Feb 26, 2017|
Automatically Generated Transcript (may not be 100% accurate)
Okay we're back to segment number three buffalo means business on new Israeli united thirty WBE. And working with Mike Zimmerman. Executive director of the lumber city development corporation. Which is an economic development corporation focused and revitalizing. The north panel Wanda community. Through a lot of different programs so welcome to chauffeurs while like you but he good to have you here for Sam on the show and down. You know we're talking off here were talking about how low lumber city hopes. You know we got we got to. Preface this with that this were talking and norte panel want to address okay you know it would be nice if every place at a place like number city but north title on campus and you guys. So if you're thinking about starting a new business if you have an existing business that she needs some help buy and if you wanna become an entrepreneur or lumber city development corporation is all about that. They can help you steer you in the right direction. Even in certain circumstances provide. Some funding percent gap funding. Her needs so we're gonna talk about that with Mike right now so again describe the organization for me from a consumer's input of some would stinking of having a business right now on Nortel and Wanda. Why should they calling you. Well I EU and you hit it on the head right there I think because. We are our whole reason for existing lumber city development corporation. Is to provide assistance to small businesses and entrepreneurs worst to get started and and and bring their business in the north tunnel on this so. We like to be dead it's kind of local point contacts. For anybody doing business in north on a large or small really. To navigate. Any any kind of aspects of either getting their business started to growing their business expanding re locating. Any of those parts to your your your business are gonna involve hurdles and challenges and they might be financial. They might be your regulatory it might be you know issues that he needed to overcome. An inch there's a lot of different avenues to take a lot of different people you can call can be very. Confusing frankly. So we are that one resource in north tunnel onto where we can be the point of contact give us a call. Will work with you on maybe it's your business plan to develop it started maybe it's fun accurate location maybe it's navigating. You know what other sources you need to go to for additional financing for the right. Permits in regulations means that we can be that that one point oh organization. And to try to help you. You'll get your business we need to go. I think it's huge and I think it's very important especially for people that are thinking of starting a business in north tunnel under. You know maybe it's service or into being as a brick and mortar business but before you go to the bank. You know you really have to have here but t.s crossed and your eyes doubted. With everything like Mike was saying a business plan you know your cash projections your cash was statements your profit and loss statement. They're gonna wanna know all of this stuff. And you know banks don't exactly like risk. And so it's a group play yours who can help somebody navigate these things who couldn't. You know again who we you're not a bank rate is correct it which which you work with the banks of north tunnel Wanda to help the business you know we we have. Great relationships with all the regional banks. And and we stayed Constant Contact with them. And soul you know in a lot of cases see especially fear a new business and an entrepreneur who were in and banks wanna see history you. You know how your business is done for the past three years hard to show what your startup company. But if years. Working with us on a business plan and some of our partners. For example small business development senator of either you're community college or or intricacies of Niagara. Get your business plan done correctly. Working with us on potentially providing some financial assistance as well. Shows to bank. You were commitment to your business that you understand what you're doing. They you've got support along the way and makes them a lot more comfortable in taking a risk but your business social we like to think that that. That helps entrepreneur worst kind of get started. When it can be can be daunting for a started totally overwhelming through. You know because you're you're trying to work with. You know be very unique working capital in need this you need via business loan you got to figure out the mortgage. I mean there is a lot of different elements to owning a businesses whether your bank and existing business or what they're doing it on your own. And lumber city can help you through all of this in north tunnel Wanda. Let me ask this what wouldn't when people call you in the numbers 6958586958580. That'll put you in touch with Mike and his staff over at. Lumber city. What should people be prepared width. When they call you other than is just the dream at this point that they tell you about or should they actually have something like tax returns or or things like that. You know the more prepared to better but we've we've worked with people right from the hey I think I have a idea for a business stage and and nothing else or yeah absolutely yeah. You know obviously the mower the more your will put on paper the easy it is to dissect and and and to get into the nuts and bolts of the but you know if people oh a lot of people a lot of successful businesses have started with. I think I have a great idea but I don't know where to go from there and that's that's where we like it started so well. I know one thing for sure that when it comes to banks at bank financing which you know again you're gonna you're gonna be navigating these waters you've got one shot. You know that that the banks wanna see something and they don't tell you. We'll just come back and revise as saying in and show us your projections afterwards. Here's who we think a revises that they won't say that. He of one shot at this and it really has to be done. In the right way you guys have had great success stories. In north tunnel and with people like. You platters chocolates who good friends of mine and they they've been buffalo means business. Webster Webster street Remington Riviera theatre places like get these are places that you worked with the north title Wanda. To help them achieve their goals as a business right. Yeah absolutely and and and I think there's agree. Scale they're from. The small businesses on Webster street some of those shops retailers and restaurants. A lot of word. Start up companies. That had to go through some. Some help with us and our partners in order get financed and you're going. To a company like a platters which. Mikell has been around for. Since the 1930s. But. Decided that they want to make a really league move in a big change today or you know entire operating. It was gonna take navigating. The new financing. Some some government programs some assistance and and getting all done. In their their story of getting moved in in in the in his time the stated this is really amazed February talked and I mean it's an amazing story yeah. And yet we were so proud to be able to to help them. Again just cannon navigate that process and now you can seated there in the worlds are building it's a beautiful facility. They're doing very well in the first few months there. They keep continue to keep growing and it's it's really done. Tremendous not just for four platters business. But that whole worlds are building facility there and falls boulevard. Which such a great piece of and he's history. There's there's great things coming to that building because people are gravitating to platters so we're really excited about that projects. Again order with Mike Zimmerman executive director of the lumber city development. Corporation if you need help. You know wafting through all of this stuff when it comes archer materialism. Owning your business may be a trainer prove your existing business in north title one day again. We have an exclusive jagr for talking about today. But morgues are men and his staff over lumber city development corporation. Would be the ones to talk about the two so we're talking about things like grants helping you with grants BB low interest financing. The real estate development. Things like that that you would probably have to go to 900 different people. Took to navigate any of these things would you can just again call amber city tellem your dream and you'll you'll partner with them right. Yes absolutely and and like you said there there are so many opportunities out there you know forum for business is either getting started or or growing. Tootsie get assistance for whether it's through. The different agencies you hear all the time in the news about the you know tax abatements tax credits or low interest loans or grant programs and all these different sentence and it it can be. He can be confusing but but there's a lot of opportunity out there also. So we like to. Partner with our businesses. And point them in the right direction of this is the incentive that best fits you. You know we don't want to. If your business you don't wanna be trained to. Chase or grant or chase an incentive for the sake of getting an incentive but there's something out there that can help your business Cairo. Then then you know you should really go after. So so that's gonna keep your business in NC or help your business grow in north I don't want to. That we wanna help you access that what kind of mistakes do you see an entrepreneur or is making from the get go. Four and if we see we see a lot of mistakes. And some of them. Trimming on. The softer costs of doing business not not budging enough money for your marketing. Not budgeting enough money for. In some cases development projects where. They'd be really tried to trim on you're. Park tax costs there engineering costs you're those type of things because you know they're not the physical tangible expenses they think but. It costs in the end if you don't do this correctly right. And and for small businesses a lot of times its legacy to the marketing and the working capital not not any good handle on. You know. What kind of cash reserves they're gonna need to have for an official in the beginning as he had to get through that first six months the first year before the business really take treason and takes off and a lot of people underestimate that. What what types of businesses do you feel old. That you trek bass that that you were with past I mean it is a retail at this point service industry other things you gravitate to. Are more we really mean we've we've worked with the businesses of all shapes and sizes. We really don't have of a preference there. Obviously because of her limited you know scope of north Connell on the we are really focusing on businesses that fit into north on one is gonna overall redevelopment. And that. Is really focused on our waterfront park downtown area. And see do we do work with a lot of that at retail businesses those restaurants those destinations at the businesses. To try to boost. Debt re developing area but that said we've worked with the manufacturers in town we've worked with some professional office type of clients. So we're we're not. Limiting in any way to do we work with we've really seen all a lot of growth and success in that kind of retail and service industry. Well again other area of eyes stood before and it's beginning to show. If you are thinking about being an entrepreneur or an owning your small business which is there really a dream in this country that you can you can do that. But it takes work it takes a lot of thought. You know don't go quit your job yet before you have all please. Things in place. The kind of stuff that Mike is talking about or if you have an existing businesses in north town awhile and again we're we're chip graphically exclusive today. For Nortel Wanda. If you have bet their business that you perhaps you know need grant additional funding more working capital wanna Wear me. Mike and his staff over at lumber city development corporation would be the folks at talk to 6958580. 6958580. Or go to lumber city DC the -- term so we're all about local business here Mike it's a great thing you're doing. And I really think people in north tunnel Wanda they're thinking about this should call you guys. It should work with you and do it right and a wonderful themselves you know a lot of people have grandiose strange stuff like that. But and what comes to actually being in the chair and have your business and you realize things are different so. You know he's got to make sure to do this right the first time. Absolutely immune humans. A lot of small businesses. Unfortunately a lot of new businesses fail it's it's it's part of doing business. But we wannabe. A partnered tried to help these new companies that are that are. Kind of just at the beginning point and it tipping point where there. You succeed or fail to try to give nudge in the right directions that they they can sustain success awesome stuff you don't think Durbin and the shortening some ointment version. Mike Zimmerman executive director of lumber city development corporation in north town wanted to. Give them a call against 6958580. That wraps it up from buffalo means business. I on this Saturday we will see you next week at 6 o'clock your news radio 930 WP yen. You've been listening to buffalo means business with money Shula news radio 930 WBA. And that brought you by the law office of wild flurry go complexion spot by Western New York dermatology window world Jamestown mantras and Jamison electric heating and there have been listening for another edition of buffalo means business every Saturday at 6 PM only on news radio 930 WD. And.