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SBA Newsline Eight December 2004 – -Serving Colorado, Montana, North Dakota, South Dakota, Utah and Wyoming-

Happy Holidays!!

We want to to thank all Newsline Eight contributors….without their support, Newsline would not happen. Thank you.

Rena Carlson, Economic Development Specialist, Montana District Office

Georgia Yoshida, Economic Development Specialist, Utah District Office

Michele Arends, Economic Development Specialist, South Dakota District Office

Sheri Weston, Computer Specialist, North Dakota District Office

Sharon Nichols, Economic Development Specialist, Wyoming District Office

Happy holidays from the Region Eight Office! Fiscal Year 2004 was a
GREAT year throughout Region Eight. Our six district offices approved
4,322 guaranteed loans worth over $710 million – a 13 percent increase
over FY 2003! We are especially proud of the fact that our lending
programs created or retained over 20,000 jobs last year. No matter where
you live in our region, the SBA continues to advocate for entrepreneurs
and the communities they live and work in. The SBA’s many programs
help communities create quality jobs which in turn contribute to economic
development and improved opportunities. We have accomplished all of
this with less staff and a smaller budget. Talk about the best bang for your
buck – the American tax payer continues to receive an incredible value in
the services provided by the Small Business Administration.

This has all
been made possible by the dedicated SBA employees who continue to provide first-class
customer service to the people they serve. Since being appointed Regional Administrator by the
President, I have made it a priority to listen to our customers – our lenders, SBA district office
staff, community leaders, small business owners, and local, county, state and federal elected
officials. All of whom now have even larger expectations for what the SBA will do next fiscal year.
I have learned through my travels – over the last 3 years (some 100,000 miles on the road) – that
the SBA is highly respected and appreciated for what it does.

There is a huge cadre of
individuals – in the six states that comprise Region VIII – that help evangelize our message. From
the local entrepreneur that has found business success with the help of the SBA, to the county
commissioner that sees our many programs as a way to save the small businesses in their rural
community, to the many elected officials that realize that the SBA is one of the taxpayer’s best
friend, to the lending community that is our closest partner – the message is loud and clear that
the SBA continues to be a major driving force in our economy. Your continued support is always
appreciated and needed. The entire Region Eight office wishes you and your family a safe and
happy holiday, and a very prosperous 2005.

The Advocate’s Corner by Jim Henderson

The Small Business Economy: Good News for Small Firms. Signs of
economic recovery began to appear in mid-2003, and small businesses led
the way, according to the new 2004 edition of the Office of Advocacy’s
annual report, The Small Business Economy. The report analyzes 2003 data
and finds that the number of firms grew, business bankruptcies declined,
and sole proprietorship income increased 6.2 percent. “Continued strong
economic growth will require an environment that fosters more
entrepreneurial activity,” said Advocacy Chief Economist Chad Moutray in
unveiling the report at Robert Morris College in Chicago, Ill. The report examines the role
small business plays in the economy, focusing on economic trends and indicators, data
on innovation and technology transfer, and regulatory issues at the federal, state, and
local levels. Among the report’s highlights: ♦ Consumer and business confidence
returned and the economy shifted into higher gear in the second half of 2003. Real gross
domestic product increased at an annual rate of 8.2 percent in the fourth quarter. The
number of firms with employees increased by 0.3 percent and the number of
unincorporated self-employed increased by 3.7 percent over the course of the year.
Financial markets were on track for supporting more growth.

♦ Home-based businesses –
53 percent of the small business population – face a unique regulatory environment that
can restrain their expansion and growth. Complex IRS rules on home office deductions
and a complicated test for determining independent contractor status are among the tax
barriers at the federal level. Local zoning laws are also a challenge for many home-based
businesses.

♦ Current research suggests that university spin-offs can have a dramatic
effect on the economy of a region. These effects have been enhanced by government
policies such as the Bayh-Dole Act, which gave universities the right to inventions
derived from federally funded research. The complete 220-page report is posted on the
Office of Advocacy’s website at http://www.sba.gov/advo/stats. Soft-cover copies are also
available by contacting Dawn Crockett, administrative specialist, at the Office of
Advocacy, (202) 205-6533 or [email protected].

District Office Reports
Colorado –

The SBA and NAWBO to present its “In Good Company”
Conference on Wednesday, February 9, 2005 in Denver. This full-day educational
conference targets women business owners in the Rocky Mountain area. There will be
three tracks of workshops for business owners in all industries and in all phases of
business. This conference will give participants time to network with other women
business owners. There will also be exhibitors offering resources and support for
business growth. The cost of the conference is $149 – if paid by December 17th. It will
be held at the Denver Adam’s Mark Hotel from 8:00 am to 7:00 pm. For more
information, please call 1-866-483-0167.

Montana –

Get the “Scoop” on Business Services. Residents of Meagher County
are invited to attend an ice cream social hosted by Bank of the Rockies at “The Scoop” in
White Sulphur Springs on Tuesday, December 14th. beginning at 4:00 p.m. Participants
will be treated to ice cream and introductory presentations by representatives from Bank
of the Rockies, Gateway Economic Development Corporation of Helena, the Helena Small
Business Development Center, the SBA, the Gateway Economic Development District, and
Northern Rockies RC&D. The presentations are meant to provide an overview of the
breadth of business, economic, and community development resources available to
residents in the Meagher County area. A question and answer period will follow. The SBA’s
Michelle Johnston and Linda Kindrick will be on hand for the event. For more information
contact Mike Grove at Bank of the Rockies at (406) 547-3331.

North Dakota –

"Business Year End Tax Planning" workshop to be held
December 16th in Grand Forks, North Dakota. It’s time to wrap up the end of the
year and maximize deductions! This workshop will cover general business tax issues,
maximizing tax brackets and credits, Section 179 Expensing and Depreciation, Deferred
Compensation, Health Savings Accounts, Entity Choice, and other special topics by
request. The workshop will be held from 12:00pm – 1:30pm at the Job Service in Grand
Forks. Cost is $10. Contact the Small Business Development Center at (701) 795-3734
for more information.

South Dakota –

SCORE to host “HOW TO REALLY START YOUR OWN BUSINESS”
workshop on December 11th in Sioux Falls. This workshop will cover the areas of
marketing, business plans, cash flow and financial projections. There will also be a
roundtable discussion by local business owners who will share their experiences. Fee for
the workshop is $40 for self ($35.00 if paid one week in advance) and $20 for each
additional associate. This cost includes lunch and materials. This event will be held
Saturday, December 11th, 8:00 a.m. to 2:30 p.m., at the Ramkota Hotel Best Western,
2400 N. Louise Avenue in Sioux Falls. Attendees are asked to pre-register, and register
early as space is limited. For more information, call (605) 330-4243, Ext. 43.

Utah –

SBA’s Utah District Office will be holding their annual Holiday Open
House on Thursday, December 16th, 2004. The open house will be at the Utah
District Office, 125 South State Street, Salt Lake City, from 1:30 pm to 3:00 pm. The
Utah District office holds this annual event to thank partners, clients, lenders and friends
for all of the support that is given during the year. For additional information regarding
this event, please contact Pat Fewkes at (801) 524-3218.

Wyoming –

VFW Conference in Cody. The Wyoming District Office Veterans
Affairs Officer, Dave Denke, will give a 15 minute presentation at the VFW State
Conference being held in Cody, Wyoming on January 7, 2005 at the VFW Post. He will
be talking about SBA’s programs and services. There will be approximately one or two
attendees from each of Wyoming’s 25 posts. For more information please contact SBA’s
Dave Denke at (307) 261-6523 or e-mail him at [email protected].

If you have any questions about Newsline Eight or would like your name removed from the
Newsline VIII Fax list, contact Chris Chavez at (303) 844-0501 or [email protected]
SBA’s Website can be found at http://www.sba.gov

If you have any questions, please contact the Region Eight Office at 303-844-0501.

Volume 10 – Issue 12 Contact: Chris Chavez ([email protected])

December 2004 Phone: (303) 844-0501/Fax 844-0506

Newsline Eight is circulated to our resource and lending partners by SBA’s Region Eight Office
721 19th Street, Suite 400, Denver, Colorado 80202.
Elton W. Ringsak, Regional Administrator
James R. Henderson, Regional Advocate
Christopher Chavez, Regional Communications Director
Carol Helm, Regional Office Manager
Happy Holidays from the Region Eight Office…..

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