Small Business Seminars Coming to Monroe County

The national news continues to be full of talk about various types of “bailouts”--generally, for big business. But how do small businesses gather the resources they need to weather the current economic storm?

The Illinois Small Business Development Center (SBDC) is hosting a special seminar for current and prospective small business owners next month to answer this question. “Small Business Bailout?” is a free, one-hour presentation on resources available through the Illinois Entrepreneurship Network (IEN) and other government agencies, economic development organizations, chambers of commerce and similar groups. The seminar is set for Thursday, December 4th, beginning at 9:00 a.m. in the Monroe County Annex building in Waterloo (901 Illinois Ave.). There is no cost to attend, but preregistration is required to make sure enough materials are available for all attendees.

In addition, a “Small Business Basics” workshop will be held from 1:00 - 3:00 p.m. in the same location. This two-hour course covers the basics of starting and operating a business in Illinois. To register for either seminar, or for more information, call the Illinois SBDC at (618) 650-2929 or (618) 482-8330.­­

SBDC is funded by the Small Business Administration (SBA), Illinois Department of Commerce and Economic Opportunity (DCEO) and Southern Illinois University Edwardsville. Services available through SBDC include free, confidential, one-on-one sessions with trained business consultants; marketing and business plan development; and cost analysis.

Business Owners Told: 'Stay the Course!'

Economic development staff from the City of Columbia took part this afternoon in a national webinar on "Thriving in a Slow Economy"; sponsored by the National Main Street Center, this online seminar endorsed some of our current strategies such as the "Think Monroe County First" campaign.

Todd Barman, Program Officer for the National Main Street Center, offered succinct advice to economic developers from across the nation about how to support their community's smaller firms. He also summarized some key actions that individual business owners can take to keep their companies headed in the right direction despite buffeting from the economic downturn.

First and foremost, Barman advised, business owners need to stay the course. Consumer confidence is the key to buying, and their confidence grows in businesses that are moving forward in a calm, consistent manner.

Barman also recommended the following actions:

1. Review inventory levels more closely--don't stay overstocked or seriously understocked;
2. Determine your company's financial "break even" point and be more careful about reaching it;
3. Analyze your customer base;
4. Maximize the power of referrals;
5. Watch what the "big boys" in your industry are doing;
6. Participate in a "think local" campaign;
7. Take positive action--maintain a positive attitude.

'Think Monroe County (and Columbia) First'

City of Columbia elected officials and economic development staff are assisting the Monroe County Economic Development Council (MCEDC) in launching the new "Think Monroe County First" marketing campaign this week. The Columbia City Council pledged support for the campaign Monday night by approving a resolutions--joining the Waterloo City Council, which acted that same evening.

The new program is designed to increase consumer awareness of county businesses and to provide support during today's tough economic times. "This is not a new concept," MCEDC member Jane Kolmer told a lunch gathering of the Columbia Chamber today at Bully's Smokehouse. "It's just a new approach."

"Forty percent of every dollar spent locally stays local," Kolmer observed. "Why would you want to spend that money across the river when we get nothing?" Kolmer continued to drum up support for the program this week in a presentation to the Waterloo Chamber.

MCEDC is hosting a free public presentation for local merchants tomorrow night at The Falls in Columbia. Business owners or managers still wishing to attend the gathering need to RSVP by calling the Monroe County Commissioners' office at (618) 939-8681 x. 214 or by e-mailing action@htc.net.
There is a two-person limit per business for the event.

The "Think Monroe County First" program launches with the public next Monday, November 24th.

Advice for the New Administration...and Others

Tim Kane, senior fellow in research and policy at the Kauffman Foundation, has some advice for President-Elect Barak Obama--and other leaders:

"The business environment has become too complicated—taxes, litigation, patents, all these systems are too complex. It's become a very difficult operating environment for someone who simply has a good idea. I think the sheer volume of paperwork required to incorporate, or hire your first worker, is a barrier to start up formation. Tax complexity is probably a bigger issue than tax rates. Our new President and new Congress should focus their attention on streamlining the processes."

Does this advice also apply to state and local governments?