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.
Since the Covid-19 pandemic hit the U.S. about a year ago, several organizations have stepped up trying to help business owners navigate the resources and programs available to help them survive.
Nearly 2,000 businesses have taken advantage of one-on-one sessions offered by the Minnesota Chamber of Commerce, which also updates its Covid-19 Business Toolkit daily with new resources and information. Its Grow Minnesota! Program connects business owners with economic data and insights on the recovery and access to Minnesota-based suppliers.
In one case, the organization was able to assist a local business in overcoming an international travel ban to get a project manager to Canada to work on a large project.
“Since the outset … the Minnesota Chamber has worked tirelessly for our member organizations,” says Doug Loon, president.
The Metropolitan Economic Development Association (Meda) has a Community Development Fund Institution that has provided capital to Black, Indigenous and people of color-owned businesses to aid in their survival. It has partnered with Cummins on a grant and forgivable loan program and has its Opportunity Finance Network/Grow with Google program has funds available for Black-owned businesses, as well.
“During these economically tumultuous times, Meda is the one-stop shop for Paycheck Protection Program loans, economic injury disaster funding, securing lines of credit” and access to consultants, loan application assistance and other services, says Alfredo Martel, CEO.
SCORE Twin Cities has a team of 130 experienced team members providing mentoring services. It offers an online, interactable Client Resource Guide and hosts nearly 200 workshops locally, each covering a variety of start-up and ongoing business topics. The workshops are supported by more than 45 partners bringing a variety of areas of expertise to the business community, says Harry Miller, co-chair.
WomenVenture exists to level the playing field for women entrepreneurs who face obstacles in the world of business. This past year, the organization has provided resources on its Covid Update Hub online and offers 35-minute Zoom consultations with volunteers through its Virtual Business Advice Service. “This past year has been hard on businesses — particularly women-owned businesses — and our job is to support business during the pandemic,” says Kathy Pyle, senior business consultant.
In preparation for the coming economic recovery, Enterprise Minnesota is offering manufacturing business assessments, currently at no cost, says Bob Kill, president and CEO. Assessments cover seven areas and they are unique to each business. “We work with your organization to understand your value chain and processes,” Kill says. “At the conclusion, you will be presented with a report that makes recommendations on what’s working and what’s not, with next step actions to take.”
Enterprise Minnesota is offering manufacturing business assessments covering seven areas of business aimed at helping your organization understand your value chain and processes. At the end, you’ll receive an assessment with recommendations on what’s working and what’s not.
To learn more: President & CEO Bob Kill
www.enterpriseminnesota.org
612.373.2900
The Metropolitan Economic Development Association (Meda) offers a variety of programs, from business development and access to capital to corporate and governmental market support, for business owners who are Black, Indigenous and people of color (BIPOC). Its Community Development Fund and other programs and partnerships offer financial and other forms of relief.
To learn more: Alfredo Martel, CEO
www.meda.net/services
612.332.6332 & in**@**da.net
Minnesota Chamber of Commerce staff offers one-on-one assistance to companies looking for guidance on compliance, safety, reopening and available funding sources. Its Business Toolkit (https://www.mnchamber.com/blog/covid-19-business-toolkit) is an online resource that is updated daily with resources, including a database of more than 700 funding sources.
To learn more: Doug Loon, president
www.mnchamber.com/blog/local-covid-19-resource-database
dl***@*******er.com
SCORE Twin Cities has an interactive Client Resource Guide (https://twincities.score.org/resource/score-twin-cities-client-resource-guide-0) accessible to business owners on its website that can be used to develop plans or improve development efforts. It includes access to local workshops and guides for various needs.
To learn more: Harry Miller, co-chair
www.Twincitiesscore.org
952.938.4570 or tw********@************er.org
Women Venture’s business consultants have been working to help small businesses apply for COVID relief funding and are advising on Paycheck Protection Program applications. The organization also offers 35-minute Zoom consultations with volunteers and has a COVID Update Hub on its website (https://www.womenventure.org/covid-19-update-hub.html) with resources and opportunities.
To learn more: Kathy Pyle, senior business consultant
www.womenventure.org
612.224.9540 & in**@*********re.org
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.
