| AvL Technologies gives $50,000 to business incubator
ENKA - AvL Technologies has donated $50,000 to establish a revolving loan fund at Asheville-Buncombe Technical Community College�s Small Business Center/Incubator to support young companies. �While the development of the incubator program and recruitment of companies has gone well, the program lacked a revolving loan fund to assist its clients,� said Russ Yelton, Small Business Center/Incubator director. �We appreciate the support AvL Technologies is providing start-ups through this generous donation.� AvL Technologies started in the Maple Building at A-B Tech in 1998 and became the College�s first successful small business incubation. The business employees 75 people, and designs and manufactures mobile satellite antenna systems typically used for live satellite broadcasts from television news trucks.
Buying a business can pay off for entrepreneurs
A serial entrepreneur who owned half a dozen companies, Steve Rabenberg knew the demands of starting a business. But when he scouted his next venture, Rabenberg wanted a quicker path to profit.
Instead of opening another company, he bought one: formerly Sunkiss Tan in St. Charles.
Although many small-business owners set up their own companies, some entrepreneurs take over existing ventures, forgoing control of startup decisions, like picking store locations and suppliers, for the comfort of a steady cash flow. Business experts caution potential owners to examine a company's profitability before taking the reins, but they said it could be a safer bet because the business already has customers.
"The day you buy an existing business, you have cash flow," said David Marlo, owner of the Saint Louis Group Business Brokers, a firm in south St.
Small business organizations form partnership
Two nonprofits aimed at helping small and minority-owned businesses succeed have formed an alliance to share services. The Cincinnati Business Incubator and the Greater Cincinnati Microenterprise Initiative said they have formalized their relationship with a memorandum of understanding. Under the agreement, CBI will offer GCMI clients a complimentary six-month affiliate client contract, and GCMI will provide CBI clients with customized business coaching and assistance in obtaining business loans. "When organizations like ours work together there is less duplication and we have more opportunity to market our services to a wider audience," said Wayne Hicks, president of CBI, in a news release. CBI, in Over-the-Rhine, is an incubator offering startup companies affordable office space, business services and other resources.
Apply for grants, SMIs, SMEs urged
SMALL and medium industries and enterprises (SMIs and SMEs) should capitalise fully on the government grants offered to help them expand their businesses. Penang Gerakan SMI Bureau chairman Michael Heah said many SMIs and SMES were still unaware that the Government had introduced the �New Business Start-Up Grant� to help them. Under the grant, Heah said the Government would pay 50% of premises rental up to a maximum of RM40,000 over 24 months. �And the good thing is, one does not have to repay the grant,� he told a press conference recently. Heah added that new businesses registered under the Registrar of Companies (ROC) and the Registrar of Businesses (ROB), except for insurance and finance businesses, could apply for the grants. He said Gerakan SMI has roped in two accountants and a company secretary to assist entrepreneurs to apply for grants. He said the first 100 qualified SMIs or SMEs which registered with the Batu Uban and Bukit Tengah Gerakan service centres from Dec 5 and Dec 6 would get the services for free. �Normally, fees charged by professional accountants are priced between RM1,000 to RM3,000 per proposal,� he said. Those interested can visit Gerakan Batu Uban office (Tel 04-6440788/ 0124337963) every Wednesday from 3.30pm to 5pm and Batu Kawan office (012-4925343) every Thursday from 8.30pm to 10pm.
.
Howard tech firm preps for rollout of server software
A move by businesses to better manage their information technology resources by synchronizing groups of servers to act as one is driving growth for a Howard County software startup led by a former top executive with pioneering tech firm USinternetworking. Fortisphere is gearing up for mass distribution of its software -- part of a growing category called "life cycle management" in IT circles -- after landing $10 million in venture capital. The Glenwood company will use the money to expand development and marketing of its software as it moves toward mass distribution in the first quarter of 2008, Fortisphere CEO Michael Harper said. The company is working on a software package called Virtual Essentials that is being tested by a small group of initial clients, meaning it isn't yet taking in significant revenue, Harper said.
Amex offers short-term credit
Credit card issuers learned long ago that many small-business owners use their personal credit cards to fill gaps in cash flow. So why not come up with cards that are geared specifically for small businesses? Many have, and American Express Co. is among the latest to put out a new small-business card. Amex started taking applications this month for its Plum Card, which offers early payment discounts and an option to defer payments for up to two months with no interest, instead of the usual 30 days. Amex is promoting the pay-in-full card as an alternative to trade terms credit, which is a form of short-term credit negotiated between a small business and its suppliers. The card is "the first of its kind," said Raymond Joabar, a senior vice president at Amex's small-business division in New York City.
|
