Feb. 16, 2009, was the first of many datelines for EntrePaducah. It was my first day on the job, and little did I know what a rewarding, challenging year it would be. As we enter our second year serving the community, I’d like to share some of EntrePaducah’s first-year highlights.

Visibility

One of the first tasks was to make ourselves known in the community. The EntrePaducah Advisory Board and Paducah Area Chamber of Commerce had already put this plan into motion, volunteering to conduct the first EntreForum events — free, small-group seminars for business assistance and networking — in 2008. We’ve since produced six EntreForums, plus a Social Media Seminar for small businesses

EntrePaducah has also been mentioned in several news stories on entrepreneurism, and I’ve shared our mission from time to time in this monthly publication. I’ve been welcomed as guest speaker at several civic clubs and community functions, including events that EntrePaducah co-sponsors, such as the Murray State University POINT meeting for information technology professionals, as well as various MSU Small Business Development Center seminars.

Our local government offices regularly refer business start-up inquires to EntrePaducah, as does the chamber and Greater Paducah Economic Development Council. Our visibility also extends to www.entrepaducah.com, where you’ll find a basic description of the organization and a link to our Blog. You can also “friend” us on Facebook.

Networking

Another mission is to network with other economic development agencies to help entrepreneurs identify as many beneficial resources as possible. Throughout the year, we’ve partnered with Murray State, the SBDC, GPEDC, Purchase Area Development District, Kentucky Economic Development Cabinet and others to conduct public information sessions or simply meet one-on-one with entrepreneurs.

Our partnership with Kentucky’s Department of Innovation & Commercialization through the Kentucky Science & Technology Corp. produced a substantial grant award to a local technology-driven company. By cooperating with our fellow economic development professionals, we hope to create a unity recognized statewide as a model for economic growth. EntrePaducah’s focus on small business hopes to complement GPEDC’s focus on industrial recruitment and the chamber’s business advocacy to offer 360 degrees of assistance to our business community.

The recession hit home at several local businesses in 2009. Of the roughly 70 clients EntrePaducah has worked with so far, almost 20 percent were existing businesses needing various types of help to become stabilized. Being sensitive to the difficulty of job displacement, EntrePaducah reached out to dozens of laid-off workers to offer assistance should they attempt to open a new business.

Business start-ups

Part of EntrePaducah’s focus is to help create technology-driven businesses. Through a partnership with the state Innovation and Commercialization Department and Murray State, EntrePaducah hired a technology concierge in July. Rich Davis came to EntrePaducah to work closely with local tech-related entrepreneurs. His arsenal includes knowledge of business plan preparation, a co-major in information management, and the resources of the Kentucky Science & Technology Corp. for grant and investment capital opportunities.

To help Rich identify and support those tech entrepreneurs, EntrePaducah formed a Technology Think Tank in October to offer insight and resources. The 12-member group consists of professionals from medical, agriculture, marine, energy, education and IT communities. Their volunteer involvement is yet another testament to the commitment many Paducah residents have to the future of their community.

Culture change

Culture change is another major initiative for EntrePaducah. Part of the philosophy of homegrown economic development is to foster a culture that educates, promotes and supports entrepreneurs.

One of my highlights was judging the Farley Elementary Entrepreneurial Fair competition. Those fifth-grade students amazed me. Their knowledge of business planning, computing break-even points, and marketing was fascinating, especially for their age. Their teachers deserve a special thanks from EntrePaducah, and we urge them to tell others of their achievements.

Culture change will only come through a collective effort to teach our children economics and basic business principles. Knowledge is power, and we want our area students to have the confidence (power) to pursue business ownership, if it fits into their life plans. As the students grow, they’ll be ready for the advanced opportunities offered at local colleges.

MSU has recently devoted vast resources to its entrepreneurship program, and West Kentucky Community & Technical College’s Emerging Technology Center will offer tech-driven entrepreneurs research opportunities. EntrePaducah is fortunate to have the support of both institutions as a resource for our clients.

Another culture change initiative is through the chamber. At each Power in Partnership breakfast, we’ve saluted an Entrepreneur of the Month. Recognition helps local entrepreneurs know the community appreciates and supports them. It also tells upcoming entrepreneurs, or those considering moving to Paducah, that our community is supportive.

Strong board

EntrePaducah’s vision began three years ago through a volunteer committee formed to help identify future economic development needs in the community. Today our advisory board still guides and directs our activities, and opens doors to resources to help entrepreneurs. Board members are Phil McIntosh, chairman; David Mast, Dwane Tucker, Bruce Brockenborough, Sandra Wilson, Jim Conn, Basil Drossos, Susan Guess, Glen Anderson, Elaine Spalding, LaDonna McCuan, Jim Zumwalt, Doug Harnice, Kristin Williams, and Joe Framptom. Our strategic and financial partners are the City of Paducah, McCracken Fiscal Court, Paducah Chamber, GPEDC and Murray State.

We look forward to helping many more clients fulfill their dreams of business ownership. With continued support, we hope to create many, many more opportunities to “Buy Local.”

Terry Reeves is the concierge for EntrePaducah, a joint effort by Paducah and McCracken County governments, the Paducah Area Chamber of Commerce and Greater Paducah Economic Development Council to foster small-business growth. Contact him at 443-1746 or treeves@entrepaducah.com.