Veterans - Marching towards Entrepreneurship

By: Kenneth Lujan
Branch Manager
SBA - Guam

Did you know that veterans make up a large number of successful small business owners?  According to the most recent U.S. Census Data, veteran-owned firms represent 9 percent of all U.S. firms. These 2.45 million veteran-owned businesses employed 5.793 million individuals.  In the private sector workforce, veterans are more likely than those with no active-duty military experience to be self-employed.

As we welcome back our returning troops and wish a fond farewell to those retiring from military service, the U.S. Small Business Administration (SBA) is offering Operation Boots to Business (B2B) Program, an initiative to train veterans and transitioning service members in business entrepreneurship. Transitioning veterans are natural entrepreneurs, possessing the training, experience, and leadership skills to start businesses and create jobs.



B2B Group Photo: (Front row, seated, left-right):  My-Randa Quinata, Kay Harris, Rona Baluyot, Tyana Thayer, Teri Mendiola

(2nd row, left-right):  Frank Crisostomo-Kaaihue – Guam VBOC, Jorge Rivera, Richard Taitague – Navy Base Guam TAP, Conrad Baluyot,  Cleon Huskinson, Tony Mendiola, Angel Mamanta & Jorge Ramirez

(back row, left-right):  Ken Lujan – Manager, SBA Guam Branch Office, Doug Payne, Samuel Jones, Reinhard Sponseller, John Pangelinan, Robert Sherman, Fred Granillo – Guam SBDC, and Darroll Wiltz – Guam PTAC.

Boots to Business, or B2B, began as a pilot program in July 2012 and began to be fully implemented, with a rolling start across the nation starting January 2013. B2B is being implemented as a nationwide program to standardize entrepreneurial training to veterans coming off of active duty and re-entering the civilian workforce. The national rollout of Operation Boots to Business: from Service to Startup aims to provide exposure to entrepreneurship to the 250,000 service members who transition every year.

The SBA is a government sponsor of B2B offered in conjunction with the Department of Defense’s redesigned Transition Assistance Program (TAP). Part of the redesign is a new curriculum known as Transition Goals, Plans, Success (Transition GPS). Transition GPS is offered to service members separating from military service and provides preparation for transitioning to civilian life, including benefits information. Additionally, each service member may elect entrepreneurship as an optional training track.

B2B has been specially designed for currently transitioning service members. It caters to all paygrades, Enlisted and Officers, as well as military spouses and dependents.

SBA is always looking for volunteers to help mentor veteran entrepreneurs. If you are a veteran entrepreneur and/or enjoy working with veterans and would like to volunteer time toward this effort, please contact Kenneth Lujan at the SBA Guam Branch Office at 671-472-7277 to find out how! For additional information on other business services offered to veterans, please contact Frank Crisostomo-Kaaihue at the Guam Veterans Business Outreach Center (Guam VBOC) at 671-475-4900 or Richard Taitague at the Transition Assistance Program (TAP) Office at 671-333-2056/7.  Please visit www.sba.gov/contents/veterans.

Pathways to Finance (P2F) Extends to Eligible Clients in Yap

By: James Limar

Director

Yap SBDC

A recently established partnership between the local SBDC and the Pacific Islands Trade & Investments (PITI) has enabled eligible clients in Yap to access bookkeeping assistance which aims at increasing the prospects of their business proposals. This newly added product to the SBDC’s portfolio is made possible through a capacity grant generously provided by the Auckland-based PITI which has piloted similar projects successfully in Palau. With the primary objective of enhancing the likelihood of eligible Small Micro Medium Enterprises (SMMEs) in Yap to gain access to capital, expertise is being sourced from a local service provider, D&G Bookkeeping Service, to mentor pre-selected clients to develop financials of bankable standards that will enable lending institutions to properly assess the credit worthiness of the clients as well as their proposals and thereby enhance their rates of approval.

 

The following are the key features of the new service being offered, which like other services of the SBDC, is conveniently made available free of charge:

·         Installation or revision of bookkeeping system

·         Mentorship in keeping up system

·         Consultation in financial reporting

If you are interested in knowing more about this newly available service, or other services, programs, projects, and activities of the SBDC, please contact (691)-350-4801/2 or email jamesl@pacificsbdc.com or visit our webpage at www.pacificsbdc.com.

Furniture Trends & Designs Inc. Providing Guam with Furnishings They Love & Need

By: Alice Mendoza

Student Intern

University of Guam

 

Sylvia M. Flores, proud business owner of Furniture Trends & Design Inc. began her business venture in the furniture retail and design more than 30 years ago. Before that, Flores attended many Home Furnishing Shows in San Francisco, Las Vegas, High Point, North Carolina, and the Neocon Shows in Chicago. She then took the corresponding course of the New York School of Interior Design. She gained the knowledge and numerous experiences in kitchen design, closet organization, and the use of colors in the home and offices. As Flores’ passion for home interior grew, she saw the need to provide quality, selection, and value furnishing for the community. Today, Flores owns businesses in both Guam and Hawaii such as an antique shop and a home furnishing retail store, and real estate and interior design services.

Through the help of the Guam Small Business Development Center (SBDC), Denise Mendiola-Hertslet assisted Flores by walking her through the process of setting up her business plans which she quotes “is very important when you need bank financing and understanding the importance in being registered to quality for potential Federal bids.” The start-up process was relatively easy for Flores because of her relationships that she built with the suppliers and was familiar with the process of purchasing and shipping. However, one of the biggest challenges she experienced in that process was obtaining a large sum of capital needed for inventory, shipping, rent, and operations.  In the end, she obtained some bank loans and through personal partnerships was able to fund her business. Overcoming those challenges was rewarding, but when the first container of inventory arrived, she considered that to be her most memorable triumph. Furniture Trends & Designs Inc.’s short term goal is to reinvigorate the community and their long term goal is to expand and infiltrate the island with the best quality and tasteful furniture they can provide that her clientele loves and that will fit their needs.

Today, Sylvia M. Flores continues to run Furniture Trends & Designs Inc while being a single mother of two and a grandmother of five beautiful grandchildren. To all other individuals interested in starting a business, Sylvia’s advice is to “Stay with the course, chase your dreams, and don’t be afraid of competition. Make sure that your ultimate GOAL is customer satisfaction.”

To view Furniture Trends & Designs Inc. furnishing selection, visit their shop located at the Appliance Galleria Building (Old Sears) in Upper Tumon from 10:00 am – 5:00 pm Monday through Saturday.

For more information on how the Guam SBDC can assist you start-up or expand your business, please contact our office at 671-735-2590 or visit our website at www.pacificsbdc.com.

Palau SBDC Partners with Pacific Islands Trade and Investment (PIT&I)

By: Lisa Abraham

Director

Palau SBDC

 

Gearing up to meet the Palau Small Business Development Center’s (SBDC) mission in supporting economic growth through sustainable business development, the Palau SBDC has partnered with Pacific Islands Trade and Investment (PIT&I) out of Australia to continue to fund the Palau SBDC’s financial support services targeted for businesses currently in business one year or more.  Eligible businesses can receive consulting services through the Palau SBDC for recordkeeping/accounting set-up for better business management and/or getting help updating the businesses historical financial statements for application for a business expansion loan. 

 

The agreement between the Palau SBDC and PIT&I is to support business sustainability and expansions in Palau for the purpose of creating job opportunities and retaining job positions utilizing the Palau SBDC Financial Monitoring Services Program.

To be considered for the Palau SBDC Financial Monitoring Services Program developed for businesses in the Republic of Palau, you must meet the following eligibility requirements:

1. Must be a client of the Palau SBDC.
2. Must be a citizen of United States, the Republic of Palau, or any U.S. affiliated territories.
3. Must be an existing business for a minimum of one (1) year
4. Must be at least 18 years of age to legally sign any legal documents
5. Must have a business legally registered under Palau laws & regulations
6. Must not be delinquent on any lending institutions located in or adjacent to the Palau government
7. Must meet the definitions of a “Small Business” as defined by the SBA regulations.

 

Apart from the Palau SBDC’s role with the financial monitoring program, the Palau SBDC also provides free confidential counseling to startup and existing businesses.  One of the primary uses of our services is to assist interested loan applicants with their business plans which are needed to determine feasibility and credibility of the loan request. Similarly, the Palau SBDC offers trainings and workshops throughout the year targeted at individuals venturing into or currently in business as well as the general public interested in learning more on business. 

For more information about the Palau SBDC or the Palau SBDC Financial Monitoring Services Program, please call 587-6004 or e-mail Ms. Lisa K. Abraham, the Palau SBDC Director, at lees@pacificsbdc.com.

You can also visit us at www.pacificsbdc.com to find resources to help bring your business to life and to learn more about the Pacific Islands SBDC Network and its mission.

 

 

 

 

 

Palau SBDC, Palau Visitors Authority, and PATA Micronesia Chapter Presents:

By: Lisa Abraham

Director

Palau SBDC

 

On February 11, 2014, the Palau SBDC, the Palau Visitors Authority, and the Pacific Asia Travel Association (PATA) Micronesia Chapter sponsored a compelling and exciting speaker at the Palau Tourism & Hospitality School on various topics relating to hosts/hostess to menu, basic customer services, table setting as well as the importance of remembering names of frequent customers.

 

Group photo of participants of the Table Etiquette training series with Mr. Christopher Bejado, center, owner of Guam’s PROA Restaurant and guest speaker.

Presentations by Mr. Christopher “Chris” Bejado, a distinguished and successful businessman and owner of the well-known PROA Restaurant in Guam, U.S.A. is a former tourism & hospitality instructor at the University of Guam. He discussed several personal experiences and expertise in the area to share with the expat and local restaurant, government agencies, and other interested individuals from the private sector.

The Palau SBDC, the Palau Visitors Authority, and the PATA Micronesia Chapter convey great appreciation to Mr. Chris Bejado, businessman/owner and PATA speaker for the opportunity to present to the private sector; restaurants, bar and general community on the various topics in “Table Etiquette” with a positive effect on participants.  “On the last day, Chris concluded his presentation and dismissed the class at 2 p.m., but no one wanted to leave! They all wanted more,” commented Lisa K. Abraham, Palau SBDC Director. 

The Palau SBDC is here to assist in the development of business plans which are highly considered to determine feasibility and credibility of loan requests through one –on-one confidential counseling and training seminars. For more information on Palau SBDC services, please call 587-6004 or e-mail Ms. Lisa K. Abraham, Director, Palau SBDC at lees@pacificsbdc.com or palausbdc@palaunet.com.

Women of Nomwisofo "Fin Nomwisofo"

By: Ketsen Haregaichig

Chuuk SBDC

Director

 

The Chuuk SBDC started out the New Year with a three day training with a group of women from the Nomwisofo Region. Eighteen representatives from four women associations from three different islands in the region participated.   Training topics that were covered included Quality System:  Quality Assurance, Quality Control, and Marketing.  Participants were very excited and happy to learn new and crucial information about business practices and procedures, especially in the area of Quality System and Marketing.   A lot of discussions, questions and inputs from participants helped make the workshop more interactive and fun. At the end of each day’s presentation from the Chuuk SBDC staff, Ms. Concy Ruben conducted a 45 minute presentation on local herbs that can be used to cure, lower sugar level, and assist people with high blood pressure, diabetes and other non-communicable disease.

 

For more information on how the Chuuk SBDC can assist you, please call contact Cassandra Dereas or Director Ketsen Haregaichig at 691-330-5846 or e-mail cassandra@pacificsbdc.com or ketsen@pacificsbdc.com.

Healthy Food, Everest Kitchen!

Keone Chariton

Marketing Assistant Intern

CNMI SBDC

Laxmi Shrestha of Everest Kitchen has been on Saipan for more than ten (10) years and spent most her time working in the culinary industry.  When asked, why did you decide to start your own business? Laxmi replied, “I feel happy and satisfied when I serve my own food to people”. Besides her experience and satisfaction of serving her tasteful platters, as an employee she decided she had to do something for her family.

For Laxmi, owning and operating a restaurant is no stranger to her. She stated, “My husband and I established a restaurant in Nepal, and it turned out to be a success.  And during my time at Nikko Hotel, I learned how to cook a variety of exotic foods, from Indian and Western to Italian cuisines. “

How did the CNMI SBDC and other resources help you? Laxmi statesd that “Mr. Daniel Hann, a business associate, was the first person to lead me to the Small Business Development Center, and Mr. Perry Inos, Jr.  helped us a lot with corporate documents, marketing, business planning, financial management, human resources, and licensing.  I attended several SBDC business training seminars and all those seminars were helpful.  It was the most important part for me to start-up my business.  They cleared all my confusion and they helped me with every step.”

Although Laxmi is familiar with running a restaurant she acknowledged that starting a new business would not be an easy process. She said, “Opening a business was itself a challenging experience.  From finding the right path, financing the business, and marketing and creating new ideas were all part of my challenges.”

What is your most memorable triumph in your start-up process? Laxmi stated that “the day I cancelled my false start and the joined the right path with the assistance of others and the CNMI Small Business Development Center (CNMI SBDC) was the most memorable triumph in my start-up process.”

Everest Kitchen’s short term plan goal is to focus on improving quality of organic food and services provided to the customers. “I want to make sure that every customer I serve is satisfied with our quality of service,” stated Laxmi.  As for long term, her goal is “to not give up, whatever the situation in the future and to maintain high food quality and to target and serve more people every day.”

Lastly, her advice to anyone interested in starting up their small business is: “To get success we have to sacrifice, to work hard, and to keep moving on until we see our dreams become reality.”

For further information or reservations please contact Laxmi Shrestha at everest.ktchn@gmail.com or 233-2688.  They are located in Garapan, Saipan alongside Bridge Capital bldg. Hours of operation are from 8am-2pm.  They are also open on Thursdays at the Garapan Street Market from 5:30pm-9:00pm.

 

Want to know how the CNMI Small Business Development Center can help you? Contact Director Perry Inos, Jr. at 670-664-3018 or e-mail perry@pacificsbdc.com.