Kutztown University SBDC

Our Blog has Moved!

2011-09-16T14:13:00.000-04:00

Thank you for checking out our Kutztown SBDC blog. The new and improved blog featuring the latest and most relevant articles in small business finance, marketing, social media, and general entrepreneurship.

The new link is at: http://www.kutztownsbdc.blogspot.com/

Follow us there!

Making Social Media Relevant to Small Business

2011-02-10T10:44:00.001-05:00

While the buzz about business using social media has been hot for a number of months, there has not been enough convincing evidence to move many small business into the social media environment. In a recent article from Brian Solis, Social Media's Critical Path: Relevance to Resonance to Significance, the process of making social media impactful to a business is evaluated.

You can read the full article from Brian Solis here: http://blogs.hbr.org/cs/2010/07/social_medias_critical_path_re.html

PA SBDC Clean Technology Forum

2011-02-07T13:28:00.002-05:00

The Pennsylvania Small Business Development Centers will be convening a forum to discuss clean energy technology opportunities and challenges in Pennsylvania. The Pennsylvania Clean Technology Forum will be held on March 28th in Harrisburg, Pennsylvania and is open to the public.

Coordinated by the Pennsylvania SBDC’s Clean Technology Resource Center (CTRC), the forum is designed to help equip small businesses with the information they need to start and operate a successful clean tech company, as well as educate clean tech consumers to make energy decisions that will enhance their profitability, productivity and market adaptability.

The forum will be divided into four panels discussing the following topics: (1) Clean Technology Services: How to get Started; (2) Implementing Clean Technology; (3) Commercializing Clean Technology; and (4) Financing. James Gambino, the keynote speaker from the Greater Philadelphia Innovation Cluster for Energy Efficient Buildings, will discuss how the Energy Innovation HUB will provide additional resources for clean technology in Pennsylvania.

A reception & networking session will immediately follow the panel presentations. Exhibitor space is available in the reception room, providing a venue for clean tech-related businesses to showcase themselves to like-minded individuals, legislators, and potential financiers. Sponsorship opportunities are also available.

Who Should Attend:
• Businesses interested in implementing clean technology projects at their business
• Start-up companies entering the clean technology market
• Companies commercializing clean technology
• Companies interested in promoting their clean technology services
• Organizations interested in growing the clean technology sector in Pennsylvania

For information on the agenda and to register as an attendee, check the Forum website, www.pasbdc.org/cleantechforum or call the CTRC hotline, 877-771-CTRC (3872).

More about the Pennsylvania SBDCs and CTRC
The Clean Technology Resource Center (CTRC) helps businesses develop and commercialize technology products, goods, services, and processes that use renewable energy sources.
This specialized consulting service, centrally located at the Penn State SBDC, is available to all businesses in Pennsylvania looking to determine the viability of technologies, obtain financing, or introduce new technologies to market. Visit www.pasbdc.org/cleantech for information about our free services.

Since its inception in 1980, the Pennsylvania Small Business Development Centers (SBDC) has evolved into a network of 18 university-based centers and more than 100 outreach locations, operating under the guidance of the State Director located at the University of Pennsylvania. Funding support from the Commonwealth of Pennsylvania, the U.S. Small Business Administration and the SBDC host institutions enables consulting services to be provided at no charge to the client. For more information on the Pennsylvania Small Business Development Centers’ services and impact, visit www.pasbdc.org.

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Start a business for about $100? Really?

2011-02-04T16:21:00.002-05:00

This article states that entrepreneurs don't need thousands of dollars to begin their businesses, the 3 talked about in the article each started theirs with under $150. The authors did have some regulations though: "The entrepreneurs had to be either paying themselves a salary or reinvesting substantial profits in the business, as well as planning to continue down the entrepreneurial path for some time to come. We also nixed people who opened consulting firms in fields where they had already built careers. While that's certainly entrepreneurial, we wanted people who were truly starting from scratch."

Kael Robinson was givin a bracelet as a gift, then started selling them for $2.50 after spending $40 for 100 of them.

These days, her products are for sale in more than 500 stores world-wide. The company has a more sophisticated website and two full-time employees who handle order fulfillment, new-business development and bookkeeping. Last year, Live Worldly racked up $60,000 in profits on revenue of $160,000, compared with $10,000 in earnings on revenue of $50,000 the year before.

Read the full article here:

http://online.wsj.com/article/SB10001424052748703720504575376664285510930.html?mod=WSJ_newsreel_smallbiz

Updating a Business Logo

2011-02-04T14:21:00.004-05:00

As the economy makes many drastic changes as do the businesses within it, one of the major coffee producers Starbucks decided to go for a new look. Starbucks which nearly 40 years ago opened its first store in Seattle is now changing their world wide known logo. A video was posted to the Starbucks official website (http://www.starbucks.com/). The announcement was made featuring the CEO Howard Schultz talking about the evolution of his coffee shop. Starbucks compared to 40 years ago can almost been seen on every street corner in busy cities. According to the company profile on their official website Starbucks obtains over 16,000 locations in over 50 countries. Check out the article: Starbucks Bucks Old Logo: A Gap-Like Disaster? By Christine Birkner; AMA ACCESS marketing news at http://www.marketingpower.com/ResourceLibrary/Documents/newsletters/mne/2011/1/mne_starbucks.pdf

Few Businesses Sprout, With Even Fewer Jobs

2011-01-03T12:00:00.000-05:00

We would like to feature an article from the Wall Stree Journal that discusses how many new businesses in the US are not succeeding and are unable to hire new employees.

Newly opened companies created a seasonally adjusted total of 2.6 million jobs in the three quarters ended in March, which is 15% less than in the first three quarters of the last recovery. The article also states that new businesses are the most important source of jobs and a key driver of the innovation and productivity gains that raise long-term living standards, without them there would be no net job growth at all. Tough economic times have pushed more Americans into business for themselves, working as consultants or selling wares online. But many are not taking the additional step of forming a company and hiring employees. Even though it may seem like a major factor, most entrepeneurs say it's not all about finiancing, they express concern about taxes and health-care costs as well. In many cases, entrepreneurs today don't need as much money, or as many people, to start new businesses. For example, software, communications technology and high-tech equipment are far cheaper and far more powerful than they were a decade ago.

Click here access the full article from the Wall Street Journal.

Every day the SBDC deals with either struggling or new entrepreneurs who are looking to grow, expand, and succeed in the business world today. We help the kind of people that are talked about in the article, so with an increase entrepreneurs struggling can lead to an increase on the impact Small Business Developlment Center can have on helping people begin or expand their business.

New SBA Initiatives To Increase Lending in Underserved Communities

2011-01-03T11:30:00.000-05:00

As the nation turns its attention to serving the underserved during the Martin Luther King, Jr. Day of Service, SBA does as well. In the Recession’s wake, small business owners in America’s underserved communities – which include minority, female and rural area populations – are among the hardest hit by the tightening commercial loan market. In response SBA has introduced two new lending initiatives (both expected to begin accepting applications in mid-March 2011) and announced an Advisory Council on Underserved Communities focusing efforts to increase SBA-backed loans to small businesses in those markets.

To address the demand for lower-dollar loans in underserved communities, SBA introduced in December the Small Loan Advantage lending initiative. The initiative, part of the SBA’s popular 7(a) loan guarantee program, makes issuing SBA-backed “7(a) loans” of up to $250,000 to the underserved business community simpler for lenders through a streamlined loan application process. The SBA’s 7(a) Loan Guaranty Program is the SBA’s primary financial assistance instrument. It provides loan guaranties on business loans to help qualifying entrepreneurs secure financing on reasonable terms. The program operates through private-sector lenders who provide loans. Loans issued under the 7(a) loan guarantee program come with a government guarantee: 85 percent for loans up to $150,000 and 75 percent for those greater than $150,000. Small Loan Advantage loans will be available to the 630 financial institutions across the country in SBA’s Preferred Lender Program (PLP). Under PLP, which includes most of the agency’s highest volume lenders, SBA delegates the final credit decisions to lenders, expediting the loan approval process.

For its part, SBA’s new Community Advantage lending initiative, also introduced in December 2010, will expand the points of access small business owners have for getting loans by opening SBA’s 7(a) program to “mission-focused” financial institutions including Community Development Financial Institutions, Certified Development Companies and non-profit microlending intermediaries. Community Advantage will leverage the experience these institutions already have in lending to minority, women-owned and start-up companies in economically challenged markets with their management and technical assistance expertise, to help make their borrowers successful.

In conjunction with the roll-out of these two new lending programs, SBA introduced its new Advisory Council on Underserved Communities. The CUC will provide input, advice and recommendations on how SBA programs can help strengthen competitiveness and sustainability for small businesses in underserved communities. The council will consist of 20 members from across the country. It is anticipated that members will reflect a variety of key sectors, including business owners, banking and finance, community development, nonprofit and academia. Catherine L. Huges, chairperson and founder of Radio One, Inc., and a former SBA borrower, will chair the new council.

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Free workshop in Reading for business start-ups

2010-12-08T11:43:00.002-05:00

12/16/2010 - 237 Court Street, Reading PA 19601 - BCCF Building - Cost: Free

You have come to the right place if you are in the early stages of thinking about starting a small business. In fact, even if you have started up your business and realized you missed a few things, this workshop is still right for you. This live workshop highlights the SBDC process, learning resources, and we will direct you to the SBDC services you need.

Some topics covered are:

•Funding of the SBDC

•Owning a Small Business

•Business Structures

•Legal Issues

•Business Financing

•Business Planning

The outcome of the session will be a clear understanding of your next steps to take. REGISTER NOW TO START THE PROCESS -YOUR SUCCESS IS OUR MISSION

5 challenges entrepreneurs never expect

2010-11-24T09:44:00.002-05:00

You never really know what to expect when you become an entrepreneur.

Some challenges are easy to see coming - things like difficulties building brand recognition, finding people you can trust and having the infrastructure necessary to support growth. But the real hurdles are the things you never anticipated. They vary from company to company, but here are five problems I never expected as an entrepreneur and the lessons they taught me.

Alarms going off in the middle of the night. Entrepreneurs expect to work long hours - that’s what it takes to build a successful business. What you don’t expect is the 3 a.m. crisis. I’m a businessman, not the President of the United States, right?

Still, somehow the problems that just can’t wait inevitably happen in the middle of the night. I was once woken up in the very early hours of Thanksgiving Day by a call from an alarm company informing me that my office had been broken into. I spent half of Thanksgiving that year going through the office with the cops and filing a police report. So much for football!

Lesson learned: Entrepreneurs are never off the clock.

Spamming and scamming. I could never have expected the massive amount of spam- by-phone we would receive when we first opened our office. Every morning we would be met with 8 hours of recorded phone calls and dozens of messages from people asking for things like a dry cleaner’s in Dallas. Then there was the time we got a massive telecom bill and found out someone in Eastern Europe had used our account to make $3,000 worth of long distance phone calls. The bad news: this kind of thing only stopped once we moved offices.

Lesson learned: Get a great IT guy and put procedures in place to prepare for the inevitable onslaught.

Unsolicited advice. It’s amazing how many people will come out of the woodwork the moment you start a new business. Some you know, some who pretend to know you, all who suddenly know exactly what you should do to be successful. Never mind that they probably can’t balance their own checkbooks. They will appear at the drop of a hat and insist they know your business better than you do.

Lesson learned: Ignore the wannabes.

Treatment from banks. I always thought that one of the foundations of capitalism was a strong relationship between business owners and banks. Banks provide the capital to entrepreneurs who build businesses and create jobs for people who then deposit money in the bank.

The fact is bankers often treat small business owners quite poorly. I’ve dealt with a lot of bankers who promised so much but in the end offered so little. They make unreasonable demands, expect you to meet impossible standards, and offer little in return. For a while it was virtually impossible to get a legitimate line of credit, despite proven success and large possibilities for growth.

Lesson learned: Bankers you can trust are worth their weight in gold.

Wardrobe malfunctions. As a software engineer, all of the best jobs I’ve had never had a dress code. It seemed like the fewer rules on attire, the better the company. That’s how we did it at Knowland for the first few years.

Then I learned the value of a good dress code. If people are dressed too casually, they tend to adopt a too-casual work ethic – it’s just human nature. We created professional dress standards – nothing too stringent – and it made a world of difference in the working environment and level of professionalism. Work ethic improved and productivity increased.

Lesson learned: Laying down a few ground rules for attire doesn’t make you uncool, just more professional.

(Editor’s note: Michael K. McKean is the CEO and Director of New Product Development for the Knowland Group. He submitted this story to VentureBeat.)

12 Low-Cost Marketing Ideas for the Ho-Ho-Ho-lidays!

2010-11-23T14:12:00.002-05:00

I'm not a big fan of Christmas and Year-end Holiday cards. They are not only expensive, but boring and predictable. Every year I look for creative marketing ideas that won't break the bank, but will break through the clutter that my poor clients are dealing with. This year, I thought it would be fun to share some of the creative ideas I've found along the way.

1. Dress up your website or blog logo like Google. Do it not just for the Year-end Holiday season – but for EVERY holiday that comes a long. This idea is not only easy, but fun and will bring a smile to your web and blog visitors’ faces. If you don’t have a designer of your own – use go here and have them do a series of logos with fun holiday flair. Do you use Twitter.com, the social media site? Then take it one step further, and decorate your Twitter background, too. Go to TwitterBacks, download the specs or existing backgrounds, customize one with your own design. Then submit it to the TwitterBacks gallery of Twitter backgrounds, giving you a little extra marketing visibility.

2. Try Personalizing or Customizing. These days there are so many fun and interesting ways to personalize just about anything.

•How about personalizing postage stamps with your logo or a personal picture? Take idea #1 (a holiday version of your logo) and put that on a stamp. If you do decide to send holiday cards (OK, we understand), use your personalized stamps. Don’t stop there — use the personalized stamps for sending out invoices and other customer communications during the season.

•Get a necktie or scarf with your logo image all over it, and wear that same tie or scarf to every holiday event. You can become a walking brand at holiday parties.

•You can also personalize cookies, candy and chocolate. For example, if your customers are chocolate lovers, M&M’s will let you pick a color and write your own short message on the hard candy shell, and Hershey’s will write a personal message on your very own bar of chocolate. Or how about a giant fortune cookie with a customized message inside? Why not bake your own cookies? There is NOTHING like receiving something handmade, it shows your customers you’ve taken brain time and energy for THEM.

•Create water bottles or other beverages with your logo and/or team photo on it.

3. Meet Your customers half-way. One auto shop owner told customers to bring their own oil and washer fluid and they would change their oil at a reduced rate. Take a look at your business process – what opportunities do you have to save your customers money by letting them “contribute” to the work? I thought of this one when a client was telling me about a restaurant where you cook your own food. I remember thinking – why go out? But that particular restaurant was selling the experience and ambiance rather than the food.

4. Create a Video Card on your site or on YouTube. YouTube videos have become a popular form of cost-effective promotion. Why not pull your group together and sing a Holiday Song, or take a look at HP’s take on this idea. Notice their subtle use of product placement. If this sounds like an idea you’d like to try, Microsoft has put together a little how-to article on how to make your own video quickly and easily.

5. Give your best customers a digital picture frame loaded with images of the team that usually services them. Create a group shot in the lobby and take some candid shots of individuals around the company – making the product your customer uses or taking a call. You can also include photos from your annual customer appreciation event if you have one or any other pictures you may have taken at their locations with their people.

6. Create 12-days of “your product”. Or maybe create a product or service of the month. Feature a product or service every day or every week during the Holidays — or every month throughout the year. Many of your customers don’t even KNOW about — let alone purchase — all the different products and services you have to offer. Companies in the food business use this strategy a lot; think beer-of-the-month, cheese-cake of the-month, or coffee of the month. But if you remember the “Book-of-the-Month” clubs, then you know that you can use this with many other products; Cigars or teddy bears are just a few. There aren’t too many companies offering services that do this, but I think some of these might be interesting: maid service companies could feature an extra cleaning detail each month; trainers or consultants can offer featured webinars, reports or newsletters.

7. Write a free (industry specific) downloadable Holiday Survival guide for your customers. We’re marketing experts — so we’re giving you this one! What are some tips and tricks you know because you’re an expert and an insider in your business that your customers would really appreciate? Try some of these templates for your e-book.

8. Write your own “Holiday Story.” With so many low-cost photo book options out there, it’s a no-brainer to hire a writer, take some pictures (or use your employees’ kids to create illustrations) around a holiday story. You can develop a story that features some of your core corporate values wrapped around the holidays and perhaps some “case study” examples that not only feature your heroic capabilities and Goodwill toward men, but if you put a humorous spin on it – will be a keepsake AND a promotional item for your customers. How about some customized cartoons or drawings? For instance, Blurb is a tool that will let you create your very own high-end book. At just $12.95 each, this is a wonderful keepsake for customers.

9. Create a real-life or a digital “Holiday Tree” decorated with your organization’s features and benefits. You can use little snowflakes printed with goodwill messages, low-cost decorations that convey a message or even edible goodies. Do this for your best customers or perhaps even some of those prospects that have been on the fence. To really save money, go to your local office supply store and purchase Inkjet or LaserJet pre-scored business card paper, then create a design that’s a combination of text messages and pictures. Print them off, put in a hole punch and a ribbon, hang on the tree — VOILA — a daily reminder to your customers on why they choose you. If you’ve got pictures of you and your customers that you’ve taken over the year — throw some of those in there. If you’re not that crafty — then create your ornament cards digitally on Moo.com and they’ll be shipped to you. All you have to do is hole punch and hang.

10. Commission a special holiday greeting. Some of you just can’t resist sending out holiday cards. So if you must, make it a special and unique card. Commission a humorous cartoon through Andertoons, for example. Then once you have the image, use one of the online custom card-making applications like MyCardMaker.com, Zazzle or Moo to create your card. Or talk with your local printer and have them professionally printed in your own backyard.

11. Create a Customer Recipe Collection. Instead of collecting recipes from friends and family, let your customers know that they are part of your family by including THEIR favorite recipes mingled in with yours. This will not only be a promotional tool, but a keepsake that people will cherish for a long time. Hp has made this whole process painless by providing an easy recipe collection how-to article to get you started.

12. Holiday Cards and Invitations. Now, if you really insist on sending Holiday Cards, here is a very low-cost alternative. Simply download this PDF template and type in your personal message, and then print it out on a nice heavy weight card paper and you’re all done. And if you’re having a holiday get together for your office or any club or organization you belong to, try this easy template for a holiday party invitation that’s ideal to distribute, post or send.

When it comes to making an impact during the Year-end Holidays, even smaller businesses can run with the best of them. Whatever level of effort and/or money you want to put into holiday marketing, there’s something to choose from. Start now while you still have plenty of lead time so you can make sure your business is top of mind with customers as we end the year and start a new one.

About the Author: Ivana Taylor has spent over 20 years helping industrial organizations and small business owners get and keep their ideal customers. Her company is Third Force and she writes a blog called Strategy Stew. She is co-author of the book “Excel for Marketing Managers.”

SBA Offers Disaster Assistance to Pennsylvania Residents Affected by Severe Storms and Flooding

2010-11-23T14:05:00.002-05:00

WASHINGTON - Residents and businesses affected by severe storms and flooding that occurred in Pennsylvania on Sept. 30, 2010, can apply for low-interest disaster loans from the U.S. Small Business Administration, SBA Administrator Karen G. Mills announced today.

Mills made the loans available in response to a letter from Pennsylvania Gov. Edward G. Rendell, on Nov. 10, 2010, requesting a disaster declaration by the SBA. The declaration covers Delaware County and the adjacent counties of Chester, Montgomery and Philadelphia in Pennsylvania; New Castle in Delaware; and Gloucester in New Jersey.

“The SBA is strongly committed to providing the people of Pennsylvania with the most effective and customer-focused response possible to assist homeowners, renters, and businesses of all sizes with federal disaster loans,” said Administrator Mills. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”

“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.

“Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets,” said David C. Dickson, SBA district director for Philadelphia.

The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.

For small businesses and most private non-profit organizations of all sizes, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any physical property damage.

Interest rates are as low as 2.5 percent for homeowners and renters, 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition.

Individuals and businesses may obtain information on loan applications by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities), Monday through Friday from 8 a.m. to 6 p.m. ET or by sending an e-mail to disastercustomerservice@sba.gov. Business loan applications can also be downloaded from the SBA website at http://www.sba.gov/. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Those affected by the disaster may apply for disaster loans from SBA’s secure website at https://disasterloan.sba.gov/ela/.

The filing deadline to return applications for physical property damage is January 14, 2011. The deadline to return economic injury applications is August 15, 2011.

How to Export: Your Guide to Greater Sales and Profits

2010-11-19T11:38:00.002-05:00

9:00 AM-1:00PM (including lunch!) Thursday, December 2, 2010

Greater Reading Chamber of Commerce & Industry
Center for Business Excellence
49 Commerce Drive, Wyomissing, PA 19610

FEE: $20

REGISTER ONLINE: http://www.kutztownsbdc.org/workshops/workshop_listing.asp?Category=22#233

You are invited to participate in a practical, interactive seminar on exporting your products with the goal of increasing your sales and profits. Use the workshop to network and get answers to your questions on how to export or overcome a specific problem you are facing. Join us in this workshop to gain practical information on marketing and finance. Martin Brill (Program Manager, International Trade) and Bob Elsas (Regional Manager, US Export Assistance Center of the US Small Business Administration) will lead the seminar. The session will feature presentations by a commercial banker and perspectives from companies who are currently exporting.

AGENDA

9:00- 10:00 Getting Started—How & Why

10:00 – 11:00 Accessing Financial Resources & Mitigating Risks

11:00 – 12:00 Logistics

12:00 – 1:00 Working Lunch—2 local companies invited to share their export experiences

More than 1,300 U.S. Organizations in All 50 States to Participate in Global Entrepreneurship Week 2010

2010-10-28T11:34:00.000-04:00

More than 1,300 U.S. organizations in all 50 states are collaborating to celebrate Global Entrepreneurship Week (GEW) 2010, Nov. 15 - 21. Globally, there are expected to be more than 20,000 partners.

U.S. partners include universities, non-profit organizations, successful entrepreneurs, government agencies and corporate sponsors - and their diverse and creative events consist of virtual and face-to-face activities, large-scale competitions and intimate networking gatherings.

The Week will bring together aspiring and inspiring entrepreneurs in more than 100 countries around the world, helping them embrace originality, imagination and ingenuity through local, national and global activities.

Learn more about how states rank in participation level and how to find events near you.

Summit for Success - November 17, 2010 - Reading, PA

2010-10-19T15:58:00.001-04:00

Berks Economic Partnership and the Greater Reading Chamber's Business Resource Center is pleased to present the inaugural Summit for Success - Resources for Aspiring and Growing Entrepreneurs. Attending the Chamber's Summit for Success is a must for anyone looking to start a business or who currently owns a small business. The summit will feature a keynote presentation by Dan Golberg, Founder and Former Owner of ForEyes, concurrent workshops and a networking reception.

More About the Event

Keynote Speaker Dan Golberg is a nationally recognized trainer, coach, business developer, keynote speaker, and master marketer. He was the founder and former owner of the highly successful optical company, For Eyes, whose cutting edge approach to the sale of eye wear and related services changed the industry and had a major impact on how all service businesses are marketed.

There will be concurrent workshops offered in three different tracks- start ups, early stage, and commercialization. There will also be a workshop is Spanish.

Agenda

4:00 - Registration
4:30 - 5:30 - Workshop Sessions
5:30 - 6:00 - Networking Reception
6:00 - 7:00 - Keynote Speaker
7:00 - 7:45 - Workshop Sessions
7:45 - 8:30 - Workshop Sessions

Click here to register

Sponsors:

Location:
Crowne Plaza Reading
1741 Paper Mill Rd
Wyomissing PA 19610

Global Entrepreneurship Week 2010

2010-10-05T14:08:00.002-04:00

More than 100 Countries Join Worldwide Effort to Educate and Inspire Next Generation of Entrepreneurs

In November, millions of people around the globe will participate in the world's largest celebration of entrepreneurship. Thousands of events in more than 100 countries will celebrate innovation, entrepreneurship, and creativity during Global Entrepreneurship Week 2010 (GEW), Nov. 15-21. Now in its third year, the event will bring together aspiring and inspiring entrepreneurs, helping them embrace originality, imagination, and ingenuity through local, national, and global activities.

Co-founded by the Ewing Marion Kauffman Foundation and Enterprise UK, GEW has grown exponentially since its inaugural event in 2008; more than 10 million people in 102 countries will participate this year.

Learn more about the activities taking place during GEW.

U.S. Job Growth Driven Entirely by Startups, According to Kauffman Foundation Study

2010-07-07T16:23:00.002-04:00

For policymakers who are focused on jobs, jobs, jobs, a new Kauffman Foundation study has the answer: startups, startups, startups.

When it comes to creating new jobs, startup companies are the source, according to the study titled The Importance of Startups in Job Creation and Job Destruction.

The study bases its findings on the Business Dynamics Statistics, a U.S. government dataset compiled by the U.S. Census Bureau that tracks the annual number of new businesses (startups and new locations) from 1977 to 2005, and defines startups as firms younger than one year old.

Read more about this study of job growth and destruction patterns at both startups and existing firms.

Six Dimensions of Success-Oriented Small Business Owners

2010-07-07T09:52:00.004-04:00

The Guardian Life Small Business Research Institute identified six dimensions that characterize small business owners who exhibit a strong success orientation based on their desire to enjoy longevity in their businesses, expand revenues and grow the size of their companies.

Despite the financial challenges of the 2009 recessionary period, approximately half of the respondents who participated in The Guardian Life Index said that they expected either a greater than 10% increase in revenues over 2008 or projected growth for their companies over the next 12 to 24 months, or both. Of the 1,100 respondents, more than 400 looked forward to expanding their businesses in the years ahead, and 200 anticipated increasing sales, even in the difficult 2009 period.

The Six dimensions identified are:

Collaborative
Self-fulfillied
Future focused
Curious
Tech Savvy
Action oriented

Read the full report

Understanding the Basics of Borrowing Money (Part 8 of 8)

2010-05-19T13:37:00.003-04:00

Part 8: Questions Your Lender Will Ask

The Small Business Administration has published a series of links about the most common question asked by individuals looking to start a business, "How do I get money to start my business?" This series of 8 posts will begin to answer this complex question.

From http://www.sba.gov/ : Before you apply for a loan, you need to think about questions like these:

Can the business repay the loan? (Is cash flow greater than debt service?)
Can you repay the loan if the business fails? (Is collateral sufficient to repay the loan?)

Does the business collect its bills?

Does the business pay its bills?

Does the business control its inventory?

Does the business control expenses?

Are the officers committed to the business?

Does the business have a profitable operating history?

Does the business match its sources and uses of funds?

Are sales growing?

Are profits increasing as a percentage of sales?

Is there any discretionary cash flow?

What is the future of the industry?

Who is your competition and what are their strengths and weaknesses?

Understanding the Basics of Borrowing Money (Part 7 of 8)

2010-05-19T13:35:00.005-04:00

Part 7: Management Experience

The Small Business Administration has published a series of links about the most common question asked by individuals looking to start a business, "How do I get money to start my business?" This series of 8 posts will begin to answer this complex question.

From http://www.sba.gov/ : Managerial expertise is a critical element in the success of any business. In fact, poor management is most frequently cited as the reason businesses fail. So lenders will be looking closely at your education and experience as well as that of your key managers.

If you’d like to strengthen your management skills, SBA’s Small Business Training Network offers a variety of free online courses that you can take on your own time and at your own pace.

Understanding the Basics of Borrowing Money (Part 6 of 8)

2010-05-19T13:32:00.009-04:00

Part 6: Collateral

The Small Business Administration has published a series of links about the most common question asked by individuals looking to start a business, "How do I get money to start my business?" This series of 8 posts will begin to answer this complex question.

From http://www.sba.gov/ : When a financial institution gives a loan, it wants to make sure it will get its money back. That’s why a lender usually requires a second source of repayment, called collateral—personal and business assets that can be sold in case the cash generated by the small business isn’t sufficient to repay the loan. Every loan program requires at least some collateral. If a potential borrower has no collateral, he/she will need a co-signer who has collateral to pledge. Otherwise it may be difficult to obtain a loan.

The value of collateral is not based on market value; rather, it is discounted to take into account the value that would be lost if the assets had to be liquidated. This table gives a general approximation of how different forms of collateral are valued by a typical lender and SBA: Table

Collateral Coverage Ratio
The bank will calculate your collateral coverage ratio as part of the loan evaluation process. This ratio is calculated by dividing the total discounted collateral value by the total loan request.

Understanding the Basics of Borrowing Money (Part 5 of 8)

2010-05-19T13:30:00.004-04:00

Part 5: Equity Investment

The Small Business Administration has published a series of links about the most common question asked by individuals looking to start a business, "How do I get money to start my business?" This series of 8 posts will begin to answer this complex question.

From http://www.sba.gov/ : Don't be misled into thinking that a start-up business can obtain 100 percent financing through conventional or special loan programs. Financial institutions want to see a certain amount of equity in a business.

Equity can be built up through retained earnings or by the injection of cash from either the owner or investors. Most banks want to see that the total liabilities or debt of a business is not more than four times the amount of equity. (In other words, when you divide total liabilities by equity, your answer should not be more than four.) So if you want a loan, you must make sure that there is enough equity in the company to leverage that loan.

An owner usually must put some of her/his own money into the business to get a loan; the amount depends on the type of loan, purpose and terms. Most banks want the owner to put in at least 20 to 40 percent of the total request. For example, if a new business needs $100,000, the business owner must put $20,000 of his/her own money into the business as equity. The loan amount would be $80,000. The debt to equity ratio here is 4:1.

Having the right debt to equity ratio does not guarantee you'll get a loan. There are a number of other factors used to evaluate a business, such as net worth, which is the amount of equity in a business (often a combination of retained earnings and owner's equity).

Understanding the Basics of Borrowing Money (Part 4 of 8)

2010-05-19T13:29:00.004-04:00

Part 4: Credit History

The Small Business Administration has published a series of links about the most common question asked by individuals looking to start a business, "How do I get money to start my business?" This series of 8 posts will begin to answer this complex question.

From http://www.sba.gov/ : When a small business requests a loan, one of the first things a lender looks at is personal and business credit history. So before you even start the process of preparing a loan request, you want to make sure your credit is good.

Get your personal credit report from one of the credit bureaus, such as TransUnion, Equifax, or Experian. You should initiate this step well in advance of seeking a loan. Personal credit reports may contain errors or be out of date, and it can take three to four weeks for errors to be corrected—and it is up to you to see that this happens. You want to make sure that when the lender pulls your credit report, all the errors have been corrected and your history is up to date.

Once you obtain your credit report, check to make sure that all personal information (your name, social security number and address) is correct. Then examine the rest of the report carefully. It contains a list of all the credit you obtained in the past (e.g., credit cards, mortgages, student loans), with information on how you paid that credit. Any item indicating that you have had a problem in paying will be toward the top of the list. These are the credits that may affect your ability to obtain a loan.

If you have been late by a month on an occasional payment, this probably will not adversely affect your credit. But it is likely that you will have difficulty in obtaining a loan if you are continuously late in paying your credit, have a credit that was never paid, have a judgment against you, or have declared bankruptcy in the last seven years.

A person may have a period of bad credit as a result of divorce, medical crisis, or some other significant event. If you can show that your credit was good before and after this event and that you have tried to pay back those debts incurred in the period of bad credit, you should be able to obtain a loan. It is best if you write an explanation of your credit problems and how you have rectified them and attach this to your credit report in your loan package.

Each credit bureau has a slightly different way of presenting your credit information. For example, some use words rather than numbers. Good credits read "Never Late" or "Paid as Agreed." TransUnion uses number and letter combinations. "I" means installment credit, "R" means revolving credit. The key information is in the numbers. A "1" means perfect credit—you’ve always paid your bills on time. "2" or "3" means you have been two to three months late in paying your bills. Too many of theses will hurt your chances in obtaining credit. A "9" means delinquency in paying your bills and a charge off. This could make it difficult to obtain a loan.

You can get specific information on how to read the report from each credit bureau. If you need help in interpreting or evaluating your credit report, ask your accountant or a friendly banker.

Understanding the Basics of Borrowing Money (Part 3 of 8)

2010-05-19T13:26:00.005-04:00

Part 3: Ability to repay

The Small Business Administration has published a series of links about the most common question asked by individuals looking to start a business, "How do I get money to start my business?" This series of 8 posts will begin to answer this complex question.

From http://www.sba.gov/ : The ability (or capacity) to repay the funds you receive from a lender must be justified in your loan package. Banks want to see two sources of repayment—cash flow from the business as well as a secondary source such as collateral. The lender reviews the past financial statements of a business to analyze its cash flow.

Generally, banks feel most comfortable dealing with a business that has been in existence for a number of years because it has a financial track record. If the business has consistently made a profit and that profit can cover the payment of additional debt, it is likely that the loan will be approved. If however, the business is a start-up or has been operating marginally and now has a new opportunity to grow, it is necessary to prepare a thorough loan package with a detailed explanation addressing how the business will be able to repay the loan.

Understanding the Basics of Borrowing Money (Part 2 of 8)

2010-05-05T08:57:00.006-04:00

Part 2: Types of Financing

The Small Business Administration has published a series of links about the most common question asked by individuals looking to start a business, "How do I get money to start my business?" This series of 8 posts will begin to answer this complex question.

From http://www.sba.gov/: There are two types of financing: equity financing and debt financing. When looking for money, you must consider your company's debt-to-equity ratio—the relation between dollars you've borrowed and dollars you've invested in your business. The more money owners have invested in their business, the easier it is to attract financing.

If your firm has a high ratio of equity to debt, you should probably seek debt financing. However, if your company has a high proportion of debt to equity, experts advise that you should increase your ownership capital (equity investment) for additional funds. That way you won't be over-leveraged to the point of jeopardizing your company's survival.

Equity Financing
Equity financing (or equity capital) is money raised by a company in exchange for a share of ownership in the business. Ownership is represented by owning shares of stock outright or having the right to convert other financial instruments into stock. Equity financing allows a business to obtain funds without incurring debt, or without having to repay a specific amount of money at a particular time.

Most small or growth-stage businesses use limited equity financing. Equity often comes from non-professional investors such as friends, relatives, employees, customers, or industry colleagues. The most common source of professional equity funding is venture capitalists. These are institutional risk takers and may be groups of wealthy individuals, government-assisted sources, or major financial institutions. Most specialize in one or a few closely related industries. The high-tech industry of California's Silicon Valley is a well-known example of venture capital investing.

Venture capitalists are often seen as deep-pocketed financial gurus looking for start-ups in which to invest their money. But they most often prefer three- to five-year-old companies with the potential to become major regional or national concerns and return higher-than-average profits to their shareholders. Venture capitalists may scrutinize thousands of potential investments annually, but only invest in a handful. The possibility of a public stock offering is critical to venture capitalists. Quality management, a competitive or innovative advantage, and industry growth are also major concerns.

Different venture capitalists have different approaches to management of the business in which they invest. They generally prefer to influence a business passively, but will react when a business does not perform as expected and may insist on changes in management or strategy. Relinquishing some of the decision-making and some of the potential for profits are the main disadvantages of equity financing.

Debt Financing
Debt financing means borrowing money that must be repaid over a period of time, usually with interest. Debt financing can be either short-term, with full repayment due in less than one year, or long-term, with repayment due over a period greater than one year. The lender does not gain an ownership interest in the business, and debt obligations are typically limited to repaying the loan with interest. Loans are often secured by some or all of the assets of the company. In addition, lenders commonly require the borrower's personal guarantee in case of default. This ensures that the borrower has a sufficient personal interest at stake to give paramount attention to the business.

Loans can be obtained from many different sources, including: banks, savings and loans, credit unions, commercial finance companies, and SBA-guaranteed loans. State and local governments have developed many programs in recent years to encourage the growth of small businesses in recognition of their positive effects on the economy. Family members, friends, and former associates are all potential sources, especially when capital requirements are smaller.

Traditionally, banks have been the major source of small business funding. Their principal role has been as a short-term lender offering demand loans, seasonal lines of credit, and single-purpose loans for machinery and equipment. Banks generally have been reluctant to offer long-term loans to small firms. SBA’s guaranteed lending programs encourage banks and non-bank lenders to make long-term loans to small firms by reducing their risk and leveraging the funds they have available. SBA's programs have been an integral part of the success stories of thousands of firms nationally.

Understanding the Basics of Borrowing Money (Part 1 of 8)

2010-05-05T08:49:00.005-04:00

Part 1: Borrowing Money

The Small Business Administration has published a series of links about the most common question asked by individuals looking to start a business, "How do I get money to start my business?" This series of 8 posts will begin to answer this complex question.

From http://www.sba.gov/: Borrowing money is one of the most common sources of funding for a small business, but obtaining a loan isn't always easy. Before you approach a lender for a loan, it is a good idea to understand as much as you can about the factors the bank will evaluate when they consider your application. This discussion outlines some of the key factors a lender uses to analyze a potential borrower. Also included is a self-assessment checklist for you to complete.

Look for Part 2 of this series, Types of Financing, on 5/12/2010

Tips to Improve Your Website

2010-05-05T08:40:00.005-04:00

Based on the Article: It's In the Way That They Use It from Entrepreneur Magazine

The Internet is an important source for small businesses. However, a business firm's website must be designed to be customer friendly or these potential customers will be lost forever. Certain guidelines should be followed when a business designs its website which is:

• Get Organized: Use a familiar traditional website
-Users scan a website starting at the top left corner and moving diagonally to the bottom right
-Main content should be in the center of the page

• Easier=Better
-Any content on the website should be found within a few clicks
-Avoid drop-downs or pop-out menus because they can be cumbersome
-Arrange your navigation in descending order of popularity with obvious to the point labels

• All the news that fits
-The most important content should be above the fold avoiding scrolling horizontally

• Ask for the sale
-The website should create a clear call to action by having a line of copy at the end of every page with a convincing sales pitch that utilizes a hook to get users to submit their information
-Free consultation is a good resource that provides users with an incentive to submit their contact information

-Users scan a website starting at the left corner and move diagonally down to the bottom right corner

- Place navigation with clear and concise labels, which help visitors find the content easily

- Create a simple lead from for potential customers to make initial contact.

http://www.entrepreneur.com/magazine/entrepreneur/2010/april/205548.html

New study shows chamber of commerce members offer safer bet when it comes to business credit risk

2010-04-07T22:53:00.004-04:00

The article talks about a new study that links credit scores of chamber of commerce members and businesses at large.

The American Chamber of Commerce Executives (ACCE) today announced the publication of a new study detailing the credit scores and payment behavior of ten local chambers of commerce across the United States, comparing their member businesses with other regional, state and national business averages.

http://www.acce.org/index.php?src=news&refno=6&category=ACCE%20News

SBA Warn Small Business of Fraudulent Attempts Offering to Help Them Secure SBA Loans

2010-04-01T18:57:00.008-04:00

SBA News Release
PRESS OFFICE
********
SBA Warns Small Businesses of Fraudulent Attempts Offering to Help Them Secure SBA Loans
********

Release Date: March 29, 2010
Contact: Dennis Byrne (202) 205-6567
Release Number: 10-09
Internet Address: http://www.sba.gov/news

**************

WASHINGTON – The U.S. Small Business Administration (SBA) is warning small businesses to use caution if they are contacted by firms offering to help them apply for funds available through SBA programs.

SBA and SBA’s Office of the Inspector General (SBA OIG) have received several complaints from small businesses about abusive marketing practices, scams, and exorbitant fees charged by firms offering to help them obtain a loan, grant, or other federal funds, from SBA.

Some of these complaints include:

• Firms charging small businesses high fees to provide assistance applying to SBA funding programs. Some firms allegedly guaranteed that the small business would obtain SBA funding if they paid the fee. SBA does not endorse or give preference to specific private companies or their clients.

• Firms charging small businesses for services never requested after the small business gave bank account and routing information to a caller claiming to be a firm offering assistance. SBA recommends that small businesses never provide social security numbers, bank account information, or credit card numbers to anyone; and, never over the telephone.

• Firms alleging that a small business would be issued a “forfeiture letter” that would make the small business ineligible for any SBA funding for three years if the small business refused to use the firm’s services.

When electing to use a third party to apply for SBA funding programs, small businesses should also bear in mind:

• Small businesses can get free assistance in person or by calling one of SBA’s
68 District Offices and from information on SBA’s Web site (http://www.sba.gov).
They can also get assistance from Small Business Development Centers, Women’s Business Centers, Veterans Business Outreach Centers and SCORE Chapters, either free or for a reasonable fee. Location and contact information for the centers can be found on SBA’s Web site.

• Small businesses should ask for references and confer with trusted colleagues and institutions, such as the Better Business Bureau, when selecting service providers.

• Small businesses should clearly establish and document: 1) What they are being charged; 2) When they will be charged; 3) What they must do; and 4) What services they will receive.

SBA’s Office of the Inspector General will investigate and respond to all complaints. SBA encourages anyone with knowledge of a misrepresentation regarding SBA Business Loan Programs, or any other SBA program, to contact SBA OIG by calling the OIG Hotline toll-free at (800) 767-0385, or submitting an online report at the SBA OIG Web page (www.sba.gov/ig), and click the link for “Report Fraud Waste or Abuse.”

Anyone who has a question regarding an SBA loan or any SBA program, may contact their local SBA District Office, the SBA Answer Desk at 1-800-U-ASK- SBA (1-800-827-5722) or e-mail answerdesk@sba.gov.

Don Jefferson
U.S. Small Business Administration

Manual Link Building Tips

2010-03-31T12:38:00.003-04:00

Building links that come to your website are crucial. Some of the ways to do this include backlink checks, posting on blogs, finding high PR(page rank) links. These can all be done manually.

Do you have an interest in getting more exposure online? Ultimately, being found in Google is the surest way to get traffic to your website and turn prospective clients into current clients. There are many schools of thought on how to get found on Google, but one surefire way to increase your rankings is through manual link building. Link building is one of the basics of search engine optimization. The hard part is, however, how to accomplish this task.

http://www.verticalmeasures.com/link-building/manual-link-building-tips-2010/

Kutztown University SBDC Hosts Senator O'Pake's Small Business Development and Financing Conference

2010-03-25T11:05:00.008-04:00

The Kutztown University SBDC and Kutztown University hosted Senator Michale O'Pake and George Cornelius, Secretary of Pennsylvania Department of Community and Economic Development. The event was attend by about 200 entrepreneurs, small business owners and econmic development organizations.

Information on the event from the Reading Eagle

Coverage from Channel 69 News

Small Business Manufacturers Outreach

2010-03-09T16:05:00.004-05:00

By invitation only, small businesses that are capable of manufacturing, to the required quality standards, commodities listed at www.manufacturersoutreach.org can meet Contracting Officers and other Acquisition personnel from Naval Inventory Control Point (NAVICP) and Defense Logistics Agency (DLA) Philadelphia.

Space is limited to 60 invited attendees.To be invited, qualified small businesses must submit a Capability Statement to clydes@wharton.upenn.edu by April 12. 2010. With each Capability Statement accepted, one ticket will be issued for attendance. ONLY TICKET HOLDERS WILL BE ADMITTED.

Speakers From NAVICP & DLA:
Captain Joe Dunn, Director of Contracts, NAVICP
Ms. Tammy Kozior, Director, DLR Procurement Operations, DLA Philadelphia
Ms. Katherine Rachubinski, Associate Director Small Business, NAVICP
Ms. Bobbie Keane, Small Business Specialist, DLA Philadelphia
Mr. Bob Hughes, Small Business Technical Advisor

Sponsored by: Chester County Economic Development Council; NAVICP & DLA Philadelphia; Southeast Pennsylvania- PTAC; University of Delaware – PTAC; SEDA-COG – PTAC.

For invitation instructions and more details, visit http://www.manufacturersoutreach.org/

Updated Workshop Schedule

2010-02-09T14:13:00.004-05:00

Due to recent weather conditions, the Business Planning workshop series scheduled in the months of February and March 2010 at 6:00 p.m. at the Chester County Library has been updated.

The revised schedule for the business planning workshop series at the Chester County Library is:

BP2-March 4 @ 6:00 p.m.
BP3-March 11 @ 6:00 p.m.
Bp4-March 30 @ 6:00 p.m.

If you have any questions, please contact sbdc@kutztownsbdc.org .

Ben Franklin Technology Partners and PennTAP Announce the $35,000 NEW Energy Idea Contest

2010-01-26T15:18:00.001-05:00

FOR IMMEDIATE RELEASE: January 25, 2010

Ben Franklin Technology Partners and PennTAP Announce the $35,000 NEW Energy Idea Contest

State College, PA – The Pennsylvania Technical Assistance Program (PennTAP) and Ben Franklin Technology Partners of Central and Northern PA (BFTP/CNP) announce their sponsorship of the “NEW Energy Idea Contest.” The grand prize of $35,000 will be awarded to either an entrepreneur or one early-stage, pre-revenue company in the process of developing a new energy or alternative energy related product/process improvement.

Prize money for the contest is being provided by Ben Franklin as well as PennTAP utilizing a donation made by the United States Department of Energy (DOE) and the Pennsylvania Department of Environmental Protection (DEP).

Interested entrepreneurs can visit http://newenergyplan.benfranklin.org/ for rules, entry forms, and FAQs. The deadline for applications is April 15, 2010.

To qualify, contestants must have a viable, new energy/alternative energy-related product or process improvement idea and cannot have received BFTP funding in the past. Additionally, applicants must be located in any one of the 32 counties in the Central and Northern Pennsylvania region. These include: Adams, Bedford, Blair, Cambria, Cameron, Centre, Clarion, Clearfield, Clinton, Crawford, Cumberland, Dauphin, Elk, Erie, Forest, Franklin, Fulton, Huntingdon, Indiana, Jefferson, Juniata, Lancaster, Lebanon, McKean, Mercer, Mifflin, Perry, Potter, Somerset, Venango, Warren and York.

“Saving energy and alternative energy is on everyone’s mind,” remarked Stephen Brawley, President/CEO of Ben Franklin. “Improvements to existing technologies, new hardware or software products that increase efficiency, new battery or fuel cell applications, engine and turbine technologies, and agricultural based alternatives are all examples of the kinds of proposals we’re hoping to get from this competition. Ben Franklin is very proud to partner with the PennTAP program, as the technical assistance they provide their clients in energy related initiatives makes a huge contribution in the state.”
About Ben Franklin Technology Partners
Ben Franklin Technology Partners CNP, an initiative of the Pennsylvania Department of Community and Economic Development, provides operational assistance, entrepreneurial support, and investment capital to emerging tech-based companies and small, existing manufacturers for the purpose of creating and retaining jobs in Pennsylvania. Contact the main office of Ben Franklin in University Park at (814) 863-4559 or see our website at http://www.cnp.benfranklin.org/

About the Pennsylvania Technical Assistance Program (PennTAP)

An outreach program of Penn State University, PennTAP is a federal-state-university partnership, and since 1965 has been one of the nations’ leading technical assistance initiatives. The program is a valuable resource for helping Pennsylvania companies compete and grow in fields such as emerging energy technology and energy efficient industry practices. For more information, see the website at http://www.penntap.psu.edu/

For further information:
Liz Wilson,
Ben Franklin Technology PArtners CNP
814-898-6541
lizwilson@psu.edu

Governor Rendell says $22 Million Investment Will Create 375 Jobs Statewide, Stimulate Pennsylvania's Technology Sector

2009-12-17T13:40:00.003-05:00

Governor Rendell says $22 Million Investment Will Create 375 Jobs Statewide, Stimulate Pennsylvania's Technology Sector

Harrisburg: The commonwealth approved nearly $22 million in investments today to support innovation and help new technology companies grow and create 375 jobs, Governor Edward G. Rendell said.

“Pennsylvania’s latest investments will provide vital resources for companies that are looking to enter the marketplace; they will help stimulate our economy by creating hundreds of great-paying jobs; and they will pave the way for a stronger future for the state,” Governor Rendell said.

The Ben Franklin Technology Development Authority approved $16 million to be allocated equally this year among the four regional Ben Franklin Technology Partners. The four regional centers are among the state’s most important resources for vital early stage capital.

“In many cases, these investments serve as the final, crucial piece for many start-up, pre-seed and seed companies to take off,” the Governor said. “This piece can often determine whether the company or project is a ‘go, or no-go.’”

The Ben Franklin Technology Partners have helped create and expand high-growth companies with seed funding and technical assistance for 26 years.

In addition, the Ben Franklin Technology Development Authority approved more than $1 million for 10 existing Keystone Innovation Zones throughout the state, and almost $5 million for several other projects.

The Ben Franklin Technology Development Authority is one of the nation’s largest state technology development programs, providing a vehicle for investment in economic, community, and university-based innovation. Authority programs are a key component in the strategy and mission of the Department of Community and Economic Development.

The Governor said the Ben Franklin Technology Development Authority has leveraged more than $4.8 billion since 2003, which has helped to create more than 33,000 jobs.

For more information on BFTDA or the commonwealth’s other community and economic development programs, visit http://www.newpa.com/ or call 1-866-466-3972.

For information on the Innovation Grants Program Guidelines and Frequently Asked Questions (FAQs):
http://www.newpa.com/find-and-apply-for-funding/funding-and-program-finder/funding-detail/index.aspx?progId=246.

Why Restaurants Fail

2009-12-01T13:42:00.006-05:00

There are many reasons why a business can fail, especially a restaurant. Knowing where other businesses have fallen short is where a new business can excel. The basis for this article is to show the key reasons why restaurants fail, so that others can learn from these mistakes without having to experience them firsthand. The 14th page of the document titled “Elements of Restaurant Success and Failure” by H. G. PARSA, JOHN T. SELF, DAVID NJITE, and TIFFANY KING is the basic overview of what to do and what not to do.

Past research on restaurant failures has focused mostly on quantitative factors and bankruptcy rates. This study explored restaurant ownership turnover rates using qualitative data, longitudinal data (1996- 1999), and data from Dun and Bradstreet reports. In contrast to frequently repeated statistics, a relatively modest 26.16 percent of independent restaurants failed during the first year of operation. Results from this study indicated marginal differences in restaurant failures between franchise chains (57.2 percent) and independent operators (61.4 percent). Restaurant density and ownership turnover were strongly correlated (.9919). A qualitative analysis indicated that effective management of family life cycle and quality of-life issues is more important than previously believed in the growth and development of a restaurant.

To read more on restaurant failure click here.

SBA American Recovery Act

2009-11-25T10:23:00.004-05:00

On February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act of 2009 (the "Recovery Act") (P.L. 111-5). On March 16, 2009, SBA implemented sections 501 and 502 of the Recovery Act, which provide fee relief on 7(a) and 504 loans and an increased guaranty percentage on 7(a) loans. Both initiatives have contributed to a significant resurgence in lending to small businesses by SBA’s participating lenders and Certified Development Companies (CDCs).

Based on the activity to date, SBA projects that the Agency will have funds to support these two Recovery Act initiatives through late-November 2009. Therefore, with this Notice SBA is establishing procedures in anticipation of the end of the availability of Recovery Act funds. Once the appropriated Recovery Act funds are exhausted, some funds are projected to become available again as previously approved Recovery Act loans are cancelled.

Click here for the full news release from the SBA.

eNews: The September 2009 eNewsletter has been released

2009-09-11T13:53:00.003-04:00

In This Issue

Leland Nelson - Dirty Dog Hauling

Government Loan Programs

Interactive Live Workshop for Existing Businesses

Four-Part Business Planning Live Workshop

The First Step Live Workshop

Click here to access the newsletter

eNews: SBA Launches New Online Training Course: "How to Win Federal Contracts"

2009-09-11T13:39:00.003-04:00

WASHINGTON ─ The U.S. Small Business Administration today launched a new online training course to help strengthen access to contracting opportunities for small businesses, including those owned by women, minorities, disadvantaged individuals and veterans.

The training course, "Recovery Act Opportunities: How to Win Federal Contracts," is part of a federal government-wide initiative announced last month by President Obama and being led by SBA and the Department of Commerce.

“Government contracts can play a key role in helping small businesses turn the corner in terms of expansion and job creation,” SBA Administrator Karen G. Mills said. “But make no mistake, the benefits the government receives are equally as impressive – working with small businesses allows the federal government to work with some of the most innovative companies in America, often with direct contact with the CEO.”

“The SBA online training course can help businesses access the federal purchasing system and position themselves to compete for the commercial opportunities offered by government contracting,” Mills continued.

In announcing the government-wide initiative, President Obama reiterated his Administration’s commitment to providing “our Nation’s small businesses with maximum practicable opportunity to participate in federal government contracting.” As part of the initiative, federal agency procurement officers are participating in more than 200 events over the next several weeks to help connect small businesses with contracting opportunities. Additionally, SBA and Commerce are expanding their outreach to contracting officials across the federal government to ensure they have the tools to meet their annual contracting goals and increase opportunities to small businesses, including those owned by veterans, women and minorities, as well as those in designated HUBZones.

As part of the outreach to small businesses, the comprehensive online course uses both audio and script to provide information about the federal marketplace, contract rules and, most importantly, how to sell to the government and where to find contract and Recovery Act opportunities. The new training portal is a free online training course designed to assist entrepreneurs during this period of economic recovery. This self-paced, instructional guide provides an overview of the federal procurement process.

The Recovery Act Opportunities course is available on SBA’s Web site at www.sba.gov or directly at www.sba.gov/fedcontractingtraining. The course is indexed by subject matter to allow ease of use, and it includes multiple direct links to additional contracting resources.

The Recovery Act Opportunities course includes direct links that highlight the best contracting resources and engages small business owners in the contracting process. The course also includes practical and fundamental steps to engage business owners in the federal contracting arena.

It is one of more than 24 online tutorials offered by the SBA, and is available 24/7.
For more information please visit http://www.sba.gov/.

eNews: The August 2009 KU SBDC eNewsletter has been released

2009-08-11T13:34:00.002-04:00

In This Issue
Fee-based Online Certificate Series
J.D. Williams and the Myo Clinic
Top Five Questions
Business Plan Now Part II
SBA Internet Training: Certified 8(a) and HUBZone Contractor
Home Improvement Consumer Protection Act
Business Plan Now Part I
Certification Made Simple
Exton Four-Part Business Plan Workshops
The First Step: How to Start and Operate a Small Business

SBA Roundtable: Economic Stimulus Opportunities

2009-07-23T13:46:00.004-04:00

This is an opportunity to learn more about the American Reinvestment and Recovery Act. Join us for presentations on small business procurement opportunities from Federal and State Agencies.

Featuring Officials From:
U.S. Small Business Administration
Army Corps of Engineers
Commonwealth of Pennsylvania
General Services
Department of Homeland Security
Environmental Protection Agency
General Services Administration
Veterans Administration

Come and learn how these Stimulus opportunities could benefit your small business!

******** Admission Is Free ********
Date and Location:
August 6, 2009, 9:00am - 12:00pm
Wildwood Conference Center HAAC 1 HACC Drive Harrisburg, PA 17110-2999

-or-

August 11, 2009, 9:00am - 12:00pm
Cyber Center
2101 Pennsylvania Ave.
York, PA 17404

To RSVP Contact: SBA Philadelphia District Office 610-382-3062 or phila_do@sba.gov

SBA Philadelphia District Office
1150 First Ave.,
Suite 1001
King of Prussia, PA
www.sba.gov/pa/phil
Your Small Business Resource

Every day, the U.S. Small Business Administration and its nationwide network of partners help millions of potential and current small business owners start, grow and succeed.

Resources and programs targeting small businesses provide an advantage necessary to help small businesses effectively compete in the marketplace and strengthen the overall U.S. economy.

SBA offers help in the following areas:

• Starting a Business
• Financing a Business
• Growing a Business
• Opportunities in Contracting
• Recovering From Disaster
• A Voice for Small Business in Government

Visit SBA online at www.sba.gov for 24/7 access to small business news, information
and training for entrepreneurs. All SBA programs and services are provided on a nondiscriminatory basis.

Conference Announcement: Supplier Diversity Symposium

2009-07-23T13:10:00.004-04:00

This half day conference will provide diverse businesses with the immediate opportunity to network with decision makers from large corporations with contracting opportunities. The focus is to identify and locate diverse vendors in our region and connect them with companies in our region who truly understand the value of diverse supplier chains.

MEET ONE ON ONE WITH DECISION MAKERS

NETWORK WITH REGIONAL BUSINESS COMMUNITY

CONNECT WITH LOCAL PURCHASING REPRESENTATIVES

LEARN HOW TO POSITION YOUR BUSINESS FOR LONG TERM SUCCESS

WHO SHOULD ATTEND?

Certification Providers Diversity Professionals

Grant and Contract Managers Prime Contractors
Project Managers Small Businesses
Procurement/Purchasing Professionals

LOCATION:
Radisson Penn Harris
1150 Camp Hill Bypass
Camp Hill, PA 17011

REGISTER TODAY!

Registration: $40.00

EXHIBITOR SPACE AVAILABLE FOR PURCHASING REPRESENTATIVES, PRIME CONTRACTORS AND CERTIFYING AGENCIES!

Sponsorships are available. Please contact Lindsey Marthouse at 717.213.5044 or lmarthouse@hbgrc.org

To register, please click here.

eNews: PA House Commerce Committee Chair Calls for Investment in Small Business Development Centers to Counteract Recession

2009-07-13T11:34:00.002-04:00

How do you stimulate economic development in a recession? State Representative Peter J. Daley (D-Washington/Fayette) convened the Pennsylvania House of Representatives Commerce Committee in Harrisburg, Pa. yesterday to examine possible solutions.

Daley, who chairs the committee, soberly noted that proposed cuts in Senate Bill 850 would largely hinder the efforts of several state-funded economic development organizations.

"Pennsylvania has led the nation in its innovative economic development tools. I am extremely frustrated that after 27 years of efforts to create and sustain business growth, we would cut programs that clearly help grow the economy," he said.

The Pennsylvania Small Business Development Centers (SBDC) joined the Local Development Districts and the Industrial Research Centers in offering testimony as to how its services are helping small businesses keep their doors open and contribute to the state's tax base. As the largest provider of business assistance services, the SBDC serves 30,000 Pennsylvanians annually -- leveraging state funding support to provide these services at no fee.

"If a business isn't profitable, it will not be able to continue, and business failure is costly in many ways," Christian Conroy, State Director of the Pennsylvania SBDC, testified. "Lost are jobs, wealth, tax base and community services." He pointed out that the SBDC program is in a unique position to address the commonwealth's economic activities through helping businesses in any county, any industry or any stage of business.

"We're locally focused, we have very strong relationships with other local business organizations, and we're able to leverage resources within our host universities to give small business owners a very powerful set of tools," Conroy said.

Elaine Tweedy, director of the University of Scranton SBDC, noted that a particular strength of the program is its focus on the long-term. "We help businesses think strategically so that they are prepared to address issues that arise, which positions them for growth down the line," she said.

Nancy Sarno, part-owner of Sarno & Son Tuxedo Rentals concurs. "Because we are a small, independent, family-run business, we relied heavily on the expertise of the SBDC over the years," Sarno confirmed. "Where else can a small business find quick and efficient answers to issues that arise in business? I don't know what we would have done without their services."

When Sarno's company began working with the center in 1991, the Dunmore-based business had approximately 50 employees across four states. In leveraging the SBDC's strategic planning and range of business services, including regulatory and energy efficiency assistance, Sarno eventually relocated to a 46,000 square foot facility in Scranton and ramped up to 125 employees, expanding into nine states.

Ed Huttenhower of the Saint Francis University SBDC noted that helping small firms identify new markets, such as those abroad, is another way the SBDCs are keeping small businesses competitive. Bill Riggs of J&J Truck Bodies, which has manufactured truck bodies and trailers in Somerset, Pa. for more than 50 years, said the center played a significant role in helping his company generate sales in South Africa, Vietnam, Russia, Chile and Saudi Arabia.

Representatives of the University of Pittsburgh and Temple University SBDCs also recognized the program's efforts to support recently dislocated workers, agribusinesses and minority entrepreneurs. Presenting organizations noted they are seeing increased demand since the recession.

"We have long recognized that all businesses, including small ones, are players in the global economy," Daley said. "The state's budget needs to reflect that. You don't cut the things that help grow revenue or you're going to find the same problem seven years down the road. It's counterproductive."

Originally posted by SBDCNet on June 22, 2009

eNews: The KU SBDC June 2009 eNewsletter has been released

2009-06-17T10:47:00.002-04:00

In This Issue
East Coast Threading Secures Success
Attention Investers: Don't Panic
Exton 4-part Business Planning Workshop Series
Certification Made Simple
Tips to Start Your Own Business
Graduates Featured on Berks County TV
Proposal Preparation & Bid Submission
Moving Up in State Contracting

eNews: More than Half of Fortune 500 Companies Were Founded in Recession or Bear Market

2009-06-17T10:36:00.000-04:00

A new study by the Ewing Marion Kauffman Foundation finds a silver lining in today's challenging economic times: Recessions can spur entrepreneurship, which leads to the creation of much-needed new jobs.

The study The Economic Future Just Happened found that more than half of the companies on the 2009 Fortune 500 list were launched during a recession or bear market, along with nearly half of the firms on the 2008 Inc. list of America's fastest-growing companies.
The report also suggests a broader economic trend, with job creation from startup companies proving to be less volatile and sensitive to downturns when compared to the overall economy.

The complete study is posted on www.kauffman.org.

Workshop Announcement - June 24, 2009 - Wide Area Workflow Training (WAWF) - Harrisburg, PA

2009-06-10T10:49:00.007-04:00

HACC Business Startup Center
SEDA-COG’s PTAC & Kutztown's SBDC/PTAC
Present
“Wide Area Workflow Training (WAWF)”

“Morning Session”

Wednesday, June 24, 2009
8:30 a.m. – 9:00 a.m Check-in
9:00 a.m. – 11:30 a.m.
Location: Harrisburg Area Community College, 349 Wiconisco Street
Penn Center 3, Room 241
Harrisburg, PA, 17110

"Afternoon Session"

Wednesday, June 24, 2009
12:30 p.m. – 1:00 p.m Check-in
1:00 p.m. – 3:30 p.m.
Location: Harrisburg Area Community College, 349 Wiconisco Street
Penn Center 3, Room 241
Harrisburg, PA, 17110

Parking is located at the corner of 3rd and Wiconisco Streets in the Zembo Temple Parking lot (across from the Scottish Rite Cathedral, Masonic Temple).
For Directions go to Mapquest
or call 717-221-1311

Learn About:
What is WAWF?

How is it being used by DOD?

How does WAWF work with RFID and UID?

How can WAWF benefit my business?

This is a “Hands On” session.

WAWF is an Internet based application permitting government contractors to create and send electronic shipping and receiving reports (DD 250) to government inspectors/acceptors for approval.
Return Registration Form by June 18, 2009 to:
SEDA-COG PTAC
Attn: Wendy Brown
201 Furnace Road
Lewisburg, PA 17837
Phone: 570-524-4491
Fax: 570-524-9190
wbrown@seda-cog.org

Presenter: Franklin Hunt, Work Leader-WAWF, DCMA.
If you are a Department of Defense prime contractor you should attend this free “hands on” seminar on the Wide Area Workflow Receipt and Acceptance initiative (WAWF) so that you understand how to meet DOD electronic invoicing requirements for the 21st Century.

Mandatory WAWF Pre-Registration Form
Seminar is FREE, but pre-registration is required. Return your WAWF registration to SEDA-COG, to the attention of Wendy Brown or via fax at 570-524-9190 by June 18, 2009.
Name: _________________________________ Title: _________________________
Company: _____________________________________________________________
Address: ______________________________________________________________
City: __________________ State: _______ Zip: _________________
Phone: ________________________ Fax: _______________________________
E-mail: ________________________ Cage Code: ____________________

Workshop Announcement - June 23, 2009 - Wide Area Workflow Training - West Chester, PA

2009-06-03T15:39:00.004-04:00

Wide Area Workflow Training
(WAWF)

Tuesday, June 23, 2009
Registration Check-in- 8:30 am
9:00 a.m. – 12:00 Noon
(if necessary an overflow session has been
planned for 1:30-4:30 pm)

Ø WAWF is an Internet based application permitting government contractors to create and send electronic shipping and receiving reports (DD 250) to government inspectors/acceptors for approval.

Ø If you are a Department of Defense prime contractor, you should attend this free seminar on the Wide Area Workflow Receipt and Acceptance Initiative (WAWF) so that you understand how to meet DOD electronic invoicing requirements for the 21st Century.

Ø Topics to be discussed include:

· How WAWF is being utilized by the DoD
· How WAWF works with RFID and UID
· How WAWF can be of benefit to your business

Ø Presented by Franklin Hunt of the Defense Contract Management Agency – Hartford

Ø Sponsored by the Southeast PA Procurement Technical Assistance Program
(with Centers at Kutztown, Lehigh, Temple and Widener Universities)

Ø Location: To Register:

West Chester University Phone: 610-758-3980
Graduate Business Center FAX: 610-758-5205
1160 McDermott Drive, Room 305 Email: insbdc@lehigh.edu
West Chester, PA 19383

Ø Directions: www.wcumba.org/directions-to-gbc

Wide Area Workflow Training June 23, 2009

* REGISTER EARLY AS SEATING WILL BE LIMITED TO 18 *

Name: ______________________________________________________________________________________________________

Company: ___________________________________________________________________________________________________

Additional Attendees:_____________________________________________________________________________________________________________________

Address: _______________________________________________________________________________________________________________________________

City: _______________________________________________________________ State: __________ Zip code: ___________________________________________

Phone: ______________________________________________________________ Fax: ______________________________________________________________

EMAIL: _______________________________________________________________________________________________________________________________

Funding support and resources are provided by the Commonwealth of Pennsylvania through the Department of Community and Economic Development; through a cooperative agreement with the Defense Logistics Agency and through support from Lehigh University. All services are extended to the public on a non-discriminatory basis. Special arrangements for persons with disabilities can be made by calling 610-758-3980. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA, the DLA and the DCEO.

Workshop Announement - June 16, 2009 - Free Seminar for Women & Minority Owned Businesses - Harrisburg, PA

2009-05-13T14:45:00.020-04:00

Workshop Announcement - May 4, 2009 - Workshop helps small businesses to work directly with the Commonwealth of PA - Breinigsville, PA

2009-04-14T11:33:00.009-04:00

Do you own a small business? Have you ever thought about doing business directly with the Commonwealth? Do you wish you knew more about becoming a Commonwealth prime contractor? Now is your chance to take your business to the next level! The Bureau of Minority & Women Business Opportunities is conducting this workshop where small business owners can learn:

· How to read and understand Request for Proposals (RFPs)
· How to write effective proposals
· Find and market your company to Commonwealth agency heads, purchasing agents, and RFP administrators
· Learn the Do's and Don'ts on becoming a prime contractor for the State.

The Pennsylvania Department of General Services (DGS) purchases more than $4.5 billion in goods and services each year and establishes procurement policy/procedures for most Commonwealth agencies. The Department's Bureau of Procurement acts as the purchasing agency for statewide requirements contracts and for purchase orders for supplies in excess of $20,000 and for services in excess of $250,000.

Do you own a small business? Have you ever thought about doing business directly with the Commonwealth? Do you wish you knew more about becoming a Commonwealth prime contractor? Now is your chance to take your business to the next level! The Bureau of Minority & Women Business Opportunities is conducting this workshop where small business owners can learn:

· How to read and understand Request for Proposals (RFPs)
· How to write effective proposals
· Find and market your company to Commonwealth agency heads, purchasing agents, and RFP administrators
· Learn the Do's and Don'ts on becoming a prime contractor for the State.

The Pennsylvania Department of General Services (DGS) purchases more than $4.5 billion in goods and services each year and establishes procurement policy/procedures for most Commonwealth agencies. The Department's Bureau of Procurement acts as the purchasing agency for statewide requirements contracts and for purchase orders for supplies in excess of $20,000 and for services in excess of $250,000.

Date: 5/4/2009
Time: 9:00 AM - 12:00 PM
(Registration begins at 8:30 AM)
Location: Tek Park
9999 Hamilton Blvd.
Breinigsville, PA 18031-9300
Multi-purpose room 1st Flr.
Directions:
http://www.tekpark.net/local_info.asp

To Register:
Contact: BMWBO
Phone: 717-783-3119
Email: gs-bmwbo@state.pa.us
Online registration and workshop information is available at www.portal.state.pa.us/portal/server.pt?open=512&objID=1469&PageID=260248&mode=2.

For Questions:
Contact: Curtis Burwell
Phone: 717-783-3119
Email: cburwell@ncentral.com
PA Department of General Services
Bureau of Minority & Women Business Opportunities
611 North Office Building
Harrisburg, PA 17125

SBA Philadelphia District Office Takes Business Banking Roundtable on Main Street Credit Crunch

2009-02-13T11:05:00.001-05:00

From December 2008 through mid February 2009, the SBA Philadelphia District Office is bringing representatives of Federal and State agencies involved with the nation’s banking policy together with Eastern Pennsylvania lenders for informative roundtable discussions. These roundtables concentrate on what each Federal and State agency is doing to assist the lending community in resolving the current credit crisis. The roundtables also provide a forum for lenders to address their suggestions and concerns regarding the credit situation to a virtually unprecedented assembly of government representatives.

Click here to learn more.

Announcement from DEP

2009-01-13T10:22:00.002-05:00

Jan. 12, 2009
Small Business Energy Efficiency Grant Program Now Open

DEP Home Pennsylvania's Energy Independence

Department of Environmental Protection acting Secretary John Hanger is proud to announce an opportunity for Pennsylvania’s small businesses to improve their energy efficiency and manage higher energy prices.
The new Small Business Energy Efficiency Grant Program provides a 25 percent match, up to $25,000, for equipment or processes that significantly improve energy efficiency. The program is the first available through the Alternative Energy Investment Fund, part of Governor Edward G. Rendell's Energy Independence Strategy.

Grants will apply to energy efficiency improvements on systems such as lighting, heating, cooling, refrigeration and process machinery, as well as building insulation and weatherization improvement projects.

An eligible applicant must be an independent, for-profit business with 100 employees or fewer, located in Pennsylvania. The project must save at least 20 percent annually in energy-related expenses, with a minimum savings of $1,000 per year. Examples of eligible small businesses include manufacturers, retailers, service providers, mining businesses and agricultural operations.

The grant application and guidelines are available online at www.depweb.state.pa.us, keyword: Small Business Energy Efficiency Grant, or by contacting the Department of Environmental Protection, Office of Energy and Technology Deployment, 15th Floor, Rachel Carson State Office Building, 400 Market Street, P. O. Box 8772, Harrisburg, PA 17105-8772, or by e-mail at ra-sbgrants@state.pa.us.

Applications will be accepted through May 1, 2009. Grants will be awarded on a first-come, first-served basis. A total of $3 million is available for this grant round.

In addition to the Small Business Energy Efficiency Program, the state will unveil a number of new energy conservation programs and alternative energy investment programs in the next couple of months that will benefit the state’s power consumers at work and at home and protect the environment.

Department of Environmental Protection 400 Market Street, Harrisburg, PA 17105

The Kutztown Unviersity Latino Business Resource Center

2008-12-01T11:30:00.002-05:00

Minority Entrepreneurship Helps Boost Economic Development

Lenin Agudo, Director, Kutztown University Latino Business Resource Center

Jose Luis is one of the millions of Latino immigrants, who left everything in their country to pursue the American dream. Once he legalized all his immigration documents, Jose left his double-shift dishwashing job in Miami, FL and decided to move yet again, this time to Reading, PA in order to pursue his dream of being an entrepreneur. After several years working as an owner/operator, he decided to establish his own transportation company but he did not know how to do it. Although Jose speaks English well, as in the case of many other native Spanish speakers, he prefers to learn in his native tongue and he feels reassured to be able to create his business plan and strategies in Spanish and then transpose his ideas to English.

During a consulting engagement with the Kutztown University Latino Business Resource Center (KU LBRC), Jose Luis has been able to reduce his overall operating expenses by 55%. He is currently applying for a loan to purchase a new tractor-trailer and is working on refinancing his high interest loans. We are committed, through our ongoing consulting, to ensure his entrepreneurial venture is a rewarding one both financially and experientially.

As Jose continues to strive for the American dream he once envisioned, thousands of other Latinos are pursuing entrepreneurial endeavors. Hispanic entrepreneurship has increased dramatically in the United States and the Commonwealth of Pennsylvania. These people are determined to accomplish their entrepreneurial desires. It is in this spirit of responding to this increase in the Hispanic business community, as well as catering to an underserved market that Kutztown University President Dr. Javier Cevallos, and Ernie Post and Don Martin from the Kutztown University Small Business Development Center created the Latino Business Resource Center as a specialty program of the Small Business Development Center (KU SBDC).

The KU LBRC’s goal is to deliver business and entrepreneurial development skills and content in a recognizable format and bilingually bridge the gap between the demands of the fastest growing business and workforce segment in the Commonwealth with the supply of tools and resources available to both the entrepreneurs and economic development organizations.

A National Perspective

According to the U.S. Census Bureau, Hispanics account for about half of the growth in the U.S. population since 2000. Furthermore, the number of Hispanic-owned businesses has increased by 82% between 1997 and 2006. The number of Hispanic-owned businesses is growing faster than the Hispanic population itself. As of 2003, the U.S. Hispanic market became the largest minority group in the United States. The 40.5 million Hispanics represent 13.8% of the U.S. population and a $580 billion economy. The Latino population controlled $653 billion in spending power in 2003, and this number is expected to reach more than $1 trillion in 2008, according to the Selig Center for Economic Growth.

In the Commonwealth

According to the Census Bureau report Hispanic-owned businesses in Pennsylvania increased by 47% between 1997 and 2006. The growth rate of the Commonwealth’s Hispanic-owned firms was nine percent higher than the national average and more than ten times the state average for all businesses (4.4%) and is steadily becoming a significant and critical segment of the Commonwealth’s workforce.

In Reading and Berks County

The significant growth of the Latino population in Reading and Berks County is an undeniable trend that will continue into the coming decades. The 2006 Census Bureau estimates indicate that there are 42,204 Hispanics in Reading comprising 51% of the overall population. This represents a 28% Hispanic population growth since 2000. In 2006, there were 417 Latino businesses in Reading, PA. It is estimated today that there are more than 500 Hispanic-owned businesses in the City that may benefit from our services.

The U.S. Census Bureau's American Community Survey states that 31.5% of Reading's 18,829 households are below the poverty level (annual household income of $21,203 for a family of four in 2007). This makes Reading the most impoverished city in Pennsylvania with a population greater than 65,000. According to an article published on August 28, 2008 in the Reading Eagle “the large number of high school dropouts and impoverished Latinos in Reading seem to be two of the main reasons behind Reading having the highest rate of poverty of the seven largest cities in Pennsylvania.” The KU LBRC is ready to mitigate these negative trends by offering entrepreneurial education and business consulting. Historically, it has been noted that entrepreneurship is the answer to economic development and that it has a positive impact in creating jobs and in revitalizing cities.

In Lancaster County

The significant growth of the Latino population in the city and county of Lancaster is an undeniable trend that will continue into the coming decades. The 2005 Census Bureau estimates indicate that there were 44,151 Latinos in Lancaster County which comprised nine percent of the overall population. This represents a 264% increase in population growth since 1980. In 2002, there were 517 Latino businesses in Lancaster County; they had gross receipts of $106.3 million. This was double the gross receipt of the 455 Latino businesses in 1996. The national and local data indicates that there is a strong entrepreneurial spirit among Latinos.

Through analyzing the trends it becomes evident that the growing Hispanic business community in the Commonwealth is being under-served, and that a gap between demand and services offered to the Hispanic community exists. The KU LBRC is committed to bridging that gap and meeting the challenges that have specific bearing on the status of existing Hispanic entrepreneurs in our region.

Leadership Tips on Dealing with Tough Times

2008-12-01T10:24:00.003-05:00

Leadership Tips on Dealing with Tough Times
Dan Goldberg Dan Goldberg Consulting, LLC

Effective leaders steer through the waters of commerce, leading their legions by example. The first thing leaders must do is take an inventory of their own strengths and weaknesses. Following those realizations they should then surround themselves with complementing individuals who will add to their strengths and help eliminate their weaknesses.

Leaders who build teams and give them the power to function on their own (within the framework of the organization) will see themselves happily on the road to success.

During tough economic times an organization that is run by a leader who has taken the initiative to add individuals who understand the values, mission, philosophy, and ethics of an entity will find that most of their folks will hunker down and be on board regardless of the situation. That’s the purpose of finding like-valued people. This does not mean that the leader should look for people who believe in the same methods of distribution, marketing techniques, and production systems, etc., because that can lead to stagnation and lack of creativity. What it does mean is that everyone is on board when it comes to the reason that the organization exists and what it strives to do.

One way to mitigate the possibility of having weak value links in the organization’s management chain is to ask open-ended situational questions during interviews. These questions can address the person’s reactions to downturns in the economy and what they might be willing to do for the company.

While most interviews entail situational questions, they rarely pose problems about the possibility of the corporation’s reversal of fortune during low or no economic growth periods. An effective leader can spot people who may have the fortitude to tough it out and/or come up with solutions to stave off deeper problems and perhaps even come up with ideas to turn revenues around.

Leadership is about having the ability to see the entire landscape and recognize who and what is necessary to keep the organization moving forward. Choosing the right people (not just individuals who have the skills to perform, but also the values to perform in the interests of the company) and getting them to do what the leader wants them to do because they want to do it, is a way to ensure that everyone is committed to the company even when times are tough.

Don’t forget that creating an atmosphere that incorporates some levity, especially during downturns, is a good way to relieve stress.

Upcoming Government Marketing Workshops

2008-12-01T06:10:00.005-05:00

The KU SBDC is co-sponsoring a number of events with the Harrisburg Regional Chamber and CREDC. Subjects include: Supplier Diversity, Pitching your business, Exporting, Financial Statements and Buying a Business.

The 2009 Harrisburg Regional Chamber and CREDC/EDS Seminar Series returns with a new line-up of workshops starting February 20, 2009 and continuing through May 2009.

Click here to learn more and register for the workshops.

Pennsylvania SBDC Technology Program Achieves National Recognition

2008-09-16T14:23:00.009-04:00

The Technology Commercialization Assistance team will represent the Pennsylvania SBDC’s high impact work nationally as Pennsylvania’s State Stars presented by the Association of Small Business Development Centers.

These seven specialists provided thousands of technology-based businesses with assistance on issues ranging from market research to capital formation and intellectual property rights. The SBDCs technology clients have recorded more than $176.5 million in financial investments in the last eight years alone, including nearly $40 million in Small Business Innovation Research grants from federal agencies.

The work performed by the SBDC’s technology consultants has garnered national attention. The National Science Foundation, National Institute of Health, and other federal agencies have invited SBDC consultants to sit on the national review boards and speak at numerous national technology conventions.

In 2006, the Pennsylvania SBDC became one of just nine SBDC programs nationwide accredited for its technology services. Recent legislation leverages this designation to facilitate small business grant applicants for technology-based research.

As founding members of the Innovation Partnership, the Pennsylvania SBDC technology consultants have also played a vital role in helping Pennsylvania firms locate and obtain federal funds for technology development. In fact, more than 35 percent of all Innovation Partnership micro-grants went to SBDC clients. These grants are critical to developing competitive Small Business Innovation Research (SBIR) funding proposals.

To learn more about the SBDC’s Technology Commercialization Assistance services, visit www.pasbdc.org/technology.

Pennsylvania State Stars

George Boehm, KU SBDC Consultant

George Boehm, Technology Consultant at the Kutztown University SBDC, has over 30 years experience in the Aerospace Industry working with both large and small firms. He has established and managed manufacturing divisions for multiple engineering companies working with the US Navy and has significant experience with government contracting.

Margie Beard, Technology Consultant at the Temple University SBDC, has over 25 years experience working with entrepreneurs in a broad range of industries. She previously worked for Mellon Bank and Chase Manhattan Bank where she managed multimillion dollar portfolios. Margie has an MBA in Marketing Management from Yale School of Management and a BA in Economics from Stanford University.

Christopher Jones, Technology Consultant at the Lehigh University SBDC, has spent 20 years working with economic development organizations focused on providing services to technology businesses in Pennsylvania. Chris possesses an extensive background in business management and financial operations.

Steve Overholt, Technology Consultant at the Gannon University SBDC, founded two companies working in the software and technology development spheres. Steve has worked to streamline operations and increase sales for both small organizations and Fortune 500 corporations.

Gregory Rice, Technology Consultant at the University of Pittsburgh SBDC, specializes in assisting local business owners who are seeking Small Business Innovation Research (SBIR) grants from the federal government. He recently served on a National Science Foundation grant review panel and the Investment Screening Committee for Blue Tree Capital Group, experiences which provide him with additional insights into the application process.

Steven Stumbris, Assistant Director for Technical Consulting at the Bucknell University SBDC, works with the Bucknell’s College of Engineering to provide applied engineering research, design, and analysis services in support of clients’ new product development and manufacturing process improvements. He has a B.S. in Mechanical Engineering from Cornell University and offers diverse industry experience spanning marine electronics, wood products manufacturing, plastic extrusion and mobile heavy equipment.

Tom Wren, Director of Specialized Programs for the Pennsylvania SBDC, has over 30 years experience in the acquisition and procurement processes of the federal government. Tom has worked closely with numerous federal agencies including the Defense Logistics Agency, Department of Commerce, and other agencies involved in e-commerce initiatives, procurement, technology commercialization, and international business assistance.

KU SBDC E-Learning Programs

2008-09-10T10:00:00.012-04:00

Business Skills for Success/E-Learning Programs The Kutztown University SBDC has over 80 Online Learning Programs. This is one of the largest collection of free, on-demand entrepreneurial training resources available in the United States and is part of our "Success Network". We have Online Learning programs from the SBA, IRS, Small Biz U, Virtual Advisor and custom programs from the Pennsylvania SBDC Network. The benefits to an entrepreneur, small business owner, or start-up business are:

Real world tools for small business owners.

Available 24/7.

Individualized and self-paced.

Select a category below to access over 80 Free, On-Demand Online Programs

Accounting (4 Courses)

Bilingual (English/Spanish) (24 Courses)

Business Operations and Management (2 courses)

Business Planning (3 Courses)

Finance (8 Courses)

Government (3 Courses)

International Business (2 Courses)

Legal (4 Courses)