entrepreneurship success – one approach at a time columbus oh nov ‘10

entrepreneurship success – one approach at a time

Columbus OHNov ‘10

What are the issues?

#1 What was out there? Did WE even know?

#2 What was missing?

. . . with communities . . . with funding

#3 How does a state reach businesses statewide?

#4 No spec building? park? not ‘desirably located’?

#5 Impact…sustainability…effectiveness…inclusiveness

#6 Utilize existing resources / what else?

How did we approach the issues?

#1 What was out there? Did WE even know?

Formed network

resource providers (state, federal)

Self assessment

65/1

Cross train

200 gathered

How did we approach the issues?

#2 What was missing?. . . with communities

. . . with funding

Created community-level initiative

“Entrepreneur Friendly”

Identified funding access gap

Created loan guarantee program

How did we approach the issues?

#3 How does a state reach businesses

statewide?

Through smart communities

“Entrepreneur Friendly”

How did we approach the issues?

#4 No spec? park? desirable location? (well equipped to serve what was there??)

“New assets” Non-traditional thinking Look at things differently Realize that 90+% were small Not just chamber members

How did we approach the issues?

#5 Impact…sustainability…

effectiveness… inclusiveness

Now that you caught the car, what do you do with it?

Youth? Influences? Geographic? Non-Members?

Strategic planning / resource awareness / professional development / best practices

Georgia’s “Entrepreneur Friendly” Initiative

Establish Leadership &

Support

IncreaseCommunityAwareness

Enhance Relationshipswith State &

Federal Resources

Map LocalEntrepreneurs &

Resources

Visit and SeekInput from

Entrepreneurs

What else?

#6 Utilize existing resources / What else?

Existing Business Program Export Services Military Defense Opportunities Mentor Protégé Connection Centers of Innovation / innovation networks Supplier Match Film & Entertainment Support Creative Economies (GA Made GA Grown) Associations

Why network???

~ ~ ~ ~ ~ ~ ~ ~

90% of what entrepreneurs learn,

they learn from _______ ???

~ ~ ~ ~ ~ ~ ~ ~

Are entrepreneursborn or made?

~ ~ ~ ~ ~ ~ ~ ~

_______% of 9th graders want to

start their own business;

by 12th grade, ________% still want to.

~ ~ ~ ~ ~ ~ ~ ~

What we see…

Trending:

- US: Bankruptcies are down 11% in Q3

- Loan demand low

- Working capital

- Lending on quality projects

franchising green/environment

auction consignment

repair rental

instant messaging

What we know…

Do you think that a recession has anything to do with

innovation?

GEORGIA welcomes you in 2011

Georgia Department of Economic Development

the best way to predict the futureIs to invent it…

Thank

you!! Mary Ellen McClanahan

Director, Entrepreneur & Small Business Development

Georgia Department of Economic Development

404.962.4820 memcclanahan@georgia.org www.georgia.org/smallbusiness

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