Need A Bridge Loan? Help Is Close!

Keywords for this post:
Business Plans for SBA Loans

A top Small Business Administration official said the agency is “working as quickly as possible” to implement a new bridge loan program created by the economic stimulus legislation.

Through this temporary program, small businesses that are having trouble making payments on existing debt will be eligible to apply for loans of up to $35,000. These can be used to refinance principal and interest on existing loans. The SBA will pay the interest on the loan, and small businesses will have a year before starting to repay it.

These business stabilization loans will be offered through the SBA’s network of private-sector lenders. The agency will guarantee 100 percent of the amount of the loan.

Eric Zarnikow, who heads the SBA’s Office of Capital Access, said the agency still is working out the details of the program.

“It is a brand new program that needs to be built from scratch, including developing policy and modifying computer systems, so it will take a little bit longer,” he said.

The new loans can’t be used to refinance existing SBA loans - an exception that dismayed some advocates.

But this new program will go a long way toward helping existing businesses bridge this economic crisis. We are excited about it, and you probably are too.

What do you need to do now? Get your business plan in order. Be sure to demonstrate the payback program in your financials. Show them that you are worthy of their confidence.

There Is LOTS Of Money Out There

The fact that Essex Woodlands Health Ventures has closed its eighth fund at $900 million is not particularly important to most of us. In fact, it missed its $1 billion goal. But still amassed one of the largest amounts ever for a health care-only venture fund. And THAT is the important part.

There are millions of nay-sayers who claim that VC investment is dead, that private investors are all broke, that we are doomed. We Are Doomed. We Are DOOMED.

Well, we're not. Doomed, that is.

There is still lots of venture money out there. There are lots of people who have lots of money to invest in venture projects, and in angel investment projects.

When a venture fund focused on a single area, in this case health care, can pull together $900 million for a new fund, well ... that's good news for all of us.

No matter what your industry, there is likely potential investment there for you too. Go take a look. Go after it. The very worst that anybody can do is say NO, and you are already doing that by not putting your project out there.

Google's Venture Capital Fund

Keyword for this post:
Business plans for venture capital

While Google's announcement of its $100 million venture capital fund may be "THE" news of the day, it really isn't news at all.

On its website, google.com/ventures, Google Ventures said it was

...looking for entrepreneurs who are tackling problems in creative and innovative ways. As a venture fund, however, we're also looking for investments with the potential for significant financial return.

Well, yes, that is what venture capital firms look for. Google is no different. In fact, Google has invested in a variety of start-ups over the years including through its philanthropic arm, Google.org. Venture capital is nothing new to this company.

So why all the hoop-la? Publicity I guess. They want to prove that they are doing something to help small businesses.

Well, it is all a bunch of baloney as far as I can see. Venture capital firms are not philanthropic, and Google is no different. If your company happens to have a splendiforous idea (a one in a million chance), you might be able to get money from Google, or from thousands of other venture capital firms. In fact, if your idea is that good, get your venture capital business plan in order, and focus it to several VC firms. You could be in the enviable position of getting them to bid against each other.

$25,000 Business Plan Competition in Nebraska

Keyword for this post
Business plans

Attention, Nebraskans! Do you have a business dream?

Then it's high time to start working on your business plan, and get yourself in the running for a $25,000 cash prize from the Hormel Family Foundation that could help you turn that dream into reality.

This year's competition will take place on Friday, June 12th, at the Hormel Business & Technology Center on the McCook Community College campus. The winner stands to receive a $25,000 cash investment in exchange for a minority stake in his or her proposed or existing company.

The deadline for the competition is Wednesday, May, 27. Although the Hormel Family Foundation is not yet accepting submissions for this year's competition, interested entrepreneurs should begin preparing their submissions now, and check back often for updates. They will start accepting applications during the month of May.

The Real Skinny on International Protocol

Keywords for this post:
Strategic Business Plan

Country Insights, a site developed by the Canadian government, is absolutely priceless for anyone working with one or more foreign nationals. This Canadian federal government site is one of the best sources we’ve come across in a while for getting truly interesting insights into the culture of another country. It’s well-written, lively, and filled with insider and unusual information on factors ranging from displays of emotion from a country’s citizens, conflicts in the workplace, hierarchy and decision-making, formality, relationship building, and more. An interesting twist too is that this site compares each country’s cultural norms to those found in Canadian culture.

Although the perspective was written from the point of view of a business person going abroad, it is just as valuable for a business person working with a person from another country, no matter where they meet. Understanding the priorities of our colleagues may be key to bringing them on board, whether financially or as collaborators. Developing an effective strategic business plan may, in fact, depend on how well you know the people you will be working with.

Venture Capital Set To Flow In Minnesota

Keywords for this post:
Business plans

Minnesota is setting the stage for state-backed venture capital to flow to all kinds of businesses.

Local governments would recommend community small businesses under a proposed bill. The bill would create a revolving loan fund under a Minnesota Business Venture Capital Program administered by the state Department of Employment and Economic Development.

Under the proposal, local governments that have identified promising business proposals in their community would submit an application to DEED, which would administer the venture capital program. The application would detail the project and how the loans would support job growth in the community.

The department would then review the loan request, giving priority to projects that are:

~ Located in an area or a building that is in need of redevelopment or restoration.

~ Utilize federal stimulus money.

~ Reduce greenhouse gas emissions and dependency on fossil fuels.

~ Assist resident entrepreneurs and businesses to initiate or expand in a manner that creates sustainable jobs.

~ Support research and development of innovative, non-traditional uses of resources available in an area.

~ Integrate support services and businesses in a central location.

~ Reach out to certain populations that are underrepresented in the workforce.

The venture capital program would also target the low- or no-interest loans to parts of the state facing the most difficult economic hardship and high unemployment rates.

The revolving loan fund administered by DEED would involve a competitive grant process, she said. If a local unit of government has a project that it thought would be a good investment, in creating jobs and meeting the program criteria, it could submit an application to DEED which would review the loan request, giving priority to those that meet the criteria.

Calling for “green jobs” is one criteria, “but it doesn’t say that the project has to meet all of those things,” Olson said. “There’s just been a lot of emphasis there lately, and so I was trying to combine with that, to encourage moving in a direction that would help to enhance the other policies that we’ve already passed or would match up with some of the money in the federal stimulus or other money we’re expecting from the federal government.”

Some of it is targeted to under-represented areas, she said. “It’s targeted specifically toward areas that have the highest unemployment and relatively low household incomes,” Olson said, “so we can try to put this money where it’s really needed the most. Of course, that just happens to apply to a lot of my district.”

The program would see initial funding from the state’s general fund, but the bill doesn’t specify how much. That will be up to budget committees and legislative leaders, should it get that far.

“It offers a framework for an economic development stimulus plan, and if it would be funded this year really remains to be seen,” she said. “The big question is if there is going to be any money. … If we were really going to do this in a really effective way, and do it statewide, it could be many millions of dollars. … I could think of lots of good uses for even $1 million in my district.”

Note: The bill has not yet passed. If you reside in Minnesota, now is the time to contact your local state representatives to nudge it along! Then get your business plan ready for funding.

$2 Million in Venture Funds for Software Application

Keywords for this post:
Technology Business Plan

For savvy software developers, there is an opportunity lurking.

zanox, an affiliate network based in Germany, is kicking off their $2 Million Application Store Contest at the Web 2.0 Expo San Francisco, March 31 - April 3, 2009.

The contest, being held in conjunction with the M&A advisory company Corporate Finance Partners, will award the winning business model(s) an investment of up to two million US Dollars for the best monetizing application based on zanox Web Services.

zanox will also introduce the new zanox Application Store at the Web 2.0 Expo.

The zanox Application Store is a platform for developers to introduce and distribute their applications directly to zanox’s network of more than one million publishers and over 2,000 international advertisers.

The platform will hold more than 50 million product offers and can be retrieved automatically via zanox Web Services. The zanox Application Store was designed to help developers monetize their innovations, such as applications or widgets for the Internet and mobile, including the iPhone, Facebook and iGoogle, as well as all other platforms.

With this award in hand, set your sites on a technology business plan that skyrockets your company to success!

US Government Programs for Women

Keywords for this post:
Business Plans for Women Entrepreneurs

As far as the US Government is concerned, women are not a "minority" as "minority" is defined. However, due to the extreme difficulty women have had capturing US government contracts and tapping small business sources, the government has established several programs to help out. Here are the major ones:

National Women's Business Council: The NWBC is a bi-partisan federal advisory council that serves as an independent policy advisor to the President, Congress and the SBA on economic issues of importance to women business owners. You'll find research, news, and conference and event listings on the site.

Women-21.gov: This site is a joint effort of the Department of Labor, the SBA and other partners. It brings together resources, articles, news, networking opportunities for women entrepreneurs. Unfortunately, this site has been inactive for a couple of years now.

WomenBiz.gov: This site is the gateway for women-owned businesses selling to the government. It has useful links, event listings, and a step-by-step guide to government procurement.

Office of Women's Business Ownership: OWBO is a part of the SBA. Each SBA district office has a women's business ownership representative and there are women's business centers in nearly every state. OWBO also offers business training and technical assistance programs; provides access to credit and capital, federal contracts and international trade opportunities; and provides a nationwide network of mentoring roundtables. At OWBO's Online Women's Business Center, you can find lists of local reps and offices, as well as the business management information the SBA provides.

The key to using many of these resources is to go in prepared. Having constructed a business plan for women, one highlighting your unique skills and contributions, will go a long way to preparing you for working with the US Government.

Hark! Get Ye The Measure of Success

Keywords for this post:
Business plans

"All else being equal, a venture-capital-backed entrepreneur who starts a company that goes public, has a 30 percent chance of succeeding in his or her next venture. First-time entrepreneurs, on the other hand, have only an 18 percent chance of succeeding, and entrepreneurs who previously failed have a 20 percent chance of succeeding, according to researchers at Harvard Business School."

I ran across this quote recently. Good grief, Harvard, you should know better than that. This is a bunch of garbage. This was a fancy article, using lots of fancy words. But not once did the article talk about whether or not the business supported the entrepreneur for any length of time. Not once did it mention if the business had changed names or relocated or been sold out, three indicators of "failure" that aren't failures at all.

And not once did the article mention how much happier independent businesspeople are than those in corporate America. And THAT is the most telling stat of all.

I haven't seen a survey for a while now, but every single time I see one, it reports that entrepreneurs are happier than their corporate counterparts, no matter what level of "success" they enjoy, no matter what industry they are in.

Harvard's obsession with bottom line success ignores the real successes of small business. Get your act together, Harvard. You are part of the reason for the Ethics of Wall Street that have nearly brought this country down. Maybe you should re-evaluate who a "success" really is.

New Biotech Venture Capital Fund

Keywords for this post:
Business plans for venture capital

Merck Serono, a division of Merck KGaA, Darmstadt, Germany, announced today the formation of 'Merck Serono Ventures', a strategic, corporate venture capital fund to invest in emerging biotechnology companies. The fund will support biotech start-up companies that have the potential to provide innovative products in Merck Serono's core therapeutic areas, in particular in Neurodegenerative Diseases, Oncology and Autoimmune & Inflammatory Diseases. Merck Serono Ventures also will target companies developing innovative technologies that could enable the discovery and development of new products in Merck Serono's core therapeutic areas.

Merck Serono Ventures has an initial commitment to invest up to EUR 40 million during the next five years

"Biotech start-up companies are an important element in scientific innovation," said Bernhard Kirschbaum, Executive Vice President of Research & Development at Merck Serono. "Merck Serono's venture capital fund will provide the opportunity to support scientific excellence in our core fields of interest and provide start-up companies with the opportunity to interact early on with our organization."

Kick Start Your Small Business Funding Search

Keywords for this post:
Business Plans for SBA Loans

We hear constant complaints about "no money, NO money!". Well, let me tell you, it just ain't so. There IS financing available for a lot of projects. Don't believe me? Here, check out this nifty search tool: Search for loans/grants .

Is that cool, or is that cool. No, you won't qualify for many of the programs. But you don't need to. You just need to find the ONE that is The Best Option for you to pursue at this point in time.

Then go in prepared. Have a business plan set out, with full payback schedule, and go talk to the people in charge. Talk to all the people you can tie down for a five minute conversation. Banks and governments aren't always easy to work with. So plan on really digging for the right people to talk to. Then go for it. You've got a better chance than most people because you are really working for it, not sitting back complaining.

The money is there. Honest.

SBA - Answers, We've Got Answsers!

Keywords for this post:
SBA

The US government has so much information, so many programs, so much STUFF that it is simply mind boggling. The Small Business Administration is no easier to navigate, in spite of major overhauls to their website.

So now there is a solution: The message board at the SBA!

Honest. Post a question. Not all the questions get answers, but many do. Individuals are allowed to respond to questions, and I expect there are moderators floating about as well. Check out loan programs, contracting, registering with the US government, the stimulus package, and bunches more.

SBA Emerging 200

Keywords for this post:
SBA business plans

The SBA has been looking for the small businesses that will lead inner city development. The goal of the SBA Emerging 200 initiative is to identify 200 inner-city businesses across the country that show a high potential for growth—and to provide them the network, resources and motivation required to build a sustainable business of size and scale within a designated inner-city geographic location.

SBA is increasing outreach to areas historically challenged by high levels of unemployment and poverty. Bolstering entrepreneurial success in these areas will generate new jobs, attract investment, and provide a more sustainable economic base in distressed areas. Current efforts also include a program to improve access to credit to small businesses located in rural areas. The SBA Emerging 200 initiative will enable the participating small businesses to engage in an intensive curriculum focused on developing a winning, expansion strategy for their business, including options for capital access and contracting. Participants also will have the opportunity to work with experienced mentors, attend workshops and develop connections with their peers, city leaders, and financial community.

If you should have a business -- or potential business- that might affect the inner city development in the following areas, contact your local SBA office to find out more. Many areas already have a "graduating group" and are now searching for the next group of potential businesses.

• Denver, CO (SBA Colorado District Office)
• Jacksonville, FL (SBA Jacksonville District Office)
• Atlanta, GA (SBA Georgia District Office)
• Des Moines, IA (SBA Des Moines District Office)
• Chicago, Il (SBA Illinois District Office)
• New Orleans, LA (SBA Louisiana District Office)
• Boston, MA (SBA Boston District Office)
• Baltimore, MD (SBA Maryland District Office)
• Detroit, MI (SBA Michigan District Office)
• Albuquerque, NM (SBA Albuquerque District Office)
• Portland, OR (SBA Oregon District Office)
• Philadelphia, PA (SBA Philadelphia District Office)
• Memphis, TN (SBA Tennessee District Office)
• Dallas, TX (SBA Dallas / Fort Worth District Office)
• Milwaukee, WI (SBA Wisconsin District Office)

If You Are Looking for Innovation ...

Keywords for this post: business plans

BusinessWeek is usually a good read. This week is no exception. I confess to being old fashioned, and I prefer the hard copy edition. When I settled down in my comfy chair this week, my eyes got glued to all the great innovative ideas they had come up with. I had seen some of them before, but seeing them all in one edition was an eye popper. Things like:

Walt Disney's mentorship program teams newbies with old timers. The newbies teach the old timers about emerging technology; and old times teach the newbies the ropes. Great results. And it trains the next generation of leaders very effectively.

Technology that will allow companies to track suppliers' product liability issues through its manufacturing process.

A budget cutting committe that excluded top management.

Best Buy takes employees out of their regular environment and has them spend up to ten weeks in total immersion together, living together, thinking together, inventing together.

Cisco has created multiple "headquarters" to emphasize its global reach.

Stuffy old IBM sends employees on Peace Corps - like jaunts to underdeveloped countries. They had over 5,000 applicants for 300 positions.

Zappos is notorious for its open management style, even setting aside desks for suppliers and openly sharing all stats and financials with them.

Creating shareholders out of fabric weavers in India, helping some earn over $100,000 a year.

Some of it is really scary, like measuring employee's effectiveness via computer. (I'm sorry, but computers still cannot measure good will.)

There was lots more. It is so refreshing to see so many great ideas flourishing, even in challenging economic times, that I just had to share this with you. Read it. It will lift your spirits.

SBA Loans -- The Floodgates are Open!!

Keywords for this post:
SBA loans

Whether your business is "green" or "techy" or "stem cell", or none of the above, today's press conference with President Obama, Secretary Geithner and others was the trumpet call that we've been waiting for. In fact, one of the featured speakers was a restaurant owner from Philadelphia who had a "natural foods restaurant" (yes, coming from Philly, it was noted that this is a contradiction in terms - lol).

Here's the bottom line. Banks, especially smaller banks, cannot lend via the SBA loan program because they have no money. What they do have is a pile of SBA loans that were previously granted. They used to be able to sell those SBA guaranteed loans in the secondary market, but that market has totally dried up. So the smaller banks are stuck with the loans, and no more money to loan. It's not that the loans in their portfolios are bad. Odds are, they are pretty good. But the secondary market just doesn't exist any more.

The solution: The government is stepping in and buying up millions and millions and millions of dollars of these SBA guaranteed loans. Heck, the government guarantees them anyway, so the government might as well own them. What this effectively does is give small, community banks money on hand that they can now loan out to new businsseses via the SBA loan guarantee program. The bank can buy those loans, etc., etc., and the lending cycle begins.

The floodgates are open. Business loans will start flowing again. Hallelujah!

One of the nicest parts of this program is that it likely won't cost the government a dime. These are LOANS, not GRANTS. Loans are repaid, with interest. Historically, SBA loans have been pretty secure, and there is no reason to doubt that the current bunch aren't just as secure.

So business wins. Business owners win. Banks win. And the government wins.

It just doesn't get any better than that.

The Stimulus Flies Into Main Street

Keywords for this post:
Business plans for SBA loans

A lot is already being accomplished with the stimulus package.

For example, the Obama administration has already begun injecting billions of dollars into the economy from its $787 billion fiscal stimulus plan, through grants to state education and crime-fighting programs, Medicaid efforts, and transportation projects. Most workers will see small increases in take-home pay in their first April paychecks when withholding allowances are adjusted to reflect the Making Work Pay tax cut. The president's housing plan funnels $275 billion to U.S.-owned mortgage giants Fannie Mae and Freddie Mac to assist in lowering the interest rates of struggling homeowners while enticing loan servicers to restructure still more mortgages.

But the hundreds of billions of dollars being sent to such business behemoths as Citigroup Inc., General Motors Corp. and American International Group Inc. have rankled many voters who have failed to see an equivalent concern for small-business and Main Street suffering.

The Wall Street Journal announced today that the Obama administration is poised to pour billions of dollars into Main Streets across the country to boost the energy and viability of smaller businesses.

We already know about the $730 million from the stimulus plan that went to the Small Business Administration to reduce small-business fees and guarantee a greater share of some SBA loans. The Obama budget would authorize the SBA to support $28 billion in lending guarantees.

In what appears to be an expansion of those efforts, Mr. Geithner said yesterday that the Obama administration will launch a plan next week that will provide financing, liquidity and guarantees to open up small-business lending, which is seen as a crucial element of economic recovery.

The size of the program is unclear, but it will come in addition to the Term Asset-Backed Securities Loan Facility, or TALF, which government officials hope will generate up to $1 trillion of lending for businesses and households.

Mr. Geithner's Monday briefing followed his Feb. 10 announcement that the administration was working on a "small-business and community-bank lending initiative" that would have several components. It would finance the purchase of highly rated Small Business Administration loans, increase the government guarantee for SBA loans, and reduce the fees on certain SBA loans, among other things.

The small-business lending plan is part of a concerted effort by the Obama administration to ensure that the new government programs aid Main Street as well as Wall Street, a Treasury official said.

With the entire economy so dependent on the viability of our small businesses, this assistance comes none too soon. There are literally hundreds of thousands of small businesses that deserve assistance very bit as much as BigCo, and now they have a chance of getting it. Hallelujah!

Resources for Veterans

Keyword for this post:
Business plans for veterans

There are a lot of places for veterans to begin looking for assistance. Here are a few:

www.military.com
www.vetjobs.com
www.publicforuminstitute.org
www.commerce.gov
www.hirevetsfirst.gov
www.hirevestfirst.gov/smallbizown.asp
www.dol.gov
www.ssa.gov/emergency
www.ssa.gov
www.sba.tmonline
http://www.aptac-us.org/new/
www.nchv.org

Oregon's Vets Get Zero Percent Business Repair Loans

Keywords for this post:
Business plans for Veterans

The Oregon Department of Veterans Affairs (ODVA) is offering a zero interest small business repair loan to help veterans get their businesses back on track.

The program, aimed directly for National Guard and Reserve veterans, is designed to help veterans whose businesses suffered setbacks during their deployment, and to help them recover their businesses when they return home, so they are employed and can employ others.

The Small Business Repair Loan program offers a zero-percent interest rate and loans up to $20,000. Applicants must be honorably discharged veterans, own 51 percent of their businesses, and the businesses must have had a setback when the veterans were deployed.

Qualifying veterans must apply for this loan within one year of returning from deployment.

For more information on the Small Business Repair Loan, please contact ODVA at 888-673-8387 or 503-373-2070.

Marketing a Small Business to the Dept of Interior

Keywords for this post:
SBA loans

With billions of dollars poised to be let in contracts, it is a good idea to take a look at how to promote to government agencies.

Actually, marketing your company to a federal agency isn't a whole lot different than creating a business plan. First find the need. Then demonstrate why company is the best one to fill that need. Accentuate your experience and expertise. Promote your key people.

CHECK OUT OSDBU

The Office of Small Disadvantaged Business Utilization (OSDBU) at the Department of Interior provides outreach and assistance for procurement, contracting opportunities, and guidance to the Interior’s contracting and management officials on small businesses, small disadvantaged, womenowned, service-disabled and veteran owned businesses and businesses located in Historically Underutilized Business Zone (HUBZone) areas.

In seeking contracting opportunities with DOI, the OSDBU office expects you to focus on how your company can relate to the mission of the department, which is to:

• Protect the environment and preserve our nation’s natural and cultural resources;
• provide recreation for America;
• Manage natural resources for a healthy environment and strong economy;
• Provide science for a changing world;
• Meet our trust responsibilities to Native American Tribes and our commitments to Island communities.

In marketing your small firms to the Department of Interior, your capability statements should reflect how your company can assist DOI in fulfilling this mission.

MARKETING YOUR CAPABILITIES

Prepare detailed capability statements/ brochures for distribution to agencies (include NAICS codes).

Be specific in describing the capabilities of your firm.

Indicate prior experience, prior government contracts, references, etc.; and if you have multiple skills, market those of which a particular agency buys the most.

To bid on federal contact opportunities, your firm must be registered in the Central Contractor Registration database at http://www.ccr.gov. or via the Business Partners Network at www.bpn.gov.

BPN has a link that will connect you with the CCR.

Since federal contracting opportunities are posted on fedbizopps (www.fbo.gov), to access, review, and search for solicitations which your company can perform or fulfill, your firm must be registered in the CCR to gain access to fedbizopps.

RECOMMENDED VENDOR MARKETING TECHNIQUES

Become thoroughly familiar with the federal agencies, their components, their missions, and how these are accomplished. Today’s websites achieve this by providing information about agencies missions, their components, business/ contracting opportunities and staff.

HELP FOR MINORITY BUSINESSES, AND VETERANS

Learn as much as possible about the federal acquisition system by reviewing information on the Acquisition Reform Network @www.arnet.gov and SBA’s website. If you need assistance in understanding acquisition terminology, processes, polices and procedures; or if you need assistance in understanding how to navigate through the federal contracting arena, remember the Office of Small Disadvantaged Business Utilization staff can assist you. There are OSDBU staff in each federal agency ready to assist you and answer your questions.

HELP FOR EVERYONE

Other resources that can assist you with federal government contracting opportunities are the Procurement Technical Assistance Centers or PTACs.

PTACs can help with pre- and post contract compliance, help identify what federal agencies purchase
and their acquisition staff, and help with understanding Federal Acquisition Regulations. For a listing of PTACs locally visit, www.ptac-us.org.

Above all when marketing your small business to DOI or any government agency, don’t hesitate to
ASK QUESTIONS! For a listing of DOI’s OSDBU small business staff
visit http://www.doi.gov/osdbu/SBS_by_Bureau_Sep_4_08.xls.

What The Stimulus Package Can Do For Your Business

Keywords for this post:
SBA Business plans

The $787 billion economic recovery package enacted by the Obama administration will deliver needed financial aid and tax relief to a lot of businesses. The key is to keep an eye for the specific programs and provisions that will help your company. For example:

• There are no grants. Money will come via contracts and tax credits. Not grants.
• What the recovery package will offer is a mix of tax breaks, government contracting opportunities, SBA-underwritten loan programs and more that could benefit all types of enterprises.
• The tax benefits include allowing business losses to be carried back five years instead of just three years, providing greater potential tax savings. There is also a tax credit for hiring disadvantaged workers or U.S. military veterans.
• A lot of opportunities are coming up in government contracting. All sorts of businesses may supply goods and services to government recovery programs, but especially those in construction, data management and systems engineering might benefit.
• There are a number of changes expected shortly in SBA-guaranteed loan programs.
• In order to encourage banks to make more such loans, the SBA will back 100 percent of many types of loans, those which currently are guaranteed only up to 85 percent.
• Also, SBA loan fees will be greatly reduced or simply dropped.
• Still in the works, too, is a business stabilization loan, designed to bring relief to businesses with short-term cash-flow problems. For example, if a company is falling behind on an existing loan, this program would guarantee 100 percent of a conventional bank loan up to $35,000 and allow borrowers to defer any payments for up to a year.

WHAT BUSINESSES SHOULD DO NOW:

Prospective contractors should visit www.stimuluswatch.org/project/ - a nongovernmental Web site that lists so-called "shovel-ready" projects, compiled by the U.S. Conference of Mayors last year in anticipation of a federal stimulus package. The site is searchable by keyword, type of program or location and invites visitors to give a thumbs up or thumbs down on each project.

Businesses should also enroll at the federal Central Contractor Registration - www.ccr.gov - a primary database used by federal agencies to find and verify contractors.

And, naturally, keep in touch with local government representatives to find out what is coming down the pike.

New Venture Capital Fund in the UK

Keywords for this post:
Business plans for Venture Capital

It is always good news when a new venture capital fund is established, and that has just happened.

UK angel investors Andrew and Robert Rickman have set up a new venture capital firm, the Rockley Group, and a €100m fund.

Known as the Rockley Follow-On Fund, it will have a remit to invest in established, high quality technology companies in the UK that are well-placed to weather the recession. The fund will focus on the energy, sustainability, ICT, new media, data management and healthcare sectors and invest around €5m to €15m per deal. With a target of €100m, the first close is expected to take place in the summer of 2009 on €50m.

The Rockley Group is also planning to raise a complementary sister fund to focus on investments in technology companies with a proven track record which are located overseas.

Business Plan Competition in Manila

Keywords for this post:
Business Plans

What: 2009 Best Best Business Plan Competion

Who is eligible: Undergraduate college students, young professionals and entrepreneurs below the age of 40 are invited to join the 2009 Best Business Plan Competition

Sponsored by: Junior Chamber International (JCI). Manila Jaycees Inc., in cooperation with the Zugbuana Jaycees, is bringing once again the competition to motivate the participants to compose a business plan that involves a significant impact to society.

The most innovative, most viable and most feasible business concept from the region will go on to compete in the national level the winner, will qualify for the world competition.

For three straight years in 2004, 2005 and 2006, the Philippines’ entry to the World Congress bested 100 other entries from different countries.

The deadline of submission of entries is on April 30 at 6 p.m. The regional finals will be held on May 16.

For mechanics and guidelines, please contact Zugbuana project chair Shelah Dychangco at (0920) 9199978 or co-chair Margaux Herrera at (0906) 4976071.

For more details, please visit www.bestbusinessplan.ph .

Let's Go Play

Keywords for this post:
Venture capital business plans

The Venture Capital News blog recently reported on the changing games industry. Game and virtual world investments soared to $885 million in 2008, but the picture is likely to be a mixed one this year. Games are one of the few industries still growing at retail (13 percent in January), and online games are still a hotbed of entrepreneurial activity.
Tim Chang, a principal at Norwest Venture Partners to get his take on those questions.

Chang is is a principal at Norwest Venture partners where he focuses on digital media, mobile, and Asia Pacific investments. He’s been involved in venture capital for more than a decade, both at Norwest, which he joined in 2006, and at Gabriel Venture Partners.

Chang said that the parts of the game market that are cooling off include the in-game advertising market. In-game ad company Massive, which inserts ads into scenery in games (in billboards, for example), scored big in 2006 when Microsoft bought it for an estimated $400 million. That started a stampede toward in-game ads, culminating with Google eventually buying Adscape and entering the in-game ad market last year for casual games. While that market is still going strong, investment in such companies is tapering off, as it settles into a bigger market with players such as Microsoft’s Massive, Google, Double Fusion and IGA Worldwide.

By contrast, one sector that’s still in its peak hype cycle is social games. Players in this category include Social Gaming Network, Zynga and Playfish. Other hot categories include mobile payments for games, virtual goods, and what Chang calls white-label engines that fulfill functions such as software-as-a service for virtual worlds. Still other hot areas include engines that make it possible to play games with high-quality 3-D graphics on web browsers. Companies in that category include Unity and InstantAction.

In an era of worldwide economic crisis it is hard to believe that venture capital business plans based on game playing are doing so well. Perhaps this is a lesson for our times: Take your mind off your troubles and go gaming.