University of Wisconsin - Extension

Seven graduates of a small-business course are putting the finishing touches on their business plans as they contemplate a leap to entrepreneurship. The graduates, members of the Bad River Tribe in Ashland County, completed an Entrepreneurial Training Course presented by the Small Business Development Center (SBDC) staff from UW-Superior.

The course was team taught by the SBDC¿s Loren Erickson and Julianne Raymond, who also administered the program. ¿We had guest lecturers on finance, taxes and human resources,¿ says Raymond.

Partners provide tuition

Participants applied for and received Wisconsin Department of Commerce grants for three-quarters of the program tuition cost. A local consortium of business interests provided the tuition balance. The consortium includes M&I Bank of Ashland, Ashland Area Development Corp., Xcel Energy and Northern State Bank.

Raymond says that all of the program participants work full time. Course sessions were held during evenings.

Entrepreneurs receive training and continuing counseling

¿After completing the eight-week training, they each presented an executive summary of their business idea to their peers, who posed as a ¿loan committee¿,¿ explains Raymond. Summaries included business purpose and description, management structure, financing needs and how loans would be repaid.

Graduates continue to receive SBDC business management counseling as they complete the details of their business plans, a requirement of the tuition grants.

¿They¿re very enthusiastic,¿ says Raymond. ¿They want to set up their own chamber and their own revolving loan program.¿

Training inspires neighboring tribe

Raymond adds that word of the successful program has spread to the Red Cliff Tribe in neighboring Bayfield County. ¿As a result, we¿re scheduling business counseling with members of the Red Cliff band. We hope to discuss aquaculture businesses with some of them, and look forward to being a management resource in that community as well.¿

The SBDC is a partnership among the University of Wisconsin-Extension, 12 UW universities, the Small Business Administration, and many local economic development organizations. Through its business management counseling services and educational programs, the SBDC serves 10,000 Wisconsin residents each year.