Southeast Missouri State University gets grant to train would-be business owners

Southeast Missouri State University will train would-be entrepreneurs to start small businesses under a new initiative funded by a $400,000 federal grant from the Missouri Division of Workforce Development.

University and state economic development officials announced the grant at a news conference Friday at the University Center.

School officials said the goal is to create jobs and boost economic development in the region.

"This initiative will address and turbocharge entrepreneurial development in Southeast Missouri," said Buz Sutherland, director of the Small Business Development Center on campus.

The training will be available to all would-be entrepreneurs, but school officials said it's largely designed to help low- and moderate-income individuals and those who have been laid off.

The Southeast Missouri Entrepreneurial Development Initiative will provide business management training to those wanting to start small businesses as well as those who already are in business, Sutherland said.

Through its Innovation Center, the university will deliver the training in 12 three-hour sessions. Sutherland said the school plans to offer the business training program about 20 times over the course of the year.

The training will be offered at Southeast's campus in Cape Girardeau, at the four higher education centers in Perryville, Malden, Sikeston and Kennett, and University of Missouri centers in Portageville, Poplar Bluff and Park Hills.

The grant will pay the cost of the training, including the work of six graduate assistants from Southeast's master's program in business administration who will serve as "business coaches" to participants.

The coaches will help participants secure technical services such as laboratory testing, packaging and prototype development, Sutherland said.

Southeast also will provide four business workshops at three locations in the region. The workshops will focus on women and minority business development, how to bring a new product or service to the market, value-added agriculture, and Web-based business development.

More and more people have part-time or full-time businesses that involve selling products online such as on eBay, Sutherland said.

Encouraging banks

He said the economic development initiative also will encourage area banks to make commercial loans to entrepreneurs who complete the business training program.

Rick Beasley, director of the Missouri Division of Workforce Development, said he expects the university to play a major role in boosting business development.

Both Beasley and Sutherland said small businesses fuel Missouri's economy. "Ninety-eight percent of Southeast Missouri businesses employ fewer than 100 people," Sutherland said. Most have fewer than 20 employees.

Beasley and Sutherland said the training will give would-be entrepreneurs a better chance of succeeding in business.