Area business

starts show promise
By Scott Nicholson

While the economy remains mired in a recession, self-starters are finding a welcome platform for launching new businesses in a local program.

Don Wood, manager of the Appalachian Enterprise Center in Boone, said entrepreneurial activity has picked up a little bit at the downtown center.

“But there still seems to be a little hesitation,” he added.

“Then there are some (new businesses) that are quite successful and growing.”

Not surprisingly, Wood said business owners that have laid a solid foundation have tended to fare better, even when the economy has ups and downs.

“The people that are being somewhat successful have done their homework and research and are moving forward with services and products that were lacking,” he said. “I think it’s a great time to start exploring alternatives and starting your own company. There’s a myth that banks aren’t lending, but that’s not true.”

While the High Country hasn’t had the massive job hemorrhaging seen in many metropolitan areas, unemployment has crawled upward in different sectors.

Those people who have taken severance packages or been laid off have an opportunity to review their career goals and some of them are deciding the time is right to act on their own ideas, Wood said.

“At incubators around the country, from what I’ve read, activity is up in a down economy,” Wood said.
“People who have taken severance packages and been let go are actively in exploration.”

The Appalachian Enterprise Center has a number of resources available, including informal consultation or a full-fledged entrepreneurial course.

Wood said potential business owners are welcome to sit down with a Boone SCORE (Service Corps of Retired Executives) volunteer and hash out business plans, and then decide whether to take the next steps.

The center is also affiliated with the Small Business Technology and Development Center, the Entrepreneurship Center at Appalachian State University, Small Business Center at Caldwell Community College, Appalachian Regional Development Institute, and the ASU Energy Center.

“We get a gauge of where they (new business owners) are and let them know what it’s going to take,” Wood said. “That’s the beginning of a business plan. ‘What’s the competition? Where are you planning to sell the product or service? What’s going to make you special? What are the things you need, and how long are you prepared to not make money?”

The Appalachian Enterprise Center, located next to the social services department and health department, was renovated by Watauga County, which owns the building. Several new businesses are operating out of the incubator, and Wood said 13 spaces remain.

“We’ve got some amazing resources here,” he said. “In general, 92 percent of businesses that start in an incubator are still in business and that’s amazing.”

SCORE volunteers are in the center every Tuesday and Thursday. They are real-world professionals and business owners who share their experience and knowledge, helping guide new business owners.

Those taking the full entrepreneurial course emerge with a complete business plan they can use to seek financing or find the career of their dreams, one where they hold the key and run the cash register.

Wood said incubators are not just for new businesses but are also a good next step for people expanding out of a home office. The center has a conference center and a number of online resources that can benefit “virtual tenants.”

More information on local entrepreneurial resources is available at www.appalachianenterprisecenter.com.