Bored with the snow and chilly, enterprise guru Joe Roy moved to Palm Coast in 2006 to benefit from the coastal way of life. After retiring from the U.S. Military, the Vietnam Veteran and MBA constructed a formidable resume in company America that features plant supervisor and director of operations for Unilever North America, and senior vice chairman of provide chain for Bathtub & Physique Works. Recruited to be the realm supervisor of SBDC@UCF at Palm Coast, and the supervisor of the Palm Coast Enterprise Help Middle from 2011-2014, Roy is taking up a brand new problem heading up the Coastal Entrepreneurship and Innovation Institute.
Talk concerning the new idea and what you hope it is going to deliver to the Palm Coast/Flagler County enterprise panorama.
The Institute is devoted to serving to all shoppers fulfill their desires, particularly these in underrepresented teams based mostly on age, race, gender, ethnicity and orientation. Small companies are extraordinarily necessary to our native financial system, but we all know that 70% of all small companies shut by the tenth yr, not due to a scarcity of gross sales, however for a scarcity of money. Understanding enterprise funds is crucial to small enterprise success and we assist each consumer develop budgets, gross sales plan, earnings statements, money move and steadiness statements. We’re within the preliminary levels of creating a mentor program round particular enterprise competencies to assist our shoppers as wanted. We’ll draw on govt expertise in Flagler County.
The Institute has additionally partnered with Junior Achievement of North Florida to introduce quite a lot of applications into Flagler Faculties. Examples of applications embody monetary literacy, Be Entrepreneurial, profession success, and many others.
We additionally intend to carry occasions and to work with native organizations to debate how the Institute might help their enterprise members.
What are the alternatives or areas of want right here within the enterprise group and the way do they differ from bigger metropolitan cities like Jacksonville and Orlando?
Hospitality and Tourism contains the vast majority of Flagler County’s financial system and could be very totally different from Jacksonville and Orlando. Flagler County is projected to develop by 20,000 residents over the following 20 years, requiring extra well being care companies. This development can also embody a ‘new regular’ work-from-home surroundings with individuals shifting to Flagler County due to our location, care of the surroundings, seashores and way of life dwelling. Ought to this happen, there will likely be extra concentrate on expertise, and entrepreneurs will paved the way.
How do you envision the institute complementing the healthcare facility advances and alternatives introduced just lately by the Metropolis of Palm Coast?
Native authorities’s position in financial growth is to work with group leaders to develop a strategic imaginative and prescient for his or her group, and to develop and implement insurance policies which deliver that imaginative and prescient to ‘life.’ Trying to implement that imaginative and prescient is a chance for entrepreneurs to open companies and develop merchandise, providers and applied sciences that present readability to the imaginative and prescient, and remedy issues or enhance existence domestically, nationally and globally. The Institute’s position in financial growth is to work with Flagler County and native governments to grasp and supply context to their imaginative and prescient.
How will the brand new middle maintain itself?
The Institute is a 501(c)(3) and funding will come from authorities, grants, native companies, nationwide manufacturers and personal donations. The Institute will publish a quarterly financial impression report highlighting the variety of companies helped, jobs saved and created, consulting hours, wages and salaries saved or created, complete funding, and the return on funding capital. It will be significant that everybody perceive how the help funds are getting used.
What ought to a enterprise proprietor or new entrepreneur do in the event that they’d wish to reap the benefits of the providers supplied?
Most significantly, the Institute supplies consulting providers for free of charge to our shoppers. Go to our web site, https://coastalentrepreneur.org and schedule an appointment. Check out Our Providers and scroll a pattern of areas wherein we might help.