• Entrepreneurs Awarded Financial Boost From The NASE
• NASE Meets New SBA Head
• SBA Offers Podcasts

Entrepreneurs Awarded Financial Boost From The NASE

Finding access to capital is without a doubt one of the biggest hurdles facing small businesses today, but for three micro-business owners, that hurdle is a little lower thanks to the NASE. The three business owners – a retailer, an artist, and a children’s physical therapist – each received a $5,000 grant from the NASE as part of a commitment from the association to provide up to $200,000 in awards to members to grow their businesses this year. Launched in May, the NASE Business Development Grant program offers access to capital for micro-business owners who have a specific business need – but lack the finances to carry out that goal. The program was designed after an online NASE Member poll found that a majority of micro-business owners (57 percent) initially fund their businesses using personal savings, and many (40 percent) continue to use personal savings for ongoing financing. “The stress of cash flow is always on a micro-business owner’s mind,” said Robert Hughes, president of the NASE. “When a small business is only generating a couple of thousand of dollars a year in profits, it is hard for them to come up with the cash to make improvements and grow. Often they only need a small amount. But that money either has to come from personal savings, or they have to take a loan out at the bank for much more than they need.” With the NASE Business Development Grant Program, NASE Members apply for up to $5,000 for a specific business need such as the purchase of new equipment or software, or the funding of advertising, marketing materials and training. Jeanne Schaffer of Janesville, Wis., Carl Booker of San Antonio, Texas, and Leo Huppert of Gilbert, Ariz., are the first three recipients of grants from the NASE. Schaffer’s educational supply retail business will utilize the money to expand her Web site, www.buildingblocksforlearning.com, with an online store and cart feature. Booker will expand his presentation company, Avista Products, to offer voice over and music production capabilities in addition to his graphic designs and custom animation. Huppert will use the money to form a cooperative between Huppert Pediatric Therapy, Inc., and several other small therapy firms to comply with state requirements for health care providers to infants. NASE Members interested in applying for a grant still have time. Applications can be found at www.NASE.org. The deadline is November 30, 2006, and applications are considered on a rolling basis. For more information, call NASE Member Services at 800-232-6273. NASE Meets New SBA Head Steven C. Preston took the top spot at the U.S. Small Business Administration this summer, replacing Hector Barreto as Administrator. Prior to his appointment, Preston was Executive Vice President of The ServiceMaster Company, a franchising organization with thousands of small businesses in its network. NASE President Robert Hughes met with Preston last month, to introduce him to the organization and its advocacy efforts. Much of the conversation dealt with the tax gap – the difference between what the IRS is owed in tax revenue, and what it actually receives. Several of the current policy approaches to closing the tax gap include withholding requirements and increased enforcement activities. Hughes told Preston that the NASE feels these proposals will do more to hurt micro-business than they will to reach the long-term goal of tax compliance. Hughes and Preston also spoke about the NASE’s support for several small-business programs run by the SBA, such as Small Business Development Centers and SCORE. Learn more about Administrator Preston and these small-business programs at www.sba.gov. SBA Offers Podcasts The U.S. Small Business Administration announced a new method to make advice available to small-business owners: the podcast. Podcasts are short audio recordings broadcast over the Internet that can be downloaded onto an MP3 player or listened to on a computer. The podcasts will address entrepreneurial issues like disaster preparedness, how to finance a small business, and selecting the type of business that fits. Future podcasts include topics such as how to write a business plan, the importance of marketing, legal forms of business ownership, finding the right employees, and a checklist for starting a business. The SBA decided that podcasting was an easy way to make this information available to busy small business owners, who can now listen to it while traveling or doing other work. The podcasts are all less than ten minutes in length and include interviews with experts, information, and suggestions to help improve a business. These podcasts are available from www.sba.gov/podcast and the SBA encourages listeners to visit the online Small Business Training Network of free training courses, workshops and resources at www.sba.gov/training for more in-depth information.