ACEDC's April Newsletter

Check out our April Newsletter

http://www.addisoncountyedc.org/uploads/documents/ACEDCs April Newsletter.pdf 

 


ACEDC's April Newsletter 

 

 
Monthly Newsletter
In This Issue:
From the Director  
Happy Spring! As I write this, the sun is shining and daffodils are blooming at last. Many of us thought that Spring might never arrive, but indeed it has. Speaking of arrivals, we are very happy with our newly launched web site. We already see members benefitting from the opportunity to post job openings, events, and commercial property listings at no cost. In addition to your very own page in our Members section, we hope these features help you find the candidates, attendees, and prospective tenants you're seeking.

As mentioned in our Addison County Update in the latest Rutland Business Journal, we recently surveyed several members to ask how they see Vermont's economy. The general consensus is that although the recovery seems to be coming slowly, we are moving forward from recession into another period of economic growth. You can read the full piece here

Thank you to all renewing members who continue to support our vital work, and welcome to our new members. Thank you for joining us to support good jobs and economic vitality in Addison County!

In addition to our web site, we are using social media to help promote our members and ACEDC, and to engage with the local, state, and with communities. We have a growing following on both Twitter and Facebook and look forward to continuing to participate in the dialogue, sharing news and useful links, and supporting your businesses. 

GREAT really does start here! 

Kind regards,

Robin 
JUST FOR FUN
 
VT Natural Ag Products, Moo Doo Voodoo 
There truly is NO LIMIT to the creativity we see in our members and their marketing and communications materials. Just look at this video from 
Vermont Natural Ag Products, which will open your eyes to new and
innovative uses for an abundant Vermont resource!  Click here.
ACEDC Highlights
Membership
 
 
And congratulations to Middlebury College for blazing the trail as the 1st to renew membership using our new online payment system

Thank you to ALL members for your continued support and commitment to economic development and good jobs in Addison County.
Member News
Maple Landmark Woodcraft
MLWLogo
on TV & on AP          

 

Will be featured on the show "Small Town Big Deal" on the RFD Network on May 16th. Check out the details and video of that story, which was on FOX-44 and WCAX.  

The Associated Press ran a lengthy Big Story about Building a lasting business - with family, which went national and beyond and featured the Rainville family. 
Country Home ProductsDR-Power-logo_countryhome

Was recognized (again!) as one of the Best Places to 
work in Vermont by Vermont Business Magazine.

Congratulations!
The Nathaniel Group 
 
Nathaniel-logo 2
Was the featured cover story recently in 
Business People Vermont, which explored the history and innovative spirit that drives the Vergennes manufacturer.  
NBMlogo_RGB_wTag_stackedNational Bank of Middlebury

Bank president Ken Perine was featured (cover story!) recently in Business People Vermont and in the 
Rutland Business Journal.
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WhistlePig Whiskey 
 
Has received several mentions in local and national  media, including one story about the office bar being alive and well in NYC's digital business community.
 
Good Point Recycling
 
ARI_logo_medium
Hosted the 1st international e-waste recycling conference at Middlebury College April 16th. 
Seventy attendees and more than 175 online viewers / participants from Brazil, Burkina Faso, Ghana, Holland, Egypt, Peru, Indonesia, Malaysia, China, and even Canada discussed a consensus for a "middle path" between the extremes of exporting anything/everything, and boycotting overseas markets.

Good Point CEO Robin Ingenthron, the elected president of the Fair Trade Recycling association (and the organization's founder) says the event brings national and international attention and recognition that a huge amount of discarded electronics are legitimately working and can be reused, but fear of being labeled "a bad exporter" has created a dysfunctional pressure to shred billions of dollars of working equipment.

Original Equipment Manufacturers (OEMs) Sony and Panasonic attended the event and agree that "fair trade recycling" may open the door to legitimate reuse and recycling without externalization of pollution or unfair practices. 

Vermont is considered the "cradle" of Fair Trade Recycling movement, but it has not previously been recognized in Vermont. Both NECN and VPR covered the event.
 
JUST FOR FUN
 
Maple Sugaring: a cautionary tale
Recognizing both sugaring season and national poetry month, we're very pleased to share this tribute to Vermonters bold enough to have tried their hand at tapping into the mysterious world of maple syrup.
Question of the Month
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Innovation in Vermont means . . . . . 
_______________________________________________.

Please take a moment, and briefly share your thoughts on what 
innovation in Vermont means -- email to info@addisoncountyedc.org.
 
We'll share some of your responses (anonymously, if you prefer!) in our next newsletter, and we'll post them to our Facebook page and Tweet them to our growing social media community. 
Events
Monday, May 20, 2013 8:30am to 12pm
Vermont Technical College
Get the upper hand on entrepreneurial success. In this workshop we'll cover these topics and others: How to look objectively at your new idea (pre start-up); I haven't got a dime, so where is my start-up and R&D funding coming from: Why do I need a business champion? I need some help what do I need to know about my first team members? Why do I need to develop a value proposition and how do I do this?
How do I go about discovering my true market? What is the right business legal structure?
How do I choose the business model right for me? Marketing - how do I communicate to the world that I have what they need or want? How do I know how to price my product during early stage sales?
How do I protect my intellectual property? Getting to and staying profitable.
Vermont Economic Development Summit - save the date 6 / 3 / 13
The Agency of Commerce & Community Development, along with the Regional Development Corporations of Vermont, will host this kickoff event. 
More details to come.
The Vermont Manufacturing Extension Center (VMEC) provides systems and solutions to help Vermont Manufacturers innovate, plan, perform and grow.
 
See VMEC's web site for their current list of workshops.

NFIB is hosting a healthcare forum on Tuesday, June 4 at 9AM. Vermont Health CO-OP. Meeting location: Middlebury. Attend one or all of these FREE one-hour educational opportunities

 

Additional Healthcare Forums are scheduled throughout the state during the next several months.   

Friday, June 7, 2013
Champlain College
We hope you will be able to join us for this special event!  We are excited to share new presenters and new workshops this year, as well as the return of many of our most popular presenters and workshop topics. 
Financing the Working Landscape - save the date!     11 / 7 / 13  
More than 100 local entrepreneurs, investors and service providers attended our 2nd annual conference, and we expect even more in 2013!
 
Save the date - Thursday, November 7, 2013 - for the 3rd Financing the Working Landscape conference, and watch for opportunities to sponsor, attend, and promote this entrepreneurial event.
See our web site for more EVENTS

 
Biz Tip of the Month
The Capital Continuum: Charting Your Course
  
revised capital investment continuum arrow  
 
Where is your business in its lifecycle? What's the right type of financing for your company? Regardless of the type or size of your business, the need for capital (equity) or debt remains fairly consistent. Common thinking holds that there are four stages in the life of a business: idea, startup, growth, and maturity; and five basic sources of financing. Understanding the relationship between your stage of business and the type of financing associated with each stage can help you focus your efforts on finding the appropriate type of funding.

1. Friends, Family, and Founders. This type of financing is generally associated with the Idea stage of business where the founder is attempting to research and develop an idea into something that is marketable.
 
2. Angel Investors. Usually available to businesses that are in Startup mode. These companies have proven that there is a market for their product and have generated some revenue. Angel investors typically require an ownership stake in the company, but not interest on their investment.
 
3. Venture Capital. VC firms are capable of infusing equity or subordinated debt into a business. Because companies at this stage are still considered risky investments, the subordinated debt is typically at a higher interest rate than a bank would offer. Companies that are near or beginning to enter the Growth stage and have the intent or potential to grow are prime VC candidates.
 
4. Public Sector Programs (Federal, State, Local). We have now moved from equity to debt financing. These loan programs are typically government-guaranteed (SBA, USDA, etc.). Businesses that make use of these loan programs tend to range from late Startup through Growth stage and are looking to grow or expand operations. Loans made using these programs are often made in partnership with and subordinated to traditional bank financing.
 
5. Bank Loans. Bank loans are typically used for asset acquisition (for example - inventory, machinery and equipment), to refinance existing debt, and/or to finance working capital. Bank debt usually offers the lowest interest rates because they are the least risky form of financing. Businesses solidly in the Growth or Mature stage of life tend to be funded this way.
 
Not sure where you fit? Contact us at ACEDC (802-388-7953) and we'll help you chart your course. We have our own Revolving Loan Funds and we can also connect you with other lenders and equity investors.



Addison County Economic Development Corporation

Tel: (802) 388-7953
Fax: (802) 388-0119

 
Great  
 starts here !

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Addison County Economic Development Corporation | 1590 Route 7 South | Suite 8 | Middlebury | VT | 05753