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Treats Pet Resort, an upscale dog and cat resort offering long and short-term boarding, web-cams, ceiling fans,
TV and other amenities, opened in Louisville in 2007. Despite experiencing sales that beat the business’ initial forecast, the building, equipment and payroll costs ran over budget resulting in severe cash flow problems within the first two years of operation.

Despite paying extra each month on past-due accounts, Treats Pet Resort could not climb out of the hole, and in 2010 banks began threatening foreclosure.

As a last-ditch attempt to save their business, the Halbleibs contacted the Louisville SBDC and requested assistance. Under the SBDC’s expert guidance, Treats Pet Resort began using the SBDC’s cash flow tool and meet- ing with consultants on a weekly basis. SBDC consultants also used Profit Cents, South Dakota software and RMA Annual Statement Studies to develop a budget, find opportunities for financial improvement and identify industry benchmarks for the client.

Within 30 days, the Halbleibs were able to contact the federal, state and local tax authorities and work out pay- ment plans. The Halbleibs also chose to cut payroll expenses and increase prices on boarding by 10 percent. Treats Pet Resort did not lose one customer from this increase and the additional revenue and expense reductions allowed them to pay down other past-due bills. As of September 2010, the Halbleibs are caught up with nearly all past-due bills.

The dedication the SBDC gave in meeting with us every single week for nearly a year was awesome. Honestly, if it were not for the SBDC I don’t think we would still be open for business. The SBDC was the best tool that we have used since we opened three years ago.

- Mike Halbleib, owner

In addition to debt management assistance, the SBDC also helped Treats Pet Resort implement a new marketing plan that has further increased revenue while keeping expenses in check. Today the Halbleibs continue to work closely with the Louisville SBDC and expect to pay off nearly all debts by June 30, 2011.

Dr. Ira J. Bates wanted to do something completely different after retiring from a 40-year career as a health care executive. “I always wanted to build my own home,” Bates said. “I wanted to retire in a 21st century home with as many features of a modern, comfortable ‘green’ building that I could think of.”

For the next six years Bates worked on building his dream home atop a hill overlooking the Red Lick Valley near Berea.

Now completed, the building features contemporary architecture and was constructed using Leadership in Energy and Environmental Design (LEED) criteria and in- novations. The home is a certified five-star energy home with geothermal heating and cooling and extensive use of day-lighting. Both natural and recycled materials from local suppliers were used whenever possible.

Once the home was completed Bates began exploring what was next on his retirement agenda. Intrigued by the concept of “green lodging,” Bates decided to share his home with others by opening a bed and breakfast. Bates worked closely with Michael Rodriguez and the Eastern Kentucky University SBDC to develop a business plan and identify what other steps had to be taken prior to opening. Bates also attended several training courses offered by the SBDC.

The Pinnacle View Inn would not have been possible without the extensive assistance of the EKU Small Business Development Center. I faced many technical problems along the way that were critical to my success. The EKU SBDC was a wonderful resource.

- Dr. Ira Bates, Owner

In May, 2010, The Pinnacle View Inn opened its doors. Today the inn provides a unique alternative to local area hotels with its eco-friendly setting and gourmet-style breakfasts. According to TripAdvisor.com’s reviewer data, the inn has garnered top billing as the highest rated place to stay in Madison County.

Bluegrass Veterinary Specialists began as a vision. Dr. Antu Radhakrishnan, Diplomate, American College of Veterinary Internal Medicine, saw the need to create a state-of-the-art regional referral center for small animals where services would be provided by board certified specialists. Prior to the formation of Bluegrass Veterinary Specialists in 2005, there were no board-certified small animal veterinary internal medicine specialists in Lexington. If a dog or cat needed a referral, pet owners had to travel to Louisville or Cincinnati.

Initially, the referral practice operated out of a remodeled 800 square foot section of Sheabel Animal Medical Center. As a referral-based business, general veterinary practitioners refer patients to the practice. Patient follow-up care is coordinated with the referring veterinarian and all general care continues to be provided by the primary referring veterinarian.

The practice quickly outgrew its space. In January 2008, Dr. Radhakrishnan approached the Bluegrass Small Business Development Center for assistance in developing a business plan and financial projections for the business expansion. Ultimately a loan package was created that was submitted to Commerce Lexington’s Access Loan Program.

Through the assistance of the Access Loan Program, Dr. Radhakrishnan was connected with local lenders. The professional and experienced staff of the SBDC enabled Dr. Radhakrishnan to create a complete, customized, and ultimately successful business proposal. The Access Loan Program simplified and expedited the ordinarily inefficient, time-consuming “loan shopping” process by providing a “one-stop loan shop” opportunity for Dr. Radhakrishnan to present his proposal to multiple lenders at one sitting. In the fast paced world of business, the SBDC and Access Loan Program provided Dr. Radhakrishnan with invaluable guidance and time management opportunities.

Today, Bluegrass Veterinary Specialists operates out of a 3,600 square foot hospital located at 1591 Winchester Road, Suite 106. The focus of the practice continues to be individualized, progressive care with an emphasis on minimally invasive diagnostics and procedures. Internal medicine services include evaluation of any and all internal organ systems, oncology evaluation and treatment, endoscopy, rhinoscopy, bronchoscopy, cystoscopy, laparoscopy, stent placement, and laser ablation. The hospital provides 24-hour care for all of its hospitalized patients. The hospital also offers board- certified specialty veterinary care in surgery and dermatology and will be offering I-131 treatments for hyperthyroid cats in the next few months.

LEXINGTON, Ky.– Governor Steve Beshear today announced a major small business initiative that will provide Kentucky’s small businesses with access to nearly $155 million in new loans to help with job creation across the state.

The Kentucky Small Business Credit Initiative involves three new small business programs implemented by the Kentucky Cabinet for Economic Development to facilitate increased private lending to Kentucky’s small businesses. The programs include: the Kentucky Capital Access Program; the Kentucky Collateral Support Program; and the Kentucky Loan Participation Program.

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The Pacesetter Business Recognition Program recognizes high-performing second stage businesses that are producing innovative products,increasing sales, creating jobs and serving communities of the Commonwealth.

Winners are selected based on their intent and capacity to add employees, grow sales, and develop innovative products along with their contributions to the community and commitment to their employees.

• Whereas, men and women who operate small businesses spur Kentucky’s economic growth by generating billions of dollars in small business income
• Whereas, small businesses provide citizens with products and services and offer Kentucky consumers a variety of options
• Whereas, small businesses generate substantial dollars in tax revenues which helps provide the state and federal governments with the money needed to operate efficiently
• Whereas, we are calling upon each of our citizens to celebrate the achievements and contributions of entrepreneurs and their employees and encourage the development of new small businesses.

Now, Therefore, I, Steve Beshear, Governor of the Commonwealth of Kentucky, do hereby proclaim May 11, 2011 as Kentucky Small Business Day.

Press Release Date: Thursday, January 20, 2011
Contact Information: Kerri Richardson Jill Midkiff
502-564-2611

Bowling Green small business creates winning design, applications now being accepted

FRANKFORT, Ky.– Gov. Steve Beshear today unveiled a new small business specialty license plate design, created to bring attention to the major role small businesses play in Kentucky’s economy. The design was selected by the Kentucky Commission on Small Business Advocacy, in cooperation with Partners for Entrepreneurial Advancement in Kentucky (PEAK), following a statewide license plate design competition launched last fall.

“Small businesses power our economy, from main street to the farm and everywhere in between,” said Gov. Beshear. “We want Kentucky to be known as an entrepreneur-friendly state, and this is just one way for us to demonstrate that message. I’m committed to helping small businesses grow and thrive in the Commonwealth. Whether it’s through our recently enacted small business tax credit program, our new minority and women-owned business enterprise certification program, or the numerous other programs and services Kentucky offers, we’re rolling out the red carpet for small businesses in Kentucky.”

The winning small business license plate design was created by Barry Arnold, lead designer for Gerald Printing, a small business with locations in Bowling Green and Russellville, Ky. Gerald Printing began business in Kentucky in 1971, and currently employs 35 people.

“We are thrilled and honored to have our design selected for the small business license plate,” said Joe Davis, president of Gerald Printing. This is a great way to start off 2011 as we prepare to celebrate our 40th year in business.”

“The Kentucky Commission on Small Business Advocacy is delighted to be a part of this initiative,” said Cathy Zion, chair of the Commission on Small Business Advocacy and a small business owner herself. “One of the goals of our commission is to raise the visibility of small businesses here in Kentucky. We envision the plates being mini-billboards promoting small business on vehicles throughout the state.”
PEAK, a statewide nonprofit organization that supports economic development through small and micro business development, will immediately begin accepting applications and payment for the specialty plate. Before production can begin, 900 applications with a $25 payment must be collected. Application forms and additional information, including a copy of the license plate design, can be found on PEAK’s website http://peakky.org/licenseplate.aspx.

“On behalf of Partners for Entrepreneurial Advancement in Kentucky, we would like to thank Governor Beshear and the Kentucky Commission on Small Business Advocacy for sponsoring and supporting the specialty small business license plate initiative,” said Tyrone Tyra, a board member of both PEAK and the Commission on Small Business Advocacy. “Small businesses play a vital role in our state’s economy and this license plate communicates that importance. We look forward to participating in this worthwhile endeavor and, with proceeds generated from the plate sales, encouraging small and micro business development throughout the Commonwealth.”

November 17, 2010

MEDIA CONTACT:
Marilyn Clark
LGUCG minority business enterprise liaison
859-258-3323

Minority and Women Construction Training Program Accepting Applications

Lexington-Fayette Urban County Government (LFUCG) is accepting applications for the Lexington Minority and Women Construction Training Program. The program kicks off January 11, 2011. Classes will be held at the Government Center, 200 East Main Street, from 5:30 to 8:30 p.m.

The ten-week program is sponsored by the Kentucky Small Business Development Center (KSBDC), the Lexington-Fayette Urban County Government, Fayette County Public Schools, and the Bluegrass Airport.

“The program is designed to help minorities and women successfully compete in the construction industry,” said Marilyn Clark, Minority Business Enterprise Liaison. “This is a serious commitment of time for the businesses who participate. Classes will meet for three hours once a week for ten weeks. We are pleased to have classes taught by Dr. Scott Arias, an Eastern Kentucky University Professor well versed in construction management as the primary instructor along with other business experts.”

Topics will include: business planning; business and contract law; insurance and surety bonds; accounting and financial management; drawings and specifications; estimating and bidding; planning and project safety; scheduling; cost management; project cash flow analysis; claims; alternative dispute resolution; administration, management and subcontracts; contracts and documentation. Boxed lunches will be served each night.

“We are specifically targeting existing businesses that understand the nuts and bolts of their craft and want the technical, managerial and entrepreneurial skills to take their business to the next level. We know from past experience, the improvement of business management skills prevents potential problems and increases the likelihood of business success,” said Dee Dee Harbut, director for special programs at the Kentucky Small Business Development Center.

Applications will be sent to women and minority-owned businesses listed in data bases maintained by the LFUCG, the Bluegrass Airport, Fayette County Public Schools and the Small Business Development Center as well as other agencies that work with small business development. Applications can also be obtained on the government’s website.

“The deadline for submitting an application is December 10. The minimal cost to each participant chosen for the program is $50, Clark said. The class is open to a maximum of 15 companies.”

For more information, email or call Marilyn Clark, 859-258-3320 or Dee Dee Harbut, 859-257-7668.

Learn how the Small Business Jobs Act can assist Veteran Owned Businesses and Veterans considering entrepreneurship at the October 26 Veteran Owned Business Forum in Richmond, KY. Registration is free. Click the image above to register online.

Does your business qualify for the healthcare law’s new small business tax credit on health insurance? If so, how big is your credit? For more information, visit NFIB’s interactive calculator to learn more.