Previous Grants: 2004-2006
Northeast Kingdom Business Coach
The Business Coach Program was initiated in June 2003 as a partnership between the Vermont Sustainable Jobs Fund and University of Vermont Extension (through Bill McMaster, and Extension Community Resources Development Specialist) to provide on-the-ground assistance for people and businesses in Essex County and adjacent communities in the Northeast Kingdom (NEK) region of Vermont. The specific form of assistance made the Business Coach available to work one-on-one with people interested in starting or expanding a business, and to have a team of advisors to support his/her work.
The NEK Business Coach program was designed to assist entrepreneurs (the majority of whom are of low to moderate income) at the pre-startup and start-up phases of their business’ development, as a means of increasing the overall success rate of new enterprise survival and profitability in the NEK.
The technical assistance provided, first by Doug Philips-Hamblett and then by Betsy Sylvester, took many forms, depending on the specific needs of the individual, such as: pre-business plan concept exploration; pre-financing counseling (re: what financing options exist); product development and production scaling planning; finding a good lawyer and/or an accountant; establishing business accounting systems; developing necessary computer systems to run the business (e.g. customer database, web site development); pre-development of a marketing concept and plan; and the development of basic business skills.
The NEK Business Coach model was unique in that it took a community organizing and networking approach to promoting and supporting micro-enterprise development in the Northeast Kingdom. In essence, the Business Coach functioned as a ‘feeder’ to the Micro Business Development Program, Northern Community Investment Corporation, the Vermont Small Business Development Center and the Vermont Women's Business Center and other regional technical assistance service providers. Rather than operating out of an office waiting for clients to come through the door, the Business Coach worked out of coffee shops and community meeting spaces and met with people in their homes. By offering a broad range of services and technical assistance, this program was successful in meeting the goals of building a stronger economy in the NEK through small business expansion and diversification, improving quality of life in the Northeast Kingdom by reducing regional unemployment and poverty, and strengthening citizen participation and successful completion of community-sponsored development projects.
Over the three year life of the program, VSJF’s NEK Business Coach worked with over 120 start-up and low production entrepreneurs and businesses, including artisans, bed and breakfast establishments, retail shops and general stores, woodworkers, clothing designers, herb growers, and even a person planning to create a water and energy efficient laundromat in Island Pond – in Essex, Orleans, and Caledonia counties. The vast majority of those assisted by the program were women and entrepreneurs of low to moderate income. In addition, during FY 06 the Business Coach worked with 8 clients who were also Voc Rehab clients, and 17 clients who had learning disabilities or who had home front or other emotional challenges.
While local entrepreneurs may see opportunities in the marketplace for new products and services, a solid grounding in basic business practices, planning, and financial management are usually in short supply. One of the most important questions that the NEK Business Coach explored with her clients was “Is the idea feasible?” A feasibility analysis is one of the most important pieces before entering into business; it’s an essential step before writing a business plan. While our goal was to help NEK residents start businesses, we often provided an important reality check which allowed would-be entrepreneurs to make a different decision, rather than starting a costly and time-consuming business venture that had little chance of bearing fruit.
The VSJF could not secure additional funding to keep the NEK Business Coach Program going. As of 6/30/06, the program no longer exists. We hope that some other nonprofit entity resuscitates this important program in the near future.
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