Crystal Ball Small Biz MI-SBTDC’s Lopucki: Innovators in the driver’s seat
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Carol Lopucki, State Director of the Michigan Small Business & Technology Development Center, participated in a Q&A with MiBiz Managing Editor Joe Boomgaard about the organization’s outlook for 2011.
Lopucki: The messaging that innovation, entrepreneurship and small business will play a significant role in Michigan’s recovery will continue to be front and center. No longer in the back seat, they will be viewed as drivers!
Lopucki: The 2010 State New Economy Index indicates that Michigan now ranks 17th in the nation, which is a significant rise from a ranking of 34th in 1999, a ranking of 22nd in 2002, and 19th in 2007. This index uses 26 indicators, divided into five categories: knowledge jobs, globalization, economic dynamism, transformation to a digital economy, and technological innovation capacity. The study is available at the Kauffman Foundation’s website, www.kauffman.org. Our organization will continue to advance technology commercialization by assisting entrepreneurs through the Small Business Administration’s SBIR-STTR Program and the Michigan Emerging Technologies Fund, www.mietf.org. We will continue to create impact by working hand-in-hand with SmartZones and regional economic development initiatives.
Lopucki: My response is no surprise. The greatest challenge in 2011 will continue to be access to capital by small companies. Startups have always had a difficult time getting financing, but now there are great challenges with access to capital for existing companies.
Lopucki: My industry, small business development/consulting, needs to stay focused on helping companies in key core areas: strong financial management of the business, having a fine-tuned marketing and sales strategy with clearly defined customer markets, ensuring customer satisfaction, maintaining well-structured operations. Our industry can survive best, whether public sector or private sector consulting, by demonstrating impact, measured by creating jobs, raising capital, launching new businesses.
Lopucki: I believe we will see modest growth in jobs in 2011, particularly in manufacturing. I believe it will be late 2012 before we see more substantial growth.
Lopucki: Legislation that would positively impact lending, particularly lines of credit to purchase supplies and inventory, would be beneficial.
Lopucki: They need to determine what programs can demonstrate (tangible) achieved results and continue to support them, look for best practices from other areas that Michigan can emulate, balance our budget, and work to maintain Michigan morale and passion through these difficult (unemployment) times we’re in.