Small Business Entrepreneur blog

Start-Up Chile

2010-09-07T19:14:15Z

Start-Up Chile is an initiative of the Chilean Government to attract world-class early stage entrepreneurs to start their businesses in Chile. The pilot program will select 25 entrepreneurs and offer them a 1-yr resident visa, a USD 40k grant to cover expenses for six months and local network and support. The program office in Santiago will guide to a safe “landing”:
opening bank accounts, obtaining a Chilean ID, understanding the legal and tax system, while also providing temporary office space.

What does it finance?

- Human Resources: salaries of employees and of other professionals associated with the project’s activities, and others.
- Operational expenses directly associated to the project execution: administrative and office expenses, supplies, housing, insurances, promotion, flight tickets, and others.
- Investments: acquisition of fixed assets, technological equipment, computers, investments directly related with the project, and others.

Winner of the ‘Young Creative Entrepreneur Award’ From British Council

2010-09-06T18:42:19Z

Sandeep Maheshwari, founder of ImagesBazaar.com has bagged the coveted YCE (Young Creative Entrepreneur) Award instituted by the British Council, a division of the British High Commission in India. The British Council’s Young Creative Entrepreneur Awards programme has been developing a powerful professional network between creative entrepreneurs in India, UK and internationally.

The YCE awards ceremony was held at the British High Commission, New Delhi on September 1, 2010. The awards aim to reward creative entrepreneurs based in India for their contribution to their respective sectors. The YCE award programme goes beyond simply recognising the achievements of these entrepreneurs by providing them a platform to begin a dialogue with their UK counterparts.

The program also aims to link them with potential investment and mentoring opportunities in partnership with the Indian Angel Network (IAN), which is India’s first and largest business angel network.

    The judging panel for the YCE Communications Award included the following:

    - Mahesh Murthy, Founder, Pinstorm and Managing Partner, Seedfund

    - Jai Vikram Bakshi, Founder, Digiqom Solutions and representing the
      Indian Angel Network

    - Naved Akhtar, Co-Founder, Shop

    - Rajesh Dahiya, Founder, Codesign

According to the judges, “Sandeep illustrated his entrepreneurial skills through a perfect blend of a good idea and business venture leading to ‘real’ change. He looks for improving predictability in trends as reflected through his idea of 3D imagery and shows the relevant skills for successful collaboration and tie-up with the UK.”

On being bestowed with the award, Sandeep said, “I am honoured, humbled and oh-so proud to receive this award. It not only inspires our entire team to strive for excellence but also gives us an opportunity to collaborate with the creative fraternity of UK.”

A freelance photographer turned entrepreneur, Sandeep Maheshwari’s dream is to “Create an Image of India” like never before. He says, “We will take India to the world. In a few years, we will be behind every possible visual communication about India anywhere on the globe through our visuals, animations, illustrations and 3D imagery. In other words, the world will see India through our eyes.”

With over 800,000 images, http://www.imagesbazaar.com today has the world’s largest stock of Indian images where one can search, purchase and download as per his needs. In simple words, it slashes down the cost of producing a shoot from lakhs of rupees to a few thousands and the time from weeks to a few minutes. At present, over 6000 clients in more than 42 countries use images from http://www.imagesbazaar.com for their advertising, marketing and publishing needs.

Tunisia to host Global Entrepreneurship Week

2010-09-05T08:13:19Z

Tunisia will soon host the 2010 edition of the Global Entrepreneurship Week. It is the first time Tunisia hosts such an event.

The event which is organized simultaneously in 92 countries throughout the world, will run from November 7 to 14, 2010.

Launched by the Kaufman Foundation and Enterprize UK, the Global Entrepreneurship Week aims at targeting young entrepreneurs and decision makers with a view to share their experience and foster entrepreneurial skills among those wanting to start their own business.

Organized by the Arab Institute of Heads of Enterprizes, the Entrepreneurship Week will feature seminars, exhibits and workshops throughout the country, in collaboration with companies, universities, and associations.

Well established business figures, project holders and financial backers will take part in the event which will also showcase the most inspiring success stories.

In 2009 the Global Entrepreneurship Week included some 33,000 events in 77 countries involving 7,5 million people.

Outcome for African Agriculture at African Green Revolution Forum in Ghana

2010-09-05T08:11:56Z

A series of outcomes from the inaugural African Green Revolution Forum (AGRF) has moved a united Africa forward in the quest to transform agriculture and tackle food security.

Closing the forum in Accra, Ghana, AGRF Chair, Kofi Annan, praised the efforts of public and private institutions, development organizations, the donor community and farmers, to accelerate the green revolution in Africa.

“Today we move forward, strongly united and passionately committed to the concrete actions that we have jointly developed,” said Mr Annan.

AGRF Executive Co-Producer, Akin Adesina, said the meetings kick-started a new phase in the African green revolution:

“We have brought together in Accra great minds and strong spirits who, even as they depart in different directions, will stay bound by the common purpose and firm outcomes we have agreed on here.”

On the third, and final, day of the event, the AGRF agreed to pool efforts and resources to scale up breadbasket project plans and investment blueprints for agricultural growth corridors.

Ghanaian Minister for Agriculture, Kwasi Ahwoi, invited new partners to join the Ghana breadbasket initiative.

The Prime Minister of Tanzania, H.E. Mizengo Pinda, agreed to finalize a blueprint for the Tanzania Southern Corridor by January 2011.

In a communicate issued to delegates, the moderators of breakout panel sessions published a series of concrete outcomes of the AGRF, including:

· empowerment of women throughout the agricultural chain by accelerating access to improved technology, finance and markets

· backing for the Impact Investment Fund for African Agriculture to scale up access to finance by farmers and agri-businesses

· investment for science, technology and research for food nutrition security

· accelerated access to improved seed by promoting the entire value chain, including support for plant breeding, seed companies and seed distribution systems

· improved fertilizer supply systems and more efficient fertilizer value chains

· more inclusive business models linking agri-business, commercial farms and smallholder farmers

· better water management

· mixed crop livestock systems

To ensure progress is made on the firm commitments, the AGRF issued to delegates a detailed plan of action.

Government and development groups including the African Union and AGRA will conduct peer review assessments to ensure various science and technology inventions and innovations are implemented as soon as possible.

“I am delighted to see that we have agreed monitoring mechanisms on the actions,” said Jorgen Ole Haslestad, CEO of Yara, strategic partner of the AGRF.

Agri-business companies Yara and Syngenta said at the AGRF they are working towards a new land use initiative to create a fact-based dialogue and to better understand the interaction of agriculture and climate change.

The road ahead

Those implementing new commitments will not lack resources:

“We pledge ourselves to work with all other key partners to ensure that capacity is not a limiting factor in the green revolution,” said Namanga Ngongi, President of the Alliance for a Green Revolution in Africa (AGRA), the organisation that founded the AGRF alongside Yara.

Mr Annan thanked the government leaders, including H.E. Mizengo Pinda, H.E. Olusegun Obasanjo, former President of Nigeria, and the Hon. John Dramani Mahama, Vice President of Ghana, who had taken part in the AGRF.

“These gracious, impassioned leaders threw their political weight behind this shining moment of transformation for Africa,” said Mr Annan.

And he urged governments and parliamentarians to help eradicate poverty and realize the dream of a green revolution.

“The time for action is now. For as you leave this forum, you are carrying upon your shoulders the vibrant hopes of a generation and a continent. We will not dash the dream of the African farmer,” said Mr Annan.

“With our hands on the plough, we will till this beautiful land’s soil together, and help Africa reap a bountiful harvest.”

EAST EUROPE ENERGY, ENVIRONMENTAL & SECURITY PROJECTS FAIR 2010

2010-09-05T08:07:35Z

The projects presented at 4Esp 2010 will target the 10 countries from East Europe that have recently joined the European Union between 2004 and 2007: Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia; with a total population exceeding 102 million. Candidate Countries to follow soon: Croatia, the former Yugoslav Republic of Macedonia, Turkey, and Iceland; have a total population of 80 million.

These new EU members from East Europe are all NATO members and they also benefit from funds related to the environment and security as part of the ENVSEC initiative in conjunction with the United Nations.
Until 2013, the European Union is granting non-reimbursable Structural and Cohesion Fund grants of about 308 billion Euros to undertake projects in a variety of sectors. Many of these projects will be performed by the private sector, in partnership with public authorities and is offered to all the new EU member states from Central and Eastern Europe.
In addition, the Swiss, via its bilateral agreements with the EU, have allocated the sum of about 770 million Euros to the new EU member states, with an additional 200 million Euros for Romania and Bulgaria, pro rata to their respective population as of June 2010

All these funds and grants are intended to boost these countries economies and reduce the economic and social disparities in an enlarged EU. Thus at the 4Esp 2010 Fair, these projects are presented for eligible funding to the European Union, NATO, and the Swiss, plus the G8 countries not members of the EU namely USA, Cananda, Russia and Japan.

Austrian Business Forum Bucharest, 28 September 2010

2010-09-04T18:23:34Z

Where have Austrian companies set foot? The banking and finance sector has been one of the attractions for many foreign investors, but Austrians have managed to fill the top positions on the local scene by taking over the biggest firms active locally or by creating the top players through a series of takeovers. Join us at the second edition of the Austrian Business Forum to get in touch with the Austrian investors and managers doing business in Romania! Program: 09:00 – 09: 30 – Guest registration 09:30 – 11: 30 – Panel discussions 11:30 – 12: 00 – Buffet lunch Confirmed panelists: Rudolf LUKAVSKY, Commercial Counsellor – Austrian Embassy to Bucharest Kurt WEBER, Managing Director – Horvath & Partners Romania Moderator: Prof. Dr. Joerg K. MENZER, Managing Partner – Noerr Romania Topics include: How do Austrian investors feel the effects of the recession in the local economy? The far-reaching presence of Austrian investors across all sectors of the Romanian business landscape and theire turnaround expectations The Austrian presence in the banking industry. The profile of the Romanian banking client and what does it say about the local economy. Where are the future areas for development? The insurance sector: where do Austrian companies see their future involvement? Constructions and infrastructure: taking a clue from the Austrian model. What can companies looking to enter the local market learn from the experience of Austrian companies in heavy industry, manufacturing, recycling? What other sectors might be of interest in the future?
Ramada Plaza Bucharest
Business Review
http://business-review.ro/events/country-focus-series/austrian-business-forum/9558/

Clarkson University’s Entrepreneurship Center Offering Free Small Business Training in Potsdam and Saranac Lake

2010-09-04T07:45:14Z

Clarkson University’s Entrepreneurship Center will offer the popular My Small Business 101 series in Potsdam and Saranac Lake this fall.

The center had a combined 65 small business owners in attendance during the Ogdensburg and Louisville series held this summer and registrations for the next offerings are coming in daily.

Small business people in all stages of business are invited to attend this very successful course, which is delivered in four weekly two-hour sessions. Each week, Marc Compeau, director of the Entrepreneurship Center, will focus on a different topic, including Thinking Strategically, Resource Management, Marketing Management and Financial Management.

“The program has been very successful,” says Compeau. “Participants have told us that they receive lots of practical and useful information, tools and resources. They also appreciate the encouragement and inspiration. We are looking forward to our return to campus and to welcoming our inaugural class to the new Adirondack Business Center in Saranac Lake.”

The Potsdam course will be held on September 20, September 27, October 4, and October 11 from 6 to 8 p.m. in Bertrand H. Snell Hall on the Clarkson campus.

The Saranac Lake course will be on October 19, October 26, November 2, and November 9 from 6-8 p.m. at the Adirondack Business Center at 141 River Street. Registration is required and the course is free.

Those interested in attending the Potsdam course should contact Erin Draper at the Entrepreneurship Center by Monday, September 13, at 315-268-3995 or edraper@clarkson.edu.

CBIZ Small Business Employment Index Reveals Consecutive Monthly Declines

2010-09-04T07:43:04Z

Today, CBIZ Payroll Services — a business unit within professional and financial services firm CBIZ, Inc. announced the CBIZ Small Business Employment Index for August decreased by 1.01 percent. This was the second consecutive monthly decline in employee payrolls within the small business surveyed — an indication that small businesses remain cautious and fearful that the economy’s recovery is stalling.

The index has seen correlation with the federal government’s Bureau of Labor Statistics’ report throughout 2010 and serves as a preview to the report to be released on Friday, September 3.

Additional take-away points from the August data includes:

– More companies are cutting staff: The payroll data showed that 28 percent of the companies managed by CBIZ Payroll Services slashed their headcount during the month of August, compared to 24 percent of companies doing so in July. Year-to-date the data shows more jobs have been added than cut.

– More signs of caution: Of the 2,964 companies included in the survey in August only 22 percent added employees and 50 percent made no change. July data showed that 26 percent of companies added staff; while 50 percent maintained headcount (2,917 companies represented the total companies during the July index).

– What to watch: Going forward, seasonal occupation will have more effect on employment numbers as the summer ends.

Philip Noftsinger, Business Unit President for CBIZ Payroll Services, monitors the monthly data on behalf of CBIZ and notes, “We’ve been experiencing relative stability in the overall employment market. We tracked only marginal changes in employment levels, which are consistent with the period of limited economic growth that the economy has experienced since the recession ended.”

Currently, CBIZ Payroll Services manages payrolls for more than 2,900 businesses that employ fewer than 300 people. The sample reflects a broad array of industries and geographies corresponding to the markets across the United States where CBIZ provides services. Noftsinger is available for media interviews to discuss small to mid-market employment trends and other payroll trends impacting the American business environment.

(Editor’s Note: The United States Department of Labor’s “Employment Situation for August 2010″ numbers are announced on September 3, 2010 at 8:30 A.M. Easter Time. Also, a chart illustrating the trend-lines is available for interested editorial outlets.)

Citibank Survey Shows Majority of Small Business Owners Bracing for a Double-Dip Recession

2010-09-04T07:42:03Z

Despite continuing challenges, vast majority of small business owners love or like running their business

The vast majority of small business owners (86 percent) are concerned that the economy may experience a double-dip recession, according to the latest Citibank small business survey. At the same time, 75 percent of survey respondents say they are very or somewhat prepared for another downturn, signaling that many entrepreneurs have adjusted their businesses and finances to get through any additional economic stumbles.

According to the survey, 68 percent of business owners say they have changed the way they run their business — with 64 percent indicating the way they do business has forever changed. Among the adjustments, respondents cited debt reduction (42 percent), increasing cash reserves (40 percent), hiring freezes (34 percent) and delaying plans for expansion (32 percent). When asked what factors allowed them to weather the recession, small business owners listed long-term client base/relationships (62 percent), effectively managing expenses (57 percent), and recession-proof products or services (35 percent).

“Small businesses continue to feel the effects of today’s uncertain business environment,” said Raj Seshadri, the head of Small Business Banking at Citibank. “Yet we are encouraged to see businesses adjusting to the economic environment and preparing for additional challenges — so they are ready to expand and grow when conditions improve.”

To improve or grow their business this year, business owners say they plan to work longer hours themselves (61 percent), increase marketing (48 percent), and increase employee productivity/get by with fewer employees (44 percent).

Realistic but Passionate

Mirroring findings of previous surveys, a majority of small business owners (76 percent) rate current business conditions as only fair or poor, and only 28 percent diagnosed their business as better off today than a year ago. Additionally, while 42 percent say they expect their business to improve in 12 months, 58 percent believe conditions will worsen or remain about the same.

Respondents cited higher taxes (48 percent), declining demand for their products and services (43 percent), tighter business regulations (40 percent), and the cost of health insurance (40 percent) as the primary challenges to running their business today.

Yet despite the challenging outlook, small business owners’ passion for their work continues to shine through in Citibank’s survey.

Eighty-one percent of small business owners say they like or love running their own business, and 75 percent say they would start their business again even if they knew then what they know now about the challenges they would face, up 4 percentage points from the previous survey, conducted in March. Additionally, 59 percent said they would recommend entrepreneurship as a career to their children.

“No matter what the economy throws at them, business owners remain passionate about their business and resolute about their choice of career,” added Seshadri. “Our survey continues to reveal the unique spirit, passion and commitment that entrepreneurs bring to their businesses and the communities they serve.”

Small business hiring plans remain tepid, with 83 percent of business owners planning to reduce (7 percent) or keep the same number of employees (76 percent) in the next 12 months. Small business owners say they would increase hiring if they experienced an increase in sales; yet nine in 10 say they would need to see sales increase for at least two quarters in a row before hiring new employees. Other hiring drivers for small business owners include more certainty that the economy is recovering (53 percent) and a reduction in payroll taxes (41 percent).

Israel offers vast business opportunities to Indians

2010-09-04T07:41:08Z

MUMBAI, India – 27 August 2010 – “Israel, which is the home of enterprise, innovations and R & D, offers vast business opportunities to Indians”, says Ms Orna Sagiv, Israeli Consul-General in Mumbai. She was addressing well-attended meeting organized by Indian Merchants’ Chamber on August 26.

The meeting, which was jointly organized by IMC, the Federation of Indo-Israel Chambers of Commerce, Indo-American Chamber of Commerce and Rotary Club of Bombay, also unveiled an IMC plan to lead a delegation to Israel and Jordan from November 23 and December 3, 2010, for not only discovering vast business opportunities, but also for visiting holy sites and historical places of religious interest to Jews, Christians and Muslims.

Introducing her, Mr Dilip Dandekar, IMC President, recalled that IMC and FICCI jointly led a business delegation to the Agritech fair in Israel in 2009. “On this occasion, IMC also signed MOUs with Israeli counterparts. In November this year, we are again sponsoring a big delegation to Israel, under the leadership of IMC’s immediate past President Mr Gul Kripalani”, he said and invited members of the public to join the delegation.

Ms Orna Sagiv said,”India and Israel were both working towards signing a Free Trade agreement soon. “Already, Israel has such agreements with US and other developed countries, in addition to Egypt and Turkey in the Middle East. Like India, Israel is a democracy; it has an ancient culture and highly resourceful people. But, unlike India, Israel has a small, arid landmass, inhabited by seven million people; it receives very little rainfall. And hence our people, perforce, are required to be highly inventive and resourceful for survival in this competitive world. Israel has more companies listed on NASDAQ than any other country outsider North America. It has the world’s largest number of start-ups, except for the US. It will be the first country to launch electric car network. It has the world’s largest number of scientists. It is the home of silicon miracle and leading to scientific breakthroughs such as cellular telephony and voice over IP (internet protocol).”

The Consul-General also cited her country’s pioneering contributions to humanity in the fields of biotechnology, agronomy, water management, solar and geothermal energies, waste-water recycling, environment etc. “All this happened because we have an enterprising, resourceful, high-quality human capital, numerous local as well as US-based venture capitals, and the democratic government that supports all R&D and innovative endeavours,” she said.

Mr Gul Kripalani said that the proposed delegation to Israel would not be confined only to members of the sponsor Chambers, but would also include other interested people. “The Maharashtra government is likely to depute some officials to visit Israel, if only to study its advanced agronomic practices .Our itinerary is flexible and tailor-made to suit different segments of the delegation members. The businessmen, who do not have much time to spare, will be offered the facility to conclude their business exploratory visit in the first three days, after visiting the business sites and holding one-on-one talks. For religious groups, the duration can be five or six days, and for the holiday-makers, it will be 12 days.”

Chicago VC and Angel Conference

2010-09-04T07:40:02Z

On September 14, 2010, FundingPost (www.FundingPost.com) will be hosting a panel discussion with local Angel Investors and Venture Capitalists at its “Chicago VC and Angel Conference,” sponsored by Perkins Coie LLC. FundingPost has organized 165+ sold-out venture events over the past nine years. Leading Venture Capital and Angel Investors are set to speak and coach entrepreneurs at the FundingPost Chicago event on September 14, 2010. The FundingPost Event Calendar and registration information are online at: http://www.FundingPost.com/events.asp

Top Venture Firms will gather at FundingPost’s upcoming event to discuss the trends in Early-Stage Investing, hot sectors, sectors that these Angels and VCs look at, things that are most important to them when they are considering an Investment, the best and worst things an entrepreneur can do to get their attention, additional advice for entrepreneurs, and, of course, the best ways to reach these and other Investors.

Moderator:
Ted Wern, Perkins Coie LLP
Speakers:
Michael Gruber, Founder, Cornerstone Angels
Meredith L. Schwarz, Managing Director, General Mills Ventures
Jim Schultz, Partner, Open Prairie Ventures
Andrew S. Whitman, Managing Partner, 2x Consumer Products Growth Partners
Mathew Ingle, Associate, Best Buy Capital

“We are excited for our first event in the Chicago area. It’s a great opportunity for a early-stage companies,” said Joe Rubin, Director, FundingPost. “Early-stage VCs are always on the lookout for great ideas, and FundingPost is proud to provide a forum for these investors to locate promising new ventures. We hear new success stories from companies raising capital after pitching at our events all the time!”

As with all FundingPost events, there will be pitching and plenty of networking time for the entrepreneurs to meet the investors! There is still space available, but the event is limited! To register to attend, visit: http://www.FundingPost.com/events.asp

Cooklet celebrates its first month of operation

2010-08-30T17:47:12Z

It has been one month since the launch of Cooklet, the result of collaboration between IKS and Adobe Systems Inc. Several thousand members from around the world have been actively using web services and applications ‘made by Cooklet’, a strong step towards its international success.

In the past month Cooklet has taken its first steps to becoming an international brand name. The culinary platform has been visited by people from 60 countries worldwide. The homepage www.Cooklet.com has recorded almost 25000 page views and the average time spent per visit is 9 minutes and 2 seconds. The rapidly growing user base has also been contributing to the list of food and drink recipes.

‘We didn’t expect this kind of popularity in just one month” said Grzegorz Trubiłowicz, CEO of IKS. ‘Especially the number of users from around the world is impressive, as the international promotion is still being planned. It was a time of intensive administrative and technical work in addition to really productive discussions with authors, publishers and producers. The effects of the cooperation will be visible shortly on the platform.’

Cooklet has developed a presence on social networking sites like Facebook, Twitter and YouTube. To recognise the talent and skills of the users on the platform the distinction of ‘Cookletter of the month’ will be awarded. For August it was given to Dorota Bulbiak of the leading food blog ‘Pozytywna Kuchnia’. This is one form of promotion for the users.

Cooklet is a culinary and social networking platform, through which people from all over the world can find inspiration and share their cooking experiences. The idea behind it is to organize recipes using easy to use, interactive cookbooks. The platform consists of a homepage – www.Cooklet.com, the mobile version – www.Cooklet.mobi and applications for desktop (Cooklet App) and for devices (Cooklet Lite). The whole system uses complex software solutions such as artificial intelligence, automatic translation and full synchronization between all elements of the platform.

Cooklet – inspiring culinary organiser.

Female Entrepreneurship in East and South-East Asia: Opportunities and Challenges

2010-08-30T17:34:31Z

Female Entrepreneurship in East and South-East Asia: Opportunities and Challenges
has hit the shelves with some interesting researches on:

opportunity to acquire knowledge on the socio-economic roles played by women as entrepreneurs in the region
description and analysis of the issue in countries at different stages of economic development and with different socio-economic and cultural environment
a broad approach encompassing historical, political, sociological, economics and businesses-related aspects of female entrepreneurship
a complex and contrasted portrait of female entrepreneurs, their motives to be an entrepreneur, their desires for risk-taking and self- satisfaction
an explanation that while sharing similar ideals, expectations and willingness to achieving their objectives, there exist profound differences among but also within the different Asian countries in regard of female entrepreneurship characteristics

This detailed study of female entrepreneurship in Asia examines the high economic growth that is increasingly driven by market-oriented economic reforms favouring entrepreneurship. There is a higher awareness by women of their political and socio-economic rights and recognition by society at large of social legitimacy of women pursuing business activities in their own right. Female Entrepreneurship in East and South-East Asia assesses socio-cultural and economic factors influencing female entrepreneurship in Asia as well as the entrepreneurial process and the tools and challenges that accompany it

Key Topics Covered:

Introduction
The rising tide of entrepreneurship
Historical and current socio-political and economic context of female entrepreneurship
Evolution of the concept of female entrepreneurship and the reality of women-owned businesses
The institutional environment of female entrepreneurship
Women in the labor market
Public policy supporting female entrepreneurship
Results of the field survey
Conclusions

Author:

Professor Philippe Debroux is a Professor of International Management at Soka University (Japan). He is also visiting Professor of International Management and Human Resource Management on a regular basis at Hanoi Economic University, Tsukuba University (Japan), Rennes University Center for Japanese Studies (France) and Brussels Solvay Business School MBA program.

For more information visit http://www.researchandmarkets.com/research/18efe3/female_entrepreneu

US Small businesses won $96.8 billion in federal contracts 2009

2010-08-30T17:30:29Z

Small businesses nationwide won a record $96.8 billion in federal contracts last year, an increase of more than $3 billion over fiscal 2008, the U.S. Small Business Administration reported Friday.

Contracts awarded to small businesses accounted for nearly 22 percent of all federal spending last year, according to an annual scorecard released by the SBA that tracks small-business procurement. “There was an increase in both dollars and contracting share for every small-business category,” SBA Administrator Karen Mills said in a statement.

“This represents real progress, but not enough. We must reaffirm our commitment to ensuring that the 23 percent (of all federal spending) goal is met and exceeded.”

The SBA tracks businesses in five categories: small businesses overall, women-owned small businesses, small disadvantaged businesses, service-disabled veteran-owned small businesses, and so-called HUB Zone business that are in historically underused business zones.

Of those categories, only one — small disadvantaged businesses — exceeded its goal for the year in 2009. Its contract awards represented 7.6 percent of all federal funding in 2009, or $33.5 billion, exceeding the category’s goal of 5 percent.

“Federal contracts awarded to small businesses are a win-win, providing small businesses with the opportunity to grow and create jobs, and offering innovative services and essential goods to the government at great value to the taxpayers,” Mills said.

According to the SBA, additional funding and contract opportunities arose in 2009 due to the American Recovery and Reinvestment Act. Through early August, small businesses landed more than 30 percent of Recovery Act contracts. The SBA is required to report regularly to the president and Congress on how federal agencies and departments perform against their annual goals, in an effort to increase accountability.

In the scorecard released Friday, the SBA graded 24 federal agencies on various contracting goals set by Congress and is available online at www.sba.gov.

Angel Africa Enterprise Conference 2010

2010-08-30T17:26:58Z

This conference will highlight the investment climate in southern Africa, which is comprised of 15 countries (SADC) and showcase the latest economic developments that make this region a stand-out region for investment and entrepreneurship following the region’s historic hosting of the 2010 FIFA Soccer World Cup.

There will be a session dedicated to providing an overview of the business climate in Southern Africa highlighting various sectors in SADC, the legal framework to facilitate trade and investment. Other sessions will have a more in-depth discussion for sectors such as banking and capital markets, mining, technology, education, agribusiness and fashion amongst others. Throughout the day, business tips, mentoring and one-on-one meetings with entrepreneurs and mentors will be possible and are encouraged.

Us based professionals in various industries that focus on or have US-African trade, business executives of successful regional companies and social entrepreneurs will share their vision, experience and thoughts about the future of the region. For this conference Angel Africa is going to welcome panelists such as: Lauri E. Elliott, Director at Afribiz Media, Guy Zibi, Managing Director at AfricaNext Investment Research, LLC in the US, Fungai Tarirah, Head, Africa Investments at RMB Asset Management in South Africa, J. Skyler Fernandes, Chief Operating Officer of the South African Chamber of Commerce in America, Paul Eardley-Taylor, Head Energy, Utilities and Infrastructure for South Africa & Africa at Standard Bank, Eduardo O. Vieira, Founder and President of NOVACAO Sociedade Corretora de Valores S.A in Angola amongst others.

America’s Fastest-Growing Private Companies—the Inc. 5000

2010-08-26T18:18:05Z

Inc. magazine today ranked VerticalResponse NO. 1570 on its fourth annual Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent-minded entrepreneurs. Music website Pandora, convenience store chain 7-Eleven, Brooklyn Brewery, and Radio Flyer, maker of the iconic children’s red wagon, are among the prominent brands featured on this year’s list.

“The leaders of the companies on this year’s Inc. 5000 have figured out how to grow their businesses during the longest recession since the Great Depression,” said Inc. president Bob LaPointe. “The 2010 Inc. 5000 showcases a particularly hardy group of entrepreneurs.”

VerticalResponse is a leading provider of self-service email marketing, online surveys and direct mail, and an essential part of more than 85,000 small businesses’ marketing strategies worldwide. In the past year, VerticalResponse joined the Google Apps Marketplace enabling Google Apps users to easily build new mailing lists and access email marketing tools to help grow their businesses; VerticalResponse also released a major product upgrade to its email marketing platform including integrations with popular social media platforms Twitter and Facebook. In addition, the company won The U.S. Chamber of Commerce’s Blue Ribbon Small Business Award and CEO Janine Popick was recognized as San Francisco’s Small Business Person of the Year by the U.S. Small Business Administration (SBA).

“I’m so proud to have VerticalResponse included on this prestigious list for 5 years running. Being able to maintain growth in this economy is challenging, but with our team’s hard work and passion for helping small businesses grow, it’s paying off,” said Janine Popick, CEO of VerticalResponse. “We’ve also got more than 85,000 customers of every type to thank for supporting us and helping us achieve our goals.”

The 2010 Inc. 5000, unveiled today on Inc.com, serves as a unique illustration of the profound changes taking place in the U.S. economy. The Government Services sector showed the biggest gain in terms of the number of companies on the list, up 33 percent from last year to 335 companies. Government Services was also the second-fastest-growing sector in terms of median revenue growth, posting a 202 percent gain over the 2006-2009 measuring period. More than half of these companies are based in Maryland, Virginia, and Washington, D.C. The fastest-growing sector by median revenue growth was Real Estate, now just a tiny group of 38 young, small companies, which showed 231 percent median growth over the period. (There were 121 Real Estate firms on the inaugural Inc. 5000 in 2007.) Business Products & Services is the top industry by number of companies on the list (640) and total revenue ($80.7 billion), while Health is the biggest by total employment (287,726 jobs).

Despite the fact that most of this year’s measuring period of 2006-2009 took place during the latest recession, aggregate revenue among the companies on the list actually increased to $321.6 billion, up more than 50 percent from last year. The effects of the recession are seen, however, in the median three-year growth rate, which dropped to 96 percent from last year’s 126 percent. This year’s Inc. 5000 employ a record 1.4 million people, up from one million on last year’s list. With unemployment remaining stubbornly high, policymakers and business leaders will do well to look to the Inc. 5000 companies for fresh ideas on achieving growth and creating jobs.

Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on www.inc.com/5000.

The Hottest Regions for Fast-Growing Companies

Once again, California tops the Inc. 5000 with the most companies of any state with 684. The Golden State is followed by Texas (404), New York (353), Virginia (293), and Florida (262). All 50 states, plus Washington, D.C., and Puerto Rico, are represented on this year’s list.

New York boasts 410 Inc. 5000 companies, making it the top metro area, followed by Washington, D.C. (363), Los Angeles (262), Chicago (203), and Boston (189).

Methodology

The 2010 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2006 to 2009. To qualify, companies must have been founded and generating revenue by June 30, 2006. Additionally, they had to be based in the United States, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2009. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2006 is $80,000; the minimum for 2009 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. The top 10 percent of companies on the list constitute the Inc. 500, now in its 29th year.

Asian Banks Not Supportive of Entrepreneurship Says Survey

2010-08-25T19:38:51Z

AsiaBusinessInvestor.com, a web portal connecting entrepreneurs and private investors in Asia and the Middle-East, recently released the results of a survey of the current investment climate for private investment in unlisted companies in Asia.

Responding to the survey 45% of those involved in raising capital and investing in private unlisted companies surveyed claim that banks in Asia are not at all supportive of private investment and entrepreneurship. Only 12% believe that banks are very supportive and 43% believe that banks are only partially supportive.

Key survey highlights:

Approximately, 60% think that the economic environment will improve in the next 12 months
64% think that now is a good time to invest in private and unlisted companies in Asia

The survey was conducted with AsiaBusinessInvestor.com’s database of over 4,000 investors, intermediaries and those seeking to raise private capital in Asia in unlisted private companies.

The median deal size is between US$250,000-$500,000 with a third (33%) of the surveyed respondents involved in deals over US$1 million and 10% of respondents involved in private investments more than US$10 million.

Survey says that small businesses have a weaker overall economic outlook in quarter 2

2010-08-25T18:54:01Z

Capital One Small Business Banking today released the results of its Small Business Barometer survey for the second quarter of 2010. The quarterly survey polls small businesses across the nation, gauging their current financial condition and business projections for the next six months. Survey results for the second quarter of 2010 suggest that many U.S. small businesses are experiencing stable or improved financial performance, but an increased number of businesses surveyed have grown more cautious about near-term plans for adding employees and spending on business development and investments. For small businesses looking for growth opportunities, survey results suggest that most will have access to any financing or credit needed.

“Survey results for the second quarter of this year suggest that financial performance has stabilized or even started to improve for most small businesses surveyed in the U.S., continuing a trend we first observed in the first quarter,” said Robert M. Kottler, Executive Vice President of Small Business Banking at Capital One. “However, compared to results from the first quarter, small businesses are slightly less optimistic about economic conditions and an increased number of small businesses plan to hold off on capital investment and job growth plans for the next six months.”

Outlook and Financial Performance

The survey results for the second quarter of 2010 suggest that the overall economic outlook of U.S. small businesses has weakened slightly compared to the first quarter. In the first quarter, 39 percent of small business owners surveyed said that economic conditions for their business were improving, but this number dropped to 32 percent in the second quarter of this year. Forty-three percent of small businesses report stable conditions and one-quarter (23 percent) say that economic conditions are getting worse. Although their outlook slipped this quarter, financial performance for small businesses continues to show strength. About one-third (37 percent) of small business owners polled report that their firm’s financial position is better than it was one year ago, consistent with last quarter but up 12 percentage points year-over-year. Forty-three percent of small businesses report stable financial performance and only 19 percent say that finances have worsened relative to one year ago, down 17 percentage points compared to the second quarter of 2009.

Gulf Oil Spill

While the survey results suggest that the Gulf oil spill has had a minimal impact on the national sample of small businesses to date, uncertainties surrounding potential longer-term consequences may be dimming the economic outlook of some small businesses this quarter. To date, only 11 percent of small businesses surveyed say that their business has decreased since the spill, and 8 percent say that business has actually picked up. However, in the longer term, one-quarter (25 percent) of small business owners or managers nationally believe the disaster will have a moderate to significant impact on their business and an additional 17 percent say that it’s too early for them to predict whether or not their business will be affected.

Spending and Investments

Despite reporting improved or steady finances, most U.S. small businesses polled plan to hold off on additional business development and investment spending in the near-term. Well over half (60 percent) of small businesses say they plan to keep business development and investment spending at current levels for the next six months. One-in-five (21 percent) small businesses in the survey plan to increase investment spending while only 16 percent say they plan to decrease spending. Small firms are also cautious about hiring plans. Only 26 percent of small business owners surveyed say they plan to add employees to the payroll over the next six months, down 6 percentage points since last quarter but consistent with results throughout 2009. Correspondingly, the percentage of small businesses planning to hold off on hiring over the next six months jumped from 62 percent last quarter to 67 percent this quarter.

Availability of Financing

The survey results suggest that most small businesses continue to have adequate access to credit and financing. Nearly three-quarters (73 percent) of small businesses surveyed report that they are able to access the financing they need while 19 percent say they do not have adequate access to credit and financing. This quarter, fewer small businesses appear concerned about their ability to meet their financing needs. In the first quarter of 2010, 29 percent of small businesses said securing the capital needed to continue operations would be a major challenge over the next six months, but this number fell to 21 percent in the second quarter. When asked about funding sources for financing their firm’s growth, half (50 percent) of respondents say they will seek financing from a bank or commercial lender while 35 percent will rely on personal savings. Fortunately, most small businesses (78 percent) have developed a strong relationship with their bank or banker, which will help them when it comes time to explore cash management and financing options.

Survey Methodology

The findings reported in this release are from a telephone survey conducted by the opinion research firm, Braun Research of Princeton NJ. Braun Research interviewed a nationally-representative sample of 1,905 for-profit small businesses in the U.S., weighted to Dunn and Bradstreet counts of all businesses nationwide by employee size and geography. Samples were also taken in New York, New Jersey, Louisiana and Texas. Small businesses are defined as those with less than $10 million in annual revenue. The interviews were conducted from July 1-21, 2010. All interviews were conducted by telephone at their places of business. One respondent per business was contacted. The margin of error is ± 4.37 percentage points at the 95% confidence level. Interviews were monitored at random. Sampling for this study was conducted using a national sample of businesses drawn from InfoUSA. All interviews were conducted using a computer assisted telephone interviewing system. Statistical weights were designed from the United States Department of Commerce to ensure proper inclusion of all SIC codes.

The Africa Enterprise Challenge Fund (AECF)

2010-08-25T18:51:29Z

What is the AECF?
The Africa Enterprise Challenge Fund (AECF) is a US$50-100m private sector fund, backed by some of the biggest names in development finance and hosted by the Alliance for a Green Revolution in Africa (AGRA). Our aim is to encourage private sector companies to compete for investment support for their new and innovative business ideas.

Where does the AECF work?
The AECF is open to proposals from all countries in Africa. Multi-country and regional projects are also eligible. We operate from three regional hubs (Nairobi, Accra and Johannesburg).

What is the relationship between AGRA and the AECF?
AGRA is an alliance jointly created in 2006 by The Rockefeller Foundation and the Bill & Melinda Gates Foundation aimed at improving agricultural productivity and small holder farmer well-being throughout sub-Saharan Africa. AGRA is registered as a non-profit entity in the United States, but operates out of Nairobi, Kenya, where it is registered as the branch of a foreign corporate entity. From Kenya, AGRA is managing programs supporting agricultural development across sub-Saharan Africa. The AECF is a special partnership initiative of AGRA that supports AGRA’s mission. The Board of AGRA provides the governance structure for the AECF and is responsible to the AECF’s donors. However, in practice, the AECF operates as an independent fund reporting to its own Investment Committee which in turn reports to a Governing Council made up of its donor funders and ultimately AGRA’s Board.

Interview with PlaySay.com Founder & CEO

2010-08-25T18:25:21Z

Ryan Meinzer is a young entrepreneur that needed to learn a new language fast, found a new way to learn and started a business on the idea. As I found out this story is not being a lucky entrepreneur but about having an idea and making a business out of it. Just do it. Let’s give Ryan the chance to present himself via this 3 minute intro, then will get to the interview:

Read the interview with Ryan here.

Tipping the Odds for the Entrepreneur: Big Ideas on Success for the Small Business Owner

2010-08-25T18:22:49Z

A few weeks ago I had the chance to interview Mr. Kevin C Maki, author of the book “Tipping the Odds for the Entrepreneur: Big Ideas on Success for the Small Business Owner” (www.TippingTheOdds.com). I will make a review of the book soon, but in the meanwhile, during the interview I was impressed to find out Kevin’s ideas about persistence, entrepreneurs willingness to delay gratification and what makes a successful entrepreneur:

Cristian: Hi Kevin, welcome on board. Tell us a few words about yourself.

Kevin: When I was a teenager I took a job working at a hotel owned by a couple who had come to the US from Eastern Europe. I learned a tremendous amount from them about how to run a successful business. During the 10 years I worked for them the number of rooms in the hotel increased from just over 100 to more than 400 (including a second property they built next door). This experience triggered a life-long fascination with entrepreneurship and the factors associated with small business success and failure. I am trained as a scientist and have managed to combine my interests in science and entrepreneurship in a business that designs and conducts clinical trials to tests food and pharmaceutical products.

Read the interview here.

Interview with SunBug Solar, a green energy company from Massachusetts

2010-08-25T18:20:44Z

Cheney Brand has owned and managed SunBug Solar, LLC since January 2009. SunBug is a solar energy consulting and installation company, offering everything from system design to solar panel installation to federal and state incentive processing. A strong belief in the importance of strengthening the environment prompted him to move to the green sector.

I had the chance to interview Cheney and find out about the availability of green loan programs designed to sustain green products and services, one example being Accion USA. As a leader in U.S. microfinance, ACCION USA empowers business owners with access to capital and financial education. In addition they offer a green loan program with reduced interest rates on loans made to small businesses that provide or use green products and services.

Read the interview here.

Young Entrepreneur Wins Shell LiveWIRE Award with Innovative Task Management Site

2010-08-24T18:25:55Z

The idea came to Florence Iwuoha as she encountered certain tasks that perhaps would be a cinch for others to perform, but somehow proved to be troublesome for her. Why not establish a service clearinghouse type of site, where users can post tasks to be performed and willing people can perform them in exchange for a small fee, she reasoned. From that idea, myTaskAngel was born, and quickly earned a Ј1,000 financial boost that accompanied the Shell LiveWIRE Grand Ideas Award.

Shell LiveWIRE is dedicated to assisting young entrepreneurs succeed in the business world, and they do so by providing free startup advice, support as well as funding. They also recognize achievements by young professionals through their two business awards, the monthly Ј1,000 Shell LiveWIRE Grand Ideas Awards and the annual Ј10,000 Shell LiveWIRE Young Entrepreneur of the Year Award. To be recognized by a Shell LiveWIRE award means that a young entrepreneur’s idea is sound, innovative and superior to its contemporaries.

The site myTaskAngel is in essence an online marketplace for tasks, where service providers can be matched with specific tasks that they can perform for a fee. Having access to myTaskAngel is akin to having a personal assistant by your side. Whenever you encounter difficulties with what you are doing, you may opt to have an expert at myTaskAngel take over for you. The “angel” performing your task will earn a small fee, and you can free yourself from the troublesome task. The concept is refreshingly straightforward and infinitely useful for those procuring services as well as for those providing them.

Practically any task one can think of can be posted in myTaskAngel. So long as there is someone able and willing to perform the task, the transaction should clear. While many view the benefits of myTaskAngel from the perspective of those procuring the service, the benefits realized by service providers should be noted as well. People seeking to perform odd jobs in exchange for a fee will be happy to participate in myTaskAngel’s model, particularly because it offers them a one-stop-shop in their search for many odd jobs to perform.

“The beauty of myTaskAngel is its ability to accept a custom task request that couldn’t possibly be easily sourced elsewhere. For example, one could request a service provider to pick up food, dry cleaning, pet supplies and a book, all in one trip,” notes Florence Iwuoha, the award-winning entrepreneur behind myTaskAngel.

The Shell LiveWIRE Grand Ideas Award winning site is currently in limited public beta, but will launch in the very near future. Interested users are encouraged to visit the myTaskAngel site and sign up to ensure that they receive the newsletter and notification when the service goes live.

About:
myTaskAngel is a online marketplace that enables people overwhelmed with their daily to-do lists find qualified and eligible “angels” within their neighbourhood or community to complete these tasks for them.

Okakarara Trade Fair, September 3-12

2010-08-24T18:23:50Z

The fair will present numerous opportunities for setting up small and medium enterprises, while those with an inclination for farming would also find the trade fair very useful.

The agricultural side of the show will feature various service provi-ders in the agricultural sector, with the notable presence of Agra and Meatco, who will have information sessions during the entire event.

“Information sessions will deal with issues such as farm management, crop production, and how to manage livestock,” says Kambatuku.

The region will also host an inter-regional agricultural and industrial show, subsequent to the trade fair. The show will be hosted by the Otjozondjupa Communal Farmers’ Union and Omaheke Regional Farmers’ Union, which effectively brings the two regions of Otjozondjupa and Omaheke together.

More info here.

$1 million in cash awards for the best new business concept

2010-08-24T18:18:47Z

The Business Accelerator Network for Southeast Michigan, a new region-wide network for building and retaining new business in southeast Michigan, today announces the Accelerate Michigan Innovation Competition, an international business plan competition designed to highlight Michigan as a robust and vibrant venue for innovation and business opportunity.

The New Economy Initiative for Southeast Michigan has granted Ann Arbor SPARK $750,000 to launch the competition on behalf of the Business Accelerator Network for Southeast Michigan, composed of four of the region’s key business accelerators– Ann Arbor SPARK, Automation Alley, Macomb-OU INCubator, and TechTown. Joining the Accelerate Michigan Innovation Competition as partners for event are the University Research Corridor (Michigan State University, the University of Michigan and Wayne State University) and Business Leaders for Michigan.

The Accelerate Michigan Innovation Competition will uncover the best and brightest new business concepts from local and global entrepreneurs, exposing those opportunities to potential investment capital and fostering their growth within Michigan. Slated to be the world’s largest business plan competition with more than $1 million in cash awards, plus in-kind awards of services, staffing and software, the Accelerate Michigan Innovation Competition targets early stage businesses with proven technology and potential to generate an immediate impact on Michigan’s economy, as well as student concepts with longer-term business viability.

The business plan competition is open to entrepreneurs in Michigan and worldwide who are willing to establish a business in the state. Participants will submit entries in nine categories including advanced materials, advanced transportation, alternative energy, homeland security and defense, information technology, life science, medical devices, next generation manufacturing and products and services. A separate track designed specifically for students to submit business concepts is open to any undergraduate or graduate student attending a Michigan university or college in fall 2010.

The competition kicks off on August 24, 2010, and culminates with a gala awards brunch in Ann Arbor on December 11, 2010. The Accelerate Michigan Innovation Competition concludes with the University of Michigan vs. Michigan State University “Big Chill” hockey game at Michigan stadium and includes a pre-game tailgate party for all judges and participants.

“The Accelerate Michigan Innovation Competition highlights Michigan as the destination for innovation,” said David Egner, executive director of the New Economy Initiative. “As the first of many projects of the Business Accelerator Network for Southeast Michigan, the competition will help to accelerate the transition of our region to an innovation-based economy. We are pleased that the University Research Corridor and Business Leaders for Michigan are joining with us as partners and support the message that Michigan is an ideal place to launch and grow a new business.”

“The Accelerate Michigan Innovation Competition provides second stage entrepreneurs with the opportunity to showcase their ideas and grow their companies in a region where new business thrives due to the unique resources available,” said Michael Finney, president & CEO of Ann Arbor SPARK. “We also hope to reach the large number of talented Michigan University and college students and encourage them to submit their homegrown ideas to build upon Michigan’s entrepreneurial ecosystem.”

For more information about the Accelerate Michigan Innovation competition, visit www.acceleratemichigan.org, or connect with the competition via Facebook, Twitter and LinkedIn.

About the Business Accelerator Network for Southeast Michigan

The Business Accelerator Network for Southeast Michigan is new region-wide network for building and retaining new business in southeast Michigan. Composed of the region’s four key business accelerators– Ann Arbor SPARK, Automation Alley, Macomb-OU INCubator, and TechTown, the organization will work collaboratively to share best practices, host events focused on addressing issues and goals that impact southeast Michigan, support business plan development, and leverage funding to grow business in the region.

The Business Accelerator Network for Southeast Michigan is supported through a three-year, $3 million grant from the New Economy Initiative for Southeast Michigan.

About The New Economy Initiative

The New Economy Initiative for Southeast Michigan (NEI) is an innovative philanthropic effort to accelerate the transition of metro Detroit to an innovation-based economy that expands opportunity for all. Ten national, regional and local foundations have committed $100 million to this unprecedented eight-year initiative, including the Community Foundation for Southeast Michigan (Detroit, Michigan), the Max M. and Marjorie S. Fisher Foundation (Southfield, Michigan), the Ford Foundation (New York, New York), the Hudson-Webber Foundation (Detroit, Michigan), the W.K. Kellogg Foundation (Battle Creek, Michigan), the John S. and James L. Knight Foundation (Miami, Florida), The Kresge Foundation (Troy, Michigan), the McGregor Fund (Detroit, Michigan), the Charles Stewart Mott Foundation (Flint, Michigan), and the Skillman Foundation (Detroit, Michigan). The participating foundations are leading the implementation and governance of the Initiative. The Community Foundation for Southeast Michigan, which initiated the collaborative, is serving as its administrative home. For more information, please visit http://neweconomyinitiative.cfsem.org/.

About the University Research Corridor

Michigan’s University Research Corridor (URC) is an alliance of the University of Michigan, Michigan State University, and Wayne State University with a vision to contribute toward the transformation of Michigan’s economy.

The URC is among the top R&D clusters in the nation (compared with regions of the USA such as Route 128 in Boston, Research Triangle in North Carolina, and Silicon Valley in Northern California) for producing patents, new business, and graduates with high-tech related degrees needed in growing new fields. In addition, the three universities serve as a magnet in helping to attract new business to the state of Michigan. http://urcmich.org/.

About Business Leaders for Michigan

Business Leaders for Michigan (www.BusinessLeadersforMichigan.com), the state’s business roundtable, is dedicated to making Michigan a “Top Ten” state for job and economic growth.

The organization is composed exclusively of the chairpersons, chief executives or most senior executives of Michigan’s largest companies and universities, which provide over 300,000 jobs in Michigan, generate over $1 trillion in annual revenue and serve over 130,000 students.

SOURCE Business Accelerator Network for Southeast Michigan