NEWS June 22, 2009

The Coming Entrepreneurial Boom
Economists know that entrepreneurship will drive the economy back to health, but many people may be surprised to learn that the baby boom generation is behind the wheel, according to a new study by the Ewing Marion Kauffman Foundation. The study, "The Coming Entrepreneurship Boom," found that several facts have emerged in the course of Kauffman Foundation research that indicate the United States might be on the cusp of an entrepreneurship boom -- not in spite of an aging population but because of it. Kauffman Foundation

Ugly shoes, beautiful story

Margot Fraser tried on her first pair of Birkenstocks during a tour of German health spas in 1966. She liked them so much she talked the manufacturer into a U.S. distributorship, only to find that no shoe retailers would touch the clunky, cork-soled sandals. Undeterred, Fraser exhibited at a health-food store convention and quickly signed up 20 or 30 customers. In the '70s, "the new generation adopted them as an emblem," helping Birkenstock USA become a $50 million company. Inc.


CALLING FOR VENDORS!
This July the Business Incubator Center will hold a Summer Open Market Place and Treasure Hunt. The event will feature vendor booths showcasing a variety of our clients from throughout the Valley, live music, a business treasure hunt with prizes, and for the kids, a bump-n-jump, face painting and balloon tying. The Summer Market Place will take place July 17, 2009 from 2:00 p.m. – 8:00 p.m. and will be located at the BIC campus parking lot. We expect approximately 300 to 400 attendees and guarantee an afternoon and evening of fun while celebrating local business and entrepreneurship.
How do you get involved?

- Mark your calendars – Friday, July 17 from 2:00pm to 8:00pm

- Want to have a booth to showcase your products or service? Vendor applications are available. Contact Annalisa Pearson for details: apearson@gjincubator.org or 243-5242 or register your booth here.

- Be a sponsor! Contact Chris Reddin to talk about of potential event sponsorship opportunities: creddin@gjincubator.org or 243-5242.

- Tell a friend... no tell all your friends and co-workers!

As you know, here in the Grand Valley we are a community that prides itself on its independence and ability to create our own prosperity. In these times of economic uncertainty, it is critical that our community seizes upon the opportunities at hand and that we do all we can to grow our own businesses. This work is exactly what we do at the Business Incubator Center. Today we are supporting hundreds of clients as they start and grow the businesses that will lead our community to forward. We are very excited to put on this event to highlight these businesses and show the community the opportunities, innovation and positive growth we see every day in our clients.

Business Incubator Center NEWS

More than Half of Fortune 500 Companies Were Founded in Recession or Bear Market.
A recent 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.

Not your father's taco cart
The lowly lunch truck is getting a gourmet makeover. With prices running around $150,000, mobile kitchens are a cheaper way for entrepreneurs to get into the restaurant business -- or for existing chefs to boost their revenue. Sales are down 20% to 25% at Hudson's on the Bend, a fine-dining restaurant in Austin, Texas, but chef-owner Jeff Blank says his new lunch truck, with an average check of less than $10, has made up the difference. The Wall Street Journal

The Start-up Guru: Y Combinator's Paul Graham
Paul Graham's startup factory, Y Combinator, funds about 40 companies a year at about $25,000 each, then provides them with lots of advice, networking and other resources. Of the 145 companies launched since 2005, about 80% are still in business, and some are the darlings of Silicon Valley. Inc.

CAMPUS LIFE

Tax Plan Workout: Dealing with the Business Tax Maze
This informative presentation will help you simplify some otherwise confusing tax issues such as tracking and paying all business taxes, computing & filing payroll taxes, depreciation of home or auto use in business, subcontracting vs. employment, sales tax as well as unemployment and use taxes. Cost is $45. Instructor, Pamela J. Belcher, CPA, has many years experience working with entrepreneurs in Mesa County. Other speakers include representatives from the Colorado Dept. of Revenue, Dept. of Labor and Employment and the Mesa County Assessor’s Office.
Date: June 18, from 9:00 am to 4:00 pm (lunch on your own from noon to 1 pm)

Cut the Fat: Lean Enterprise for a Mean Office Operation
In this interactive eight-hour training, your team will learn how to apply the key principles of Lean to your administrative processes. High-retention learning is accomplished through both classroom time and three rounds of simulation. Each round of simulation is followed by classroom learning focused on the basic building blocks of Lean Enterprise; participants then work as a group to modify their simulation work environment based upon their newly-acquired knowledge. Metrics are calculated between rounds to quantitatively measure incremental results of the improvements as the group evolves into a Lean organization. The training also includes two breakout sessions where participants can apply their learning to come up with opportunities and projects to improve their own work environment.
Who should come? Anyone who handles sale, customer service, engineering, estimating, purchasing, accounting, and other administrative and office responsibilities are the target audience of this workshop. Topics include: the basic principles of Lean, how to identify and eliminate waste, what are the Lean tools, how to apply Lean thinking to increase productivity, decrease costs and streamline the flow of products and information. Cost is $235 per person.
Date: June 23, from 8:00 am to 4:00 pm

LEADING EDGE – Business Plan Development Program
The Leading Edge Program is an intensive training course that provides business owners and entrepreneurs with expert guidance in the areas of cash flow management, marketing, finance, personnel, legal issues, and more. Each participant will receive hands-on assistance in preparing a complete business plan. Tuition is $275, and includes the NXLEVEL Guide for Entrepreneurs and the NXLEVEL Business Plan Workbook and Resource Guide.
When: August 18 - November 10, 200912 Sessions Tuesdays from 6:00 – 9:00 pm Call to register as soon as possible as the class does have a cap on the number of participants and it normally sells out.