Whether or not you agreed with the current administration’s approach to jump starting the economy with the federal American Recovery and Reinvestment Act of 2009 passed back in February, the fact of the matter is that bill is already law and federal funds are being doled out to help grow the nation’s economy once again.

And although most of the media-hype has centered around multi-billion dollar gift cards issued to financial institutions in the form of TARP funding and to large publicly-traded corporations in the form of bailouts and public ownership, there are literally dozens of measures included in the federal economic stimulus package available to small businesses as well.

That was the idea behind our New North Small Business & Entrepreneurial Council arranging an upcoming best practices panel session focusing on how business owners and managers right here in northeast Wisconsin can access those resources designed to help their company survive and thrive through this economic turbulence. We have to credit Rep. Steve Kagen, the Eighth District congressman from Appleton, who held two sessions this past spring for business owners to learn how the stimulus package would improve U.S. Small Business Administration programs - primarily financing - to help existing businesses grow. But there’s much more than financing opportunities included in the stimulus package. We put together a panel to help explain those potential benefits to business owners.

The measure includes a variety of tax incentives designed to allow business owners to save more of their earnings. Jim Olson, a shareholder with Schenck Business Solutions, will be on hand to discuss a few of these tax benefits, such as an accelerated depreciation on capital equipment investments made in 2009. If your business is considering a new vehicle or a new stamping press, as examples, now might be the time to take advantage of these one-time tax savings.

As a business owner, have you thought about increasing your workforce for the summer with an internship but weren’t sure how to afford expanding your payroll? Or considering a new roof on your building and want to take advantage of energy efficient technology that might provide a “green” rebate or tax incentive? Billions of dollars from the stimulus package are funneled through state government to fund new and existing state-run programs to help stimulate the economy locally. In Wisconsin, Gov. Jim Doyle established a new state Office of Recovery & Reinvestment in late January to manage stimulus funds through various state agencies, and appointed UW-Madison vice chancellor Alan Fish as one of the directors of the office. Since state government programs providing stimulus opportunities are spread across several state departments, Mr. Fish has the most comprehensive knowledge of those programs available in Wisconsin and how business owners can leverage them to grow their companies. Mr. Fish will participate in our panel on June 23 as well.

Financing is still critical to businesses as much now as ever before, and U.S. Small Business Administration Wisconsin District Director Eric Ness will be on hand to shed light on a few of the lending programs strengthened by the stimulus package, including the SBA’s new ARC program which rolls out in the middle of June. Audience members at our June panel session will be among the first in the state to hear from Ness about this program, which provides emergency funds to small businesses in financial trouble with no fees and 100 percent backing from the federal government.

Lastly, Rep. Kagen himself will participate in our panel to provide the legislative perspective behind Congress’ crafting of the stimulus package, including the role our elected officials believe small businesses will serve in helping the economy rebound.

We’re proud of this panel that’s been assembled for this upcoming new North Small Business & Entrepreneurial Council session. We know those savvy business owners who attend this session will leave with a handful of ways in which their company can benefit from the federal stimulus package. Will you be one of them?

To register for this event, email Alex Kowalski at alex@altaexchangegroup.com

Sean Fitzgerald, President/publisher
New North B2B
P.O. Box 559
Oshkosh, WI 54903-0559
920.237.0254
sean@newnorthb2b.com
www.newnorthb2b.com

How many business owners have you heard say,

“I refuse to participate in this downturn in the economy!”?

Whether you believe they can or can’t control their destiny you have to admire their positive attitude.  That positive, can do attitude, that makes small business the back bone of our economy will play a huge roll in its recovery. 

How do these business owners and operators stay so positive?  I believe it’s through a positive network of peers and through educating themselves on what is true about the economy and what might be sensationalized.  Educating ourselves is the way to determine what information we use in making the best decisions for our businesses.

On June 23^rd the New North Small Business & Entrepreneurship sub-committee is hosting a panel discussion regarding the new stimulus package.  Here is an opportunity for business owners to gain a better understanding of what this package consists of and how it may help their businesses. 

The organizers have put together an impressive panel of distinguished people in the know, such as Congressman Steve Kagen; SBA District Director Eric Ness; Jim Olson, shareholder at Schenck Business Solutions; and Alan Fish who is the newly appointed Director of the Wisconsin Office of Recovery and Reinvestment.   

Come join me and participate in this educational seminar as we look to better understand what the stimulus package has to offer and learn more about other issues that may be discussed. 

Small business owners are the catalyst for our economic recovery in the NEW North.  Educate yourself and stay positive!

Take Care,

Gary Vaughan
Guident Business Solutions, LLC
920-427-507
gvaughan@guidentbuisness.com

STIMULUS OFFERS SOME SMOKE, SOME MIRRORS, SOME OPPORTUNITIES

(Register today for June 23 Panel Discussion)

There’s a lot of money flying around out there from the various econ stimulus initiatives.  Some may help.  Some come with risk.  

That’s the focus of the N.E.W. North’s Small Business and Entrepreneurship Committee panel discussion on June 23rd in Green Bay at NWTC from 9-11AM.

The panel, which is slated to include Congressman Steve Kagen, will address specifics of how the Recovery and Reinvestment Act of 2009 (commonly referred to as the Stimulus Bill) will allocate government dollars to the private sector.

Among the potentially positive provisions for business owners, says panelist Jim Olson, Partner, Schenck Business Solutions, are some “lucrative tax incentives.  However,” he warns, “they are not necessarily available to everyone equally.”

Specifically, Olson told N.E.W. North, if a business qualifies, there is an incentive for the purchase of fixed assets by end of year.  ”A business can write off the entire amount up to $250,000.  On top of that, if they have the money, they can take a “bonus depreciation” of 50% above $250,000.”

On the caution side, business owners and individuals should also be aware that the Alternative Minimum Tax (AMT) is still very much alive and a potential threat.  It could nullify much of the write-off incentives.

Also, Olson pointed out in an interview, under the Making Work Pay Credit, some taxpayers are receiving larger paychecks today.  However, some people may have to pay more at the end of the year.  

Perhaps the biggest danger is that so many initiatives have been introduced that the government is not sure what they all mean … let alone individuals and individuals.  It will take a long time to sort it all out.

That’s why the upcoming June 23rd panel discussion is so important.  The issues will not go away.  The businesses that understand the new laws are in a much better position to avoid problems and capitalize on opportunities.

Panelists include Congressman Steve Kagen; Wisconsin SBA District Director Eric Ness; Jim Olson, Shareholder at Schenck Business Solutions; and Alan Fish, Director of the Wisconsin Office of Recovery and Reinvestment.

Seating is limited, so sign up today.  To register, contact me at Alta Exchange Group either by email at alex@altaexchangegroup.com or phone (920-540-1072).    

John R. Ingrisano
Writing For The N.E.W. North
Custom Communications

CONGRESSMAN STEVE KAGEN & OTHERS TO DISCUSS
STIMULUS BILL AND THE RECOVERY
(Register today for June 23 Panel Discussion)

We are quickly approaching the halfway point of 2009 and I continually hear so-called “experts” talking about a “second half recovery.” Well if they are correct — and I’m certainly not here to debate that specific topic - what then is going to be the driver of business growth in the next six months?

The star-studded panel will answer your questions and discuss how the Recovery and Reinvestment Act of 2009 (commonly referred to as the Stimulus Bill) will allocate government dollars to the private sector.

Among the topics to discuss:

Where is the money going?
Who is getting it?
How can my company benefit from it?
What other parts of the bill affect my business?

Panelists include Congressman Steve Kagen; Wisconsin SBA District Director Eric Ness; Jim Olson, Shareholder at Schenck Business Solutions; and Alan Fish, Director of the Wisconsin Office of Recovery and Reinvestment.

This is a must attend event for all business owners as billions of dollars make their way into and through our economy. Are you positioned to take advantage of the programs that have been put in place?

The meeting will include a Q&A session where you can participate and ask specific questions of the panelists.

To register, contact me at Alta Exchange Group either by email at alex@altaexchangegroup.com or phone (920-540-1072).  Thanks.   

Alex Kowalski
President
Alta Exchange Group
920.540.1072
alex@altaexchangegroup.com

SBO Panel Discussion June 23rd

If the economic downturn has hurt your business, you may qualify for a short-term loan from the new SBA-sponsored program dubbed ARC (which stands for America’s Recovery Capital) Loan Program.

This is just one topic that will be addressed in the NEW North-sponsored panel discussion, “Stimulus Opportunities for Small Business,” on Tuesday, June 23, from 9-11 AM at the NWTC Business Assistance Center.  Attendance is limited to 40 people, so register soon.

Full details about ARC should come out in June.  In the meantime, here is what we know so far:

1. The loans are interest-free, backed by the SBA.

2. Repayment is deferred for 12 months.  

3. You may be eligible if your business is struggling due to lost customer base, an increase in costs, or a reduction in working capital or employees.

4. The maximum amount you may be eligible for is $35,000.

5. Loan payments can be used to make principal and interest payments on existing loans over a six-month period.

6. Loans will be approved on a case-by-case basis.

7.  Loans will be available from SBA-participating banks.

8. Loans will be available until allocated fund are depleted or September 10, 2010, whichever comes first.

The purpose of these loans is enable businesses to redirect their normal cash flow from loan repayment to investment in their businesses, such as inventory, expansion, payroll, and more.

Are ARC loans a good idea?  We’re not sure yet.  It will all depend on the fine-print details.

 Find out more about ARC loans at the June 23 panel discussion.  Admission is free, but seating is limited to 40 attendees, so register soon.  To register, contact Alex Kowalski, President, Alta Exchange Group either by email at alex@altaexchangegroup.com or phone (920-540-1072).

John R. Ingrisano
Writing For The N.E.W. North
Custom Communications

SBO Panel Discussion June 23rd

Business as usual?  If there ever was such a critter, he’s nowhere in sight this year … and is very likely to remain as scarce as unicorn sightings well into 2010.

That’s because, on one hand, the recession is threatening to push unemployment into double digits.  On the other, the multi-part economic stimulus package from Washington is sending a massive whirlwind of money across the land … and a fair amount will flutter to earth in the NEW North. 

What does all this mean to you?  For one thing, no, it’s not business as usual.  The stimulus package will continue to be a huge factor in my business and yours for some time to come.

According to Sean Fitzgerald, publisher of NEW North b2b Magazine, “We continue to hear about the stimulus package.  It’s an effort that’s changing almost weekly.  Programs are being added and modified.  New material, information and ideas just keep rolling out.  It’s really a massive piece of legislation, not easy to understand.  That’s partially because it’s not one single program, but thousands of programs nationwide.”

Where do you start in order to get a handle on what’s coming down? 

The NEW North is conducting a panel discussion on Tuesday, June 23, focusing on “Stimulus Opportunities for Small Business.” 

The panel discussion will be held at the NWTC Business Assistance Center on the west side of Green Bay.  During the program, which will run from 9:00-11:00 AM, a panel of tax, legal and business professionals will provide a macro-overview to help put the stimulus package in perspective, as well as address specific opportunities and cautions for business owners.

“The goal,” explains Fitzgerald, whose publication is helping organize the program, “is to help attendees understand and take advantage of it.  

“Participants will come away with an understanding of opportunities to reduce their taxable income in 2009,” adds Fitzgerald, as well as ways to capitalize on a number of other incentives.

Panelists will include:

Jim Olson, Partner, Schenck Business Solutions.

Alan Fish, Director, Wisconsin Office of Recovery & Reinvestment.

 Others to be announced.

Admission is free, but seating is limited to 40 attendees, so register soon.  To register, contact Alex Kowalski, President, Alta Exchange Group either by email at alex@altaexchangegroup.com or phone (920-540-1072). 

John Ingrisano

Writing For The N.E.W. North

Custom Communications

Whether tourism, retail, manufacturing or services, no one knows exactly what to expect from the economy for the rest of 2009. 

I know one fellow in commercial real estate (rumored to be the next shoe to drop in the economic spiral) who hasn’t taken in a dime of business since late last fall.  But I also know people in other sectors who are holding their own.

Most respondents in my “How’s business?” instant, unofficial, non-scientific survey I conduct at every business I enter, put sales down around 20%.  A few, however, stripped down and geared up, anticipating banner years.  According to one Appleton-based doctor, Jack Inyart, whose 2 B In Balance clinic specializes in hormone replacement, “I expect 2009 to be a growth year.” 

He’s not alone.  Many business owners we’ve talked to in the N.E.W. North are cautiously optimistic.  Those who thrive amid today’s changeable economic times are those who are prepared.
 
What can you do to thrive during changeable economic times and position your business for future growth?  Here are some common sense suggestions:

1. Devote two extra hours a day to business.  Simplistic, yes.  Effective, yes again.  Hard work is often the most important ingredient for success.  When times get tough, that’s the time to hunker down and focus extra effort on business.  Look at the difference two additional hours a day can make.  If you come in at seven rather than eight and stay until six rather than five, that adds up to ten more hours a week, 42 hours a month, or an additional 13 weeks a year (more than a full quarter).  You’ll be amazed at how devoting more time to the business can help improve productivity and help keep your business stable doing unstable times.
2. Scrutinize areas of profit and loss.  Study your books to better understand which activities bring the best returns and which either lose money or generate only a marginal profit.  Reminder:  You’re in business to make money.  Focus on activities that accomplish this goal and stop doing things that don’t.
3. Plan.  This is not the time to stick your head in the sand and wait for things to work themselves out.  The bottom line doesn’t take care of itself.  Be proactive:  Develop a 12-month strategy and revise it quarterly. 
4. Lock in long-term contracts.  When I saw the economic storm clouds gathering on the horizon, I contacted some older clients and offered special deals for the rest of 2009.  My goal:  I want to be the one still standing when the economic tide turns.   That means I need to keep that income stream flowing. 
5. Review every expense…every day!  Watch your cash flow like never before, and take steps to conserve your cash.  Make reviewing your books and cash position a daily ritual.  Ask yourself about every expense:  “Is this absolutely essential?”  If the answer isn’t a resounding “You bet!” then think twice before taking it on. 
6. Watch your credit line.  This may not be the time to borrow money.  Consider postponing expansion plans until the economy decides which way it will go. 

These are just some of the things you can do to help make sure your business keeps going — and even prospers — during these tough economic times.

What do you think?  What are you doing to keep your business surviving and thriving in 2009?  Let us know.  Add a comment to this posting, or send your ideas directly to john@TheFreestyeEntrepreneur.com 

John R. Ingrisano
Writing For The N.E.W. North
Custom Communications

“I’m doing whatever it takes to be the one still standing when the economy finally turns around.”  That comment, offered by a busy business owner in Verona last week, pretty much summarizes the get-tough mindset of business owners in Wisconsin today.

As a business journalist, I always ask everywhere I go, “How’s business?”  After the, “Great, just great,” I dig a little deeper.  The message I am hearing consistently — from The Dells to Madison to Appleton to Sheboygan to Door County to Green Bay — in this spring of 2009 is, “We’re off a bit, but holding our own.”

Though I have no stats to back it up, word of mouth and my gut tell me that most of us are off by about 20 percent.  That’s a bad cut in need of a few stitches, but not an out-of-control hemorrhage.

And that’s how most businesses dependent on tourism in the N.E.W. North seem to be viewing it.  “We are extremely dependent on summer tourism,” said Sallie Marqurdt, general manager at the von Stiehl Winery in Algoma.  “Not only are we a destination, but we’re also a stop on the way to Door County.

“Thus far,” added Marquardt, “we have noticed that we maybe have fewer customers, but they’re spending more.” 

What can you do if you are dependent on tourism dollars in Northeast Wisconsin?  Here are two common-sense tips for toughing it out amid tough tourism times (with more ideas next week): 

1. Maintain business as usual with your core products and customers.  Do not abandon what works.  Instead, focus on your proven profit centers.  “We’re conducting business as usual,” said von Stiehl’s Marquardt, “and we’re actually hiring more staff for the summer.”

2. Cut fat, but pump up marketing.  Review your expenses and eliminate “nice idea” costs (versus profit-focused necessities) while directing money into venues that spread the word:  updated brochures, fresh blog and website entries, social networking online links, print and other media advertising, as well as press releases … whatever helps remind visitors who you are, where you are, and what you do.   

What about you?  What are you doing to make sure your summer season is a profitable one?  Let us know by adding a comment or sending a blog entry to me at john@TheFreestyleEntrepreneur.com.  Hoping to hear from you.

John R. Ingrisano
Writing For The N.E.W. North
Custom Communications

It’s April in tourist country, Wisconsin.  The orders are being placed, the shelves stocked, summer-help job apps being reviewed, and renovations either completed or put off one more year.   

Now the tough part starts – the wait.  Will they come?  Will they spend?  Will it be a record-breaking season or a bank-breaking bust? 

For many of my friends in the restaurant, fishing charter, golfing, hotel and retail trades, as the summer traffic goes, so goes the entire year.  Explains Jim Truckey, owner of Good Tidings, vendor of unique nautical gifts located in Algoma, “if it wasn’t for summer tourism, we wouldn’t be in business.”

There’s a lot we can’t control – from the weather to the economy.  Still, smart communities and businesses improve the odds of success by relentlessly and aggressively promoting their tourism benefits. 

One of the best at that is Door County, which takes in more than $400 million in tourism business each year.  “It’s our biggest economic engine,” says Jon Jarosh, Director of Communications and PR for the Door County Visitor Bureau.

We are ranked seventh in tourism out of 72 counties in Wisconsin,” he adds, “with tourism providing the equivalent of over 13,000 jobs.”

Yes, Door County has a distinct advantage.  “We’re close – just a gas tank away – from some major metropolitan areas,” explains Jarosh.  “We’re well situated here.  Plus, it doesn’t hurt that we are an incredible destination.  Money Magazine named us one of the top ten destinations in North America.”

Still, great location and being a great destination are not enough.  Door County never lets up on the marketing.  The Visitor Bureau hits the ground running with promotions for the Festival of Blossoms that starts on April 30^th.  “That helps showcase Door County in the spring time,” says Jarosh.

It doesn’t stop there.  “We advertise in the Chicago Tribune, the Milwaukee Journal Sentinel, the Minneapolis Star Tribune, the Wisconsin State Journal and others,” says Jarosh.  They also do television advertising in Milwaukee and throughout the Fox Valley and are working on a number of other ways to bang the drum and get out the word that Door County is open for tourism business.

What about you?  As either a community or an individual business, what are you doing to attract summer travelers?  Let us know by adding a comment or sending a blog entry to me at john@TheFreestyleEntrepreneur.com.  Hoping to hear from you.

John R. Ingrisano

For The N.E.W. North

Custom Communications

204 Lakeview Drive

Algoma, WI 54201

(920) 559-3722

www.TheFreestyleEntrepreneur.com

If travelers can only afford one vacation this year,
we want them to make sure that it is to Wisconsin.”
                           – Kelli A. Trumble, Wisconsin Secretary of Tourism

The economy is in a mess.  Unemployment is growing.  What does all this mean for summer tourism business in the NEW North? 

Will people stay home, save gas, and vacation in the backyard kiddy pool?  Or will they cancel their cross-country road trip, opt for day trips and three-day weekends, and come roaring up the Lake Michigan shoreline and Fox Valley to spend their cash in our restaurants and motels, on our golf courses and in our shops?

Wisconsin Secretary of Tourism Kelli A. Trumble is optimistic.  “When times are tough,” she told NEW North, “the sound strategy is to invest in marketing.

“We are cautiously optimistic as we go into the summer season,” she said.  “We’re banking on Wisconsin’s longstanding reputation as a good value.  As a destination, we’re a tried and true tourism experience.”

Our goal, concluded Trumble:  “We plan to invest in telling our story and giving visitors compelling reasons to visit Wisconsin.  If travelers can only afford one vacation this year, we want them to make sure that it is to Wisconsin.”

What do you think?  If you count on summer tourism dollars, we’d like to know…

1. How you expect your business to look this year … and why.
2. What you are doing to prepare and make sure it’s a good year, regardless of what happens. 

Add your comment to this post. 

– John R. Ingrisano for NEW North,

www.TheFreestyleEntrepreneur.com

* * *