Karen Mills – SBA Head Lauds SCORE

Here is a short video by Karen Mills, head of the SBA, talking about SCORE.  Remarks at at the SCORE Awards, September, 2009

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Innovate and Thrive: A New Way to Lead Your Business

The U.S. Small Business Administration (SBA) and Dun & Bradstreet (D&B) will present a 30-minute, interactive webinar on how small businesses can succeed through innovation Oct. 14, 2009 at 1:00 p.m. (ET).  This unique opportunity is free and open to all small businesses.

During the webinar, small business owners and business experts will discuss how to innovate in a live interactive session utilizing videos, online polling and a Q&A session.  Several small businesses included in the webinar demonstrate how using innovative ideas have helped them to thrive.  They are:

  • The Thunder Show of Springfield, N.J., See how a young wine retailer is using YouTube and other social networks to reach 20-somethings
  • Bike Arc of Palo Alto, Calif.Learn how a bicycle owner created a new product line by rethinking how and where to park your bike
  • To-Go-Ware of Berkeley, Calif See how one woman’s start-up encourages people to reduce their “forkprint” by buying reusable containers and utensils

SBA Administrator Karen G. Mills is featured in the webinar along with savvy business experts, including Stephen Key, an inventor and founder of inventRight.com, and Steve King, founder of Emergent Research and author of a major study on small business.  Discussion will focus on:

  • How to recognize innovation when it occurs in your business;
  • The habits of highly successful business owners;
  • New tools to help you stimulate innovation; and
  • How to improve your competitive position in the coming decade.

“Small businesses are the key driver of our nation’s economy and innovation that will create jobs and strengthen our competitiveness in the global market,” Mills said.  “This type of best practice sharing and discussion is another part of SBA’s commitment to making sure small businesses have the tools they need to succeed.”

Small businesses can register for the webinar by going to D&B’s Small Business Portal at

https://dnb.webex.com/dnb/onstage/g.php?t=a&d=713748772.

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Update on Stimulus Plan (ARRA)

Program that will provide an update on the Stimulus Plan on September 15 from 3:30 to 5:30 in the afternoon.

The Obama Stimulus plan has been part of the public record since February of this year. The plan has created expectations among small business. Receive an overview of the plan as passed in February;. Get updated from the SBA on current activity; hear from an executive in the construction business on how his company is taking advantage of the plan. Learn how you can work with a construction management company to participate in this opportunity.

Receive an update from Alfred Belluomini of the SBA and get insights from Kevin Ferguson of Kwame Building Group, A Construction Management Company.  Kwame is a company focused on providing services to state, local and municipal entitities

Click here for Registration information.

Below is a video excerpt from an interview done in February with Alfred Belluomini of the SBA.


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Buying a Business – Think about Seller Financing

This is an excerptfrom a Blog Posting By Domenic Rinaldi.  Domenic will be presenting “Buying a Businesss” Workshop at score on July 30th.   Information about the workshop is at http://bit.ly/BuyBusiness

…… The good news is that business acquisitions are possible without the government and banks. In fact, there was a time when banks played a minor role, if any, in small business acquisition lending. So, we now see the market retraining itself on the practice of SELLER FINANCING. In essence, the seller fulfills the role the banks have played, and in the process, gains back control of their goals. For obvious reasons, this form of financing is met with trepidation by sellers. However, with the proper guidance from seasoned advisors, these types of transactions can be more lucrative and provide better security for both sellers and buyers.

One recent transaction will serve to illustrate the need for sellers to embrace the idea of seller financing. We confidentially represented a business services firm in the Chicago area that had a 17-year track record, a stable client base and growing revenues. Our firm attracted multiple buyers and secured an offer from a private investor with solid financials. The deal structure was as follows:

50% – Buyer Down Payment
25% – Seller Note
25% – Bank Note

This business had physical (hard) assets on the balance sheet that exceeded the amount being requested in bank financing. The sellers had a long-standing banking relationship and offered to introduce the buyer to their banker, who was very bullish on this deal. The bank loan was difficult to get…..

The buyers and sellers were undeterred and we renegotiated the deal with the buyers. We increased their down payment and thus had the sellers fill the void left by the bank.

This type of financing requires tons of creative thinking, experienced advisors and motivated buyers and sellers.

Biz Broker Journal is at: http://www.bizbrokerjournal.com
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