Schedule at a Glance

Noon – 7 p.m.

Registration

Preconference training sessions

1:00 p.m. – 5:00 p.m.

Developing Entrepreneurial Communities—Planning for Success

This interactive seminar guided participants through a four-step evaluation and action process designed to enhance their community’s entrepreneurial performance. Participants determined a three-year vision and:

• evaluated where they are today and where they want to be
  three years from now;
• evaluated where they are in the planning process by assessing
  what plans are not in place, how they can be created and
  how to adjust existing plans to maximize success;
• translated goals into action: nail down the actions and
  resources the community needs to reach its three-year vision.

Moderator:
Glenda Wilson, assistant vice president and community affairs officer, Federal Reserve Bank of St. Louis

Presenters:
Sally Smith and Tina Sterling, T C Strategies (presentation, PDF = 920 Kb)

3:00 p.m. – 5:00 p.m.

Small Business Finance in the 21st Century

This seminar featured three sections:

• an overview of small business financing patterns, loan
  markets and borrowers
  
  Presenter:
  Charles Ou, economist, Office of Economic Research, U.S. Small Business Administration (presentation, PDF = 824 Kb)
  
• a regulatory update by Federal Reserve safety and soundness and consumer affairs examiners
  
  Presenters:
  Henry Dove, supervisory examiner, Bank Supervision and Regulation, (presentation, PDF = 40 Kb )
  Consumer Affairs, Federal Reserve Bank of St. Louis
  William Samisch, directing examiner/deputy office manager, Bank Supervision and Regulation, Federal Reserve Bank of St. Louis, Memphis Branch (presentation, PDF = 829 Kb)
  
• a banker’s perspective
  
  Presenter:
  Bruce Morgan, president and CEO, Valley State Bank and member of the Federal Reserve System’s Consumer Advisory Council

Moderator:
Matthew Ashby, community affairs specialist, Federal Reserve Bank of St. Louis

5:30 p.m. – 7:00 p.m.

Welcome Reception: “Barbecue, Blues and You!”

Resource Fair/Exhibitors

7:30 a.m.

Registration opens and will remain open until 5:00 p.m.

7:30 a.m. – 8:30 a.m.

Continental Breakfast

8:30 a.m. – 9:30 a.m.

Opening Plenary

Debbi Fields, founder, Mrs. Fields Cookies (presentation, PDF = 112 Kb)

“Her First Secret Recipe: Making It Against All Odds”

Debbi Fields epitomizes the American entrepreneur. At the age of 20, with no business experience, she convinced a bank to finance an unproven business concept: a chocolate chip cookie bakeshop and store. On Aug. 16, 1977, Mrs. Fields Chocolate Chippery opened its doors in Palo Alto, Calif. Twenty-plus years later, Fields had moved from managing one shop to supervising operations of Mrs. Fields Cookies, a $450 million company with 600-plus company-owned and franchise stores in the United States and 10 foreign countries. Fields has since sold her company, which is a market leader among fresh-baked cookie stores.

9:30 a.m. – 10:45 a.m.

Concurrent Sessions

Minority and Youth Entrepreneurship Policies

Some of the tremendous entrepreneurial potential of minority ethnic groups, women and youth continues to be untapped. Participants explored programs that create and promote policies, networks and systems, including those in rural areas, that feed minority and youth entrepreneurship.

Moderator:
Ellen Eubank, community affairs manager, Federal Reserve Bank of St. Louis, Memphis Branch

Presenters:
Paul DeLargy, president, Georgia REAL Enterprises (presentation, PDF = 532 Kb)
Cathy McClelland, president and CEO, Detroit Entrepreneurship Institute

Start-up Finance

Bootstrapping for the entrepreneur: Participants received the latest information on where money comes from to start a business. How can leaders facilitate or make improvements to the availability of capital and credit for entrepreneurs in their towns, cities and states?

Moderator:
Sharon Oamek, senior community affairs advisor, Federal Reserve Bank of Kansas City, Omaha Branch

Presenters:
George Lipper, editor, NetNews, National Association of Seed and Venture Funds (presentation, PDF = 248 Kb)
Bruce Morgan, president and CEO, Valley State Bank (presentation, PDF = 60 Kb)

New Partnerships

Partnerships can open doors for entrepreneurs and leverage funds from government, industry and higher education. Partnerships can be the key to creating the right climate for entrepreneurship. Participants discovered how to create a collaborative environment that can provide fertile ground for such partnerships.

Moderator:
Matthew Ashby, community affairs specialist, Federal Reserve Bank of St. Louis

Presenters:
Carter Dunkin, senior vice president, Advantage Capital Partners (presentation, PDF = 224 Kb)
Dennis West, president and CEO, Northern Initiatives (presentation, PDF = 912 Kb)

Integrating Entrepreneurship, Microenterprise Development and Asset Building in Low-Income Communities

During this workshop, review successful examples of how community-based organizations have integrated microenterprise and other asset-building tools (individual development accounts, the Earned-Income Tax Credit, and other savings and credit products) to increase the financial security of low-income families.

Moderator:
Lyn Haralson, community affairs specialist, Federal Reserve Bank of St. Louis, Little Rock Branch

Presenter:
Jason Friedman, senior manager for training and education, Association for Enterprise Opportunity (presentation, PDF = 254 Kb)

10:45 a.m. – 11:00 a.m.

Break

11:00 a.m. – 12:15 p.m.

Concurrent Sessions

Urban Policy Issues and Entrepreneurship

Health insurance, real estate zoning, regulatory barriers and urban growth patterns are some of the issues especially pertinent to entrepreneurship in urban areas. Participants discussed the impact of such issues on the ability of entrepreneurs to succeed and the role of small business in urban neighborhoods.

Moderator:
Lisa Locke, community affairs specialist, Federal Reserve Bank of St. Louis, Louisville Branch

Presenters:
Carol Coletta, host and producer, Smart City syndicated radio program
Michael Levinson, director, Businesses United for Independent Local Development (BUILD) St. Louis
Kris Kleindienst, board member, BUILD St. Louis and co-owner, Left Bank Books (presentation, PDF = 1.06 Mb)

Entrepreneurship in the Economy

Participants heard about research on the role of entrepreneurship in innovation and economic growth. Communities, regions and states nurture enterprise by initiating activities that involve more risk than usual and by being prepared to engage in economic growth and development that may be more complicated.

Moderator/Presenter:
Alyse Freilich, senior analyst, Ewing Marion Kauffman Foundation (presentation, PPT= 484Kb)

Presenter:
Jerome Katz, professor of management, Saint Louis University (presentation, PDF = 792 KB)

Working Capital

The availability of working capital influences the character and scope of businesses. This session looked at the sources for working capital and the current state of equity, trade creditors, factoring, lines of credit and short-term loans.

Moderator:
Dena Owens, community affairs specialist, Federal Reserve Bank of St. Louis, Memphis Branch

Presenters:
Travis Flenniken, chartered financial analyst and manager, Memphis Business Opportunity Fund, Southeast Community Capital Corp.
Richard Palank, senior vice president of business finance, St. Louis County Economic Council, and chief operating officer, Business Finance Corp. of St. Louis County, Mo.
Melvin Travis, owner, Melvin Travis, CPA

The Mindset of the Entrepreneur

This workshop helped lenders understand the characteristics of entrepreneurs. By discussing what successful entrepreneurs do, how they think and how they build businesses, a benchmark can be established for gauging the potential for success of would-be entrepreneurs.

Moderator:
Glenda Wilson, assistant vice president and community affairs officer, Federal Reserve Bank of St. Louis

Presenters:
Sally Smith and Tina Sterling, T C Strategies (presentation, PDF = 208 Kb)

Access to Markets

Entrepreneurs must have a viable market for their products and services. Customized technical assistance, value-added networks, supplier chains and other activities and techniques help entrepreneurs tap new markets.

Moderator:
Kimberly Pate, director of field development, CFED

Presenters:
June Holley, president and founder, Appalachian Center for Economic Networks
Ines Polonius, executive director, alt.Consulting

12:30 p.m. – 1:30 p.m.

Lunch

Speaker: William Poole, president, Federal Reserve Bank of St. Louis

“Staying Out of the Way of Entrepreneurs”

William Poole is president and chief executive officer of the Federal Reserve Bank of St. Louis, one of 12 regional Reserve Banks. Poole directs the activities of the Bank’s head office in St. Louis, as well as its three branches in Little Rock, Ark.; Louisville, Ky.; and Memphis, Tenn. In addition, he represents the Bank on the Federal Open Market Committee, the Federal Reserve’s chief monetary policy-making body.

Introduction: Martha Perine Beard, senior branch executive, Federal Reserve Bank of St. Louis, Memphis Branch

1:30 p.m. – 1:45 p.m.

Break

1:45 p.m. – 3:00 p.m.

Concurrent Sessions

Rural Entrepreneurship

Workshop participants hear about policy issues that are unique and relevant to smaller communities and rural and isolated areas, including access to technology. What alternatives are there to traditional smokestack chasing and business recruitment from other areas that could produce long-term results?

Moderator:
Faith Weekly, community affairs specialist, Federal Reserve Bank of St. Louis, Louisville Branch

Presenter:
Deborah Markley, co-director, Center for Rural Entrepreneurship (presentation, PDF = 107 Kb)

High Growth and Expansion Financing

Venture capital fuels much of the entrepreneurial expansion today. Understand the options for high-growth financing and what those sources are looking for as they make investment decisions.

Moderator:
Jean Morisseau-Kuni, community affairs analyst, Federal Reserve Bank of St. Louis

Presenters:
Thomas Melzer, managing director, RiverVest Venture Partners (presentation, PDF = 158 Kb)
Don Mundie, managing partner, Delta Capital Management (presentation, PDF = 124 Kb)
Michael Smith, Jr., managing director, MS Partners (presentation, PDF = 268 Kb)

Building an Alternative Finance Lending Team

Microlenders, credit unions, revolving loan funds, community development financial institutions: Financing comes from many sources and some may be new. Participants learned how to build a lending team that includes nontraditional partners.

Moderator:
Ellen Eubank, community affairs manager, Federal Reserve Bank of St. Louis, Memphis Branch

Presenters:
Burt Chojnowski, board member, Iowa Capital Investment Board
Jeffrey Higgs, executive director, LeMoyne-Owen College Community Development Corp.
Keva Irvin, director, Memphis Opportunity Banc

The Business Plan—Fact or Fiction?

Why are business plans so important? How is a business plan analyzed to determine the level of risk involved in a business? What questions should be asked? This workshop, designed for small business lenders, focused on the two aspects of the business plan: (1) the elements or information a good business plan should contain and (2) how to analyze the business plan. Participants receive a tool that helps evaluate business plans.

Moderator:
Glenda Wilson, assistant vice president and community affairs officer, Federal Reserve Bank of St. Louis

Presenters:
Sally Smith and Tina Sterling, T C Strategies

3:00 p.m. – 3:15 p.m.

Break

3:15 p.m. – 4:45 p.m.

Research Plenary

Creating a Policy Environment for Entrepreneurs
Presenters:
Thomas Garrett, senior economist, Federal Reserve Bank of St. Louis
Howard Wall, assistant vice president, Federal Reserve Bank of St. Louis

Where Are Rural America’s High-Value Entrepreneurs? A Spatial Analysis
Presenter:
Jason Henderson, senior economist, Federal Reserve Bank of Kansas City (presentation, PDF = 1.67 Mb)

Growing Entrepreneurs from the Ground Up: The Missouri Rural Entrepreneurship Initiative
Presenters:
Thomas Johnson, director, Community Policy Analysis Center, University of Missouri-Columbia
Vickie Rightmyre, director, Growing Entrepreneurs (presentation, PDF = 224 Kb)

Moderator:
Alyse Freilich, senior analyst, Ewing Marion Kauffman Foundation

7:30 a.m.

Registration opens

7:30 a.m. – 8:30 a.m.

Continental breakfast with facilitated discussion led by Andrea Levere, president of CFED

“Making Entrepreneurship Real in Your Community: Strategies for Action”

Andrea Levere has overall management responsibilities for the consistent pursuit of CFED’s mission, for its long-term strategies and its day-to-day operations. Additionally, Levere directs the Local Capital Markets Investment Fund. The fund is a CFED initiative that invests in the development of products that strengthen the performance of development finance institutions in low-income communities. Levere also supervises the National Fund for Enterprise Development, a wholly-owned subsidiary of CFED and a certified national CDFI intermediary. She also provides consulting and training services to institutions engaged in community development finance.

8:30 a.m. – 9:45 a.m.

Concurrent Sessions

Technology Transfer and Institutions of Higher Education

Many colleges and universities are on the forefront of privatizing research and creating viable small businesses. Participants heard how these institutions work with incubators and other programs to facilitate technology transfers and help entrepreneurs translate knowledge into businesses.

Moderator:
Dena Owens, community affairs specialist, Federal Reserve Bank of St. Louis, Memphis Branch

Presenters:
Steven J. Bares, president and executive director, Memphis Biotech Foundation
Jerry Damerow, associate director, Biomedical Biotechnology Center, University of Arkansas for Medical Sciences
Mildred Holley, technology programs manager, Arkansas Small Business Development Center, University of Arkansas at Little Rock
Joseph Jankowski, assistant vice president of Biomedical Sciences, Case Western Reserve University, Technology Transfer Office

Social Entrepreneurship

Enterprising nonprofits are generating revenue to support a social mission. What is the role of the nonprofit sector in enterprise development? During this workshop, participants found out about the current landscape in social entrepreneurship and how private enterprises are breathing new life into public programs.

Moderator:
Matthew Ashby, community affairs specialist, Federal Reserve Bank of St. Louis

Presenter:
Margie Brand, venture catalyst, EcoVentures International

Investment Tax Credits

Participants learned how tax credit programs, such as the New Market Tax Credits, Enterprise Zone Tax Credits and the Rural Strategies Investment Program, are being used to start and grow small businesses.

Moderator:
Lyn Haralson, community affairs specialist, Federal Reserve Bank of St. Louis, Little Rock Branch

Presenters:
Alan Branson, executive vice president for programs, Enterprise Corporation of the Delta and Hope Community Credit Union
Les Lane, vice president of finance, Arkansas Science and Technology Authority
Dottie Jones, administrator, Office of Intergovernmental Relations, City of Memphis
Donna Raynalds, executive director, Southernmost Illinois Delta Empowerment Zone

Collaborations to Build Regional Technology Infrastructure

The right infrastructure is vital to the success of entrepreneurship. And access to the latest technology is especially important to entrepreneurs in the 2lst century. Participants learned how regional technology centers have been established and how clusters have been used to build efficiencies for small businesses.

Moderator:
Kimberly Pate, director of field development, CFED

Presenters:
Jason Friedman, senior manager for training and education, Association for Enterprise Opportunity (presentation, PDF = 135 Kb )
J. Trent Williams, principal, Regional Technology Strategies (presentation, PDF = 160 Kb )

9:45 a.m. – 10:00 a.m.

Break

10:00 a.m. – 11:15 a.m.

Concurrent Sessions

Differentiating National, State, Regional and Local Policies

Participants learned about the interplay of national, state, regional and local policies in the advancement of entrepreneurship. They also discovered how policy-makers at all levels have worked together to layer programs to create a viable entrepreneurship strategy.

Moderator:
Lisa Locke, community affairs specialist, Federal Reserve Bank of St. Louis, Louisville Branch

Presenters:
Alan Branson, executive vice president for programs, Enterprise Corporation of the Delta and Hope Community Credit Union
Deborah Markley, co-director, Center for Rural Entrepreneurship (presentation, PPT = 676 Kb)
William Schweke, vice president, learning and innovation, CFED

Small Business Administration and Small Business Investment Companies

The Small Business Administration seeks to stimulate and support business growth and innovation. Participants heard information on its newest programs and tools, such as Small Business Investment Companies and how they can be used to advance enterprise.

Moderator:
Amy Simpkins, community affairs specialist, Federal Reserve Bank of St. Louis, Little Rock Branch

Presenters:
Richard Derickson, president, Hiwasse Manufacturing Co.
Sam Hinton, senior vice president of small business development, Metropolitan National Bank
Linda Nelson, district director, Small Business Administration (presentation, PDF = 248Kb )

Policies That Attract Investments

The only bad thing about incentives is that they may not produce the desired results. What is working to attract investors to entrepreneurs and entrepreneurship development systems? How can policy-makers and other stakeholders create a welcoming environment for investments in enterprise?

Moderator:
Sharon Oamek, senior community affairs advisor, Federal Reserve Bank of Kansas City, Omaha Branch

Presenters:
Dick Gardner, member, Idaho Non-Profit Development Center
Erik Pages, president, EntreWorks Consulting (presentation, PDF = 148 Kb )

Innovative Networks, Regional Systems, and Angel Investors

Many entrepreneurs lack capital to start and expand their businesses, particularly capital that is suited to their needs. Participants heard about new financial products and services designed expressly for entrepreneurs, including loans, peer lending circles, integrated savings and credit, and growth capital.

Moderator:
Kimberly Pate, director of field development, CFED

Presenters:
Andrea Levere, president, CFED
Carolyn Perry, director, North Carolina Microenterprise Loan Program (presentation, PDF = 494 Kb)

11:15 a.m. – 11:30 a.m.

Break

11:30 a.m. – 1:00 p.m.

Lunch

Speaker: Richard Florida, professor of public policy, George Mason University and author of The Creative Class

“The Rise of the Creative Class”

Richard Florida, professor of public policy at George Mason University, sees human creativity as “the ultimate economic resource.” In his 2002 award-winning best-seller, The Rise of the Creative Class, Florida proposes that human creativity offers “unparalleled opportunity to raise our living standards, build a more humane and sustainable economy, and make our lives more complete.” In addition to his teaching responsibilities at George Mason, he is a nonresident senior fellow at the Brookings Institution. Florida also is the founder and principal of two companies: the Creativity Group, an innovative communications and strategies team; and Catalytix, a strategy-consulting firm. (presentation, PDF = 124 Kb )

Introduction:
Ellen Eubank, community affairs manager, Federal Reserve Bank of St. Louis, Memphis Branch

1:00 p.m. – 1:15 p.m.

Break

1:15 p.m. – 2:30 p.m.

Plenary: Local and national perspectives on entrepreneurship

To prosper in the global economy, states, regions and communities must take actions to develop a supportive environment for entrepreneurship. Before striking the final note on the Memphis conference, participants heard from three highly regarded experts in entrepreneurship policy and practice.

Moderator:
James Ballentine, director of community development and director of the Center for Community Development, American Bankers Association

Presenters:
Brian Dabson, associate director, Rural Policy Research Institute (presentation, PDF = 78 Kb)
Eric Ervin, GIS analyst, City of Littleton, Colo. (presentation, PDF = 41 Kb)
Samuel Leiken, senior policy analyst, Center for Best Practices, National Governors Association

2:30 p.m.

Adjourn