Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
Multiple resources can help owners through tough spots
by Matt Krumrie When Mendota Heights-based CPA Richard Schmitt needs to find answers to questions on workers compensation or employment law, he knows he can find ideas through other small-business owners he’s met through the Northern Dakota County Chamber of Commerce.
When Phil Brunger of Intellifeed Inc. needed assistance attracting highly skilled employees to the Rosemount-based company, he consulted with Joe Klein of the Department of Employment and Economic Development Division in West St. Paul.
If business owners want to expand their skills, they can do that through Dakota County Technical College’s Business and Entrepreneur Leadership Institute. Or they can get training for themselves or employees through Inver Hills Community College’s Center for Professional and Workforce Development.
It’s safe to say Dakota County has ample educational, economic and training resources for small-business owners. The county is home to six different chambers of commerce, with the largest being the Northern Dakota County Chamber of Commerce.
Based in Eagan, the NDC serves the cities of Eagan, Farmington, Lilydale, Mendota, Mendota Heights, Rosemount, Sunfish Lake and West St. Paul. The River Heights Chamber of Commerce serves the cities of Inver Grove Heights and South Saint Paul, and the cities of Apple Valley, Burnsville, Hastings and Lakeville each has its own chamber.
“It is more than just a way to gain business,” says Schmitt of his involvement in the chamber. “It’s a way to talk about everyday business problems or issues with people going through or dealing with the same thing as you.”
More than networking
Jennifer Gale, president of the Inver Grove Heights-based River Heights Chamber of Commerce, says the goal of chambers is more than just to provide networking opportunities for local businesses.
The River Heights Chamber has developed a seminar series with business leaders from throughout the Twin Cities, and prides itself on identifying resources for small-business owners, providing marketing assistance, and acting as a liaison between other small businesses in the communities it serves.
“We try to provide as many goods and services that we can,” says Gale. “But we like to hear what our members want, what they think will make us a stronger chamber. That’s important to success.”
In 2005 21 emerging business leaders graduated from the Dakota County Leadership Academy. The program is a partnership between the Northern Dakota County, River Heights, Burnsville, Hastings and Lakeville chambers, and Inver Hills Community College. It offers curriculum that prepares participants for leadership opportunities including non-profit boards and commissions.
“Enrollees become better leaders at work and develop a strong network of peers throughout the region,” says Ruthe Batulis, president of the Northern Dakota County chamber. “Employers gain company exposure, increase the leadership talent within their company, and create company ambassadors for the community.”
Offering education
Dakota County Technical College’s (DCTC) Business and Leadership Institute was founded in 2004 and is located at the Partners in Higher Education site, in the old City Hall in Apple Valley.
The B&E Institute serves owners of businesses of all sizes, from the few-employee mom-and-pop stores to companies with 100 to 500 employees. It helps with business consulting and counseling, offers an entrepreneur speaker series, assistance with finding space, small-business loan information, and various educational opportunities, including a certificate of entrepreneurship.
“We can provide an objective opinion and best of all, that service is free,” says Christine Pigsley, associate dean of business and entrepreneurship at DCTC.
The Dakota County Workforce Investment Board has partnered with the B&E Institute and Dakota Future to develop Dakota County BizPathways (www.dakotacountybizpathways.org), a business resource for entrepreneurs. It’s a Web-based tool that will help users connect with information, resources and colleagues that help grow a business.
The WIB oversees employment and training programs within Dakota & Scott counties (www.mnwfc.org/dakota/wib). With a commitment to serving both employers and job seekers, the WIB develops programs through Dakota and Scott counties’ workforce centers.
The WIB council consists of 23 members appointed by the County Board of Commissioners. Of those members, more than 50 percent represent business owners, including the manufacturing, personnel, service, restaurant and health care industries.
Dakota Future is an economic development initiative focused on leadership, vision, workforce and global competitiveness. Its site (www.dakotafuture.com) serves as a portal for business information, including sites and buildings, workforce and education information.
“Dakota County is a booming economic community that plays a key role in the Twin Cities business community,” says Bill Coleman of Dakota Future. “We strive to improve opportunities and help our businesses grow.”
Dan Rogness of the Dakota County Community Development Association works with an organization called Dakota County Capital (DCC), which has been in existence for about 10 years. Its goal is to assist businesses that may have a financing gap as they work with their lenders.
However, due to inactivity over the past three to five years, DCC decided to put much of its remaining capital into another business financing venture called Twin Cities Community Capital Fund (www.tcccf.org), says Rogness. The purpose of the fund is to leverage millions of dollars in economic development funds owned by local governments and financing organizations.
Progress Plus (www.progressplus.org) is a public/private partnership that is designed to accommodate planned development in Inver Grove Heights and South St. Paul. It maintains a database of more than 150 buildings and sites, and meets with government officials to facilitate development projects.
Dakota Electric Association in Farmington is the second-largest electric cooperative in Minnesota. Its power supplier, Great River Energy, has financing available through a special Business Financing Program (BFP).
“The program was designed as a flexible financing tool targeted to owner-operated businesses,” says Joe Miller, public relations specialist for Dakota Electric.
There’s more, but this sampler of services shows the variety of help that business owners can use. “We’re supportive,” says Coleman, with Dakota Future. “We want business to succeed and grow.”
[contact] Ruthe Batulis, Northern Dakota County Chamber of Commerce: 651.452.9872; rb******@*********rs.com. Phil Brunger, Intellifeed Inc.: 651.423.7220;**************@*********ed.net“> in**************@*********ed.net. Bill Coleman, Dakota Future: 651.491.2551 ; bi**@**********re.com. Jennifer Gale, River Heights Chamber of Commerce: 651.451.2266;**@**********ts.com“> in**@**********ts.com. Joe Miller, Dakota Electric: 651.463.6212 in**@************ic.com. Christine Pigsley, Dakota County Technical College: 651.423.8602; in*******@**tc.edu. Dan Rogness, Dakota County Community Development Association: 651.675.4464; dr******@****************mn.us. Richard Schmitt, Richard Schmitt CPA: 651.454.0141; ti******@******nk.com
Cannabis-based products have been increasingly available in Minnesota over the last six years. The opportunities in that space became even more prominent last year when the state legislature voted to become the 23rd state to legalize adult recreational use of marijuana for Minnesotans over 21.
When Super Bowl LII was played at U.S. Bank Stadium in February 2018, Alex Tittle didn’t play a down on the field, but he had more than three-years of impact on the experience.
Unemployment in Minnesota sits below 3 percent. Labor market participation is high. Airport traffic counts across the country are approaching and even surpassing pre-pandemic levels, so consumers are still spending money. Consumer confidence, reportedly spurred by the strong labor market, also seems at least cautiously on the rise.
