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...
Entrepreneurs, Economic Developers Gain Big Ideas on Small Business
Start-ups
web
posted March 6, 2008
COLUMBIA – A diverse audience of more than
100 small business owners, economic developers, university staff and
entrepreneurs participated in the state’s first “Conversation on
Incubators,” hosted Wednesday at the Marriott by New Carolina – South
Carolina’s Council on Competitiveness.
According to New Carolina Executive Director George Fletcher, the goal
of the seminar was to inspire local business leaders to step up
existing efforts or launch new programs to help entrepreneurs in South
Carolina.
“As we work to increase the state’s per capita income, we realize the
value of growing our own businesses as a critical component of the new
economic development model,” Fletcher explained. “Today’s speakers have
a vast array of experience in coaching entrepreneurs or starting up new
businesses themselves. We hope today’s participants will have a greater
understanding of the role incubators, accelerators and business
resource centers have in improving the success rate of new start up
companies.”
Keynote speaker Dinah Adkins helped start the National Business
Incubation Association and became its President and CEO in 1986. She
agreed that opinions are changing about the role entrepreneurial
development has in creating jobs and wealth. “There is a growing
understanding of the important role entrepreneurs play not only in the
U.S. but throughout the world.”
But the U.S. leads the way thanks in part to its long-valued history of
innovation and experimentation, its access to credit, its short
timeline for business start-up, and its acceptance of failure. “In some
parts of the world, when a business fails, that’s it,” Adkins told the
audience. “The U.S. leads in high growth, high expectation
entrepreneurs who are looking to start companies that employ 20 or more
people. They are not businesses based on necessity to employ one or
more family members.”
Adkins said among the best practices for starting an incubator or
business center were having a realistic understanding of the
marketplace and an experienced manager with respect in the business
community. “You need people who know how to grow companies, use sound
financial models with diversified revenue streams, and are focused on
tracking return on investment.”
Following Adkins remarks, a panel of local experts, including Richard
Robinson of USC’s Faber Center for Entrepreneurship, David Hughes of
the Clemson Institute for Economic and Community Development, Joel
Stevenson of the USC/Columbia Technology Incubator, and Don Tomlin of
Tomlin and Company, Inc., shared their insights and experience in new
start-up ventures and using incubators.
The South Carolina Department of Commerce served as the presenting
sponsor for the Conversation event. Secretary of Commerce Joe Taylor
cited resources such as incubators and entrepreneurial coaching as
valuable tools in his own business success.
“I learned from personal experience that having the opportunity to
discuss business ideas with other entrepreneurs is a fundamental
element of being able to start and grow your own business,” Taylor
said. “Incubators can be a wonderful vehicle for this exchange. In
order for there to be continued success, the community and local
leaders must invest in incubators with the goal in mind to not simply
start an incubator but encourage successful enterprises to graduate
from them.”
In addition to New Carolina and the Commerce Department, the
Conversation’s sponsors included the USC/Columbia Technology Incubator,
Clemson Institute for Economic and Community Development, and SCLaunch!
along with help from the Greater Columbia Chamber of Commerce.
Together with partners, South Carolina’s Council on Competitiveness is
driving the movement towards
http://www.NewCarolina.org –
a South Carolina with a brighter future and a competitive, winning
economy. The focus is on a strategy to build clusters, improve
the economic environment and connect the dots between efforts across
the state.
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EdgefieldDaily.com All
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