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About Smoke signals. (Grand Ronde, Or.) 19??-current | View Entire Issue (Jan. 1, 1993)
January 1993 Page 5 Entreprenuer of the Month: Linda and David Olson Smoke Signals By Tracy Olson Linda and David Olson are Grand Ronde residents who have used the Tribe's Economic Development department to help further their two new businesses. The Olsons have started Little feather Tec's, a clothing business that specializes in tee shirts, dresses, and sweats with Native American designs on them. They have a wide selection, and travel to bazaars, pow-wows, and craft functions to display and sell them. Linda is a tribal member and has recently resigned as the Tribe's Foster Care j Program Coordinator. She is working only part time now, and soon will devote all her energy into the businesses. Linda and David also own Easlel Feat her Construction, a comoanv mostlv ODcrated f ' r J --- 'i t ft by David. They have been in business since last August, and are capable of serving most construction needs. They have worked for the Tribe in the past, and are currently building some new office space, as well as helping to restore the future Head Start building. Linda has had experience with interior design and says, "Eagle Feather Construction is capable of helping you design a new room to your house or a new home. We show you what it will look like inside and out. We hope to work with the Tribe in building housing, a new Social Services building, and other needs it will have in the future.' , Small Business Development Class Setting Up A Corporation Who wants to pay more in taxes than necessary? Do you want to risk losing personal assets if your business encounters a dilemma? What if there is a way to establish your business so that it protects some or all of your assets, and at the same time saves you money on your personal and business tax bills? There is for those of you in business or thinking about starting a business, this seminar is for you. For many small businesses, incorporating under the sub S designation can shield personal assets, and economize your tax burden. Alden Hamlin, Tax Accountant will walk through the process of completing the application materials to file as a corporation in the State of Oregon, and file the necessary form to receive a Sub S designation from the IRS. Class will be from 6:30 to 9:00 Tuesday, January 19, 1993 at the Community Center. No charge to participants, everyone welcome! Small Business Development Center Services Attention to tribal member business owners, or those of you working on establishing a business: the Small Business Development Center at the Economic Development office offers the following services to you at no charge: FAX Service ""Counseling with Staff "Use of Phones "Copy Service MessageMail Center Computer Lab Library: we have an assortment of books, periodicals, and videos on business-related subjects. Stopbyanytimebetween8:00A.M.-Noonand 1:00 P.M.-5:00 P.M. Monday through Friday or call Debby at 1-800-422-0232 for an appointment. Beginning in January, 1993 we will be open Tuesday evenings until 9:00 P.M. Remember, all of these materials and services are available for business or job search activities only, in Economic Development. i ivy 1 - urn ml Lak X. X A am',ittmi Ltamnwf sM. V. . A . i NX, ih Linda had taken the Economic Development Greenhouse classes before they even began the T-shirt business. "I live and work in Grand Ronde, so I was aware of these sevices," she said, "But it is more than just classes. Economic Development helped us with our business paperwork, flyers, and taxes." Linda added that she, like many other tribal members, would like to see the Tribe offer loans to people who need a little capital to get their business offof the ground. Do Your Store Windows Make You Money? Did you know that the average passerby views your store windows for only 7-15 seconds? Your windows should reflect what is important to you your store, who you are, and what's different about your store. The bottom line is, do your display windows help you make money? Cynthia McBurney of the Oregon Downtown Development Association gave an informative presentation about visual merchandising at the Tillamook Bay Community College. Cynthia used slides depicting actual store windows to educate participants on the basic elements of store window design. The basic elements of design are: balance and proportion, color, depth and focus, lighting, and signage. A good rule for planning a store window display is to go across the street from your store, and make a mental image of the center portion of the windowthat's the part that the customer is most likely to see. Then go back to your window and plan that area as the main focus of your display. Remember to keep in mind that your windows should be displaying items you have for sale don't try to be overly artistic at the expense of a sale. Don't use props or display items that are old and faded, unless that is the theme of your display. For a copy of the handouts of the "Visual Merchandising" seminar, contact Debby in Economic Development. December Small Business Seminar Small Business Taxes Tuesday, December 15, 1992 Alder Hamlin, Tax Accountant presented information on issues involved in selecting the correct business. Entrepreneurs often select the sole proprietorship or partnership business form by default, but as business grows, you may want to consider a change. Instead of selection by default, entrepreneurs should examine The Olsons had to use their savings to start their businesses because they couldn't get a loan from their bank. "We've never been late on any payments, and had been good cutomcrs for many years. All we wanted was $2,500, but they said we were too big of a risk. It's not easy for people to get loans," said Linda. Linda said if the Tribe could offer small loans to tribal members with a well planned business idea, it would be much easier for them than using a bank. David and Linda decided to go into business for themselves because the idea of being independent appeals to them. Said Linda, "We'd like to make our own guidelines, our own decisions, not follow the guidelines other make for us." Little Feather Tec's and the Olsons are responsible for making most of the shirts and jackets for the tribal family reunions and Elder's raffles around the Grand Ronde area. They have made hats for the veterans, the NIVA jackets, Summer Education Program, and made a donation to the Elder's Mealsite for some one of their activities. Linda concluded by saying, "My husband is a much better salesman than I am, He can convince anyone. He sells three times as much as I do. "Let's hope their businesses continue to grow in and out of the community. each form of business organization carefully, weighing the advantages and disadvantages of each against hisher own needs as well as the needs of the business. Alden explained the advantages and disadvantages of different forms of business organization: sole proprietorship, partnerships, corporations S, and corporations C. BIA Direct Loan and Info Deadlines The BIA Direct Loan program received $11.93 million in funding for 1993. The monies were given to the area offices, so all applications will be approved in Washington D.C. Anyone wishing to apply for a Direct Loan should apply as soon as possible, before funds are expended. All loan applications must include a complete business plan, two bank denials, and a copy of the borrowers credit report. Contact economic development staff for assistance. $68 million in Guaranteed Loan monies were allocated for fiscal year 1993, and each area office received an appropriation of $1.5 million. Money will be available June 1, 1993 unless all funds are appropriated prior to that date. The maximum Loan Guarantee amount for individuals is $350,000. All applicants for Guaranteed Loans must have at least 20 equity in the project; equity is defined as the borrower's residual ownership after deducting all business debt, and any tangible business assets that a lender holds first line position on. Economic Development manager, Mitch Conley attended the Bureau of Indian Affairs Credit Officer's Conference in Everett, Washington. Mitch presented information to BIA credit officers about tribal small business development program's goals and how it works. The Grand Ronde Tribe is renowned in Indian Country for having a top notch small business development center within its Economic Development department. We hope all services and programs will be utilized. More Economic Development news on page 9
