Farías
0:17:51
Thank you.
0:17:51
We've also been joined by council member Aviles.
0:17:56
And then how do you folks track business retention rates?
0:17:58
What metrics do you use to measure job creation and retention?
0:18:02
And then how do you evaluate the effectiveness of the different types of assistance that you folks are offering?
Kitty Chan
0:18:08
We don't measure, retention rates, but what we do is we ensure that our programs are providing high quality high quality service as well as making sure that we're actually meeting the needs of the business.
0:18:21
When I discussed our business consultations, you know, we we offer the full suite of SBS services whether it's, our pro bono legal services, our commercial lease assistance program, our incentives consultations, assistance in navigating government.
0:18:40
So what we've done is really what I feel is provided a really incredible suite of services to New York small businesses.
Amanda Farías
0:18:49
And then, I guess, for me, in terms of not measuring retention, how does that how do you folks then take in the feedback or the meetings that you're having with s with DCP, with EDC, IDA?
0:19:02
Like, folks that are able to then say, like, I'm I'm almost positive EDC, and DCP can go back to you and say, we've lost x amount of businesses.
0:19:11
If we're not looking at what services we're providing or the lack thereof, how are we effectively measuring whether what's impacting businesses to stay or the IBSP services that are provided?
Kitty Chan
0:19:23
So one of the things that we do thank thank you very much for that question.
0:19:27
One of the things that we do is actually make sure that we're we're measuring the success of our programs, working with our our sister agencies to make sure that we have meeting the needs.
0:19:41
We're always interested in learning more about our programs, making adjustments as needed.
0:19:46
And then, again, at this point, SBS is providing assistance to more businesses than ever.
0:19:54
I'm really proud of what we do.
0:19:57
Our New York City, Business Express Services team, they've helped to cut tens of 1,000,000 of dollars for small business owners by education.
0:20:08
And that's the most important thing here at SBS is s p is education first.
0:20:13
We find that a lot of businesses are not even aware of things.
0:20:16
So, for example, we you know, when we learn about a program, we make sure that all of our providers are aware of of the of the not only the program, but we provide them with technical assistance afterwards to ensure that if they get any questions, we're answering them in real time for all of them.
