Section B I


Message from the President t has been gratify-


ing to see that


small business is finally receiving the


attention from Washing-


ton that it so richly deserves in the government’s economic stimulus programming. Small business and medium size entrepreneurial enterprises are the spark that ignites the economy to fire up for growth.


It is a historic trend


that while major corporate spending and investment remains contracted while the US economy is emerging from a recession, small business reacts to the opportunistic nature of the market and spends ahead of sales.


Importantly, small busi-


nesses create jobs and pro- mote consumer spending. The new government pro- grams that are administered through the SBA are only


THE MICHIGAN CHRONICLE


October 13-19, 2010 Micro Loans for small businesses available


By Vanessa Rucker, CEED The Center for Empowerment and Economic


Development (CEED) has been supporting women and minority owned businesses in the city of De- troit for more than 24 years. CEED’s Micro Loan pro- gram was created through a partner- ship between the City of Detroit Mayor’s Office of Neighborhood and Commercial Revitalization and the Center for Em- powerment and Economic Development to assist Detroit small businesses with start-up and expan- sion programs. CEED’s Micro Loan program is the


first comprehensive loan program of its kind in the city of Detroit.


Many small businesses know that it can be dif-


ficult to obtain financing from conventional sourc- es, due to lack of capital, no credit and insufficient collateral. While most entrepreneurs may demon- strate the ability to operate successfully, their lack of access to traditional financing requires alterna- tive sources of financing. Thus CEEDs’ Micro Loan program will remove barriers and provide access to needed funds.


CEED provides the tools and resources to build-


up a community with money being one of many resources. CEED mentors, trains and builds net- works of small business owners at the neighbor- hood level in an effort to help small businesses thrive and grow through community support.


Micro Loans are available for the start-up and


expansion of a business. They may be used for equipment, inventory acquisition, job creation, supplies, operating cost and some working capi- tal.


To apply, Applicants are required to attend a


free loan orientation. Please call 313-255-1020 for the exact schedule or additional information. Loan orientations take place every Tueday at 10 a.m. at the Grandmont Rosedale Development Center, 19800 Grand River, Detroit.


Micro Loans are available from as little as


$5,000 to $35,000. For more information about CEED and the small


business Detroit Micro Loan program, go TO www. miceed.org or call 313-255-1020.


David Girodat


one part of the equation for the return to health of our small business sector. For Michigan it is also in creating a healthy climate for small businesses to start-up and grow. That includes a favor- able tax program and read- ily available resources from skilled labor to education.


It


will also involve stripping the complexities of compliance from the government mandat- ed tax programs, complexities that now require small busi- ness to invest countless man hours into completing forms and filing paperwork.


We have it with-in our


power to build that type of pro-small business reputation here in a very short period of time if we act together and with a sense of urgency. This will take a private public sector partnership that es- chews politics in favor of set- ting our sights on a common goal and each party doing their part to achieve positive outcomes.


From the bank’s perspec-


tive we play a major role in supporting small business from providing access to capital, making available in- novative services that gener- ate efficiency’s, and sharing expertise that exists with our highly specialized bankers. Although during the past few years there have often been strained relationships between stressed businesses and their banks, we have come through this with a new appreciation on both sides of the relationship on how important it is to maintain an open and honest dialogue in order to see into the future for new opportunities.


We pledge to bring the


resources of the total bank to each of our client relation- ships and to seek to under- stand and drive for solutions to problems our small busi- ness customers are facing.


We honor the small busi-


nesses of Detroit and support them as they build our city for the future.


Personal


David F. Girodat President, Fifth Third Bank, Eastern Michigan


Richard King conducting a Fiscal Fitness session to small business owners.


5 keys to achieving fiscal fitness for small businesses


By Loretta Humphrey-Cruz On Nov. 16, the Michigan Small Business


Technical Development Center (MI-SBTDC), will be holding their Fiscal Fitness for the Grow- ing Business at Fifth Third Bank at 1000 Town Center in Southfield. The Fiscal Fitness program has been lauded by small business owners who participated in previous workshops as a vital tool and is a “boots on the ground” approach to assist small businesses to help them take their business to the next level. Topics for the upcom- ing workshop will include ways to improve your company’s cash flow, how to use your balance sheet and income statement to diagnose busi- ness problems and identify opportunities, how break-even analysis can help develop better pric- ing and make better investment decisions; how


to ensure you have enough working capital to support growth and how to keep your banker on your side.


Fiscal Fitness for the Growing Business is a


one-on-one, confidential financial management consulting process designed to strengthen finan- cial literacy and improve the ability to access the capital businesses need to grow.


Many small business owners wear so many


hats and are doing everything from managing in- ventory, purchasing goods, marketing and sales to sweeping and locking up. Small business owners are everyone from the receptionist, the IT person and the CEO. Managing the myriad of tasks leaves little time to make room for to handle yet another task. With most small busi- nesses however, the task financial management is more often than not one of the primary duties


Your Customers? Simply put....a better experience.


Who’s Stealing


Today more than ever businesses of every size must learn the difference between transactions and experienc- es worth telling others about. Trans- actions are bland, forgettable and do very little to drive your business for- ward. Customers do not recommend others to an uninspiring and imper- sonal transaction.


Branding By Chris Bryant BRAND STRATEGIST


A memorable experience creates


an emotional bond, lasting loyalty and leads to invaluable referrals. It creates customers that sell for you, the most effective, credible and non-paid sales force you could ever build. In a mar-


ketplace where there is very little dis- tinction between products and where price points fluctuate, the ability to engage customers in a meaningful way is a make or break proposition for organizations and especially small businesses.


As a former director of Training


& Organizational Effectiveness with the Ritz-Carlton Hotel Company, I would always ask new hire orientation classes what business they thought we were in. After several responses I introduced them to the fact that the brand was first and foremost in the “experience business.”


This paradigm shift helped to


shape how they engaged customers going forward. Small businesses can


that is outsourced. This can remove the busi- ness owner from the primary barometer of the financial health of their business. As a result, the small business owner is intimately aware of everything that is going on in his or her business except the most crucial aspect. Knowing the fi- nancial health of his or her business can help a small business owner sleep soundly at night or it can be the “canary in the coal mine” and help determine what issues need to be addressed to head off potential disaster. Knowing that “the numbers” are crucial to business success, many small businesses do not realize the importance of understanding the figures that make up the balance sheet and income statement. After at- tending the workshop and sometimes a follow- up meeting, these small business owners typi-


See Small Businesses page B-2


ill-afford to neither pay lip service to transformative service nor sip from the cup of mediocrity in customer re- lations. The good news is that while great service has a profound impact on the bottom line, the relative cost is minimal. Keeping your customers from defecting to a better experience is about leading by example and culti- vating a customer-centric brand.


It does not necessarily require in-


vesting in some cost-prohibitive piece of equipment or software. Think out of the box and commit to making your customer experience simply ir- resistible.


I’d like to hear from you. Tell me


what you are doing to create a distinc- tive experience for your customers.


Send to MyStory@ChrisBryantPre- sents.com. Also follow me on Twitter (@BuidingMyBrand), LinkedIn (www. linkedin.com/in/MrChrisBryant), and Facebook.


Chris Bryant is a leading authority


on personal branding, customer rela- tions, leadership development and business etiquette who is a former director of Staff Training and speaker for the Ritz-Carlton Hotel Company. As a keynote speaker, consultant and executive coach his clients include Nestlé, Chrysler, Mattel, Black Enter- prise magazine, and the U.S. Depart- ment of Treasury, to name a few. For more information visit www.ChrisBry- antPresents.com or send an email to Info@ChrisBryantPresents.com.


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