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BUILDING A SMALL BUSINESS SUPPLY CHAIN

March 29th, 2012

The Small Business Administration has created a program with 15 large corporations to help small businesses become suppliers to Big Business.

The program is called Supplier Connection, and it includes an online portal that allows small companies to send information about their products and services to 15 large companies: Advanced Micro Devices Inc., AT&T Corp., Bank of America Corp., Caterpillar Inc., Citigroup Inc., Dell Inc., Facebook, IBM Corp., JPMorgan Chase & Co., Deere & Co., Kellogg Co., Office Depot Inc., Pfizer Inc., UPS Inc. and Wells Fargo & Co. More companies are expected to participate.

The program is part of the Obama Administration’s American Supplier Initiative, which was created to encourage companies to use small businesses as suppliers. Small businesses can take advantage of the Supplier Connection by registering on the portal at www.supplier-connection.net  and filling out a detailed application that includes a company profile.

Companies that have less than $50 million in annual revenue or fewer than 500 employees are eligible to use Supplier Connection. If you click on the “About the Program” tab on the portal’s home page, you’ll go to a page with a list of goods and services that are part of the program.

There is no cost to join the program. Small businesses that register aren’t guaranteed to get sales through the program, and there won’t be any requests for bids posted by the large companies that are participating. But the program is designed to help small companies be more visible.

Optimal Resume: A Service for Port Washington Library Card Holders

February 3rd, 2012

Create Resumes, Cover letters & Personalized Career Websites

 

If you are a Port Washington Library card holder please consider using our Optimal Resume service, which assists job seekers in creating resumes and cover letters, as well as producing video resumes and personalized career websites. In addition, interview training, skills assessments, document portfolios, and job searching assistance are all offered for free.  Click on the Optimal Resume  link to get started. 

Small Business Financing for the New Year

February 1st, 2012
Source:  Roslyn D. Goldmacher, President & Chief Executive Officer
Long Island Development Corporation

January, 2012

www.lidc.org

2012-a new year and hopefully a successful year for Long Island’s small business community. This is a time for business to regroup, become more efficient, expand and grow. These activities often require financing outside of the company’s existing assets. This month’s column is a review of some of the traditional and nontraditional sources of financing available for small business:

 

I. Capital Asset Acquisition/Renovation- buildings/machinery

 

  1. IDA (Industrial Development Agency) bonds or straight lease backs- for the stronger credits, larger projects. Up to 100% financing provided by a bond purchased by a bank or other entity or syndicated. Brings some real property tax, mortgage tax, sales tax abatements. Abatements can also be provided without bond issuance through straight lease back transactions. For manufacturers, wholesale and other types of projects. Available through local IDA. Financing and incentives formerly available for nonprofits and certain civic projects through the IDA’s are now available through Local Development Corporations- usually affiliated with the municipality’s IDA.
  2. NYJDA (Job Development Authority) second mortgage loans up to 40%-60% of project for manufacturers, wholesale (no retail). Taxable and tax exempt bonds are source of funding. Job creation required. Long term. Fixed and variable rates. Available through Empire State Development (NYS).
  3. SBA 504 (US Small Business Administration) second mortgage loans up to 40% of total project cost for manufacturers, wholesale, service, professional service, retail. Long term low fixed rate loans for economic development. Up to $5.5 million. Some refinancing available. Available from Empire CDC.
  4. Community Reinvestment Fund (CRF)-capital asset loans up to 100% of project cost (capital project or working capital secured by capital assets). Available only in Federally designated New Market Tax Credit prime areas. Long term. Fixed or floating rate. For nonprofits and businesses. Up to $3 million. Available from Long Island Development Corp.

 

II. Working Capital

 

  1. SBA 7A – loans from banks and other lenders who get a partial guarantee from SBA. Up to 10 years, long term up to $5 million. Lesser amounts available on expedited process. Talk to your local banker or SBA’s Hauppauge office.
  2. LI Targeted Industry Revolving Loan Fund- a NYS fund (also sponsored by US Dept. Commerce/EDA) which provides up to $250,000 to manufacturers, bio medical, pharmaceutical, high end electronics, computer graphics, software development, transportation and environmental technology companies; commercial fishermen; non retail women or minority owned (certified by NYS), and wholesale in NYS empire or excelsior zone. Long term, low fixed rate, generally subordinate. Available from LI Development Corporation.
  3. SBA Micro loan fund- up to $50,000 for small business. Available from CDCLI. (Also has mezzanine fund for higher amounts).
  4. LI Small Business Assistance Corp. (LISBAC) – loans up to $10,000 for existing or start up businesses. Fixed rate, long term. Contact LIDC.
  5. La Fuerza CDC-loans up to $25,000 for women or minority owned businesses. Contact La Fuerza CDC.
  6. Town of Hempstead Loan Fund- up to $10,000 for businesses in unincorporated areas of town. Contact Hempstead Dept. Planning & Eco Development.

 

III. Special Sources of Funding

 

  1. Linked Deposit- NYS provides interest rate subsidies on bank loans. From ESD depending on budget allocation.
  2. Industrial Effectiveness Program (IEP)-NYS pays half the cost of a consultant to help your business become more efficient (manufacturers only) (comes with LIPA abatements). Available depending on budget allocation from ESD.
  3. Natl. Grid- subsidized loans/grants on gas efficiency equipment.
  4. “Venture Capital”- contact the LI Angel Network.
  5. Free counseling: to create and update your business plans – from Small Business Development Centers (SBDC’s) at Farmingdale and Stony Brook; entrepreneurial workshops – from Black Women Enterprises (BWE); entrepreneurial courses from Hofstra Business Development Center and Suffolk Community College Technicenter; mentoring and business counseling from members of SCORE (Service Corps. Of Retired Executives); pro bono project assistance from LIDC.

The first step is usually to talk with your bank of account to see if it has a product suitable for your needs. Generally, your banker will bring in one or more of these programs as a substitute or supplement for the bank financing. Local departments of economic development or your chamber of commerce can point you in the right direction. Alternatively, call Long Island Development Corporation, LI’s premier small business lender for a contact and phone number on any of these funding sources. 516 433 5000; biz-loans@lidc.org

Creating a Unique LinkedIn Profile

January 10th, 2012

Source:  Newsday:  January 9, 2012

LI Business/Small Business/Author: Jamie Herzlich/p. A33

Creative. Innovative. Dynamic.

All very descriptive words, but terribly trite, according to LinkedIn’s recently released 2011 list of the most overused words and phrases in member profiles.

With more than 135 million users on LinkedIn, it’s important to avoid the buzzwords and create a unique and complete profile that will help set you and your business apart, say experts.

“Your LinkedIn profile is your personal brand,” explains Erin O’Harra, a Linked-In spokeswoman in Mountain View, Calif. “You want it to be not only complete but tailored to who you are as a professional.”

With that said, here are some tips to creating a killer LinkedIn profile:

Choose words wisely:

You want to stand out, so don’t follow the pack and use tired lingo (for a list of the most overused words, see press.linkedin.com). When describing yourself, try replacing an adjective with an action word, recommends O’Harra. So perhaps instead of saying “I’m creative,” give examples of things you created, she says.

Say cheese:

 Don’t skimp on the photo. Profiles with a photo are seven times more likely to be viewed then those without, she notes.

Showcase experience:

 Be generous with your past experience. If you list at least two or more past positions, your profile is 12 times more likely to be viewed by others, says O’Harra.

Be complete:

As you fill out your profile information, LinkedIn highlights with a bar in percentage terms its level of completeness. Make sure it’s 100 percent, says Bill Corbett Jr. of Corbett Public Relations, a PR and social media consultant in Floral Park who holds LinkedIn workshops. This can help with search rankings.

Create a biz page:

Aside from your personal profile, you can create a separate corporate profile for your business, says Corbett, who has both on LinkedIn. “The more outposts on the Internet that a business can have, the better for SEO,” says Corbett. The biz page can include a company description, logo, staff and affiliates, he notes. Ask contacts and others to “follow” your page, especially if you have promotions, events or information to share, he recommends.

Update:

You want to appear to be an active participant in the LinkedIn community, says Seth Meyerowitz, chief executive of UBE Inc., an online marketing firm in Bellmore. For instance, you can connect your Twitter feed and blog to your LinkedIn page so updates appear, he says. You can add these and other applications to your profile, by clicking on “More” at the top of your page and then clicking on “get more applications.”

Create a compelling headline:

Your tagline or headline is one of the most viewed parts of your profile, says Meyerowitz. It appears under your name. Choose words carefully that people may search for and that tell people what you do. So for Meyerowitz, his headline has his title and company name but also the descriptive words “professional trainer and consultant – online presence and visibility.”

Add summary information:

Don’t overlook this in your profile, says Stephen C. Murphy, chief executive of Get Busy Media, a small-business and digital marketing consultant in Eatontown, N.J., who offers LinkedIn tips at getbusymedia.com/crush-it-on-linkedin. It helps people get to know you better and highlights your specialties, he says, noting LinkedIn now has a skills section.

Answer questions:

Don’t be afraid to interact on LinkedIn, says Murphy. Answering questions “gives you a chance to establish yourself as an expert in your given field,” he says. Access answers under the “more” tab at the top of the page and search questions by category. When your answer is selected as the “best” for a question, you get a star in your profile.

Freelance Hiring is Booming in the Cloud Job Marketplace

December 27th, 2011

According to a report published by Elance.com, online freelance hiring is up 125% from 2010. Record numbers of businesses and freelance professionals are connecting for work in the new “cloud” marketplace. Seeking contract work as a freelance professional is an excellent way to keep your resume current and earn income while still being able to conduct a full-time job search.

Here are two reputable sites to get you started:

www.elance.com          and           http://freelanceswitch.com

JobNow: A Revolutionary Service for Job Seekers

December 14th, 2011

JobNow: A revolutionary service for job seekers

 

JobNow is a unique service that features expert resume assistance, live interview preparation and career coaching.

JobNow services include:

  • Live Interview Coaching: Jobseekers get live interview practice from online job coaches.
  • Premium Resume Lab: Online resume/cover letter assistance from trained writing experts.
  • Job Resources: Users can draw from a carefully-selected library of interview tips, resume templates, career assessments, and other valuable resources.
  • Introducing Brainfuse Cloud Pack: Online storage for resumes, cover letters and other files important to your search. Files are always accessible and stored on the Brainfuse server in a secure environment.
  • 

Adult Learning Center

Designed for adult learners, our Adult Learning Center offers test preparation (including the GED and the U.S. Citizenship Tests), an expert writing lab, study tools, and a unique academic skills center featuring live, online tutors.

JobNow is made possible through a federal American Recovery and Reinvestment Act (ARRA) Broadband Technology Opportunity Program (BTOP) award funded through the New York State Education Department/New York State Library.

Access to JobNow / Adult Learning Center

Residents of New York State may use JobNow here (using a New York State Driver License or Non-Driver Photo ID) or through their local library.

Hofstra University Job Expo for Health Care & Education on December 10, 2011

December 9th, 2011

Rep. Carolyn McCarthy (D-Mineola) is hosting the Long Island Health Care Career Expo on Saturday, December 10th, to help connect local job seekers with health care employers and educators.

The expo will take place from 11 a.m. to 3 p.m. at Hofstra University‘s Student Center. Confirmed participants include North Shore-Long Island Jewish Hospital System, Winthrop-University Hospital, Nassau University Medical Center, South Nassau Communities Hospital, Adelphi University, Molloy College, Nassau Community College and Hofstra University.

According to the Long Island Association and the U.S. Department of Labor, more than 14,000 jobs in the health care industry are expected to become available on Long Island between now and 2018. McCarthy said she wants to make sure that Long Island’s workforce is prepared to get those jobs.

“While many sectors of the economy have suffered greatly during the recent economic downturn, many of the new jobs opening up on Long Island will be coming from the health care industry,” McCarthy said in a statement.

Help Create 200,000 Jobs: “Made In America”

November 30th, 2011

If each of us spent $64 dollars on one gift this holiday season that was manufactured in the United States, 200,000 jobs would be created.  See below.  For the full story, clink on the attached link to ABC News/World News tonight with Diane Sawyer–MADE IN AMERICA series. ABC News also has a link on their website for “Made in America” holiday gift ideas, which is growing each day as people add to it.  

“The average American will spend $704 on holiday gifts and goodies this year, totaling more than $465 billion, the National Retail Federation estimates. If that money was spent entirely on US made products it would create 4.6 million jobs. But it doesn’t even have to be that big. If each of us spent just $64 on American made goods during our holiday shopping, the result would be 200,000 new jobs.” ABC World News Tonight 11/29/30

http://abcnews.go.com/WN/MadeInAmerica/

ReInvention Workshop with Ann Fry

November 11th, 2011

Registration begins on Tuesday, November 15 in person or by calling
883-4400, Ext. 136 for a program that will take place on Saturday, December 3 from 10:30 a.m. to 1:30 p.m.

As presenter Ann Fry will tell you, “When you want things to be different, you need to ReEnergize, RePurpose and ReInvent as you connect with your passions and dreams.”

In Ms. Fry’s workshop, you will learn the 7½ Steps to Transcend the Status Quo Through exercises, coaching and interaction, you will go through the process and create your plan of action.
At the end of the workshop, you will be empowered with the knowledge to step into your BOLD new self!

This program is sponsored by the library’s Jobs & Careers Information Center.

Ann Fry lives in New York. She has been a psychotherapist, a college professor, and author. For the past fifteen years, Ann has established herself as The ReInvention Hotshot and has spoken at conferences and corporate meetings, and coached individuals and business executives. Ann has reinvented herself many times, most recently when she moved to New York to start over.

JOB FAIR – Wednesday, November 9th

November 8th, 2011

35 employers will be here at the library to meet with prospective employees.   to see the list of participants. Sponsored by the NYS Department of Labor and the Port Washington Public Library Jobs and Careers Center. No registration required.  Call 516-883-4400, ext. 117 for information. 10am – 1pm.

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