September 28, 2012

Small Business is Big Business in Wisconsin

Wisconsin is home to more than 400,000 businesses of all sizes, including many large and prominent companies such as Harley-Davidson, Kohl’s, and Johnson Controls.   Interestingly though, about 97% of Wisconsin businesses are small businesses, employing approximately one million workers, equaling more than half of the state’s workforce.  Without question, small businesses are an important part of our economy. 

For those interested in starting, developing, or growing a business, the state offers some useful resources.  The Wisconsin Small Business Development Center (SBDC) is a partnership primarily between the state and the University of Wisconsin administered by the Small Business Administration which offers small business owners and aspiring entrepreneurs educational services.  In 2010, SBDC facilitated 159 business startups in Wisconsin, served 9,107 entrepreneurs through training events and creating business plans, and helped clients obtain more than $8 million in federal funds for innovation and technology transfer.

If you are a small businessperson or interested in starting a business, the Wisconsin Business AnswerLine may be a valuable tool to answering business-related questions.  AnswerLine provides free information to Wisconsin small business owners and their staff on a wide variety of topics.  It is staffed by experienced entrepreneurs who give instant answers on questions about starting a business, business planning, permits and licensing, insurance, legal entity types, management, and business financing.  AnswerLine may be accessed by phone during normal business hours at 1-800-940-7232 or on-line anytime at http://www.wisconsinsbdc.org/answerline.htm.

The SBDC also offers classroom training for entrepreneurs and small business owners.  Classroom training options include supervisory management, leadership and coaching skills, and attracting financing.  In addition, SBDC offers Peer-to-Peer Learning roundtables where owners, CEOs, and presidents tap into the collective wisdom of their peers on topics such as finance, employee relations, legal compliance, marketing and advertising, accessing new markets, and production.  Groups are composed of eight to twelve non-competing business owners who gather about ten times over a twelve month period.  SBDC’s training programs and peer roundtables are all listed on-line at www.wisconsinsbdc.org/Training.htm.

If you are thinking about starting a business, you may want to enroll in SBDC’s training program called First Steps.  First Steps is a free on-line course that helps individuals determine whether business ownership is right for them.  The program is a self-study course which assesses the personal, financial, and market feasibility of a business idea.  The Web address for First Steps is: www.wisconsinsbdc.org/FirstSteps.htm.

For those interested in information on choosing a store location, obtaining a timeline for starting a business, or information on home based businesses, the SBDC offers a number of resource documents and a 'Frequently Asked Questions' page, which provides a wealth of information for starting a new business.  The information can be found on the SBDC Web site at www.wisconsinsbdc.org under the 'Services' tab. 

The Wisconsin Economic Development Center (WEDC) is the state’s new economic development organization. WEDC’s Entrepreneurship and Innovation program provides investment tax credits and technology development financing.  For exporting, WEDC’s International Development team works one-on-one with individuals to assess the demand for Wisconsin-made products outside of the United States, and assist in developing profitable international transactions. 

WEDC’s Economic and Community Development division makes investments in companies expanding their operations in Wisconsin.  The Economic and Community Development division also partners with municipal, county, and regional economic development organizations to provide incentives for business expansion.  Eligible projects include the expansion of jobs, business development, and the reuse of vacant land or buildings. 

In addition, WEDC provides support to communities through public facilities grants, grants for community redevelopment to improve environmentally contaminated areas, as well as the Wisconsin Main Street Program, which provides technical support and training needed in order for a community to restore its Main Street to a center of community activity and commerce. 

WEDC also has a Minority Business Development program designed to generate and foster the growth of minority businesses in Wisconsin, and provide consultation and services to minority business owners and entrepreneurs, including hosting Marketplace and the Governor’s Conference on Minority Business Development.  For more information on any of the above WEDC programs, you may contact a local WEDC Regional Account Manager at http://inwisconsin.com/ram-contacts/ or visit the WEDC Web site located at http://inwisconsin.com/

Finally, the Governor and WEDC recently announced a new brand for Wisconsin business, titled “In Wisconsin”.  The 'In Wisconsin' brand aims to highlight Wisconsin’s business climate and the benefits of starting, expanding, or locating a business in Wisconsin.  The brand will showcase Wisconsin as a place of great strength, including having a concentration of industry clusters, education that fuels cutting-edge research, and a skilled workforce.  A marketing campaign introducing the 'In Wisconsin' brand and highlighting Wisconsin’s economic assets will run through December in Wisconsin, Minnesota, and Illinois.  Additional information can be found at http://inwisconsin.com/.

Wisconsin is increasingly becoming a state in which to do business, and industry and business leaders are taking note, as Wisconsin is now ranked as the 20th best state in which to do business. That ranking is an increase from 24th place in 2011 and 41st place in 2010. Small, medium, and large businesses alike are integral to our state’s economy and our communities. I hope this information and these resources are of assistance to anyone planning on starting or expanding a business, creating jobs, and being a part of Wisconsin’s growing economy.

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Senator Kedzie can be reached in Madison at P.O. Box 7882, Madison, WI 53707-7882 or by calling toll-free 1 (800) 578-1457.  He may be reached in the district at (262) 742-2025 or online at www.senatorkedzie.com