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February 27, 2015

Financing Workshop Announced By SRDC & VtSBDC

Filed under: SRDC — admin @ 9:33 pm

Representatives from Peoples United Bank, Vermont Community Loan Fund, Vermont SBA, Vermont Economic Development Authority, and Springfield Regional Development Corporation will participate in a three-hour, workshop and panel discussion to help small businesses develop a better understanding of best practices and resources for financing a business in Vermont.
As part of the Economic Development Agency’s support for continued recovery from the 2011 flooding disasters, this workshop is offered jointly by the Springfield Regional Development Corporation (SRDC) and the Vermont Small Business Development Center (VtSBDC). The three-hour workshop is free by registration and begins at 9:00 am on Friday, March 20, at the NewsBank, 397 Main Street, Chester, Vermont 05143.

“To grow and thrive in today’s competitive economy, small businesses need to understand how to manage their money and develop solid financing relationships,” says Bob Flint, SRDC Executive Director.

Attendees can expect to learn how to address their financing needs by:
• understanding how to determine the mix of equity and capital that’s right for their situation
• learning about what sources of capital are available to them
• knowing how to put together a winning application to present to lenders
Small business owners, managers, and entrepreneurs can register online:

CLICK HERE TO REGISTER
Or go to this address:

https://vtsbdc.centerdynamics.com/workshop.aspx?ekey=30350007

About Springfield Regional Development Corporation (SRDC)
SRDC is a private, non-profit regional development corporation serving ten towns in Southern Windsor County Vermont. Our mission is to help companies create and sustain employment in our region. Primary interest is in the creation and retention of value-added jobs. Online at www. springfielddevelopment.org
About Vermont Small Business Development Center (SBDC)
Vermont Small Business Development Center (VtSBDC) provides no-cost business advising and low-cost training to all Vermont entrepreneurs starting or growing their own businesses. Online at www.vtsbdc.org

February 2, 2015

The Search for a Good Exit: Ownership Succession Planning Workshop on 3/5 in Springfield

Filed under: SRDC — admin @ 8:40 pm

An introduction to business ownership succession planning will be offered on Thursday, March 5 from 2:00 to 5:00 PM at the Howard Dean Education Center, 307 South Street in Springfield.  There is no cost for this event.  Attendees will receive a copy of “An Owner’s Guide to Business Succession Planning.”

In this seminar, you will learn the basics of how to choose a path for ownership succession in your business.  We will take a close look at four different ways of selling a business: to an outsider, to family members, to managers or to the larger group of employees.  While we will get into some technical details, the focus will be on stories about each path, told via video by owners who have been involved in the sale of Vermont businesses.  Our lead presenter will be Jeffrey Graham, owner and managing officer of Graham & Graham, P.C., a full service accounting and consulting firm with offices located in Springfield and Barre, Vermont, and Laconia and Concord, New Hampshire.

Attendance is limited to business owners and key managers.

Sponsors of the event are the Springfield Regional Development Corporation, the Vermont Small Business Development Center, the Vermont Manufacturing Extension Center and the Vermont Employee Ownership Center, with funding provided by Northfield Savings Bank and the Vermont Agency of Commerce and Community Development.

To register, please click here.

December 15, 2014

The Politics of Economic Development

Filed under: SRDC — admin @ 9:09 pm

(This column by SRDC’s Executive Director Bob Flint appears in the December SRDC Newsletter)

I’ve used this anecdote before, so excuse me if you’ve already heard this.  But it’s handy to trot this out from time to time to make a point.

I was at a meeting several years ago where there was grumbling about the state of the economy.  Someone asked what was needed and the response was “jobs!”  Any specific type of jobs?  And the response was again “jobs!”

Like anything else, there are layers and nuance to the sustenance of the economy, whether it’s global or here in our backyard.  We deal with many of the same challenges my colleagues around the world do on a daily basis.  I serve on the Board of Directors for the Northeastern Economic Developers Association, which covers 11 states and the District of Columbia. At our quarterly meeting last week, I heard many of the issues that we wrestle with here, from workforce development concerns to energy costs.

But we also shared the regional quirks from our various home bases.  Since we just came off an election in November, it was interesting to hear how “economic development” is inherently so politicized, both as an issue that government wants to enable, but also in the other areas that directly impact the ability of businesses to survive and prosper.

In Vermont, we are in regular communication with our companies and hear about the challenges they’re facing.  Some issues are beyond our control, to a point, like transportation (we’re not going to have an international airport in our region, although we do have Hartness State Airport, which is a great resource!).

However, there are others where there is a direct interface with public policy in the state.  Land use and permitting come to mind, as there’s an understandable desire to protect the “Vermont” we all love, but occasionally that collides with the need to build or expand a facility to provide the “jobs” that are needed.

Sometimes, I’m putting out fires where a public regulator is a little too gung ho in implementing and administering rules and treats the customer/ businessperson in a less than appropriate manner.

Or it’s trying to find that balance on an important issue like Health Care or Education and figuring out how to ensure that the residents of the state have the highest quality possible. While, at the same time, developing a way to pay for it that is sustainable and allows Vermont companies to remain competitive in the global marketplace.

The Legislature will be back in session shortly and they will be working on these, and many other, issues.  But, it’s important for all of us to help them remember that, while all of us want “jobs!” it’s critical to truly understand what is necessary for that to happen and appreciate what it already preventing that from occurring on a larger scale.  As well as ensuring that, just like our friends in health care, they “do no harm” in whatever laws are enacted.

Many thanks for your continuing support of SRDC this past year!  There’s a lot in the hopper for 2015 and we look forward to sharing more good news with you in the coming year.   Happy Holidays to you and your families!

December 4, 2014

Springfield Group Purchases Assets of Trout River Brewing, Opening Brewery at One Hundred River Street

Filed under: SRDC — admin @ 10:20 pm

A group of Springfield-area entrepreneurs, Vermont Beer Shapers, announced that they have purchased the brew recipes, equipment and name of Trout River Brewing Company of Lyndonville.  They will be opening their brewery in the One Hundred River Street facility in downtown Springfield Vermont.

Vermont Beer Shapers is a local company created by Trevor Billings, Gabe Streeter and Kelen Beardsley, who have been interested in developing a brewing business for some time.  According to Beardsley, this was an opportunity to purchase an existing Vermont brand. “Trout River is an established name in Vermont and is known for great beer.  We’re looking forward to continuing the traditions of the brewery, while working to make it our own”.

Beardsley said that equipment has been moved to Springfield and work will be starting soon on renovations for the new brewery space. He said that they hope to have the new facility up and running this winter. Initially, the focus will be on the production and distribution of beer.  There is the potential of a tasting room or even a brew-pub in future years, he added.

Claremont Savings Bank provided the financing for this project. Beardsley added that Vermont Beer Shapers also appreciated the help they received for their efforts from Springfield Regional Development Corporation and their Small Business Development Center. Beardsley Stated “There was a tremendous amount of support from the local community to help us with this project, we are extremely excited to bring this business to our hometown”.

Trout River Brewing was started in 1996 by Dan Gates.  Terms of the sale were not disclosed.

November 24, 2014

Photos from SRDC’s Annual Meeting

Filed under: SRDC — admin @ 3:38 pm

SRDC held its Annual Meeting on November 18, 2014 at the American Legion Post 67 in Chester, Vermont.

Al Gobeille, Chair of the Green Mountain Care Board, shared his observations about the status of health care reform and the continued need for additional measures to attempt to control the costs of care in the state.

SRDC Project Manager Paul Kowalski gave an update on the CDBG-DR program, which has provided grants to area business impacted by Tropical Storm Irene.  Executive Director Bob Flint reported on a variety of SRDC’s efforts over the past year, including the current status of the former J & L Plant 1 and Bryant Grinder properties.

For pics of the event - http://on.fb.me/1zm0S1D

October 17, 2014

Workshop on Protecting Intellectual Property, Nov. 13 in Springfield

Filed under: SRDC — admin @ 7:44 am

Do you have an idea or innovation you’re preparing for the marketplace? Learn how to protect it during a free workshop on Thursday, Nov. 13 at the Howard Dean Education Center in Springfield. The session is from 10 a.m. to noon and will focus on “How to Protect Your Intellectual Property.”

This is the second of two workshops being held in Springfield to help innovators who are creating new technologies and need the know-how to bring their ideas to market. It’s being co-sponsored by the Vermont Small Business Development Center (VtSBDC) and the Springfield Regional Development Corporation.

Scott Holson, VtSBDC’s technology commercialization advisor, will talk about the various forms of intellectual property protection, how to determine if your innovation should be patented, and the steps involved in the process.

“I encourage anyone to come to the intellectual property workshop who is interested in gaining an understanding of trademarks, copyright, trade secrets and patents,” he says.

Following the workshops, Scott is available to provide free one-on-one advising on starting a business or selling an innovation, and creating a plan to make it happen.

The VtSBDC workshops are available thanks to a $95,000 grant from the U.S. Small Business Administration that’s helping Vermont businesses compete on a national level for research and development opportunities.

To register for the workshop or to learn more about the Technology Commercialization Program, visit vtsbdc.org/commercialize or contact Scott Holson at sholson2@vtsbdc.org.

October 7, 2014

Free Workshop for Local Entrepreneurs, Oct. 14 in Springfield

Filed under: SRDC — admin @ 9:24 am

On Tuesday, Oct. 14th, the Vermont Small Business Development Center (VtSBDC) and Springfield Regional Development Corporation (SRDC) are hosting a free workshop for regional businesses and entrepreneurs. The session, which will focus on How to Commercialize Your Idea, is being held from 10 a.m. to noon at the Howard Dean Education Center in Springfield.

This is one of two workshops that will be held in Springfield to help innovators who are developing new technologies and would like to learn how to bring their ideas to the marketplace. Scott Holson, VtSBDCs technology commercialization advisor, will talk about the process of bringing an idea to fruition and locating funding through a variety of grant programs.

“I encourage anyone to come to the commercialization workshop who is interested in better understanding the steps to take to reduce or completely eliminate the valley of death often spoken about when starting a new company”, he says.

Following the workshops, Scott is available to provide free one-on-one advising in making grant submissions, applying for research and development funding, and succinctly presenting your business case.

The VtSBDC workshops are available thanks to a $95,000 grant from the U.S. Small Business Administration thats helping Vermont businesses compete on a national level for research and development opportunities.

To register for the workshop or to learn more about the Technology Commercialization Program, visit vtsbdc.org/commercialize <http://vtsbdc.org/commercialize> or contact Scott Holson at sholson2@vtsbdc.org <mailto:sholson2@vtsbdc.org>.

October 1, 2014

Supplying the Fuel For the Engines of the Regional Economy – Our Workforce Challenges

Filed under: SRDC — admin @ 10:10 am

(This column by SRDC’s Bob Flint appears in the Fall SRDC Newsletter - http://conta.cc/1vuxip2)

Those of you that know me pretty well know that I’m generally an optimistic person.  I try to maintain a sunny outlook and try to look at the glass as “half-full”.

But even I have my days when that’s not the case.  I was in one of those funks recently, which probably had to do with spending too much time wallowing in the muck that is the world of “brownfields”.

However, spending some time on business visits last week perked me back up and reminded me of what’s really important with our regional economy – helping our existing companies continue to thrive and prosper.

It was refreshing to see how many businesses are doing well at the moment!  Orders are coming in and workflow appears to be very steady.  You can feel the energy in several of the places I stopped at recently.

But I did consistently hear about one major concern that threatens this positive trend – the challenge in finding qualified employees.  We have heard for some time about the occasional difficulty in attracting middle-upper management talent to our region, but there’s a new urgency to those conversations.  What’s even more startling is the need for entry-level workers.

There are a number of resources locally and in the state to help provide training opportunities for the existing workforce, as well as for those looking to find a job.   The Vermont Training Program has recently undergone a makeover and is now positioned to help more employers than ever!  Please contact us to learn more about your company could benefit from a VTP grant.

The real problems, however, are nuanced and complicated.  There are socio-economic challenges that are beyond anything this region has seen before.  SRDC is working with area partners, from the WIB to the RPC and AHS, and many others, to have the necessary conversations and start to build consensus on what tools are needed to address these issues.

The heartening thing is that there are a number of quality employers that serve as the hub of a still-thriving area economy.  We thank all of you for continuing to do business in Vermont and in Southern Windsor County.  And, we appreciate your continued support as we work to develop an even stronger workforce that can be the fuel for the engine of economic development in our area.

September 25, 2014

Black River Produce Co-Founder Mark Curran Honored for Good Business Practices

Filed under: SRDC — admin @ 3:18 pm

On Tuesday, September 9th, nearly 150 members and friends of Vermont Businesses for Social Responsibility (VBSR) came to Shelburne Farms for an event in honor of Mark Curran, Co-founder of Black River Produce and winner of the 2014 VBSR Terry Ehrich Award for Excellence in Socially Responsible Business. The sold-out dinner and award ceremony was a celebration of local food, relationships, and socially responsible business practices.

““We were thrilled to be able to honor Mark this with award”,” noted VBSR Executive Director Andrea Cohen. Named for the late owner of Hemming’s Motor News and a founding member of VBSR, the award is given to a VBSR member who best exemplifies Terry Ehrich’’s commitment to the environment, workplace, progressive public policy and community. “”Mark, and his business partner Steve Birge, have worked hard to grow Black River Produce in a sustainable way. They have been instrumental in supporting our local food movement and have taken a number of steps to reduce their carbon footprint and increase their energy efficiency while growing quality jobs in our state.”

Chuck Ross, Secretary of Vermont Agency of Agriculture, Food and Markets opened the award ceremony by discussing the importance of Vermont’s local food economy while highlighting how much Black River Produce has done to further that mission. After glowing remarks from VBSR Board Vice Chair, Chris Miller of Ben & Jerry’s, Mark spent a few minutes discussing how his upbringing shaped him into the business person he’d become. Curran explored how far his company has come (opening a new meat processing facility), how they had grown sustainably (reinvesting in the company), and how they practice social responsibility (supporting local farmers, utilizing renewable energy and biodiesel trucks). Curran also took time during his address to thank and highlight the leadership and vision of his business partner Steve Birge. Attendees expressed their appreciation of the moment by honoring both Mark and Steve with a standing ovation.

(Photo courtesy of Tasha Wallis)

September 11, 2014

Public officials, business leaders and cybersecurity experts gather at Norwich on 9/22 with FTC Commissioner Julie Brill as the featured speaker

Filed under: SRDC — admin @ 9:17 am

The National Cyber Security Alliance (NCSA), a non-profit public-private partnership focused on helping all digital citizens stay safer and more secure online, is coming to Vermont with its STOP. THINK. CONNECT. Two Steps Ahead: Protect Your Digital Life Tour to educate consumers and businesses about adding layers of security to their everyday online activities.

The event being held on September 22nd from 9-11am at Norwich University’s Milano Ballroom is part of a ten-city tour to spread the word about activating security features available on many of the web’s most popular sites. Commissioner Brill will open the event with remarks, and the morning will feature a hands-on demonstration showing attendees how to step up their security on sites like Google, Facebook, Microsoft, LinkedIn. The event also includes a panel discussion with representatives from the Better Business Bureau Serving Eastern MA, ME, RI & VT, FBI and Norwich University.  Concluding the event will be a live demonstration by students in the Center for Advanced Computing and Digital Forensics at Norwich University.

Recent publicized data breaches in the retail and other sectors and the Heartbleed open SSL vulnerability have shed the light once again on account security when passwords and other account credentials are lost.

Lack of consumer adoption of good password practices continues to create problems as well, as evidenced by the fact that “123456” and “password” have long been the top passwords in use. A Pew Research Center study indicated that last year 21% of Internet users (18 years and older) have had an online account compromised, such as a social networking account or an email account, and only 23% think their accounts are very secure.

The good news is more and more Internet sites are implementing additional security features that can help computer users add another layer of security to their accounts. These features go by many names – such as two-step verification, login approvals, and multi-factor authentication – and use a variety of methods, including SMS texts to a mobile device, or random one-time use password generators, but the goal is the same, allowing only authorized people to access an account.

Consumers still need to be vigilant about using strong passwords, because they are not going away anytime soon.  Users should follow the basic security advice to have long, strong and unique passwords.

“Making use of available security precautions like the emerging account security tools, where available, should be a starting point for staying safe online,” said Michael Kaiser executive director of the National Cyber Security Alliance. “Utilizing all available security measures and understanding the consequences of actions and behaviors online is the key message underlying the STOP. THINK. CONNECT. campaign.”

“The recent string of security breaches, which involve the release of sensitive information on a massive scale, illustrates why data security is a consumer protection priority for the FTC.  Our enforcement actions hold companies accountable for providing reasonable security.  We also work hard to educate companies and consumers about how they can protect consumer data. I am looking forward to discussing these efforts on September 22,” said FTC Commissioner Julie Brill.

The event will run from 9-11am and registration is open to the public free, but space is limited.

“We want to thank all our partners who are helping to make the event at Norwich a success,” Kaiser said.  The RDC’s of Vermont are one of the organizations that are sponsoring this event.

To register visit: https://twostepsvermont.eventbrite.com

To learn more about staying safe online and to find links to websites that offer additional account security visit: www.stopthinkconnect.org/twostepsahead.

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