Region III Monona County Plymouth County Woodbury County
Region III Monona County Plymouth County Woodbury County Uniting for Entrepreneurship PART 2 This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
Region III By The Numbers l Business Overview Monona County l 1, 104 Establishments | 5, 050 Jobs l l 428 Sole Props/Self Employed (38. 8%) 91. 6% of all firms have fewer than 9 employees Startups decreased -16. 9% from 2010 to 2013 Business Overview Plymouth County l 2, 676 Establishments | 14, 822 Jobs 1, 001 Sole Props/Self Employed (37. 4%) l 91. 1% of all firms have fewer than 9 employees Source: Your. Economy. org l Startups decreased -16. 7% from 2010 to 2013 l This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
Region III By The Numbers l Business Overview Woodbury County l 7, 401 Businesses | 67, 348 Jobs l l l 2, 092 Sole Props/Self Employed (28. 3%) 84. 4% of firms have fewer than 9 employees Startups decreased -16. 0% from 2010 to 2013 IDFI, Sioux City Source: Your. Economy. org This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
Region III By The Numbers Laborshed Studies Source: Iowa Workforce Development This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
Region III By The Numbers Demographics of 2014 Laborshed Survey Respondents Interested in Starting a Business l l 10. 8 percent of females interested in starting a business 17. 6 percent of males interested in starting a business 73. 0 percent currently employed 27. 0 percent have at least a BA & 6. 3 percent have graduate degree • Average of 52. 1 years old / Median age of 55. 0 years old • Respondents age 18 to 64 Age Percent 18 -24 3. 2% 25 -34 6. 3% 35 -44 25. 4% 45 -54 34. 9% 55 -64 30. 2% Total 100. 0% Source: Iowa Workforce Development This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
Region III By The Numbers Obstacles to Starting Business Identified by Laborshed Respondents Interested in Starting a Business l Access to Start Up Funds (65. 1%) l Time Involved (14. 3%) l Finding a Business Location (9. 5%) l Development of a Business Plan (4. 8%) l Expertise in Marketing (4. 8%) l Insurance Issues (4. 8%) l Tax/Regulatory Laws (3. 2%) l Concerns about the Economy (1. 6%) l Risk (1. 6%) Source: Iowa Workforce Development This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
Break Time! This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
What do Entrepreneurs Need? Supportive Culture Networking Opportunities Access to Capital at All Levels Business & Technical Assistance This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
What Do Entrepreneurs Need? Supportive Culture l l Entrepreneurship as something to aspire to Cultural mindset Failure is a learning opportunity, not stigma Physical resources are in place Night out in Downtown Sioux City Plymouth County Museum This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
What Do Entrepreneurs Need? Supportive Culture l Planning and Zoning l l Broadband l l Sign Ordinances Parking Traffic 35 M HHs 2004 65 M HHs 2007 98 M HHs 2010 Entre. Fest! Attendees Importance of Cloud Tech This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
What Do Entrepreneurs Need? Supportive Culture l Broadband Access & Speed Source: Connect Iowa This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
What Do Entrepreneurs Need? Our Supportive Culture Assets l l l l l Cities & Counties Community Leaders Existing Entrepreneurs School System Churches Population Diversity Media Outlets Community Attractions Established Service Provider Network Entrepreneurial Centers of Gravity Springboard Coworking, Sioux City “Ideas People” Series Spotlight folks who “want to move Greene County forward”. “They’re business owners, entrepreneurs or artists — or all three at once. They’re champions of what Greene County was, and what it can be. ” This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
What Do Entrepreneurs Need? Technical Assistance & Training l l 1: 1 Consulting Classroom Training Workshops/Seminars Mentoring Google Get Online Event Smorgasbord at Entre. FEST This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
What Do Entrepreneurs Need? Our Technical Assistance Assets l 1: 1 Consulting l l l Classroom Training l l WIT Community College & High Schools Workshops/Seminars l l l Regional SBDC Office UNI Business Concierge UI Partners Iowa Voc Rehab Self-Employment Program UNI/ISU/UI Briar Cliff University Chambers of Commerce Springboard Coworking Todd Rausch, SBDC Director Mentoring l l ISED Ventures & Women’s Business Center Regional SCORE Offices This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
What Do Entrepreneurs Need? Networking l l Like minded individuals innovate, solve problems, create solutions and accelerate outcomes Peer, professional and social This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
What Do Entrepreneurs Need? Our Networking Assets l l l l Economic Development Agencies Chambers of Commerce Young Professionals Jaycees, Rotary Sioux City Growth Organization Technology Association of Iowa Association of Business & Industry Northwest Iowa Regents Resource Center Kissinger Center, Merrill This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
What Do Entrepreneurs Need? Capital l The right kind of capital at the right stage of the business life cycle Lenders who understand industries Access to capital resources This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
What Do Entrepreneurs Need? Our Capital Assets l Grants & Micro Lending l l Debt Financing l l Forgivable loans City/County incentives Micro loans Small business loan Equity Financing l l Angel Venture Capital This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
Understanding Entrepreneurs l l Venture Company Innovator Small Business Micro-enterprise This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
Micro-enterprise l Demographic Profile § § § l Psychographic Profile § l Mostly Women All Ages All Incomes Driven by Passion Industry Clusters § § Small Retail Service Jean Vaux, Health. Coach This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
Small Business l Demographic Profile § § l Psychographic Profile § § l Women - Men Middle Income Harold Higman, Jr. Mayor for Akron and Entrepreneur Seek a Lifestyle Profit Conscious Industry Clusters § § § Retail/Service Technology Tom Mulholland Light Manufacturing “Tom works really hard to get the products you want so you don’t have to go far away to get the products you need. He supplies things for our community events, graduation parties, and store openings. He’s just a really vital member of our community, ” said local farmer, Karen Seipold. This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
Innovator l Demographic Profile § § l Psychographic Profile § § § l Men > Women Owner is Not Manager Opportunity Analyst Profit Driven Easily Bored Industry Clusters § § Technology Service Retail Franchise Some Manufacturing Banno This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
Venture Company l Demographic Profile § § l Psychographic Profile § § l Mostly Men Management Teams Growth Driven Path Directed by Capital Industry Clusters § § Technology Innovation Within Any Industry i. Seek This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
Special Segments l Emerging Models l l l Social Entrepreneurship Necessity Entrepreneurship Entrepreneur Led Initiatives 1 MC DSM Seed Here Studio This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
What Do Most Entrepreneurs Experience? l l l A Complex Maze of Providers and Services Referral -> Referral Little Customization of Services Quantity vs Quality Need “No Wrong Doors” This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
No one organization is super human… It takes collaboration! This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
Putting It All Together Our Ultimate Objective: To create an entrepreneurship support system “A new economy demands a new approach. we don’t need new programs- We need a new mindset. ” -Erik Pages, Entreworks Consulting This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
Next Steps l Put Together a Shared Plan l l l Planning team selection Address all four areas Address needs and gaps – Your Homework! james. hoelscher@uni. edu l l Key short term/long term goals Timeline Success indicators Responsibility This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
Strategic Planning Sessions l l l Thursday, February 5 12: 30 -4: 30 pm Onawa, IA Friday, March 27 9: 00 am-1: 00 pm Le. Mars, IA Wednesday, April 29 9: 00 am-1: 00 pm Woodbury Co. This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
EDA UNI University Center Region III Entrepreneurship Project Resources l Project Website l l http: //www. bcs. uni. edu/eda Awareness Marketing Material Quarterly E-Newsletter Statewide Partners This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
Time to Take Action l What are two meaningful things you can do to support your area’s entrepreneurs once you leave today? Sioux City Biz Brew Event This project is made possible This by project UNI Business is made possible & by UNI Business & Community Services and theand U. S. the Department U. S. Department of of Commerce Economic Development Administration.
EDA University Center Region III Entrepreneurship Project l Thank You to our Executive Leadership Team l l l Neal Adler, Le Mars Area Chamber of Commerce Renae Billings, City of Sioux City David Gleiser, Office of Rural Economic Development Dwight Lang, Siouxland Interstate Metro Planning Council Teresa Miller, Monona County Economic Development Stephanie Wiese, Western Iowa Power Cooperative Special Thank You to Todd Rausch…… This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
Your Project Team La. Dene Bowen, CEc. D FM La. Dene. Bowen@uni. edu Drew Conrad, , CEc. D Andrew. Conrad@uni. edu James Hoelscher James. Hoelscher@uni. edu http: //www. bcs. uni. edu/eda Rob Williams Rob. Williams@uni. edu This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
Region III Monona County Plymouth County Woodbury County Uniting for Entrepreneurship This project is made possible by UNI Business & Community Services and the U. S. Department of Commerce Economic Development Administration.
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