Link: http://www.asba.com

ASBA’s Hiring

With all the negative press about the economy, we have good news -  ASBA’s Hiring.

That’s right, ASBA (the Arizona Small Business Association) is looking for a few good men (or women) who share our passion for  proactively Connecting Arizona Business to the People, Information and Resources they need to Grow their business.

For more information or to explore if you or someone you know has what it takes to be part of our Proactive Connectivity Team, check out this link on Jobing.com. http://phoenix.jobing.com/Job_Details2.asp?JobID=1767898&SearchID=164760669&Position=0&CameFrom=Job 

It’s economic stimulation – ASBA style.

Want more good news?

How about the opportunity to connect to and be inspired by 50 exciting, growing, successful companies who are being recognized for their contributions to growing their business and the economy of our state.   Sound good?  Then mark your calendars for the evening of November 11^th and reserve your ticket today for the 3^rd annual Comerica Bank Arizona Companies to Watch.  For more information or to purchase your tickets, visit http://www.asba.com/.

ASBA is dedicated to its mission of Growing Arizona Businesses and through them the Arizona Economy.

Each of us is doing our part to turn our economy in the right direction at the micro level.  But what is the latest on the macro economic level.  Check our the latest on the economy from ASBA’s favorite economist, Dr. Lee McPheters.

 http://knowledge.wpcarey.asu.edu/article.cfm?articleid=1669

Lee’sd article and pod cast is hosted by the Knowledge at W.P. Carey newsletter.  This free services is a great resource for all of us.  If you are not a subsciber, you might want to be.

So read Lee’s words, or listen to the POD cast and let me know what you think.

Link: http://www.tucsonlink.org/ACCDebates2008/

Arizonans - How do these things affect your ability to grow YOUR business?

* Water quality and the cost of electric and natural gas!

* High speed Internet to rural communities!

* Solar, nuclear, and other alternative energy sources!

* Arizona’s investment in utility infrastructure! The Debates Will Cover Issues Important to YOU and ARIZONA’S FUTURE:

These are among the issues of debate at the July 15 Primary Debates (now available on the Web and Cable TV) and the September 15 General Election Debate for candidates for the Arizona Corporation Commission (ACC). Logon to our webcasts, tune in to your local Cable TV, or engage in person at Rio Salado College in Tempe to learn more about the powerful ACC (often described as a Fourth Branch of Government) and to see the candidates debate these and other issues that will have an enormous impact on you, Arizona’s future, and the finances, safety and quality of life of all citizens, businesses, and organizations in Arizona. We also invite you to propose questions and to discuss issues online by visiting http://www.tucsonlink.org/ACCDebates2008/ .   All voters should view these debates! The Commission sets the rates you pay for public utilities including telecommunications, water, electric, and natural gas services. ACC policies also determine the quality of these services and future utility infrastructure investments, including high speed Internet to rural communities, and solar, nuclear and other alternative energy sources. In addition to utilities regulation, the debates will cover other Commission services including Consumer Protection and Corporations and Securities Oversight, and Railroad and Pipeline Safety. These nonpartisan debates, sponsored by the Arizona Citizens Clean Elections Commission, are presented by the Arizona Telecommunications and Information Council and moderated by Mark Goldstein of International Research Center in cooperation with an impressive list of other business and community organizations. Help Spread the Word: ASBA is proud to "Be a Cooperating Organization" link on the web site to see how you can help us get the word out about these important debates. Details at: http://www.tucsonlink.org/ACCDebates2008/For more information, please contact Steve Peters, ATIC ACC Debate Coordinator at 520-321-1309 or mailto:stevepeters@tucsonlink.org

Looking for growth?  Look to small business. 

As the general economy struggles, small business rides to the rescue once again.   

According to last weeks ADP Employment Report, employment in the private sector rose by 9,000 jobs across the country from June to July, sparked by an increase of 50,000 jobs among small businesses. By contrast, large businesses shed 32,000 positions, according to the ADP National Employment Report released last week. 

"July’s growth in employment is consistent with the gains seen among small-size businesses during most of the recent months," said Joel Prakken, chairman of Macroeconomic Advisers, LLC, which partners with Roseland-based Automatic Data Processing, Inc., to publish the monthly report. "These figures continue to offer evidence of the resiliency small-size businesses have demonstrated over the past several years when compared to the job losses experienced at larger firms." 

Here in AZ, the hardest hit sectors of the economy continue to be residential construction and financial activities related to home sales and mortgage lending. But other sectors are continuing to grow. And more often than not, the growth is being fueled by small, nimble businesses that are responding quickly to changes and finding opportunities even in this challenging climate. 

So if you are looking for answers to how we will work our way out of the current down turn - think small - small business that is. 

Just as plants need water to grow - growing companies need cash. 

Why do you think they call it liquidity.

So many times small business owners have trouble raising the cash they need to grow - not because it is not available but because they did not follow some basic steps to make their company bankable.

We know that as individuals, we need to have to develop a credit history, pay our bills on time, and start small with our personal credits and build it up.  Why do we expect our business to be any different.

Here are some tips you might want to consider when you work to improve your bankability:

1.  Your tax advisor may be saving you money on taxes and destroying you future ability to get a loan.  Banks look at historical documents like your P&L, Balance Sheet and TAX RETURNS as part of the data they use to decide if you are credit worthy.  They need to have confidence that you will be able to repay what you borrowed.  Year after year of tax returns showing little to no profits is NOT a way to inspire confidence in your banker.

2. Get a personal business banker.  It’s free!  Of all my professional services providers - accountants, auditors, lawyers, etc.  Only my personal banker spends the time to counsel me without handing me a bill for consulting services at the end.  Plus - the more they know about my busness, the more likely they are to introduce me to other businesses that might help my business grow or go to bat for me when I need it.  When we grow - they grow as more money goes into my accounts and their bank.  Its a win-win situation.

3.  Start small and work your way up.  Open a line of credit for a reasonable amount to begin.  Use it - pay it off.  Use it - Pay it off.  Show the bank that you know who to manage your credit relationship wisely and they will often reward you with higher lines of credit.

4.  Understand the different types of credit and diversify your portfolio.  Many banks have great resources on line to help you calculate  the type of credit that is right fir you.  A good example is Comerica Bank - one of the top small business lenders in the country.   Go to www.ComericaBank.com  and click the Small Business or Corporate tabs based on your company size.  It is full of great information PLUS calculators to help you determine the right type of credit for what you need.

5.  Monitor your progress.  Talk to your personal business banker.  Know what your Dunn and Bradstreet profile says about you.  Create a credit portfolio and manage it like you do your stocks and other investments. 

So work on your business credit - its a great way to be bankable and then you can weather any drought.