December 14, 2018

Center for Economic Development Launches Business Reference Guide

The University’s Center for Economic Development Business Reference Guide is available for Small Businesses in Virginia to utilize for quick and reliable information.

Since 2006, the Center for Economic Development has compiled the Business Reference Guide as a business intelligence tool for Virginia small companies. Each year more information is added and validated to create what the guide has become today.

Some major topics included in the guide are: Business Data and Statistics, E-commerce and Retail, Main Street Resources, and Local Impact for a Small Business.

“Business Intelligence is an advantage for entrepreneurs and business owners,” says Brian Baker, the Executive Director of the Center for Economic Development. “The 13th Annual Business Reference Guide is designed to help them find answers and save time from a comprehensive source.”

The UMW Small Business Development Center (SBDC), a program at the Center for Economic Development, uses the resource guide to help small business clients. The SBDC provides assistance to the small business community through management training, industrial and demographic research, and confidential one-on-one consulting with a focus on capital access and management planning.

“I always include the business reference guide as a resource to our new business owners,” says Angela Kelley, Early Venture Specialist of the Small Business Development Center. “It provides them with valuable resources to help them start and grow their business.”

To view the 2018 Business Reference Guide, please click here.

 

MBA Students Create New Plan for Stafford Airport

An MBA student group, in concert with the UMW Center for Economic Development (CED), has worked on a project for the Stafford Regional Airport (SRA).

The group of COB/MBA students, working with Associate Professor of Management & Marketing Louis Martinett and CED Executive Director Brian Baker as well as alumni mentor Micah Dalton, produced a written strategic marketing plan for SRA. The outcome of the planning process was a plan that described a clear strategy for growth for SRA. The strategic marketing planning process included hands-on work with the Stafford Airport Authority, preparation, and follow-up evaluations along with a clear strategic plan of implementation.

Through the process, the student team and the Airport Authority worked together on a review of the current business model, revising the mission and vision, answered key questions for expanding the scope of business, and identified opportunities and defined ideas for expanding the business footprint of SRA.  The student team included Omar Awan, Megan Holder, Steven Ping, Max Watson, Kaitlynn Wickersham.

Dave Ellis, vice chairman of the SRA Authority and a 25-year Air Force veteran with nine years in a senior civilian role at Air Force Headquarters in the Pentagon said: “During those years, I’ve been through numerous planning exercises and the project led by these UMW grad students has the been the best by far. Each meeting was professionally run and we accomplished specific activities and achieved desired outcomes to produce an exceptional Strategic Plan. The plan will re-focus our collective efforts into a cohesive approach, allowing the SRA to deliver outstanding experiences to our customers, business partners and the community.”

Baker Presents at VBIA Summit

Brian Baker, Executive Director for Economic Development, presented on “Lessons Learned in Business Incubation” at the Virginia Business Incubation Association Summit, Beyond the Silicon Dominion, The Future of Virginia Entrepreneurship. Themes from the presentation included Virtual Enterprise, Global Decoupling, and the Importance of the Maker Movement on the Future of Innovation.

Baker Speaks at Northern Neck Quarterly Meeting

Brian Baker, Executive Director for Economic Development, spoke in Reedville, Va., on the topic of entrepreneurship at the quarterly meeting of the Northern Neck Planning District Commission, Chesapeake Bay Region Partnership and the Northern Neck Tourism Commission. The UMW Center for Economic Development will launch a new entrepreneur program this fall. It will address ideation, commercialization, business modeling, business planning and pitch preparation. The three-month program is designed to nurture entrepreneurs in the facets of business formation. The program will have three tracks to support pre-college, college and post-college entrepreneurs.

Center for Economic Development Releases 2016 Business Guide

The University of Mary Washington Center for Economic Development Business Reference Guide was first compiled in 2006 as a business intelligence tool for small companies in Virginia. Since inception it has more than doubled in size and has become a staple for business clients and professionals both locally and statewide. The Guide systematizes internet resources in a hierarchical taxonomy for quick access. Users will find three new business categories in the 2016 edition that include resources for veterans, rural communities and international engagement business themes.

The Business Reference Guide is a living document that is updated annually and provides representatives from business, education and government with quick access to information. Users are invited to submit new resources and categories that support the health and vitality of Virginia businesses.

The University of Mary Washington Center for Economic Development collaborates with business, government, education, and private parties to promote personal, professional and economic growth by advancing knowledge through entrepreneurship, small business development, innovation and competitiveness, research and analysis, and outreach and engagement.

http://economicdevelopment.umw.edu/files/2016/07/2016-Business-Reference-Guide.pdf

 

Spring Newsletter from the Center for Economic Development

The spring newsletter from the UMW Center for Economic Development is available. Enjoy updates on state, regional, and local partnerships, people, and interesting projects.

https://drive.google.com/file/d/0B18sBULPYrqdZVU1aW5vOWRRYmc/view?pref=2&pli=1

Baker Elected to Fredericksburg Regional Chamber Board

Brian Baker, Executive Director for Economic Development, was elected to the Fredericksburg Regional Chamber of Commerce Board of Directors for a three-year term that began on January 1, 2016.  He has been an active member at the Chamber since 2002.  During that time he has served roles on the Strategic Planning Committee, facilitated Board strategic planning, Finance Committee, the strategic visioning committee, the small business planning committee, the  Leadership Fredericksburg Advisory Board, Mentor Cabinet Chair, and served as a Leadership Fredericksburg mentor since 2008 .  In 2011 he was recognized as an honorary fellow of Leadership Fredericksburg.

Baker Presents at Conference

Brian Baker, executive director for the UMW Center for Economic Development, presented at the Virginia Business Incubation Association Conference this month.  His presentation on “The Other Accelerator” discussed how existing businesses can be incubated through a virtual process to get export trade ready. A notable feature of the event was the CEO+ Program, a partnership between the Rappahannock Economic Development Corporation and the UMW-CED, which will be used as the first stage to accelerating the capability of regional small companies to do business in global markets.

The conference was held in Charlottesville and convened economic development and business development stakeholders.  The Virginia Business Incubation Association is a statewide organization to advance business incubation across the Commonwealth.

 

REDCO Partnering with UMW for Business Program

The UMW Center for Economic Development is partnering with the Rappahannock Economic Development Corporation (REDCO) to provide the CEO+ Program for REDCO 504 loan recipients. The CEO+ Program is a collection of training, business intelligence and financial counseling designed to strengthen the capabilities of small business owners. 504 loan recipients will have access to specialized management training, industry reports, benchmark studies, and financial management assistance. A pilot of the program will begin in October with 10 clients.

Brian Baker, executive director for Economic Development at UMW, stated: “This is a scaled solution with high value data and service that can be deployed quickly to business owners who need to make critical management decisions.” A full launch of the program is planned for January 2016.

REDCO is a licensed non-profit, Certified Development Company that offers long-term fixed-rate financing for small business in Virginia through the SBA 504 Loan Program. The University of Mary Washington Center for Economic Development collaborates with business, government, education and private parties to promote personal, professional and economic growth by advancing knowledge through entrepreneurship, small business development, innovation and competitiveness, research and analysis, and outreach and engagement. UMW programs that will support the partnership include the Small Business Development Center, the EagleWorks Business Incubation Center, and the Office of Regional Initiatives. You can find more information about the UMW Center for Economic Development at www.economicdevelopment.umw.edu/ and REDCO-504 at www.redco504.org .

Baker Conducts Association Strategic Planning

UMW Executive Director of Economic Development Brian Baker conducted strategic planning with Board Members of the Virginia Business Incubation Association.  Baker is a practitioner of the actionable balanced scorecard approach to strategic planning.  The session was hosted at the Waynesboro Office of Economic Development.  The Virginia Business Incubation Association is an education and networking association for professionals who support entrepreneurship, small business development, and the advancement of incubation throughout the Commonwealth.