IN THIS ISSUE:

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Economic Development Program Helps Communities

Paul Harris Fellow: Tom Helbling

Rotary Minute: Kim Shrader

Friday Potopourri

Aragon Inducted in Impressive Ceremony

New Member Application Accepted: Curt Cummings

PPE ReLeaf on the Sammamish Slough

Steve Goodier: The Way You Say

Web Fun

Economic Development Program Helps Communities

Jane Kuechle introduced the featured speaker, Michael Verchot, Director of the University of Washington Business School’s Business & Economic Development Program. The program assists small business owners in economically distressed communities while providing students with an enhanced learning experience.

Michael pointed out several changing demographic patterns. In the state of Washington between 1990 and 2000, non-white populations have increased an average of 63% while the white population has increased 14.6%. In Bellevue, the white population has increased 3.6% while the African-American population has increased 12% and the Hispanic population has increased 166%. He pointed out that these changes mean significant changes in customer patterns which require possible changes in the way that manufacturers and retailers market their wares and services. It also means significant changes for employers, as they are dealing with increasingly non-white populations amongst their employees. Michael pointed out that the non-native English speakers in Bellevue now approximate the number of non-English speakers in Seattle.

The Business & Economic Program is an outreach program aimed at minority women and minority-owned businesses. In the United States between 1992 and 1997, this group grew four times as fast as other business segments and, in Washington in 1997, there were 42,500 minority-owned businesses across the state in virtually every county. These businesses account for $10.4 Billion in revenues. Though the growth rate for minority-owned businesses is increasing at a rate of about 65%, the growth rate for revenue is lower than in white population-owned businesses.

The Business & Economic Development Program since 1995 has provided, as part of the educational experience of students, approximately 400 students who have assisted over 130 small businesses. The increase in revenues from this assistance is estimated at $11.4 million. Not only does the program provide a hands-on experience for business undergraduate students, but it provides seminars, workshops and classes for minority-owned businesses.

The Bellevue Chamber of Commerce, through the Bellevue Entrepreneurship Center, has used the services of the Business & Economic Development Program for two years doing one-on-one counseling, workshops and student consulting teams from the University of Washington at Bothell, Bellevue Community College and City College. These teams have provided 200-400 hours of consulting services through the Bellevue Entrepreneurship Center and have provided such basics as marketing plans and strategies, allowing for some dramatic changes in the way minority businesses do their work.

Michael stated they partner with the SBA SCORE Program and can point to some notable successes such as Chesterfield Health Services, a home health service agency in Seattle owned by a minority woman which now employs 1,000 people and has risen in four years from $1 Million in sales to $10 million in sales and is rated #13 in the top 25 successful minority-owned businesses by Inc. Magazine.

Thanks to Michael Verchot for his presentation. He received a certificate indicating a book as been donated in his name to a youngster in the Bellevue area.

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