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|Articles - May 2013|
|Monday, April 29, 2013|
BY TIM MCCABE
Oregon is a state of small businesses. More than 75% of the businesses in the state employ only between one and nine employees. That is why, at Business Oregon, we focus so much of our work on helping small businesses finance growth and find new markets for their products. Our Business Finance team’s effectiveness has multiplied exponentially in the last two years, in part due to the infusion of $16.5 million in State Small Business Credit Initiative (SSBCI) funds from the federal government. These funds, combined with our existing funding from Oregon Lottery revenue, are used in partnership with private lenders to leverage everyone’s resources to best accommodate business growth.
These are revolving loan and loan-guarantee programs, not grants or giveaways. So far, we’ve helped nearly 100 Oregon small businesses and disbursed close to $5 million of the SSBCI funds. Better yet, rural companies, often located in the areas of highest unemployment in the state, have received 61% of the SSBCI funds.
Oregon’s success in supporting businesses with this fund has been noticed nationally and was highlighted recently by Toby Rittner, president and CEO of the Council of Development Finance Agencies. “Business Oregon is a state agency [that] is cutting edge, innovative and an example of best practices in our industry,” Rittner said.
Overall, the number of loan guarantees issued through Business Oregon’s Credit Enhancement Fund (CEF) increased 25% in 2012 over the previous year. In 2012 Business Oregon helped private lenders issue more than $30 million in loans and the total loan amount rose 57% over the same period. In addition, the number of new jobs created as a result of the CEF loan guarantees also increased 74%.
We can do more. These tools are intended to free up capital to spur small-business growth, and we can work with your business and lender to do just that. A great example of how we can help Oregon small businesses reach their goals is Boneyard Beer in Bend. Only in Oregon could a former keg washer for Deschutes Brewery, who moved to Bend to snowboard, first become a builder and salvager of brewing equipment, then start a microbrewery that now perches on the doorstep of Oregon’s top 10 microbreweries. And he did it in less than three years.
That is the story of Boneyard Beer co-owner and head brewer Tony Lawrence. Lawrence named his brewery after the “boneyard” of discarded and used brewing equipment he collected and then rebuilt to produce his first keg of Boneyard beer in April 2010. In less than three years, Boneyard had grown to become Oregon’s 11th largest microbrewery, increasing its sales 175% in 2012 to reach 7,500 barrels of production. Central Oregon is already home to several of the state’s top breweries, and the three-county region leads the state with one brewing-industry job for every 390 residents.
Business Oregon recently signed on to partner with Boneyard to grow into a 15,000-square-foot plant in northeast Bend complete with a new canning line. The company used a Business Oregon loan guarantee in partnership with the company’s local bank. The company’s new plant is expected to allow it to double its brewing production in 2013. The company currently employs about a dozen workers and hopes to start canning beer this month. This is how we can partner with small businesses to reach their potential, and with fine examples like Boneyard Beer, some of the best beer in the world gets created along the way.
Tim McCabe is the director of Business Oregon. Visit Oregon4biz.com for more information.
Wednesday, October 22, 2014
BY JASON NORRIS
Historically, when the leaves fall, so do the markets. This year, earnings, Europe, energy and Ebola have in common? Beyond alliteration, they are four factors that the investors are pointing to for this year’s seasonal volatility.
Thursday, December 18, 2014
BY JASON NORRIS | OB CONTRIBUTOR
The implosion of the energy complex: The best thing for low oil prices is low oil prices.
Thursday, December 04, 2014
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
Nothing says startup culture like a ping pong table in the office, lounge or lobby.
Thursday, December 11, 2014
BY JESSICA RIDGWAY
Lawger upends the typical hourly based fee model by letting clients determine the cost.
Friday, December 12, 2014
BY LINDA BAKER
Studying ground-running birds, a group that ranks among nature's speediest and most agile bipedal runners, to build a faster robot.
Friday, December 12, 2014
BY LINDA BAKER
A conversation with Oregon state economist Josh Lehner.
Thursday, December 11, 2014
There’s a fascinating article in the December issue of the Harvard Business Review about a profound power shift taking place in business and society. It’s a long read, but the gist revolves around the tension between “old power” and “new power” as a driver of transformation. Here’s an excerpt:
The authors, Henry Timms and Jeremy Heimans, don’t necessarily favor one form of power over another but merely outline how power is transitioning, and how companies can take advantage of these changes to strengthen their positions in the marketplace.
Our Powerbook issue might be viewed as a case study in the new-power transition. This annual book of lists provides information on leading businesses, nonprofits and universities in the state. Most of the featured companies are entrenched power players now pursuing more flexible and less hierarchical approaches to doing business. Law firms, for example, are adopting new technologies and fee structures to make legal services more accessible and affordable.
This month we also take a look at a controversial new U.S. Securities and Exchange Commission rule requiring public companies to disclose the median pay of workers, as well as the ratio between CEO and median-worker pay.
Part of the 2010 Dodd-Frank financial reform law, the rule will compel public companies to be more open about employee compensation, with the assumption that greater transparency will improve corporate performance and, perhaps, help address one of the major challenges of our time: income inequality.
New power is not only about strategy and tactics, the Harvard Business Review authors say. “The ultimate questions are ethical. The big question is whether new power can genuinely serve the common good and confront society’s most intractable problems.”
That sounds like a call to arms. Or a New Year’s resolution. Old power or new, the goals are the same: to be a force for positive change in the world. Happy 2015!
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