Erik C. Johnson of the Ivy Entrepreneur Institute shares his expertise of 29 years in business with entrepreneurs at the Ohio Minority Business Action Center meeting at the Borra Center downtown.
Dean Brown | The Lima News
LIMA — Minority entrepreneurs were at a presentation by the Ohio Minority Business Center at the Borra Center in downtown Lima.
There are 32.5 million small businesses in the United States with almost one million small businesses in Ohio. These small business account for 44.6% of the state’s workforce. According to the Department of Labor, small businesses have created two out of three jobs in the past twenty-five years. According the the Small Business Administration, 29% of small businesses are owned by minorities and 36% are solely owned by women.
Stayce Fowler, regional director for Ohio MBAC, said, “The main reason that we exist in the state of Ohio is so that we can certify minority owned businesses. What does that mean? You will then have access to certain procurement opportunities within the state. The state has to set aside 15% of funds for minority owned business.”
Erik Johnson of the Ivy Entreperneur Institute shared his thoughts from his 29 years of experience in business with those who are looking to move their businesses to the next level.
“The only way commerce is engaged — there must be a problem and there has to be a solution. The solution and the problem have to meet each other for a fair market value of exchange. So when you think about your business, I don’t really want you to think about your business as a service or a product. The service and the product is really the delivery method of the solution to the consumer.”
Johnson summarized business succinctly in his presentation. “It doesn’t matter what your business plan is or what’s your mission statement. If you’re not giving the customer what he wants, then someone else is.”
In addition to Johnson, Amber Martin, the Workforce and Small Business Coordinator for the City of Lima also made a brief presentation. The Small Business Development Department established in May of this year has the purpose to meet the needs of the workforce and small business development in the city of Lima to design, implement, and manage multifaceted small businesses and workforce development projects and programs. Martin said, “Our vision is for the city of Lima to be the regional hub of commerce, Allen County known as the city for quality workers where our household income exceeds the state’s average by creating a robust and diverse epicenter for business.”
Jerome O’Neal said in the session introduction, “There is no reason if you want to start a business, if you have a business that you want to grow, there’s no reason to not be able to fulfill that vision in the next six to eight months. We are purposeful in terms of what our intent is with these sessions.”
Reach Dean Brown at 567-242-0409
