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|Articles - March 2014|
|Tuesday, February 25, 2014|
Page 3 of 5
Democratization of money
Online and mobile banking platforms do more than create efficiencies; such innovations are also helping small businesses access capital. In the wake of the recession, banks tightened their lending practices, prompting some entrepreneurs to seek out “crowd funding”: an Internet appeal asking potential investors to pool money to help finance a project.
Although Brooklyn-based Kickstarter is the largest crowd-funding platform, Crowd Supply, a Portland startup, offers a more comprehensive approach, says CEO and director of projects Josh Lifton. He says his company offers more than Kickstarter by working with entrepreneurs on preorders and sales, and connecting them with manufacturers and other services to get their products to market. This gives supporters a better sense of the project’s feasibility.
“Why make the same mistakes that literally everyone before you has made as a first-time product developer?” Lifton asks.
So far Crowd Supply has launched more than 50 projects, including a French press coffee maker, a set of laptop cases and a mini synthesizer. Lifton says successful campaigns have raised half a million dollars through its website since going live last year.
In 2012 President Barack Obama signed the JOBS Act, which contained a provision intended to make crowd funding more mainstream. Although that has yet to happen, crowd funding does allow businesses to raise funds when banks are tightfisted, and a previously successful campaign could help an entrepreneur convince a reluctant lender.
The next stage may be leveraging mobile and online technology to benefit people on the economic margin. “What we need to do with tech is not just come up with new, sexy ways for rich people to buy lattes,” says David Wolman, the Portland-based author of The End of Money, a book that argues physical money will go the way of the pay phone. Cash hurts the poor because it’s more difficult to save, it makes them vulnerable to theft and fraud, Wolman says. It also costs money to cash checks.
Aiming to correct these problems, the Seattle based Bill & Melinda Gates Foundation has made it a goal to make financial services more accessible in the developing world. One project involves M-Pesa, a service used by millions of people in Africa and Asia who lack money and access to banks. M-Pesa allows users to transfer, receive and deposit money using mobile phones for relatively small transaction costs.
The system been praised for helping the world’s poor better manage money — and for making people more productive. One study found that rural Kenyan households that adopted M-Pesa increased their income by 5% to 30%.
Conceivably, that kind of technology could also benefit the poor in the U.S. According to a 2011 FDIC study, one in 12 U.S. households do not have a bank account. Why? The most common reason is they don’t have enough money.
Monday, July 13, 2015
BY SAM BLACKMAN
Storyteller-in-chief with the CEO and co-founder of Elemental Technologies.
Wednesday, August 19, 2015
BY LINDA BAKER
In 2010 Vanessa Keitges and several investors purchased Portland-based Columbia Green Technologies, a green-roof company. The 13-person firm has a 200% annual growth rate, exports 30% of its product to Canada and received its first infusion of venture capital in 2014 from Yaletown Venture Partners. CEO Keitges, 40, a Southern Oregon native who serves on President Obama’s Export Council, talks about market innovation, scaling small business and why Oregon is falling behind in green-roof construction.
Wednesday, August 19, 2015
BY CHRIS NOBLE
Oregon is home to an abundance of gritty warehouses reborn as trendy office spaces, as well as crafty hipsters turned entrepreneurs. Does the combination yield an equally bounteous office products sector? Not so much. Occupying the limited desk jockey space are Field Notes, a spinoff of Portland’s Draplin Design Company, and Schuttenworks, known for whittling Apple device stands. For a full complement of keyboard trays, docking stations and mouse pads, check out the GroveMade line, guaranteed to boost the cachet of even the lowliest cubicle drone.
Monday, August 03, 2015
BY KIM MOORE | RESEARCH EDITOR
Pushing the extreme.
Thursday, August 20, 2015
BY JOE CORTRIGHT
We get the education we deserve.
Wednesday, August 19, 2015
BY JACOB PALMER
A Power Lunch at Bob's Red Mill Whole Grain Store and Restaurant.
Wednesday, July 01, 2015
There are more than 10 million former military members working in the United States.
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Transforming the culture of Oregon’s educational leadership.
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Every once in a while we receive a letter in the (fictional) mailbag that is tough to describe and quite compelling. This week, Isabel, the new HR manager at LabCo (and someone who is new to HR), wants to know whether she may fire the owner’s son for having an Oregon medical marijuana card. In passing, Isabel also makes a number of alarming admissions about her motivation. Here is Isabel’s nerve-racking question and our response to it.
Oregon Sick Leave is here, and changes to the federal white-collar worker regulations are on the way. This workshop will prepare you for both. We invite you to participate in an interactive discussion on how to start planning now for the future impact on your operations and finances.
Presented by OEN + CENTRL + YESpdx.
This Roundtable will cover numerous issues under the employer "shared responsibility" rules of the Affordable Care Act, including how to track the "full-time" status of variable-hour employees, temporary or seasonal employees, and employees who experience a change in status or a break in service. Additionally, we will provide a brief overview of Code sections 6055 and 6056, which require most mid-sized and large employers to submit their first information reports to the IRS in early 2016 regarding the health insurance coverage being offered to employees. We invite you to participate in an interactive discussion on how to prepare for the future impact of the shared responsibility rules on your operations and finances.