Training entrepreneurs to save cities - CNN Money
DETROIT (CNNMoney.com) -- In the midst of a struggling economy, the Small Business Administration is hoping to create jobs and generate wealth in hard-hit urban communities by boosting small-business growth through its Emerging 200 initiative. The six-month program, which launched last year and began its second session a month ago, aims to provide training to small-business owners in 15 major metropolitan areas that have experienced flat or negative job growth rates in recent years. Initially intended to train 200 entrepreneurs per session, the program has attracted enough interest that around 215 companies have been accepted for 2009 . . . keep reading
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Proposal for Emergency Small Business Relief
Access to capital is the biggest need of small businesses during the best of times. During the worst of times, such as we are experiencing right now, access to capital may determine survival right now. As the dismal results of 2008 are realized in year-end reports, 2009 is looming, promising bleaker days ahead. Hundreds, thousands of Alabama businesses are suffering and many of them will close in the coming days. Therefore, I recommend to President Obama and Congress to establish an Emergency Small Business Bridge Loan, where local area banks participate to stimulate economy on Main Street. Benefits to the small business owner are loans for working capital or refinancing current debt at lower interest rates and extending loan periods to reduce monthly payments and ease cash flow requirements. As a potential control mechanism and a measure of management capabilities, reduced credit standards for companies over 2, 5, 7, 10, etc., years old, based on prior results of the business during better economic times, could be a consideration. This Emergency Small Business Bridge Loan is designed to accommodate survival over the next four years. In the short run, millions of dollars are needed to implement an Emergency Small Business Bridge Loan, but these funds are a long term investment in the people who build this country and make it great, one small business at a time. Even when darkness seeps in, there is a bright future ahead because entrepreneurs do not give up. But, sometimes a helping hand is needed by even the best and brightest. That time is now and the President and Congress should extend that hand with an Emergency Small Business Bridge Loan. . . . keep reading
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North Coast Small Business Development Center, Eureka, CA Business Profile
As stated in a news release, the timing for the new SBDC "flights" -- intensive business support services for businesses within a like industry -- is not lost on NCSBDC Director Michael Kraft. According to recent surveys by the National Federation of Independent Business, job losses, credit availability and lack of consumer confidence are painting a grim picture for businesses across the board in 2009. These flights were created to be responsive to small businesses needs, Kraft said, and in order to live to fight another day during a tough economic climate, regrouping is key. "These programs are for the person who has a real handle on their craft, but could benefit from help in some of those wrap-around services involved in running a business," Kraft said. "Maybe they have a tough time with bookkeeping or marketing; well, we have experts who can help you with that." One of the added benefits reported from past flight programs in the arts and in construction, Kraft said, are the peer to peer relationships that business owners form throughout the 10-month program. Julie Fulkerson, former owner of Plaza Design and SBDC contractor, looks forward to teaching a few retail workshops for the program. . . . keep reading
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