The Minnesota Chamber represents the interests of business across Minnesota. More importantly, the Minnesota Chamber considers how Minnesota’s business interests impact the region.

Minnesota Chamber President David Olson writes a monthly column, featured here, on a current trend or issue that impacts the way our members do business. Look for his column each month on our Web site, or visit www.mnchamber.com for more information.

**This page is updated every month, if you are looking for past articles from David Olson, you can find them here: www.mnchamber.com/mcce/monthly_column.cfm

September 2009

Minnesota Chamber a conduit for small-business assistance

By David C. Olson

Nearly 70 small businesses in Minnesota are in better position to weather the current economy, thanks to more than $4.3 million in grants and low-interest loans distributed by the Minnesota Chamber of Commerce Foundation. Funding was provided by the Pohlad Family Foundation and administered through Grow Minnesota!, the Minnesota Chamber's private-sector initiative focusing on job retention and creation.

These businesses are located in 50 communities and employ more than a thousand Minnesotans across the state. This money will help strengthen these companies and preserve essential jobs.

Overall, 765 businesses requested $75.3 million in assistance. The lion's share sought grants to retain key employees. Local chamber of commerce partners and other private-sector economic development organizations played a key role in receiving and reviewing applications.

Two aspects of the program are noteworthy.

No. 1, the overwhelming response underscored that many of our state's companies, especially small businesses, are hurting. But, as tough as the current economy may be, many are looking ahead and preparing to grow. That's good news. We are confident these grants and loans will strengthen their ability to do so.

No. 2, we are gratified that the Pohlad Family Foundation chose the Minnesota Chamber - through Grow Minnesota! - to manage the program. It is a testament to our firsthand knowledge of, and connections with, the statewide business community.

Grow Minnesota! has a primary focus to retain Minnesota businesses and to encourage them to expand in the state. Equally important, it is an opportunity to thank companies for investing in Minnesota. We operate in partnership with 48 local chambers and organizations and reach businesses in nearly 60 communities. We have conducted more than 700 one-on-one business retention visits thus far in 2009.

This distribution of the Pohlad Family Foundation money bolsters our arsenal of assistance. In addition to thanking companies for doing business in Minnesota, we are a problem-solver. We work with about 100 companies annually on everything from highway signs to air quality permits to sites for business expansions. Each time we help a business solve a problem, we help keep jobs in Minnesota.

Our role as a problem-solver has been strengthened as well. We recognize that we visit only a fraction of the thousands of Minnesota businesses that have questions inherent in everyday operations. Our solution is BusinessConnection - a one-stop statewide assistance and referral network.
The network is available to all businesses and can be reached toll-free by calling 888-MINN-BIZ (646-6249) with live operators standing by. On the Web, go to www.mnbizconnect.com. BusinessConnection guides them to quick, complete and accurate answers.

Grow Minnesota! is becoming our state's leading private-sector source of business assistance. With every conversation and call, we are building important bonds between a business and our state and increasing the utilization of our state's great network of people and programs designed to help businesses succeed in Minnesota.

David Olson is president of the Minnesota Chamber of Commerce. For more
information, visit the Web at www.mnchamber.com.