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The deadline for minority and women-owned businesses to apply for a program to help them compete in the construction business has been extended to December 9, 2011. The classes will begin January 10, 2012.

The Lexington Minority and Women Contractor Training Program is in its second year. It is a 10-week program that covers topics ranging from estimating and bidding to subcontracting. It will again be held at the Lexington-Fayette Urban County Government Center, 200 East Main Street.

The program teaches skills that will help minority and women-owned businesses and is sponsored by the Kentucky Small Business Development Center, Bluegrass Airport, Messer Construction Co., BEX Construction, the Fayette County Public Schools and the Lexington-Fayette Urban County Government. A new sponsor, the University of Kentucky Facilities Management, has been added.

“These partnerships have reignited this program and we are definitely seeing results. We have seen a number of last year’s participants get contracts as a direct result of them attending the workshops,” said Dee Dee Harbut, director for special programs with the Kentucky Small Business Development Center.

The program is coordinated by Marilyn Clark, the LFUCG’s minority business enterprise liaison. Classes will be held from 5:30-8:30 p.m. Tuesdays. To qualify, you must be a minority or woman-owned business with a 51 percent ownership in the construction or construction-related industry. The cost is $100 for companies accepted into the program. A boxed dinner is provided each night.

The benefits from the classes continue after the program concludes, Clark said. “At the end of the program, we met with participants to assess their needs. Based on their responses, we decided as a group to extend our relationship with each business over the course of this year. We meet quarterly to assist them with more education and work diligently to connect them with opportunities. It is rewarding to hear about business they have landed as a result,” Clark said.

For more information, contact Marilyn Clark at 859-258-3323 or Dee Dee Harbut at at 859-257-7668.

Download the application for admission.

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.

Gov. Beshear announced the initiative at the Coldstream Center, part of the University of Kentucky’s Coldstream Research Campus, in Lexington with lawmakers, business leaders and United States Treasurer Rosie Rios. The Coldstream Center houses 25 small businesses with more than 300 employees. Several of these businesses are recipients of federal small business grants.

“This program is great news for the Commonwealth and another critical step in the right direction toward improving the Kentucky economy,” Gov. Beshear said. “We want all of our families working, and we know small businesses are incubators for new jobs in our state.  The small business credit initiative gives these small businesses an easier path to create those new positions. Economic development officials and business leaders deserve credit for working closely to establish the overall program.”

The increased access to capital stems from the state’s successful application for $15,487,998 in federal funds from the U.S. Department of Treasury through the State Small Business Credit Initiative (SSBCI). The funds, which will be leveraged 10-1 with private lender funds to generate almost $155 million, are part of the Small Business Jobs Act of 2010 passed in September 2010.

Under the Small Business Jobs Act, Kentucky can access $15.5 million in SSBCI funds. Kentucky expects to generate a minimum “bang for the buck” of at least $10 in new private lending for every $1 in federal funding. As such, this $15.5 million allocation for Kentucky is expected to support nearly $155 million in new private lending to small businesses in that state.

Economic Development Cabinet Secretary Larry Hayes filed the application on behalf of the Commonwealth. In planning the program, cabinet staff consulted with private lenders of all sizes, public-policy makers, Kentucky small business organizations, U.S. Department of Treasury officials and other states’ economic development officials.

“Based on our research of other states’ existing credit support programs and Kentucky’s small business programs, we anticipate these new programs will offer the broadest solution to the current credit issues facing Kentucky small business owners and entrepreneurs,” Hayes said.

The Kentucky Economic Development Finance Authority (KEDFA), a board established within the cabinet, has been designated to accept the $15.5 in funds and administer the new credit support programs.

“As one of the largest Kentucky-based community banks and a leading lender to small businesses, we are confident that the SSBCI programs will provide much needed capital to ensure continued growth opportunities for home grown businesses that play such an important role in communities throughout the Commonwealth,” said Steve Trager, chairman and CEO of Republic Bank.

“Kentucky Highlands Investment Corporation has worked closely with the cabinet for economic development on numerous projects to help attract, start and expand businesses,” said Jerry Rickett, president and CEO of Kentucky Highlands Investment Corporation. “These three credit enhancement programs developed within the Kentucky Small Business Credit Initiative are sure to improve many entrepreneurs’ ability to access funding, grow their operations and hire workers.  We fully support the Kentucky SSBCI programs and applaud the governor and the cabinet for economic development for their hard work in applying for these funds.”

“The Kentucky Small Business Development Center works side by side with entrepreneurs across our Commonwealth and understands the challenges that they are having when it comes to acquiring the funding necessary to grow operations and hire workers,” said Becky Naugle, state director of the Kentucky Small Business Development Center. “With that in mind, we look forward to working closely with the cabinet for economic development and are very pleased to support the new credit enhancement programs developed within its Kentucky Small Business Credit Initiative.”

“These funds will provide a powerful spark for investment, growth, and job creation in Kentucky,” Treasurer Rios said. “This initiative will help ensure that more Main Street small businesses have access to the loans they need to expand, invest, and hire in their local communities.”

Program Part of Continued Effort to Support Small Businesses
The initiative is the latest of several recent small business programs implemented by Gov. Beshear’s administration. In January 2011, KEDFA began accepting applications through the Kentucky Small Business Investment Tax Credit program, part of the Governor’s 2009 INK legislation.  Additionally, the Governor’s Kentucky Export Initiative, launched in late 2010, is helping to increase exporting activity among Kentucky small and medium-sized businesses. Gov. Beshear also recently launched Kentucky’s first Minority and Women Business Enterprise Certification Program, as well as unveiled a specialty license plate promoting Kentucky small business.

The One-Stop Business Portal is also in development, which will provide small businesses with one resource for starting and running a business in the Commonwealth.  In order to make all of these programs effective, the governor has tasked the cabinet to partner with private and public sector small business assistance agencies across the Commonwealth to assure a consistent and comprehensive network that will meet small business needs.

“We must continue to look for ways to encourage the growth and stability of small business,” said Sen. Alice Forgy Kerr, of Lexington. “I know small businesses are the lifeblood of Kentucky. By strengthening them, we can keep jobs in Kentucky and recruit more jobs to our state.”
“Gov. Beshear is working hard to guide Kentucky through these tough economic times,” said Rep. Ruth Ann Palumbo, of Lexington. “These monies will provide millions of dollars for small businesses to create new jobs in our Commonwealth.”

“As a longtime advocate for small business, I can see this initiative helping to create jobs all over Kentucky,” said Rep. Tanya Pullin, of South Shore. “This announcement could not come at a better time for small business. I want to thank U.S. Treasurer Rosie Rios, Gov. Beshear and the Kentucky Cabinet for Economic Development for their attention to small businesses. Today’s announcement will long be remembered as a high point for small business job creation.”

For further information about the State Small Business Credit Initiative, visit http://www.ustreas.gov/offices/domestic-finance/ssbci/.

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.