the!bright!side!episode!17:!small!business!brightside.cedamichigan.org/files/transcript-ep-17.pdfravi!yalamanchi!!everyloanwehavedone,that’swhatit...

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The Bright Side Episode 17: Small Business Produced by CEDAM Underwritten by MIplace.org Marsha Lyttle We help everything from what would be a sole proprietor – one individual who is maybe home based and doing something very simply – to up to 500 employees. Patricia Rayl Well we have created something we call our business resource guide. We want to welcome people to town and we want to welcome new businesses. Ravi Yalamanchi Every loan we have done, that’s what it has done to the businesses. We not only turned them around in sustaining, but they’re actually adding jobs. Angela Barbash Kickstarter is donationbased crowdfunding. This is investment based crowdfunding. This is the entrepreneur saying, “If you give me $100, I’m going to promise to give you back $100 plus to the best of my ability.” Marcy Bishop Kates This is actually one of our graduates. So they were with us for about six months and now they have a brick and mortar production facility in Troy. We have licensed over 70 small businesses.

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The  Bright  Side  Episode  17:  Small  Business    

Produced  by  CEDAM  

 Underwritten  by  MIplace.org  

 Marsha  Lyttle  We  help  everything  from  what  would  be  a  sole  proprietor  –  one  individual  who  is  maybe  home  based  and  doing  something  very  simply  –  to  up  to  500  employees.    Patricia  Rayl    Well  we  have  created  something  we  call  our  business  resource  guide.  We  want  to  welcome  people  to  town  and  we  want  to  welcome  new  businesses.    Ravi  Yalamanchi    Every  loan  we  have  done,  that’s  what  it  has  done  to  the  businesses.  We  not  only  turned  them  around  in  sustaining,  but  they’re  actually  adding  jobs.    Angela  Barbash    Kickstarter  is  donation-­‐based  crowdfunding.  This  is  investment-­‐based  crowdfunding.  This  is  the  entrepreneur  saying,  “If  you  give  me  $100,  I’m  going  to  promise  to  give  you  back  $100  plus  to  the  best  of  my  ability.”    Marcy  Bishop  Kates    This  is  actually  one  of  our  graduates.  So  they  were  with  us  for  about  six  months  and  now  they  have  a  brick  and  mortar  production  facility  in  Troy.  We  have  licensed  over  70  small  businesses.  

 

-­‐-­‐-­‐Small  Business-­‐-­‐-­‐      

Starting  a  Business  I-­‐69  Trade  Corridor  Region  SBDC  

 Marsha  Lyttle    People  get  really  focused  on  their  product  or  their  service.  They’re  excited.  They’re  passionate  about  it.  It’s  something  they  love  to  do,  something  they  want  to  do,  something  they  know  how  to  do.  Friends  have  told  them,  “You  make  great  pies.  You  ought  to  be  selling  those  great  pies.”    But  the  product  or  service  isn’t  the  business.  That’s  just  what  comes  out  of  the  business,  and  you  have  to  have  the  frameworks  of  a  business  to  be  successful  in  producing  and  delivering  that  product  or  service.  There’s  much  more  to  what  a  business  really  is  and  we  try  to  help  them  understand  what  those  foundational  things  are.    And  we  teach  how  to  write  a  business  plan.  We  teach  how  to  write  marketing  plans.  We  work…  we  have  classes  on  financial  and  legal  aspects.  So  we  can  take  people  through  those  aspects  of  creating  that  business  foundation  in  chunks.    We  provide  absolutely  no  cost  one-­‐on-­‐one  consulting.  We  have  a  team  of  consultants  across  the  state,  all  of  which  have  specific  experience  and  knowledge  in  business  management  and  operation.  Most  of  which  have  also  been  business  owners,  so  they  come  out  of  that  experience  themselves.    We’re  one  of  just  ten  states  that  has  special  certification  to  provide  technology  commercialization  assistance.  We’re  not  talking  about  simple  technology  like  a  business  that  is  a  computer  repair  service.  We’re  talking  about  technologies  where  there  are  some  very  advanced  processes  or  products  or  innovations.  Things  that  might  require  some  additional  research  and  development,  which  often  has  an  expensive  price  tag  associated  with  it.  And  so  there’s  extra  special  work  that  needs  to  be  done  to  help  bring  something  like  that  to  the  marketplace,  and  we  have  counselors  that  have  that  special  expertise.    Anybody  that  wants  to  start  a  business,  we  recommend  –  and  we  really  press  people  to  do  this  –  to  attend  the  Starting  a  Business  class  first.  (Register  for  this  class  at  SBDCmichigan.org)  But  we  get  into  how  do  you  do  market  research.  What  information  do    you  need  to  have  to  make  a  decision  about  whether  or  not  your  idea  really  is  a  good  one,  because  everybody  thinks  it’s  a  good  idea.  Everybody  thinks  nobody  else  has  had  that  idea,  which  is  usually  not  the  case.    So  it’s  market  research,  it’s  resources,  and  then  it’s  the  planning  aspect.  Doing  it  from  the  seat  of  the  pants  doesn’t  work  anymore.  There’s  too  much  competition.  

There’s  too  much  noise  in  this  world  that  you  have  to  break  through  in  order  to  be  able  to  sell  your  product  and  service.    The  other  thing  they  need  to  know  about  is  what  financial  resources  do  they  have  available  to  them  that  they  can  use,  and  what  would  they  be  eligible  for  or  could  they  qualify  for?  The  point  of  all  that  is  it’s  not  about  the  money.  Anybody  can  start  a  business.  I  have  examples  of  companies  that  started  with  nothing  and  it  took  time,  but  ten  years  later  they  created  enough  cash  and  enough  success  over  that  time  period  that  they  were  able  to  invest  their  own  cash  in  more  equipment  and  facilities  without  having  to  go  to  the  bank  for  a  loan.    So  the  point  I  try  to  drive  home  is:  just  figure  out  what  resources  you  have,  and  if  you  really  care  about  this  business,  if  you  want  it  to  happen,  you  will  make  it  happen  with  whatever  resources  you  have  on  hand.    

-­‐-­‐-­‐  SBDC  Michigan  

SBDCmichigan.org    

Video  recording  of  Starting  a  Business  class      

Incu-­‐Bake    

Marcy  Bishop  Kates    Every  type  of  business  incubator  is  very  different.  So  there  are  traditional  office  administrative  type  incubators.  There  are  tech  incubators.  There  are  laboratory  incubators.  We  even  have  a  fashion  incubator  getting  ready  to  start  in  Lansing.    We  are  a  food  business  incubator,  and  so  we  help  people  with  an  idea  for  a  food  product  come  in,  get  connected  to  lab  results,  get  connected  to  packaging,  ingredients,  whatever  it  is  they  need.  We  help  them  get  launched.  We  help  them  get  licensed.  That’s  a  huge  stumbling  block  for  a  lot  of  people.  It’s  not  hard,  but  it  can  be  confusing.  And  then  we  have  a  kitchen  where  they  can  actually  produce  their  food.    Anne  Rauscher    Well,  I’m  getting  ready  to  produce  the  first  of  that  award-­‐winning  rhubarb  syrup  here  today.  The  first  of  the  2014  batches.  So  I’ve  got  some  rhubarb  that  was  just  harvested  this  morning,  actually.    Marcy    She  does  wonderful  fruit  syrups,  all  farm  to  jar.  She  grows  all  of  her  own  produce.    Anne    Well,  we’ve  had  the  farm  operational  for  about  seven  years  now,  and  around  a  year  and  a  half  ago  or  so  I  decided  I  wanted  to  expand  on  what  we  were  doing  and  was  interested  in  adding  some  value-­‐added  products.  I  knew  about  Incu-­‐BaKe  and  I  

needed  a  commercial  space  to  produce  my  products  in.  I  wanted  the  opportunity  to  sell  to  stores  and  restaurants  and  so  forth.    Marcy    In  three  years,  I  can’t  believe  it,  but  we  have  licensed  over  70  small  businesses.  Just  this  week  we  licensed  two  new  small  businesses  from  the  Lansing  area.  One  makes  hickory  syrup  from  the  shag  bark  hickory  tree.  Brand  new  product.  There’s  only  one  other  producer  in  the  nation  that  makes  it.  So  we’re  really  excited  about  him.  And  then  we  also  licensed  a  new  dried  herbs  team,  which  is  going  to  be  really  fun  to  have  them  around.    We  always  joke  that  we  have  everything  from  granola  to  golumpkis.  So  that’s  all  golumpki.  Golumpki  are  Polish  cabbage  rolls.  And  we  have  a  very  successful  little  company  called  Golumbki  Gal.  They’re  out  of  Jackson,  and  they  have  sold  I  don’t  even  know  how  many  golumpkis.  It’s  crazy.    With  somebody  like  Mitten  Munch,  who  was  really  our  first  graduate,  they  knew  because  there  was  no  way  that  they  could  be  in  our  kitchen  enough  to  satisfy  their  demands.  They  had  orders  and  they  just  couldn’t  fill  them.  They  were  spending  two  or  three  nights  a  week,  12  hours  at  a  time,  and  they  just  couldn’t  keep  up  with  their  demand.  So  they  found  a  building,  they  got  set  up,  and  they  are  on  their  way.    So  we  do  have  a  client  here  that  now  has  a  bakery  down  in  Mason.  We  had  another  caterer  out  of  Jackson,  and  she’s  working  on  opening  a  gastro  pub.  So  we’ve  had  quite  a  few  different  people  who  are  moving  on.    And  sometimes  it’s  just  that  they  decide,  “Oh,  this  isn’t  for  me.”  And  they  haven’t  made  a  $50,000  investment  in  something  and  then  decided  it  isn’t  the  right  decision  for  them.  So  to  me  that’s  just  as  much  of  a  success  as  somebody  who  actually  moves  on  to  a  brick  and  mortar.    But  really  the  thing  that’s  the  same  for  all  incubators  is  it’s  helping  people  start  a  business  within  a  community.  And  that’s  what  we  love  about  Incu-­‐BaKe.    

-­‐-­‐-­‐  Incu-­‐Bake  

incu-­‐bake.com      

Local  Investing  and  Crowdfunding  with  the  MILE  Act  

 Angela  Barbash    I  have  been  a  financial  advisor  for…  got  into  the  industry  in  2001,  2002,  and  made  it  through  the  crash  in  2008.  And  I  actually  had  clients  starting  to  ask  new  questions  that  they  had  never  asked  before  coming  out  of  that  like,  “How  do  I  get  my  money  off  of  Wall  Street?”  

 Our  mission  is  to  nurture  the  growth  of  the  social  impact  economy,  and  it  is  comprised  of  companies  that  are  doing  well  and  doing  good  at  the  same  time.  So  we  nurture  that  growth  by  providing  research,  education,  and  advocacy.    So  in  the  past,  starting  in  the  1930’s  all  the  way  up  until  about  2012  this  started  to  change.  If  I  was  an  entrepreneur  and  you  were  a  potential  investor  in  the  community,  I  had  to  know  that  you  were  what’s  called  accredited,  meaning  you  had  over  $1,000,000  in  net  worth,  or  you  made  more  than  $200,000  a  year  in  annual  income,  or  $300,000  in  joint  annual  income.  So  I  had  to  either  know  you  were  accredited,  or  if  I  knew  you  were  not  accredited,  or  it  was  questionable  whether  you  were  accredited,  I  had  to  know  you  personally.  And  that  was  the  only  way  I  could  approach  you  to  ask  if  you’d  like  to  invest  in  my  business.  And  I  could  absolutely  not  take  an  ad  out  in  the  newspaper  and  say,  “I’m  raising  capital!  Anybody  come  to  the  table  that’s  interested.”    So  that  meant  that  the  way  that  our  local  capital  markets  developed,  then,  was  that  people  who  were  high  net  worth  had  access  to  quality  companies  who  were  coming  up  and  good  investment  opportunities,  and  on  the  flip  side,  those  entrepreneurs  who  had  connections  through  their  family  and  their  friends  had  access  to  those  accredited  investors  and  could  more  easily  get  the  investment  that  they  were  looking  for.    Well,  considering  that  only  7%  of  Americans  are  accredited,  it  turned  into  this  two-­‐tiered  system  of  haves  and  have-­‐nots.  Where  if  you  grew  up  in  a  socioeconomic  bracket  that  didn’t  have  those  kind  of  connections,  you  were  locked  out  of  the  system.    So  we  ended  up  with  this  economy  in  Michigan  that  is  very  focused  on  those  high  growth  businesses.  And  we  understand  and  appreciate  why  the  state  and  all  of  our  institutions  have  gone  after  that  sector,  but  those  businesses  and  those  investors  make  up  less  than  10%  of  our  businesses.  The  other  90%  of  businesses  were  sort  of  left  out  of  this  whole  system.    That’s  when  individual  states  started  to  say,  “How  can  we  reduce  the  barriers  to  entry  for  both  investors  and  entrepreneurs?”  And  that’s  happening  in  Michigan  now  with  the  MILE  (Michigan  Invests  Locally  Exemption)  Act.  (The  “Crowdfunding”  Law)    If  you  are  going  to  use  MILE,  you  file  a  one  page  notice  filing  with  Lansing,  with  the  Licensing  and  Regulatory  Affairs  division.  You  pay  $100  fee.  You  submit  your  business  plan  and  your  financial  projections  and  the  terms  of  your  deal.  So  is  it  debt,  is  it  equity,  what  is  it?  So  you  have  full  disclosure.  You  have  to  put  everything  on  the  public  record.  These  are  all  the  documents  that  you’re  going  to  show  to  potential  investors.    

And  then  you  need  to  meet  what’s  called  the  three  pronged  80%  rule.  You  have  to  be  Michigan  based.  You  have  to  have  80%  or  more  of  your  assets,  your  business  assets,  in  the  state  of  Michigan.  You  have  to  have  80%  or  more  of  your  revenues  being  generated  in  the  state  of  Michigan.  So  Michigan  sales  tax  is  being  triggered.  And  you  have  to  use  80%  of  the  capital  that  you  raise  in  the  state  of  Michigan.  (Not  legal  advise.  Talk  to  an  attorney  to  see  if  you  qualify.)    You  file  your  notice  filing,  you  pay  your  $100  fee,  you  submit  your  documents,  and  then  you  go  raise  your  capital.  You  can  raise  your  capital  offline,  low  tech,  through  conversations,  presentations  in  the  community,  or  you  can  do  it  online  through  one  of  the  platforms  that  are  available.    You  have  a  12  month  window  to  raise  the  capital,  and  if  you  do  not  have  audited  financials  –  which  most  small  businesses  don’t  –  you  are  capped  at  $1,000,000  per  year  that  you  can  raise.  And  if  you  have  audited  financials,  you  can  raise  up  to  $2,000,000.  And  that’s  per  year.  So  you  could  keep  doing  capital  raises  as  you  grow.    So  that’s  the  gist  of  MILE.    

-­‐-­‐-­‐  Reconsider  

TimeToReconsider.com      

Micro  and  Business  Loans  Metro  Community  Development  

 Ravi  Yalamanchi    Our  idea  or  goal  is  to  create  a  mechanism  where  capital  can  be  accessed.  Where  normal  lenders  are  not  lending,  that’s  where  we  step  in.    David  King    We  were  trying  to  get  a  loan  for  several…  I  want  to  say,  year  and  a  half.  And  both  my  business  partner  and  I,  we  fell  through  in  ’08  ’09,  and  it  affected  our  credit.  And  we  had  a  hard  time.  Then  we  got  with  Tracy  and  we  got  a  great  loan  at  a  great  rate.    What’s  nice  about  getting  that  loan,  it  looks  to  other  financial  institutions  now,  alright,  someone  took  a  chance  on  you,  alright,  maybe  we’ll  take  a  chance  on  you  now.  And  that’s  happened.  We’ve  actually  had  one  of  our  banks  give  us  a  line  of  credit.    Ravi    Nine  times  out  of  ten,  we  get  businesses  that  are  about  to  be  going  into  bankruptcy  or  foreclosure  or  struggling.  And  those  are  the  businesses  we  are  looking  at  and  trying  to  see  how  we  can  restructure  them.    

Michael  Hawley    We  were  having  problems.  Getting  behind  on  things.  And  although  we’re  an  icon  in  the  community  –  we’ve  been  here  since  1967.  I’ve  personally  been  here  since  1974.  And  things  were  going  good  until  about  2003/4.  Things  started  slipping.  As  prices  went  up,  you  couldn’t  really  raise  your  prices.    Banks,  our  credit  union,  other  credit  unions,  they  all  at  first,  “Well,  let’s  take  a  look!”  They’d  all  get  back  to  you  and  shake  their  heads.    We  would’ve  been  gone  if  not  for  Metro.  We  would’ve  been  gone  last  year.    We’ve  actually  started  hiring  as  things  seem  to  be  picking  up  just  that  little  bit  here  lately.    Ravi    And  pretty  much  I  can  say  in  confidence  that  every  loan  we  have  done,  we  not  only  turned  them  around  in  not  only  sustaining,  but  they’re  actually  adding  jobs.    David    We  started  with  just  Tom  and  I,  and  now  we’ve  got  ten  employees.    Michael    We  just  hired  three  in  the  last  couple  weeks.    Ravi    All  of  them  were  not  credit  worthy  from  the  eyes  of  the  bank.  And  the  banks  had  a  good  reason.  But  us  taking  the  risk  and  investing  in  them  and  working  with  them  proved  that  our  model  is  working.    David    This  is  a  project  right  now  we’re  doing  for  Chrysler.  It’s  a  transmission  rollover.  As  you  can  see,  we’ve  got  it  on  a  G4,  it’s  a  balance  system.  It’s  operator  assisted.  So  what  happens  is  instead  of  the  operator  lifting  the  weight,  we  have  the  tool  do  it.    Michael    This  is  the  dinner  line.  Salads,  dinners,  pizzas  and  strombolis  down  that  line.    Ravi    Every  business  is  family  owned.  They  have  been  in  the  business  somewhere  between  20  to  40  years.  And  they  believe,  obviously  they  believe  in  the  community  and  they’ve  been  invested  in  it.  So  we  want  them  to  be  successful  and  that’s  our  goal.  

 -­‐-­‐-­‐  

Metro  Community  Development  metro-­‐community.org  

   

Patenting  Quinn  Law  Group,  PLLC  

 

Reid  DeManche    People  should  think  of  patents  as  an  investment.  If  your  whole  business  is  based  on  selling  a  specific  product,  and  it’s  going  to  be  really  easy  for  someone  else  to  say,  “Hey.  That  product  is  neat.  This  other  business  is  selling  it  for  $5.  They  did  all  the  work  to  develop  it.  I  can  steal  their  idea  and  make  it  myself  for  $2  and  sell  it  for  $3,”  then  you  might  need  a  patent  to  protect  from  the  other  company  coming  in  and  stealing  your  idea  to  your  detriment.    You  can  patent  things  like  materials.  You  can  patent  new  chemicals.  You  can  also  patent  processes  or  methods.    The  requirements  for  a  patent  are  that  it’s  new  and  non-­‐obvious.  And  this  may  be  a  good  example  of  the  difference  between  new  and  obvious:  there’s  nothing  that  says  you  can’t  patent  a  food  recipe.  Problem  is  that  most  of  the  ingredients  that  you  use  in  a  recipe  have  been  known  forever,  and  so  the  patent  office  might  say,  “Look.  Putting  a  different  type  of  cinnamon  on  top  of  your  sugar  cookies…  it  was  obvious  to  try  some  different  types  of  cinnamon.”  So  that’s  a  spot  where  maybe  you  can  prove  that  no  one  has  ever  used  that  type  of  cinnamon  on  sugar  cookies  before.  But  it’s  not  that  much  of  a  stretch,  it’s  not  that  much  of  a  leap  to  try  some  different  types  of  cinnamon  on  your  sugar  cookies.    The  first  step  in  your  process  is  going  to  be  an  investigation,  analysis,  or  research  step.  So  your  patent  attorney  or  agent  is  going  to  learn  about  your  invention.  Likely  then  we’re  going  to  go  look  around.  Somebody  else  may  have  done  it  already.  Maybe  they  weren’t  successful  at  it.  Maybe  they  published  a  paper  about  it  in  the  50’s  and  couldn’t  figure  out  how  to  get  funding  for  their  idea,  so  it  went  away.  Even  though  you  don’t  know  about  it,  even  though  it  wasn’t  ever  commercially  produced,  maybe  that  product  or  process  is  still  old  and  you’re  not  going  to  get  a  patent.    So  after  that,  then  you’re  going  to  go  ahead  and  begin  drafting  a  patent  application.  That  process  ends  with  filing  the  patent  application  at  the  United  States  Patent  and  Trademark  Office.  They’re  going  to  say,  in  most  cases,  “We  don’t  think  you  deserve  a  patent.”    Your  patent  agent  or  patent  attorney  are  then  going  to  go  back  and  forth  with  the  patent  office  several  times  arguing,  refining,  pointing  out  things  that  we  think  are  mistakes.  They  might  point  out  tweaks  we  could  make  to  our  language  that  would  allow  the  patent  to  issue.  this  process  varies  widely  in  time  and  in  money.  Anywhere  from  1-­‐3  years  is  normal.    After  that,  hopefully,  you’ve  spent  all  this  time,  all  this  money,  the  examiner  says,  “Okay.  We’re  going  to  issue  this  as  a  patent.”    So  even  after  you’ve  done  all  the  work,  every  four  years  if  you  want  to  keep  your  patent  alive,  you’re  going  to  have  to  pay  a  maintenance  fee.  Depending  on  your  company  size,  whether  you  are  an  individual,  you  may  get  a  break  on  those  fees.    

Check  the  United  States  Patent  and  Trademark  Office  for  their  inventor  resources.  Before  you  start  shelling  out  money  or  even  trying  to  find  your  patent  attorney  or  patent  agent,  get  as  much  information  as  you  can.    

-­‐-­‐-­‐  Reid  DeManche  

Quinn  Law  Group,  PLLC  Novi,  MI  

quinnlawgroup.com      

Microenterprise  Network  of  Michigan  Resource  Directory    

Looking  for  small  business  resources?  The  Microenterprise  Network  of  Michigan  resource  directory  lets  you  search  Michigan  for  what  you  need,  from  lending  to    business  incubators  to  technical  assistance.  Search  by  service,  country,  entrepreneur  type,  and  industry.  Use  one  or  more  categories  to  find  resources.    Find  the  online  directory  at  http://michiganmicro.org.  You  can  also  learn  about  becoming  an  MNM  member  here.  Membership  is  free  when  you  join  CEDAM  and  gives  you  access  to  members-­‐only  funding  alerts,  news,  discussions,  and  quarterly  meetings  on  the  most  up-­‐to-­‐date  microenterprise  topics.      

Main  Street  Business  Resources  Blissfield  Downtown  Development  Authority  

 Patricia  Rayl    Blissfield  DDA  Main  Street  program  has  been  in  effect  for  about  three  years  now.  And  before  that  we  were  also  doing  façade  grants  as  part  of  the  DDA.  We’ve  been  over  the  last  fourteen  years  or  so  slowly  and  steadily  improving  the  look  of  our  downtown  community.    We  do  parades,  we  do  car  and  bike  shows,  for  example.  We’re  open.  We  want  to  welcome  people  to  town  and  we  want  to  welcome  new  businesses.    We  have  created  something  we  call  our  business  resource  guide.  And  it  has  wonderful  information  in  it  about  the  local  process  and  who  to  talk  to  if  you  have  questions.  But  we  also  have  the  resources  from  the  Small  Business  Administration  and  SCORE,  that  sort  of  thing.  But  also  for  somebody  who’s  just  trying  to  explore  whether  they  want  to  have  a  business  in  town,  we  have  our  market  study  that  we  just  did  recently  available  as  well.  So  we’ve  got  that  summarized  in  here,  but  I  can  also  be  happy  to  give  it  to  anybody  who  wants  it.    

DDAs  around  the  state,  they’ll  have  their  own  individual  spin  and  flavor,  but  the  whole  idea  with  downtown  development  authority  is  that  revitalization  of  downtowns.    In  Blissfield,  we  used  to  have  something  called  Richland  Furs,  and  they  were  the  largest  furrier  in  the  whole  nation  at  one  point.  And  in  fact  I  ran  across  an  article  from  the  30’s  that  talked  about  how  they  had  a  plane  and  if  you  lived  within  150  miles  they  would  send  their  plane  out  to  get  you  and  bring  you  to  town  to  do  your  shopping  and  take  you  back  home.    We  have  a  really  great  home  furnishing  business  called  Blissful  Living.  And  then  across  the  street  is  an  original  old-­‐fashion  soda  fountain  called  Cakes  n’  Shakes.  Next  to  that  is  our  florist,  and  actually  those  buildings  were  burnt  at  one  point  just  recently  in  2010.  So  the  fire  meant  that  they  had  to  start  over,  and  so  the  DDA  and  Main  Street  was  very  helpful  in  getting  them  back  on  their  feet  and  they’re  thriving  today.    

-­‐-­‐-­‐  Blissfield  Main  Street  

BlissfieldMainStreet.com      

Marsha  Lyttle    The  SBA  defines  a  small  business  as  having  500  or  fewer  employees.  That’s  sort  of  the  generic  definition.  There  are  a  lot  of  sub  definitions.  But  that  works  for  us.    Angela  Barbash    Our  hope  is  that  with  the  entrepreneurial  environment  that  we’re  building  in  Michigan,  that  we  will  help  businesses  fail  less.  That’s  the  goal.  And  succeed  more!  Thereby  investors  succeed  more  and  fail  less.    Ravi  Yalamanchi    So  in  the  loans  we  made,  we  sustained  and  grew  to  a  number  of  220  jobs  over  a  period  of  2  to  3  years.  So  that’s  the  impact  we’re  looking  at.    Patricia  Rayl    We  also  have  seen  some  buildings  that  have  been  let  to  take  care  of  themselves  freshly  painted  and  revitalized  and  there’s  even  buildings  that  are  finding  new  owners,  which  we’re  very  excited  about.    Marcy  Bishop  Kates    I’ve  always  wanted  to  be  an  entrepreneur.  Every  hobby  I’ve  ever  had  my  entire  life,  I  thought  about  how  to  make  it  into  a  business.  And  so  I  kind  of  decided  it’s  either  now  or  never.  And  so  it  was  now.    

-­‐-­‐-­‐  BrightSideTV.com  

   

Outtakes    Marsha  Lyttle    We  used  to  be  the  Michigan  Small  Business  and  Technology  Development  Center.    

Olivia  Courant    But,  the  name  and  position.    Marsha    Okay.  My  name  is  Marsha  Lyttle.  I  am  the  regional  director  for  the  Michigan  Small  Business  and  Tech…  oh  wait,  scratch  that!    Olivia    Woah,  yeah!    Marsha    So  used  to  saying  it.  

 Olivia  Courant  [laughing]    

Marcy  Bishop  Kates    You  like  my  signs?      Olivia    Is  this  the  freezer?    Marcy    That’s  my  favorite  one.  It’s  Christopher  Walken.  It’s  a  walk-­‐in!  

 -­‐-­‐-­‐Credits-­‐-­‐-­‐  

 Producer  CEDAM    Episode  made  possible  by:  MIplace.org    Music  Keffy  Kay  –  “To  The  Light”  Josh  Woodward  –  “Morning  Blue,”  “Snooter,”  “Evolution,”  “Handyman’s  Lament”  

(joshwoodward.com)  Dan-­‐O  Songs  –  “Shine  Gold  Light  –  Classical  Mix”  (danosongs.com)  Kevin  MacLeod  –  “Jarvic  8”  (incompetech.com)  Bensound.com  –  “Going  Higher,”  “Dance”  Tyler  Vander  Maas  –  “The  Bright  Side  Theme”    This  show  made  possible  by  an  equipment  grant  from  the  Lansing  Public  Media  Center.