I live in a small town; a beach town with a population of roughly 3,000 souls. In doing research for this project, I was having a difficult time looking for a single company or business that could benefit from performing a SWOT analysis and in lieu, an event to better benefit the establishment. So, because of this, I chose the Colonial Beach Chamber of Commerce. According to Investopedia, a chamber of commerce is an association or network of businesspeople designed to promote and protect the interests of its members. In short, the chamber of commerce directs and manages the smaller businesses of a local community. A chamber is essentially a network of smaller businesses all in it for the same goal, investment in the community by means of providing income and services for the community.
I decided to perform a SWOT Analysis of the Colonial Beach Chamber of Commerce in hopes that it would also be a SWOT Analysis for the town itself. According to Paula Jensen of Small Biz Survival, rural America and small towns are dying. Many towns have had to refocus their economical strategies to survive. She has also stated and I quote, “I am here to tell you that this kind of local development is realistic and beginning to take hold in many small communities because they are investing in themselves.” I see this kind of investment happening in several towns surrounding my own. Main street revitalization projects are improving the livelihood and well-being of several communities in the region, which had for centuries relied on agriculture and tourism as the main sources of revenue. With the decline of mid-level farmers and the loss of viable farmland, as according to the Virginia Cooperative Extension, I believe our area must look to tourism to survive.
SWOT Analysis
Strengths:
1. Offers Business Education curriculums to help entrepreneurs establish a business in the town successfully.
2. Utilizes the town’s public water and beach access for tourism, which was voted the #1 beach in Virginia by USA Today
3. Utilizes the town’s status as a suburb of the Washington Metro Area and vicinity to several historical sites and landmarks.
Opportunities:
1. There are dozens of vacant commercial units and properties that are readily available for new businesses, the chamber should advertise these within a 50-mile radius.
2. There are grants provided by the state of Virginia for main street revitalization, the town should apply for these funds.
3. Solutions needed to provide revenue in the winter; goal of continuing the revenue from the summer.
Weaknesses:
1. Victim of seasonal tourism; the town population could swell up to nearly 15,000 visitors during the summer vacation months but drops back down to the 3,000 during winter months.
2. Paid public parking; while this is a source of revenue, it can discourage day-trippers from coming back to the town.
3. Despite having a chamber of commerce and readily available trainings, the town seems to lack new businesses.
Threats:
1. High taxes for personal and commercial properties as well as strict policies for opening a business in the first place
2. Lack of effective leadership, constant complaints from townspeople of the local government mishandling funds
3. Loss of tourism due to constant bad reviews and dissatisfaction of their stay.
Rationale and Event Proposal
For the chamber to attract visitors to the town through tourism and consumerism, I propose that an event should be held on the town green that will bring in such a crowd. The Colonial Beach Chamber of Commerce should hold and promote an outdoor vendor mall during the slower spring and autumn months. The mall would showcase the already existing businesses in the community, including businesses conducted solely over the internet and out of the homes of the proprietors. The chamber should have a large booth/tent showcasing all the available information regarding the business education curriculum that teaches how to open a business. showcasing all the available commercial units and properties already available and ready for business. Food should provide via independent food vendors and entertainment should be showcased by invited independent artists for an Open-Mic Festival. This would be an addition attract for the younger, more eager generation.
I believe that this event would greatly benefit the town of Colonial Beach. It is within their capabilities of doing as we have had concerts and bazaars in the past. I also believe that this would greatly impact the Chamber as it will highlight all the things the chamber can do to assist any entrepreneur with the ins and outs of conducting a business, how to start the business, and where to begin.
Works Cited
· The Virginia Cooperative Extension
· Paula Jensen of Small Biz Survival
· Investopedia
· The New York Times
· The Colonial Beach Chamber of Commerce
Comments