Study: New Businesses Emerging
PHILADELPHIA, June 22 /PRNewswire-USNewswire/ -- Turns out there's an upside to this downturn, according to a new study by the Ewing Marion Kauffman Foundation: more entrepreneurial activity.
"We're certainly still seeing individuals interested in starting businesses, and I can't say we're surprised," said Christian Conroy, State Director of the Pennsylvania Small Business Development Centers (SBDC), a network of 18 university- and college-based centers which provides assistance to new and existing businesses across the Commonwealth.
Greg Buckner of Bradford, Pa. began seeking financing to start his business last fall, at the height of the financial collapse. He worked with the Clarion University SBDC to develop a business plan and conduct market and competitive analysis, which supported financial projections presented to the bank and area partners. Buckner secured total funding of $119,000 and began his crematory service in late October.
The business is already above the projections, and Buckner has since hired a part-time employee. "I would recommend the SBDC to anyone starting a business," he said.
Kelly Shick pursued her own business after being laid off from Osram-Sylvania. The Gannon University SBDC helped Schick take over a former sports bar in downtown Warren, Pa., after navigating her through the loan process. "I might have given up without the assistance and encouragement from the SBDC," Schick said, who is now proud owner of Kelly's Pub.
For the full story, go HERE.
"We're certainly still seeing individuals interested in starting businesses, and I can't say we're surprised," said Christian Conroy, State Director of the Pennsylvania Small Business Development Centers (SBDC), a network of 18 university- and college-based centers which provides assistance to new and existing businesses across the Commonwealth.
Greg Buckner of Bradford, Pa. began seeking financing to start his business last fall, at the height of the financial collapse. He worked with the Clarion University SBDC to develop a business plan and conduct market and competitive analysis, which supported financial projections presented to the bank and area partners. Buckner secured total funding of $119,000 and began his crematory service in late October.
The business is already above the projections, and Buckner has since hired a part-time employee. "I would recommend the SBDC to anyone starting a business," he said.
Kelly Shick pursued her own business after being laid off from Osram-Sylvania. The Gannon University SBDC helped Schick take over a former sports bar in downtown Warren, Pa., after navigating her through the loan process. "I might have given up without the assistance and encouragement from the SBDC," Schick said, who is now proud owner of Kelly's Pub.
For the full story, go HERE.
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