Helping with business succession……
July 28, 2009 by admin · Leave a Comment
As a general definition, succession planning is the process of preparing to hand over control. Specifically, business succession planning is the process of preparing to hand over control of the business to others in a way that is the least disruptive to the business’s operations and value.
Phillips County Economic Development is interested in helping business owners with this process. A service we provide is listing your business on our succession page. This page is located under the business opportunites tab on our website. Also, staff are available to help in order to make the transition to new owners a pleasant experience for all involved.
For more information on Business succession planning, contact our office at 785-543-5809 or email Jeff at pced@ruraltel.net
In challenging times…Beware Free Money calls.
July 27, 2009 by admin · Leave a Comment
In these challenging economic times, businesses and residents alike are having a tough time making ends meet. It is during these times, we have to be careful about spending friviously in the HOPES to get money back. This is specifically written to make honest, hardworking citizens and business owners aware of the many SCAM’s and miss information out there today on “Grants” or “free money from the government”. I was always brought up in a culture that nothing is “free”, you must work for it or it will have a gotcha of some kind. Most recently, there has been a larger amount of calls from soliciters that sell their professional talents as grantwriters. Yes, of course there are legitimate grant writers in the business realm. As I have been in that realm for more than 10 years, I can tell you there are very few that do a GREAT job, and those that do are so busy that they don’t need to be soliciting. This should be your first “red flag”; the phone soliciation.
Many of these “so called” grantwriters will promise you a huge grant, if you only put down a huge amount of money. They say there is a lot of “free money” out there. This should be a second “red flag”; the statement “free money”. All financial assistance of any kind, has requirements on it. Many times it is that the money must be given out to an individual or business as a “loan” through a non-profit or governmental agency. If it has to be paid back, it is NOT free. Most of these types of grants (loans) come from the government. There is another source of “grants”. These funds come from private and community foundations; but, it is illegal for them to give grants “free money” to businesses (for-profits). They can only give to other charitable programs and organizations, which excludes any of that money getting to (for-profit) businesses or individuals (directly).
There are some programs out there in business development circles, such as the Phillips County Economic Development, which offer special programs which provide assistance toward business development and expansion; but they have their own guidelines and regulations. Every area is a little different in these programs, but usually these programs are offered through a non-profit or county/city government.
I am sharing this information, so that in these times of need our local businesses that need the most help will know where to find it or ask for help. Common Sense as my grandfather said to me, “if it sounds too good to be true, it probably is”. Watch out for phone calls from professional grantwriters willing to find you thousands of dollars for a nominal fee. Ask them questions, get information on their company, and what they do. If you must (and feel compelled), do a better business bureau search for them. You will probably be very supprised at what you find. Keep a level head and don’t let anyone get away with taking your money; especially in these difficult times.
Upcoming Seminar in Hays
July 27, 2009 by admin · Leave a Comment
Human Resources
Keeping you Legal
If you are a small business owner, this is a great opportunity to update your employment knowledge. On October 8, 2009, Keeping You Legal will feature two sessions, at Sternberg Museum of Natural History in Hays. Speakers include: Larry Michel from Kennedy, Berkley, Yarnevich & Williamson Chartered and Carol S. Cast and A.J. Kotich from Kansas Dept. of Labor. The morning session includes FMLA Update and Employer Handbook with registration beginning at 7:45 a.m. The afternoon session includes Workers Compensation and Unemployment Law with registration beginning at 12:45 p.m.. Registration fees are $35 for one session for Western Kansas Human Resource Management Association (WKHRMA) members or $60 for both sessions. Registration fees for non members are $45 for one session or $75 for both sessions. Registration fees will cover handouts and snacks.
For more information, contact Wanda Kuhn at 785-625-1423.
Link to Your Phillips County Business Website…
July 20, 2009 by admin · Leave a Comment
Phillips County Economic Development is in the process of listing all Phillips County Businesses on our site. Please check your town and if your business is NOT listed, call our office at 785-543-5809 or contact by email, so we can include you on the business listing. Also, for those of you with websites, we would like to link to your site. Again, contact our office if your website is not listed. Thank you for your help in updating our Phillips County Business listings.
Independence!
Speaking as a current business owner and an economic development director, owning and running your own business is still one of the most independent activities an American can do in this country. On the eve of July 4, 2009, it should be remembered that most of the founders of our country were business owners. In every circumstance I have known, business owners are very independent and passionate about their actions to succeed. That is not to say that entrepreneurs can’t stumble and fall, from time to time; but, they most certainly never give up. In times of trials and failure, it is usually the entrepreneur (business owner) that will make the extra effort toward attaining their goal through using another tactic. If the business fails, they learn from their mistake and grow another business by becoming stronger the learning experience. Think about the number of failures that Edison went through on “one” project, “the light bulb” before success in his business. Think about the number of challenges and heartache Abraham Lincoln went through before he became the President of the United States.
America has always been a country of leaders with an entrepreneurial spirit. With the challenges facing our country right now, it is important for business owners to stand firm. It is important for these current owners to share the experience of freedom they have (although difficult) with their prodogies (the younger generation). Working in a smaller rural community, I have been encouraged by our small town business owner’s leadership for our communities, their passionate leadership to create a better environment for the next generation, and their desire to share and help the next wave of business owners. Most rural communities have lost a vital asset over the last 50 years, many of their youth. These graduating youth have wanted to become free and explore the world outside the rural (small town) environment. Many of our youth, (even myself), throughout our childhood were inspired by business owners (mentors) in our area; though, encouraged by others to get an education and leave to get a better paying job (career), which all seemed to be in larger (urban areas) at that time.
Everyone has to choose their own way and experience different areas, BUT, I feel very strongly that as citizens, educators, business leaders, and parents; we need to share the positives about living and working in small town America, about owning or developing their own business, and about becoming strong servants to our community. Even when I graduated and worked in a larger city for five (5) years, I only then started to grasp the positives that I gave up by working and living in a large town and leaving my Hometown area. One primary reason I came back to live and work in Phillips County was the friendliness of our people; but another was that ability to start a new business at a minimum cost. With that being said, the cost of living was more economical, as I grew the business as well. Yes, I know, many may say — “Well, he just could not make it in the large town atmosphere” or “He just needed to stay longer to experience the true urban setting”. I did have several people say “I had failed, because I had moved back to the area.”. And it may suprise you to know that individuals saying this were not just those I thought I knew in the large town, but those in my HOMETOWN!
Gratefully, there were many more within Phillips County that saw, what I may have not at the time, an entrepreneurial spirit, in myself. To them I say “Thank you!”, and you know who you are! Business owners, residents, teachers and parents, all us have had our own mentors that have inspired us to become leaders for our community. At this time in our country when entrepreneurism and foundational truths are mocked, we all need to realize that our youth is looking for someone to be their mentor. If they know and understand that running a business is challenging, but very gratifying; they will consider pursuing that path. If they are encouraged and supported in their defeats, that is ok to lose a battle, from time to time, but you must always focus on winning the war (long term goal). Encourage someone that may be considering a move back into the area and given them an inspirational boost of support. Especially now, I am sure they probably need it. I will leave with two thoughts. May everyone enjoy their celebration of our independence as a nation on July 4 AND, may all our new citizens moving back to the area have strong mentorship (through you) to become business owners, community supporters and servant leaders.