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| Jennifer Marusak |
For Economic Development Marketing
As I continue my trek around the state, having logged more than
4,000 miles to date, one thing as become abundantly clear - very few
people know how Louisiana funds its transportation system.
I have run into many people, both in the civic and business groups that I have met with, that are surprised to learn that 1) the Transportation Trust Fund is funded primarily through the 16-cent gas tax that was never indexed for inflation, and that 2) the TTF is used for other programs that don't entail building or maintaining the state's transportation grid. This week, after meeting with the Greater Shreveport Chamber of Commerce this afternoon, I will meet with several media outlets and local government officials tomorrow in the Shreveport/Bossier area before addressing the very large membership of the Shreveport Downtown Rotary Club. I will continue on to meetings in St. Martinville and Jonesboro before ending the week with a media interview in Baton Rouge.You should all begin to notice billboards going up in the major media markets of Baton Rouge, Monroe, Shreveport, Alexandria, Lake Charles and Lafayette. For those of you in the New Orleans area, there were no billboards available for purchase during the time slots we needed. Radio spots and newspaper ads will follow once the 2007 Regular Session of the Louisiana Legislature has begun. Next week will mark a very important step forward for Driving Louisiana Forward. I will speak at the Baton Rouge press club on Monday, April 2, to announce the specific legislation that will be promoting during the session. Please make sure to watch the news, and I will forward our proposals to you as soon as I can. You should be very pleased to see who joins me at the podium for our announcement! As always, feel free to email me or give me a call with conversations that you are having, 225-572-1916. You can also continue to access the website, www.drivinglouisianaforward.org to contact your legislators and see the latest happenings with the campaign. |
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| Site selection expert to headline April 11-12 event |
Registration begins
Governor Kathleen Babineaux Blanco and Louisiana Economic
Development announce the opening of registration for this year's
Governor's Conference on Economic Development, being held April 11-
12 at the River Center in Baton Rouge. The annual event features
Dennis Cuneo, former senior vice president of Toyota Motor
Manufacturing of North America and currently serving as counsel at
the Washington, D.C., law firm Arent Fox, who will deliver the keynote
address. Site Selection magazine once called Cuneo "one of the most
sought-after site seekers in the world."
Register online at lagovconf.com. Early registration fee is $125 per person through March 14, 2007. Beginning March 15, registration will increase to $150. For more information on the event’s breakout sessions and speakers, visit lagovconf.com. |
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Business Recovery Grant and Loan
Program
The Office of Governor Kathleen Babineaux Blanco today began
mailing more than 3,400 grant award acceptance letters for the
Business Recovery Grant and Loan Program.
"My Business Recovery Grant and Loan Program is designed to get much-needed cash into the hands of the thousands of small businesses still working hard to recover from Hurricanes Katrina and Rita. Most of these businesses have fewer than 10 employees and are located in the hardest hit areas of the state. These small businesses are the backbone of our economy, and are struggling to keep their doors open. We heard their stories, and have carefully crafted this innovative program to not only help individual businesses, but to also spur economic growth in these communities," said Governor Blanco. Businesses with fewer than 10 employees make up 88 percent of the recipients. Grants went to businesses across the southern part of the state, from Plaquemines to Cameron, and just over half were minority or women-owned. The average grant size was $18,100. Click here to view the grant disbursement fact sheet.Next week Gov. Blanco will personally visit businesses approved for grant awards, walking them through the acceptance process. Grant recipients are asked to sign and return the acceptance letter outlining terms and conditions for the grants as soon as possible. A stamped, addressed envelope will be included to expedite this process. Upon receipt of the signed acceptance letter, the issuing community-based financial institution will process and mail the award checks. "It's a sad fact that many of our small businesses are hanging on by a thread," said Louisiana Recovery Authority (LRA) Economic and Workforce Development Chairman Matt Stuller. "We've heard this from the business owners and seen it with our own eyes. It's not enough money to get us back where we were - we know that. But I hope this will give them the boost they need to keep their doors open and relieve some immediate burdens they've struggled with for far too long." Following Governor Blanco's recommendation, the LRA board recently approved $68 million in funding in addition to the original $138 million allocated for the Business Recovery Grant and Loan Program. The funds will enable the State to provide a second round of grants and loans to small businesses impacted by the hurricanes. This request must be approved by the Legislature and the Department of Housing and Urban Development. "These additional funds validate the success of this program," said Michael Hecht, director of business recovery for Louisiana Economic Development. "The second round of grants and loans will have broader eligibility requirements, allowing additional worthy businesses to qualify beyond this pilot phase of the program." Nearly 5,600 businesses applied for grants through the program, designed to help small businesses in South Louisiana that continue to feel the impact of hurricanes Katrina and Rita. Letters to businesses who did not meet eligibility requirements will be mailed beginning Monday. Businesses that submitted complete applications but were not approved for the initial grant phase will be automatically submitted for consideration for the next phase of the program, expected to begin in the coming months. With grant letters going out the doors, the seven non-profit community financial institutions processing applications will now begin to schedule closing for the zero percent interest loans that are also part of the program. To date, more than 1,000 applications for loans have been received. For updates on the Business Recovery Grant and Loan Program, sign up for LED's BusinessWire at LouisianaForward.com. |
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This is a wonderful opportunity to highlight and honor a business
in the
community.
If you are uncertain if a business has received the Lantern Award in a
previous year, you are welcome to call Marguerite Walter,
985.974.6444 or Perry Felarise, 225-383-5203.
2007 LANTERN AWARDS CRITERIA 1. Company Information - Contact Information 2. Overview/Significant Historical Events - An overview of the business, including significant historical events. 3. Product/Services Offered - Description of the products/services offered by the company. 4. Employee Growth/Plant Investments-Sales - Growth in number of employees for years 2004, 2005, 2006 - Dollar amount of expansions for 2004, 2005, 2006 5. Community Involvement - Membership in, and contributions to, community/civic groups 6. General Remarks - Any additional information, including efforts the company has made to purchase raw materials and supplies within the state. PAGE ONE OF NOMINATING PACKAGE SHOULD INCLUDE THE FOLLOWING INFORMATION AND NO OTHER: 1. Name of manufacturing company a. Contact person(s) b. Plant / Complex Manager (identify by proper title) c. Address (INCLUDING PARISH) d. Phone number / Fax Number e. Web site address and e-mail address 2. NOMINATOR(S) (limit to two nominators) a. Nominator name b. Organization or company c. Address d. Phone number / Fax number 3. A brief description of the company’s products or services. PLEASE DO NOT INCLUDE ANY ADDITIONAL INFORMATION ON THE FIRST PAGE OF THE PACKAGE. ********** THIS SECTION OF NOMINATING PACKAGE SHOULD CONSIST OF THE LETTERS OF NOMINATION. ********** THIS SECTION SHALL BEGIN THE NOMINATION NARRATIVE. EACH CATEGORY HAS A POINT VALUE. A TOTAL OF 100 POINTS IS POSSIBLE. THE CATEGORY POINT VALUE IS SHOWN. 1. OVERVIEW/SIGNIFICANT HISTORICAL EVENTS. THIS CATEGORY HAS A VALUE OF TEN POINTS. In narrative form, give an overview of the business, including significant historical events. Copies of newspaper and/or magazine articles can be included here (affix to white paper and properly identify). 2. PRODUCTS/SERVICES OFFERED. THIS CATEGORY HAS A VALUE OF TEN POINTS. In narrative form, give a description of the products/services offered by the company. 3. EMPLOYEE GROWTH/PLANT INVESTMENTS/SALES. THIS CATEGORY HAS A TOTAL VALUE OF 30 POINTS. Indicate the growth in number of employees over the past three calendar years, by year (2004, 2005, 2006). Put information in column form shown below. Employees at end of 2004 - 10 points Employees at end of 2005 - 10 points Employees at end of 2006 - 10 points 4. EXPANSIONS IN DOLLAR AMOUNT, THIS CATEGORY HAS A TOTAL VALUE OF 30 POINTS. Indicate the dollar amount of expansions over the past three calendar years, by year (2004, 2005, 2006). Put information in column form shown below. 2004 - 10 points 2005 - 10 points 2006 -. 10 points 5. COMMUNITY INVOLVEMENT. THIS CATEGORY HAS A VALUE OF TEN POINTS. List membership in, and contributions to, community/civic groups 6. ADDITIONAL INFORMATION. THIS CATEGORY HAS A VALUE OF TEN POINTS. Include any efforts made to purchase raw materials and supplies within the state. 7. Letters of endorsement from public officials. Address the letter to: Secretary Michael J. Olivier Louisiana Department of Economic Development P.O. Box 94185, Baton Rouge, LA 70804-9185 8. SENATORIAL DISTRICT OF NOMINEE Representative district of nominee SUBMITTAL: Nominations shall be sent to the respective district. Region 1 - New Orleans REGIONAL PLANNING COMMISSION TEL (504) 568-6611 1340 Poydras Street, Suite 2100 FAX (504) 568-6643 New Orleans, La 70112 rpc@norpc.org PARISHES: Jefferson, Orleans, St. Tammany, St. Bernard, Plaquemines Region 2 - Baton Rouge CAPITAL REGION PLANNING COMMISSION P.O. Box 3355 333 North 19th Street Baton Rouge, La 70821 TEL (225) 383-5203 FAX (225) 383-3804 crpc@brgov.com PARISHES: Ascension, East Baton Rouge, Ibervile, Point Coupe, Livingston, Tangipahoa, St. Helena, West Baton Rouge, East & West Feliciana, Washington Region 3 - Thibodaux SOUTH CENTRAL PLANNING & DEVELOPMENT COMMISSION P.O. Box 1870 Gray, La 70359 TEL (985) 851-2900 FAX (985) 851-4472 kevin@scpdc.org PARISHES: Assumption, Lafourche, St. Charles, St. James, St. John the Baptist, Terrebonne Region 4 - Lafayette ACADIANA REGIONAL DEVELOPMENT 601-C Loire Avenue P.O. Box 90070 Lafayette, La 70507 TEL (337) 886-7782 FAX (337) 886-7081 smcgee@ardd.org PARISHES: Acadia, Evangelince, Iberia, Lafayette, St. Landry, St. Martin, St. Mary, Vermillion Region 5 - Lake Charles IMPERIAL-CALCASIEU REGIONAL PLANNING & DEV. COMM. P.O. Box 3164 326 Pujo Street, 4th Floor Lake Charles, La 70602-3164 TEL (337) 433-1771 FAX (337) 433-6077 james@imcal.org PARISHES: Allen, Beauregard, Calcasieu, Cameron, Jefferson Davis District 6 - Alexandria KISTACHIE-DELTA REGIONAL PLANNING & DEVELOPMENT DISTRICT, INC. 3516 Parliament Court Alexandria, La 71303-3135 FAX (318) 487 5451 TEL (318) 487-5454 kdelta@kricket.net www.kdelta.org PARISHES: Avoyelles, Catahoula, Concordia, Grant, LaSalle, Rapides, Vernon, Winn District 7 - Shreveport THE COORDINATING & DEVELOPMENT CORPORATION P.O. Box 37005 5210 Hollywood Avenue Shreveport, La 71133-7005 TEL (318) 632-2022 FAX(318) 632-2099 www.cdconline.org cdc@shreve.net PARISHES: Bienville, Bossier, Caddo, Lincoln, DeSoto, Natchitoches, Clairborne, Sabine, Webster, Red River District 8 - Monroe NORTH DELTA REGIONAL PLANNING & DEVELOPMENT DISTRICT 1913 Stubbs Avenue Monroe, La 71201 TEL (318) 387-2572 FAX: (318) 387-9504 www.northdelta.org david@northdelta.org PARISHES: Caldwell, East Carroll, Franklin, Jackson, Madison, Morehouse, Ouachita, Richland, Tensas, Union, West Carroll Note: All nominations shall be considered confidential. If you require any additional information or have any questions contact Skip Smart at the Louisiana Department of Economic Development Tel (225)342-4321. |
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Application Deadline June 1, 2007
For arts activities occurring between October 1, 2007 and September
30, 2008
Decentralized Arts Funding (DAF) grants will soon be available to the
nonprofit arts community, and free workshops to assist grant seekers
in the
application process are scheduled for April and May. The workshops
are led
by the Arts Council of Greater Baton Rouge, which administers DAF
for
Ascension, East Baton Rouge, East Feliciana, Iberville, Livingston,
Pointe
Coupee, St. Helena, Tangipahoa, Washington, West Baton Rouge, and
West
Feliciana parishes.
Nonprofit organizations, government agencies, schools, universities, and libraries are all eligible to apply for programs in dance, design, folklife, literature, media, music, theatre, and visual arts/crafts. Please mark your calendars for one of the dates below. Even if you have applied previously, plan to attend a workshop as the guidelines and forms will be changing slightly. Updated forms will be posted on our website, www.artsbr.org, in a few weeks.WORKSHOPS: Wed, April 18, 3:00pm West Baton Rouge Museum 845 N. Jefferson Ave Port Allen Thurs, April 19, 11:00am Ascension Parish Library 500 Mississippi St., Donaldsonville Thurs, April 19, 2:00pm Ascension Parish Library 708 Irma Blvd. Gonzales Mon, April 23, 10:00am Arts Council of Greater Baton Rouge 427 Laurel St. Baton Rouge Tues, April 24, 11:00am Pointe Coupee Parish Library 201 Claiborne St., New Roads Tues, April 24, 2:00pm West Feliciana Parish Library 11865 Ferdinand St. St. Francisville Thurs, April 26, 11:00am East Feliciana Parish School Board 12732 Silliman St. Clinton Thurs, April 26, 2:00pm Audubon Regional Library Hwy 10 Oak Plaza Greensburg Mon, April 30, 11:00am EBRP Library 1900 Church St. Zachary Mon, April 30, 3:30pm EBRP Library 3501 Groom St. Baker Thurs, May 3, 3:00pm Iberville Parish Library 24605 Gerald Berret Blvd. Plaquemine Tues, May 8, 11:00am Hammond Regional Arts Center 217 E. Thomas St. Hammond Tues, May 8, 2:30pm Arts Council of Livingston Parish 133 Hummel St. Denham Springs Wed, May 9, 4:00pm Arts Council of Greater Baton Rouge 427 Laurel St. Baton Rouge Thurs, May 10, noon Washington Parish Library 304 Avenue F. Bogalusa If you have any questions please reply to this e-mail or contact me at the number below. I look forward to seeing you at the workshops! Laura Larkin Grants Director & Community Development Coordinator Arts Council of Greater Baton Rouge 427 Laurel Street Baton Rouge, LA 70801 225-344-8558 fax 225-344-7777 llarkin@acgbr.com www.artsbr.org |
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Tip of the Week
1. Follow Your Passion
There are some chores that you as an entrepreneur must endure. If you are passionate enough about the other facets of the business, you will put up with what you don't particularly enjoy. If you find something you love, I assure you that your work will be considerably easier.
2. Have a Clear Idea About What You Want to Do In today's competitive marketplace, it's not possible to be all things to all people. What's more, it takes vast resources to dominate your marketplace. If multibillion-dollar companies can't do it, neither can your start-up company. Even large, established companies look for ways to fill a niche. To the novice entrepreneur, I recommend you find a niche - offer a service that isn't currently being filled. Interestingly, some niches are too small for big corporations to pursue, but these same niches provide excellent opportunities for a small businessperson. 4. Be the Best You Can Be Martin Luther King, Jr., put it eloquently when he said, "If a man is called a street cleaner, he should sweep the streets even as Michelangelo painted or Beethoven composed music or Shakespeare wrote poetry. He should sweep streets so well that all the hosts in heaven and earth will pause to say, 'Here lives a great street sweeper who did his job well.'" 5. Make a Difference If you chase the money, you'll never get it; but if you chase after your dream to serve others, the money will follow you. Find something to do with a purpose that goes beyond just earning a living, beyond just supporting yourself. This is what will drive you to do your very best. 6. Keep It Simple Stick to the basics. If you do, everything else will fall into place. With everything that goes on around us, it's easy to get sidetracked by distractions. The secret is to do what you do best and stick to it. Don't make things more complicated than they are. It sounds easy, but evidently it's not as easy as is sounds, because people all over tend to complicate what is otherwise uncomplicated. 7. Watch Your Overhead With a bankroll of only $3,000, I didn't have any choice - I had to watch my overhead. It taught me discipline, which I have been mindful of throughout my business career. Of course, even with a small bankroll, with credit, the temptation to overspend is always present. Simply put, don't do it! Establish a budget and stick to it. 8. Go With Your Instincts If I have to work too hard to sell myself on an idea, it's probably not a good idea. Unless Jay strongly objected and convinced me of a flaw in my judgment, I stuck with my intuition. Jay respected my intuition even when it didn't make good business sense to him. Was my intuition always right? Of course not! No entrepreneur is ever 100 percent right. If you're always right, then you're not taking enough risks. 9. Value Your Time and Be a Good Time Manager Studies estimate that the average person watches three to four hours of television a day. It's amazing what you can accomplish by putting those hours to valuable use. Most people waste more time than they spend working. Once you realize what a precious commodity time is, it's amazing how much you can get done. 10. Brush Up on Your Computer Skills I realize that I must develop better computer skills, which are necessary even away from the business - in my personal life. So for anyone starting a business today, your computer skills are essential. This same advice applies to anyone who is returning to the workplace. We live in a computer-driven business world, and computer skills will play an even bigger role in the future. 11. It's Only a Business When I got wrapped up in the business, it was hard to take a breather and unwind. Fortunately that's what I eventually learned to do. Thinking that it was only a business put things in perspective. My family was my number one priority. They are the reason why I started the business. Sure, on rare occasions I became so focused on a pressing problem that I momentarily put the business before my family. But it happens rarely, and whenever I catch myself falling into that trap, I say to myself, "Doris, it's only a business!" Then I feel at peace with myself again. Doris Christopher The Pampered Chef: The Story of One of America's Most Beloved Companies. 2005. Random House, Inc. p41-48. |
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| Jack M. Kaplan and Anthony C. Warren |
Tip of the Week
All bankers want to hear how the loan they will provide will
improve the
worth of the company. To improve the chance of coming away with
the loan, the entrepreneur should tailor the presentation to address
this
question. A loan proposal consists of eight parts. Using the
information from the business plan, the entrepreneur should shift the
emphasis toward the new audience to convert it into a loan proposal.
Here are some guidelines to assist the entrepreneur in preparing a loan
proposal:
1. Summary. On the first page, the entrepreneur should give his or her name and title, company name and address, nature of business, amount sought, purpose, and source of repayment. 2. Management Team Profiles. A biography should be prepared on the entrepreneur and the management team, with emphasis on business background, education, experience skills, areas of expertise, and accomplishments. Bankers seek their ultimate security in experienced management.3. Business Description. Details on the legal structure, number of employees, union status, and current business assets should be provided. The products and markets as well as customers and competitors should also be defined, along with inventory in terms of size, rate of turnover, and market ability. The status of your accounts receivable and accounts payable should also be reported. 4. Projections. The entrepreneur should show projections on the current share of the market and describe how he or she plans to exploit these opportunities for the next three years. The alternative and fallback plans, as well as a realistic timetable for achieving the goals, also need to be listed. Bankers judge plans and goals in terms of the industry's practices and trends. 5. Financial Statements. The entrepreneur should prepare a balance sheet and income statement for the past three years (if available). Bankers are more comfortable with audited statements. If the entrepreneur cannot afford a full audit, he or she should ask the accountant for a financial "review." Though less convincing than an audit, this new intermediate procedure gives the banker more assurance than an unaudited statement. Two sets of projected balance sheets as well as income and cash flow statements should also be prepared, one predicated on receiving the loan and the other on proceeding without it. Though critical to proving the entrepreneur's claim that the loan will increase company worth, the projections must be realistic. Bankers match projections against published industry standards, searching for padded earnings and meager cost estimates. Personal financial statements, including tax returns for the past three years, must also be submitted, since the entrepreneur's own net worth is a factor. Bankers check the entrepreneur's personal credit rating in addition to the company. 6. Purpose. The purpose of the loan should be stated. A request for "working capital" will elicit questions, not money. Instead, explain specifically what the intended use of the working capital is-for example, to build up Christmas inventory by increasing productions, starting in late summer. 7. Amount. The entrepreneur should ask for the premise amount needed to achieve his or her purpose and support the figures with estimates or previous cost figures. Bankers know costs, so the entrepreneur should not ask for a high amount, expecting his or her request to be negotiated. The banker will verify all requested amounts. 8. Repayment Plans. The asset must match the loan. Any asset the entrepreneur wants to finance must last at least as long as the loan period. Also, the asset should generate the repayment funds by increasing sales, slashing costs, or heightening efficiency. Weaving these into a repayment schedule is a complex task, but the entrepreneur will not be required to do it all alone. Lending officers anticipate calls for advice on this and all other elements of loan proposals. They look to the entrepreneur to be an expert only on the business; however, he or she will be expected to come in with all the requisite financial data. Jack M. Kaplan and Anthony C. Warren. Patterns of Entrepreneurship Second Edition. United States of America: John Wiley & Sons, Inc., 2007. 141-142. |
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| Katz, Jerome A., and Richard P. Green |
Tip of the Week
The most common source of capital for established ongoing small
businesses is borrowed funds. This is the case for several reasons,
including all the reasons discussed above, and the simple fact that
small businesses do not have easy access to equity financing
through organized stock exchanges. Additionally, national, state, and
local governments all encourage small business borrowing. This is
done in three ways: (1) direct loans of cash, (2) guaranteeing loans
made by commercial banks, and (3) reducing taxes by allowing
interest to be deducted. However, when it comes to borrowing
significant amounts of money, all firms are not created equal.
Established businesses that have valuable assets that are separable
from the owners are able to borrow more easily than are start-up or
knowledge businesses.
So, where can a business actually get loans to start and grow? As you might expect, your best source is the bank where you are currently doing business. After all, it is in the business of making loans. You are the customer. As such, you are a known commodity-you pay your bills, you keep your account balance positive, you don't bounce checks. Start where you're known. But if your bank turns you down, you are not out of luck. In fact, in the Small Business Administration guaranteed loan programs, you must be turned down by a bank before you qualify. So, maybe your bank did you a favor. Having been turned down, you can apply for an SBA guaranteed loan. Through this avenue, you will still borrow from your own bank, but the SBA will guarantee the bank that if your business fails, the SBA will pay off your loan. Other sources for SBA guaranteed loans include community development organizations, and for small loans, microlenders.A third source of SBA guaranteed loans is the numerous small business investment companies (SBIC). A directory of SBICs is maintained on the SBA Web site: http://www.sba.gov/INV/index.html. You can access the listing by clicking on the appropriate state on the map presented at the site. The directory provides not only a list of active SBICs, but also an outline of the business requirements. You may also have access to incubators or accelerators in your area. These organizations exist solely for the purpose of facilitating the start up and growth of new businesses. They provide advice for finding loans, and, in some cases, have the ability to make loans to member businesses. The main things that lenders want to see before they give businesses their money are the Four Cs of Borrowing, listed here: 1. Character of the managers of the business. 2. Capacity of the business to repay both the principal and interest on time. 3. Conditions of the industry and economy in which the business operates. 4. Collateral that can be used to secure the loan. Katz, Jerome A., and Richard P. Green. Entrepreneurial Small Business. New York: McGraw-Hill/Irwin, 2007. 445. |
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