2008 NEWS
Statewide partners introduce rural entrepreneur fellowship program
South Dakota Rural Enterprise, in partnership with development organizations
throughout the state, has announced a new program aimed at assisting business
innovators committed to developing their skills and growing their businesses. Dakota
Rising seeks to cultivate entrepreneurs, strengthen businesses and sustain South Dakota
communities. The program offers strategic partnerships with local communities to
invigorate rural entrepreneurs and their enterprises.

Rural communities will be selected to collaborate with this innovative program. Each
site will be chosen based on its history of collaboration and community investment,
evidence of a pool of potential entrepreneurs, and the presence of local citizen
leadership willing and qualified to grow the entrepreneurial culture of their community.
Each selected site will receive:
   • A $5,000 grant renewable annually for three years to be used to build a strong
     local network to support entrepreneurship.
   • Participation in a statewide learning community working together to share best
     practices around entrepreneurship cultivation.
   • Access to more intentional, specialized resources to foster local entrepreneurship.

Once sites are selected, they will partner with Dakota Rising to encourage local
candidates to apply for the Rural Entrepreneur Fellowships. Candidates, whose
businesses must be located within the community and be beyond a start-up phase of
For more information, contact Beth Davis at 605-978-2804.
development, will be required to submit a business and a professional plan for
development. Applicants will be selected based on a history of action-oriented risk
taking, an excitement to learn and grow, the feasibility of the business and a strong plan
for growth. Winning candidates will receive:
   • $10,000 to be used for professional development and business growth.
   • Access to a Fellowship community of rural South Dakota entrepreneurs focused
     on growing their businesses.
   • Access to mentors, professional development, a peer advisory board, and
     ongoing focused, industry-specific technical assistance.

Dakota Rising is administered by SD Rural Enterprise in partnership with SDSU
Cooperative Extension, SD Governor’s Office of Economic Development, SD Small
Business Development Centers, Northeast Council of Governments, East River Electric
Power Cooperative and the REED Fund, Oweesta, EQUIP and the Enterprise Institute.

Rose Jaspersen, Nebraska Microenterprise Partnership Fund's Executive Director participated in design meetings for Dakota Rising.  She will be assisting with the selection process later this year.
 

Mother and daughter kick off New Year with new business
HOLBROOK, NEB. (January 15, 2008)—While most families ushered in the New Year with parties and merriment, the mother-daughter duo of Carol O'Connell and Christi Anderson celebrated their new year by opening the Red Shed, a specialty gift shop.

Located 7 miles north of Holdrege on Highway 183, the renovated building showcases O'Connell's collectible dishes and primitives and Anderson's original and creative hand-painted art pieces in grand style. The entrepreneurs’ goal is to provide as stress-free and unhurried a shopping experience as possible where one-of-a-kind pieces can be purchased. As the in-house artist, Anderson is able to personalize gifts, including wine glasses, toasting glasses, and plates.

Both women’s unique abilities and experience are well-served through this joint venture. Anderson had operated her own business, Creative Hand, for the past four years. O'Connell also has business experience. Nearly 20 years ago, she made candles and sold them at a holiday store "Candles and More" in Holdrege, which featured 16 different crafters and bakers. When her daughter recently decided to expand Creative Hand, O'Connell was more than willing to help. First, they attended an EDGE (Enhancing Developing and Growing Entrepreneurs) class in January 2007. Anderson had learned about the EDGE class through an email bulletin from GROW Nebraska, of which she’s been a member just prior to beginning Creative Hand. The next step was to renovate the building that would house their future joint business.

This kind of expansion is just what GROW Nebraska lists as a primary goal according to Janell Anderson-Ehrke, GROW Nebraska CEO.

“We focus on developing and assisting Nebraska entrepreneurs so that we can help the Nebraska economy,” Anderson-Ehrke said. “Successful GROW Nebraska businesses not only financially help individual owners, but also the communities in which the businesses are located.”

GROW Nebraska has recently undergone its own expansion. In November, the organization opened a year-round GROW store in the Kearney Hilltop Mall. They also started an e-commerce site and will launch an eBay GROW store yet this month.

“We’re constantly searching for new avenues for connecting our GROW members to the global market,” Ehrke said.

A program of Central Plains Foundation Inc., GROW Nebraska helps maximize the state’s entrepreneurial spirit and build the global reputation of Nebraska businesses by providing sustainable business environments through business-building marketing and education. To learn more about GROW Nebraska, or Nebraska entrepreneurs and businesses, visit the GROW Web site at: www.grownebraska.com
 

Federal Microenterprise Funding Increases for First Time in Seven Years
President Bush signed into law the catch-all appropriations bill on December 26th. This bill contained funding for Small Business Administration and Department of Treasury programs for Microenterprise. The following list shows the amount approved in each area:
· SBA Microloan Technical Assistance: $15 million
· SBA Microloan Lending: $20 million
· SBA PRIME: $3 million
· SBA Women’s Business Centers: $13 million
· Treasury’s CDFI Fund: $94 million

This is the first time in seven years that all of these programs received funding increases. Nebraska microprogram staff have worked with Congressman to encourage more funding in these programs. Several Nebraska microprograms will be eligible to apply for these funds, helping to leverage more dollars for microenterprise services in the state.

Jaspersen Speaks at Iowa Microenterprise Policy Summit
The Child and Family Policy Center in Des Moines, Iowa, in conjunction with Women Entrepreneurs of Baltimore, Inc., recently presented a study on Microenterprise Development in the Iowa economy. The study found that a high percentage (86%) of total businesses were microenterprises and they accounted for 17% of all employment. Iowa currently provides training and technical assistance for microbusinesses through multiple organizations across the state. The study also found that Iowa ranks 37th of all states in private loans to small businesses, suggesting a lack of access to capital for many.

The research was introduced at a daylong meeting in Des Moines in mid-December. Attendees included state legislators, Department of Economic Development staff, Small Business Development Center staff, microprogram staff, University staff and others who are interested in expanded services for microbusinesses in the state. The timing for this discussion coincides with a possible interest on the part of the state in supporting microenterprise services in the future.

Rose Jaspersen of NMPF and Valerie Plummer of the Oregon Microenterprise Network (OMEN) shared information on the value of statewide intermediaries in providing innovation, resources, evaluation, capacity building and continuity to micro programming in their states. Iowa does not have a statewide intermediary at this time, but the development of such an entity in the future may help fill the current gaps in services.

$470,250 Awarded to Support Microenterprise Work
LINCOLN (October 24, 2007) - The Nebraska Microenterprise Partnership Fund announces the award of $470,250 in state funds to 9 microenterprise programs. These programs provide lending, pre- and post-loan technical assistance, and training to self-employed businesses (five or fewer employees) in urban and rural areas of Nebraska. This funding is made possible through the Nebraska Microenterprise Development Act, which was enacted by the State Legislature in 1997.

The Nebraska Department of Economic Development (DED) has contracted with the Nebraska Microenterprise Partnership Fund (NMPF), a private, nonprofit corporation, to administer the Microenterprise Development Act funds. In addition to this public funding the Nebraska Microenterprise Partnership Fund will make loan capital available to programs for use in making loans to micro businesses. NMPF’s loan funds come from a variety of sources including US Bank, Wells Fargo Bank, First National Nebraska CDC, Great Western Bank, US Small Business Administration, and the Community Development Financial Institutions Fund of the US Treasury.

Micro program fund recipients will provide a 25% match with public and private funds (not including other state funds). Because of this two-tiered matching, the state’s investment is being multiplied several times.

The nine award recipients and contacts are:

· Catholic Charities Microbusiness Program, Omaha. Karen Mavropolous 402-731-5413
· Center for Rural Affairs REAP. Jeff Reynolds 402-656-3091
· Community Development Resources, Lincoln. Rick Wallace 402-436-2386
· GROW Nebraska. Janell Anderson Ehrke 888-476-9632
· Ho Chunk CDC. Judi Meyer 402-846-5353
· Lincoln Action Program HDC. Travis Pillen 402-471-4515 ext. 110
· Nebraska EDGE-Center for Applied Rural Innovation. Marilyn Schlake 800-328-2851
· Northeast Economic Development, Inc. Jeff Christensen 402-649-7223
· West Central Nebraska Development District. Dave Jibben 308-284-6077

“Micro programs continue to reach increasing numbers of businesses across the state. These state dollars make this work possible,” said Rose Jaspersen, NMPF Executive Director.

Businesses in need of loans, training and/or technical assistance are encouraged to contact these programs.

For more information contact Rose Jaspersen at 402-685-5500.