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STRATiCOM Minnesota Startup and Small Business Consulting
Small Business Weekly Update

      August 20, 2009 

 
In This Issue
ECONOMICS & FINANCE
Small Business Bankruptcy Climbs 81% in June
Minnesota Chamber offering small business funding
Venture capital industry sees glimmers of hope but is still in a deep slump
Analysis: Recession hits Minnesota hard
-------------------------------------
TECHNOLOGY
HOW TO: Use Facebook for Professional Networking
Social networking shakes up ad agencies
Local businesspeople say online tools are critical amid recession
-------------------------------------
SMALL BUSINESS RESOURCES
Some Career Tips for Joining The Start-up Economy
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STRATiCOM is a fully integrated business management consulting company focusing on startups and small businesses.

Our team of executives - experienced in the fields of Marketing, Human Resources, Finance and Information Systems/Technology - allow small busi­nesses to have a collection of seasoned professionals evaluate all aspects of a company.
 
Let us help you develop a coordinated approach to either launching your business, or improving your existing business's results.
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Contact Information
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(612) 269-7300  
STRATiCOM's Small Business Weekly Update newsletter has returned from a short summer break, ready to monitor multiple news feeds, and summarize the important stories for our network of business partners and clients.  
 
We have some exciting announcements coming in the the next few weeks, so be sure to look for them in future issues.
 
As always, if your company is interested in having STRATiCOM generate a similar newsletter for your clients, please contact us using the link below.
  
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ECONOMICS & FINANCE
Small Business Bankruptcy Climbs 81% in June
The economy may be on the slow mend going forward, but looking back to June paints a very different picture.  Equifax reported that bankruptcy filings for small businesses rose 81% from the previous year for the country's 25 million small businesses.
(August 12, 2009 - FindLaw)
Minnesota Chamber offering small business funding
Nearly 70 small businesses in Minnesota received more than $4.3 million in grants and loans distributed by the Minnesota Chamber Foundation.  Funding for the loans and grants was provided by the Pohlad Family Foundation.  A second round of funds are available, totaling $1 million.
(August 14, 2009 - DL-Online)
Venture capital industry sees glimmers of hope but is still in a deep slump
...Glimmers of hope are found in a mild rebound of IPO registrations with the Securities and Exchange Commission, which had dropped to zero in the first quarter of 2009. Fortinet, a Sunnyvale computer security firm, and Mirion Technologies, a San Ramon company that makes radiation-detection devices, recently joined a flurry of registrations. But many companies that signal intentions by registering for an IPO don't follow through with the Wall Street debut.
 
"We are seeing more positive signs than at the beginning of the year," said Mark Heesen, president and CEO of the National Venture Capital Association. The group has tried to rally its membership around a series of private-sector and public-policy initiatives that it says will revive the IPO market.  But more than a year after the NVCA first warned of a "crisis in capital markets," Silicon Valley's startup economy seems to be crawling through a financial desert.
(August 14, 2009 - San Jose Mercury News)
Analysis: Recession hits Minnesota hard
Minnesota trails much of the nation when it comes to coping with the recession, according to an analysis by American City Business Journals.  The North Star State was 39th among a ranking of 50 states and the District of Columbia.
(August 17, 2009 - Minneapolis / St. Paul Business Journal)
 
TECHNOLOGY
HOW TO: Use Facebook for Professional Networking
In this post we'll talk about how to setup your Facebook for professional use, how to find others to network with, Facebook features that work for professional networking, and ways to maximize the value from those features.
(August 14, 2009 - malarkynews)
Social networking shakes up ad agencies
The rise of social media sites such as Facebook, YouTube and Twitter is transforming the nature of Twin Cities advertising firms.

Call it social media, or digital, or interactive, or customer engagement. Marketing work in that area now makes up a quarter to a third of revenue for major marketing firms; it accounted for less than 10 percent two years ago.
(August 14, 2009 - Minneapolis / St. Paul Business Journal)
Local businesspeople say online tools are critical amid recession
..."The age of the business card is over," said Lusher, who now reports having 400 business partners.
 
In today's market, a more comprehensive, multi-faceted approach for business networking has emerged -- one that actuates both online and offline tools, according to business experts. And some say, the transformation has been propelled by the recent economic crisis as people seek cheap alternatives to traditional networking practices.

(August 17, 2009 -  DailyCamera.com)
 
SMALL BUSINESS RESOURCES
Some Career Tips for Joining The Start-up Economy
Earlier this week, we learned from the Federal Reserve that the U.S. economy appears to be stabilizing. That's the very good news. The not-so-good news is that many analysts expect the recovery to be a "jobless" one, at least for the next two years, and likely longer. Thus, while the economy may start coming back later this year and early next, we shouldn't expect real job growth for some time.

This is not good news for folks looking for jobs or thinking about career changes -- particularly for those in the media and ad industry, since our sector generally lags behind the overall economy by the better part of a year. However, as media and marketing companies continue to be disrupted by the Internet and digital technologies, we will certainly see a lot of "green-shoot" growth at small companies, particularly start-ups.
(August 13, 2009 - MediaPost)

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