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Business roundtable minutes 04 03-06
- 1. The Trident Initiative Fourth Business Roundtable Meeting April 3, 2006 Minutes The fourth roundtable meeting of the Trident Initiative was on Monday, April 3, 2006 at the Queen City Creamery, Cumberland, MD. Present were: Dave Reusing, Donna Reusing, Natasha Li, Avalon Ledong, Rick Haines, Don Gaster, Diane James, Alex Knizhnik, Faina Knizhnik, Richard Hill, Richard Heavner, Terry Michels, Steve Nelson, Dr. Keramat Poorsoltan, Dr. Sudhir Singh and Ms. Amy Nazelrod. Dr. Singh welcomed all and explained the three components making up The Trident Initiative. He noted that the College of Business is now AACSB accredited. Dr. Singh also announced that while topics for the next two meetings were set, suggestions on other possible topics for future roundtable meetings are welcome. Topics of discussion may be an idea or concern related to a particular business or something broader such as the direction one sees Allegany County moving to in the future. Participants then introduced themselves and briefly stated their business affiliation, interests, and or concerns. Dr. Poorsoltan then initiated the discussion on trends of businesses which are growing in Allegany County. He referenced several points such as the types of businesses growing in the area and demographics of the region. The group discussed the types of businesses that would likely survive in the area, as well as ways to expand local business through the internet. Terry Michels commented that retail businesses are prominent in the area and the majority of these businesses have sites on the internet. Dave Reusing, owner of the Town Hill Bed and Breakfast, explained that 90% of his business comes from individuals finding the B&B on the internet. Alex Kniztinik and Faina Knizhnik had expressed their concerns about staying in business. The group suggested expanding their market by setting up an internet site. The Reusings volunteered to display a piece of Kniztiniks work at their Bed and Breakfast. Alex Kniztinik mentioned the lack of support and assistance his business has received from government officials. Dr. Poorsoltan then focused on the increase in workforce in Allegany County, while the population has decreased. There was discussion on possible reasons why this is happening, and where the additional workers are coming from. Suggestions were made that additional workers are coming from Mineral County, WV. Dr. Singh solicited thoughts on the perception that Cumberland is viewed by many as the Prison Capital of Maryland. Dr. Poorsoltan mentioned that referring to Cumberland as such will prove to be a self-fulfilling prophecy and we should avoid labeling our city as a prison capital. Participants expressed the opinion that this perception may prohibit some people from moving into the area. Also mentioned was the fact that prisoners are included in the census information for Allegany County, which throws the actual statistics off. Dr. Poorsoltan solicited the group how they perceive Cumberland and what is a good label for this place. The group discussed how Cumberland should be addressed, and what Cumberland has been known for. Ideas from Dave Reusing were the Great Upcoming City, the Friendly City. The group discussed the quality of living that Cumberland has to offer. Mentioned were the variety of architecture on the downtown mall and Washington Street, and the various tourism spots. Steve Nelson commented that promoting the area cannot be left to just the Chamber of Commerce. Citizens of Allegany County and businesses should also promote the area. Dr. Singh asked for ideas on names of city business leaders or government officials that the group would like to see invited upcoming roundtable meetings. Steve Nelson suggested Barbara Buehl from the Chamber of Commerce. Dr. Singh agreed to contact Buehl. Other possibilities are Mayor Lee Fiedler and Mayor Jim Cotton and Al Feldstein of the Maryland Department of Planning. Avalon Ledong posed the question of why, when one company comes to the area does one leave? Dr. Poorsoltan pointed out that it is not just this area. It is a nationwide trend. More and more companies are leaving the USA. The group then discussed Avalons impression of the area being a service area. Richard Heavner
- 2. noted that Allegany County is a prime location, that it is seven hours from one-third of the population in the USA. Dr. Poorsoltan announced the two-day Trident Initiative conference that will be held at FSU in July. He touched on the agenda, announced that fliers will be sent and local businesses will be informed. Two entrepreneurs will be recognized, one young and one established, both with a record of success. The group was encouraged to think of an individual to nominate who is worthy of such recognition. Dr. Poorsoltan also mentioned the need for panel members to discuss topics of business at the conference. The question was raised as to where is all of this leading. Dr. Poorsoltan explained the meetings are to link the university and businesses together as well as link business to business. This is a chance to network and create cooperation between businesses. Dr. Singh explained that there are also forums on campus where individuals can speak and identify issues that they find challenging. With these forums the FSU students are able to interface and help develop a plan that could be useful and lead to more successful business. Student projects can be set up to help the local businesses, as well as allow the student to gain experience. Dr. Poorsoltan announced that his Small Business Management class interviews local entrepreneurs. Diane James initiated a conversation about the parklets in downtown Cumberland, how Baltimore Street was closed and how she felt this drove the better, non-chain, businesses out of business. This brought on other ideas such as how the specialty stores downtown should be open on Saturday evenings and Sunday, how some local businesses should have two price structures, one for local residents and one for tourists. Dave Reusing compared the downtown Cumberland area to Annapolis and Lancaster. He noted that locals do not shop at those areas. Businesses need to know their market and set price structures accordingly. Richard Hill commented that business can not blame the consumers. He pointed out that no one really knows the direction of Allegany County. It is necessary to build and sell for a greater amount than it costs to produce in order to grow. Hill discussed how little industries have to support each other. He gave an example of a town in Georgia, which was once like Cumberland, but is now booming. Small industries supported each other and enabled the area to grow. He suggested that businesses should have a good business plan. It was mentioned that a business plan is something FSU could assist in creating for businesses. Richard Haines suggested a program, Lean 6 Sigma, which is a program for budgets that has worked very successfully for his business. Dr. Singh announced that entrepreneurs are needed for the mentoring practicum at FSU. These entrepreneurs are needed to instruct specific classes. He then discussed the outline of the 12-week practicum course. Week 1: one-on-one with the student, discussing things such as the aspects of opening a business. Week 2: a shadow experience. Week 3: putting together the ideas of a business plan. Weeks 4-12: work on the business plan. A team of entrepreneurs along with faculty are also needed to evaluate the plans. He noted that up to three gifts of $1,000 are available to the top three business plans for business start up. Dr. Singh then mentioned the web site for the Trident Initiative that will soon be up and running and that will provide an electronic forum for discussion of various issues of regional interest. The meeting was adjourned at 7:50 p.m., followed by a group photo. Respectfully Submitted, Amy Nazelrod