Obama’s schedule for Wednesday, May 16
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President Obama visits a small business in Washington Wednesday to urge Congress to act on legislation that would help small businesses, the White House said.
The daily schedule also indicates Obama will:
— Conduct a roundtable discussion with small-business owners who would benefit from the legislative proposals and Small Business Administrator Karen Mills.
— Meet for a working lunch with congressional leadership to urge passage of his “to do list” of legislation. Participants include House Speaker John Boehner, Senate Majority Leader Harry Reid, House Democratic Leader Nancy Pelosi and Senate Minority Leader Mitch McConnell.
— Meet with Secretary of State Hillary Clinton.
— Award U.S. Specialist Leslie H. Sabo the Medal of Honor posthumously for conspicuous gallantry for his heroic actions in combat May 10, 1970, while serving as a rifleman in Company B, 3d Battalion, 506th Infantry, 101st Airborne Division in Se San, Cambodia.
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Read More»Community invited to Yuma’s first ‘cash mob’ on Thursday
By Mara Knaub, The Sun, Yuma, Ariz.
May 15–Community members are getting ready for Yuma’s first “cash mob.”
The Arizona Small Business Development Center chose May 17 as the date community members will descend on an establishment at 245 S. Main St. Residents are invited to show their support of the local business by spending a minimum of $20 between 4 and 6 p.m.
“It’s a great message: We all do a little, we all do a lot. It’s a good idea especially in the summer when businesses in Yuma suffer,” said Vanessa Blackburn, SBDC analyst and cash mob coordinator.
“Especially on Main Street, you see a great reduction of traffic in the summer. We’re targeting areas that need help,” said Randy Nelson, SBDC director.
According to the SBDC Facebook page, “the general idea is to encourage people in Yuma to go into small, local businesses and spend their money, en masse, to give the business owner a little bit of economic stimulus. We’d help businesses grow, we’d make people happy, we’d get stuff for ourselves and have a great time.”
The name of the business isn’t being announced publicly in the hope of maintaining an element of surprise. Therefore, individuals are asked not to contact the store about the planned event.
However, Nelson doesn’t really expect the business name to remain a secret, especially since the number of individuals following the Facebook cash mob group (CMYuma) has “exploded.”
“We’re expecting a good crowd,” Nelson noted. “The excitement has been building.”
By releasing only the address, he expects people will go on an online “scavenger hunt” in search of the name. This will also benefit the business website and promote SBDC’s mission of encouraging small businesses to update their websites and incorporate social media.
The chosen business, a gift store in the historic downtown area of Yuma, opened April 2004 and is family-owned and -operated. The owner is active in the community.
“This one happened to fit all the needs,” Nelson said, adding that group members suggested it.
The store has merchandise for both men and women in the price range, and a watering hole is nearby for an after-event celebration. An “After Mob Party” will be held at Yuma’s Main Squeeze Winery, 251 S. Main St. The mobbed small business will provide participants with an entrance pass.
Read More»In business, planners win, pessimists don’t
By Greg Stiles, Mail Tribune, Medford, Ore.
May 16–ASHLAND — When it comes to digging out of the recessionary mire, nothing works for small business operators like planning.
A report released today by consulting firm E-Myth Worldwide shows well-mapped-out business plans and owners who track company performance come out ahead in multiple ways.
“So many business owners think working harder will get them there,” said Jed Bickford, E-Myth’s marketing manager. “But those who step back and make a plan have a great advantage.”
E-Myth surveyed 800 businesses in 47 countries, whose combined revenue topped $800 million. In broad terms, E-Myth’s survey divided respondents into two camps: planners and pessimists. When companies combined vision, plans and analytical data, they saw revenue growth in 2011 and owners got more compensation and saw paths to future growth.
“Most business owners don’t have a clear vision for where their company is going because they are buried in day-to-day tasks and what they have to do today,” said E-Myth Chief Executive Officer Jonathan Raymond, whose firm moved to East Main Street in Ashland from Santa Rosa, Calif., last year.
The survey, Raymond said, is a tool for the company with 32 local employees, and another 15 globally, to help business owners get beyond the present task.
“It takes people with double-vision, to keep the lights on, pay the bills and what’s in the current plan,” he said. “But also for what’s in vision for where they want to be.”
The surveyed owners ranged from 20 to 90 with a median age of 46. Two-thirds of the respondents were men, with a median income of $85,000. Although women-led companies had greater revenue streams of $1.7 million compared to $1.5 million for men, their median income was $46,500. While growth patterns were similar in 2011, women-led companies expected 19 percent growth versus 16 percent for men.
Planners outperformed the pessimists in 2011, the report stated, and the gap was expected to widen significantly in 2012. The divide between the groups was reflected in anticipated year-over-year growth in 2012.
Read More»FedEx will host disaster preparedness roundtable
By James Dowd, The Commercial Appeal, Memphis, Tenn.
May 16–A year after tornadoes devastated Joplin, Mo., leaving 545 businesses destroyed or severely damaged, many small businesses still have no preparedness plan in place, new findings reveal.
A study conducted by FedEx Corp. and the American Red Cross shows that half of small businesses aren’t prepared for disasters that may strike in areas where the companies are located, and 51 percent have not practiced evacuations or emergency drills.
In addition, 47 percent of small-business owners have not designated employee roles at their companies in the event of emergencies. That’s despite 40 percent of company owners surveyed who indicated that they could not fully recover within six months if their businesses were completely destroyed by a disaster.
And only 29 percent believe their businesses could survive if operations were disrupted for only month.
FedEx and the Red Cross want to change that by offering a virtual roundtable on disaster preparedness on May 22. The event will begin at 11:30 a.m. and be hosted on the FedEx’s Facebook page at facebook.com/fedex.
Recordings of the discussion will be posted on the page afterward; a rebroadcast at 6 p.m. will include an online panelist to answer questions.
Rose Flenorl, manager of Global Citizenship for FedEx, said the goal is to outline some simple, inexpensive steps small businesses can take in order to be prepared.
“The survey found that 77 percent of small businesses would be more likely to take action to prepare for disaster if they were provided with educational materials,” Flenorl said in a statement.
— James Dowd: (901) 529-2737
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(c)2012 The Commercial Appeal (Memphis, Tenn.)
Visit The Commercial Appeal (Memphis, Tenn.) at www.commercialappeal.com
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Read More»Programs designed to increase access to capital for businesses
By The Gazette, Colorado Springs, Colo.
May 15–Two new programs are aimed at increasing access to capital for small businesses in Colorado.
The programs, Colorado Capital Access and Cash Collateral Support, are designed to help businesses with 750 or fewer employees obtain loans from their local bank for working capital, inventory, real estate or equipment purchases and lines of credit.
“These programs will increase the availability of capital that small businesses need to hire more employees, grow their product lines and expand their businesses,” Gov. John Hickenlooper said in a news release. Access to capital was one element of the governor’s “bottom up” blueprint for economic development crafted last year.
The Colorado Housing and Finance Authority is serving as the programs’ administrator. The programs officially launched in January, with CHFA reaching out to lending partners and providing training, said spokeswoman Jerilynn Martinez. Now the agency is working to get the word out, “particularly to small businesses so they can take advantage of these resources.”
Funding for Colorado Capital Access and Cash Collateral Support stems from the federal Small Business Jobs Act of 2010. Last October, Colorado received $17.2 million through the Act’s Small Business Credit Initiative Program, designed to assist states in implementing capital access programs; of that, $2 million will be used for the Colorado Capital Access program and $15.2 million for the Cash Collateral Support program.
Here’s how they work:
–Colorado Capital Access is modeled after the Colorado Credit Reserve program, which has helped more than 500 businesses obtain $20.5 million in financing. Lenders participating in Colorado Capital Access will set up a pooled loan loss reserve fund to help offset any losses that occur with loans registered in the program. Colorado Capital Access will match the lender’s contribution into their loan loss reserve fund, $1 for $1, up to a maximum of 7 percent of the loan amount, for each loan registered in the program. The maximum loan size is $750,000.
–Cash Collateral Support is a credit enhancement program designed to help businesses get access to loans they might not otherwise qualify for due to collateral shortfalls. Lenders may apply for up to $500,000 in cash collateral support to strengthen a borrower’s collateral position. The maximum loan size supported is $5 million.
For more information, go to www.chfainfo.com, or call 1-800-877-2432.
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(c)2012 The Gazette (Colorado Springs, Colo.)
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Read More»Tulsa Metro Chamber honors InterWorks CEO
By Laurie Winslow, Tulsa World, Okla.
May 14– Behfar Jahanshahi, CEO and president of InterWorks Inc., a technology and consulting firm, has been named 2012 Small Business Person of the Year.
That honor was announced Monday during the Tulsa Metro Chamber’s 2012 Crystal Star Small Business Awards luncheon held at The Tulsa Convention Center.
The Crystal Star awards are presented each year to small businesses that represent vision, innovation and dedication, which are critical to improving the Tulsa regional economy.
The awards were created to recognize that small business is the foundation of the American economy. In the Tulsa area, 84 percent of all businesses are small businesses.
Founded in 1996, InterWorks started with computer networking and technical support services, but has expanded into web strategy, business intelligence and software development to meet the growing needs of its clients, according to the company’s website. InterWorks now has representatives across the country and clients around the world.
The company has offices in Tulsa, Oklahoma City and Stillwater.
Other winners also were announced.
–Tulsa Metro Chamber Entrepreneurial Success: Don Thornton, owner of Don Thornton Automotive Group –Home-Based Business Champion: David White, founder and owner of Hathaway 51 –Veteran Small Business Champion of the Year: Tim Jackson, founder and owner of Jackson Technical –Women in Business Champion: Teri Aulph, owner, Teri Aulph Consulting LLC –Family-Owned Business: Amy Bates, owner of Merry Maids Tulsa –Financial Services Champion: Donnie Cox, executive vice president of lending, Summit Bank –Young Entrepreneur, John Davey, co-owner of Andolini’s Pizzeria –Small Business Pioneer, Lynda Wingo, executive director and owner of Miss Helen’s Private School.
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(c)2012 Tulsa World (Tulsa, Okla.)
Visit Tulsa World (Tulsa, Okla.) at www.tulsaworld.com
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