"Entrepreneurs used to brag about the size of their funding round; now they boast about how little money they need."
http://www.sanfranmag.com/story/on-the-wings-of-angels
iPhoned
Tuesday, December 7, 2010
Saturday, December 4, 2010
Innovation meets KOSBE's Small Business and Entrepreneurship Program
The recent inclusion of a small business banquet for KOSBE, the Kingsport Office of Small Business and Entrepreneurship, has been a great success under KOSBE's first full-time executive director, Aundrea Wilcox.
Like the small business awards of the past, several winners in established categories were announced.
This year, though, the judges also awarded a new award, the Innovation Award, to a company I helped in the past define its strategy enhance product marketing.
From the official press release:
The new Innovation Award was presented to RLH JR Inc a/k/a Patient Scrubs (Nancy Hart, et al.). In April 2003, Nancy Hart’s husband was admitted to the hospital for heart surgery. It was there that she observed the medical staff and other patients, and discovered a need for a new level of function in patient attire that also offered more dignity. She stitched her first Patient Scrubs prototype for her husband to wear as an alternative to the traditional hospital gown. After many iterations, she has developed a product that is delighting her customers at their time of greatest need.
It's great to see two startups I've been heavily involved with—KOSBE and PatientScrubs—come in to their own. Both are run by determined visionaries who have a passion for what they do.
Like the small business awards of the past, several winners in established categories were announced.
This year, though, the judges also awarded a new award, the Innovation Award, to a company I helped in the past define its strategy enhance product marketing.
From the official press release:
The new Innovation Award was presented to RLH JR Inc a/k/a Patient Scrubs (Nancy Hart, et al.). In April 2003, Nancy Hart’s husband was admitted to the hospital for heart surgery. It was there that she observed the medical staff and other patients, and discovered a need for a new level of function in patient attire that also offered more dignity. She stitched her first Patient Scrubs prototype for her husband to wear as an alternative to the traditional hospital gown. After many iterations, she has developed a product that is delighting her customers at their time of greatest need.
It's great to see two startups I've been heavily involved with—KOSBE and PatientScrubs—come in to their own. Both are run by determined visionaries who have a passion for what they do.
Friday, September 24, 2010
Small Business Loans: The Conundrum
Today it appears that a new $30 billion loan program will be signed in to law. Yet, as one article points out, it may not do much to unclog the engine of economic growth that is small business.
Why? Because most small businesses aren't expanding in uncertain economic—and regulatory—times.
"Our business customers are mired in uncertainty and are reluctant to invest in their businesses," said William Chase, who is CEO of a Memphis community bank, Triumph Bank, adding that he's got enough money to cover the very limited number of loans that are being requested these days.
What about the loan program? Apparently Triumph isn't buying into it.
"We have taken a strategic decision not to have our primary regulator, the government, also be a partner in our bank," Chase said.
Food for thought.
How about a few investment tax credits instead? While I've been wary of SBA loans (express or otherwise) and don't recommend them to struggling companies due to the strings attached, I often recommend taking advantage of tax credits tied to investment.
Investment tax credits seem a less underhanded way of wealth re-distribution (or an easy way to free the flow of capital, depending on your perspective).
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