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 Observations From IEDC Annual Conference
by Jim Damicis, Senior Vice President
I recently attended the Annual Conference of the International Economic Development Council (IEDC) in Charlotte NC. It was an opportunity to learn and network with economic development professionals from all over the globe. As Senior Vice President of Camoin Associates I was able to meet and chat with lots of practitioners at our exhibitor booth, plus was a presenter at two sessions: one on using occupation analysis to grow technology sectors and transforming economic development. Additionally I was able to attend other sessions. While the programs covered many topics from manufacturing to entrepreneurship to retail development in the course of my discussions with colleagues and during the presentations there were a few observations that stuck in my head as they continually emerged throughout the course of the week.
To read these observations from the Annual Conference, please click here.
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International Micro-Credit Programs: Are They Good for Economic Development?
by Alison Bates, Economic Development Specialist
Micro-credit and micro-enterprise programs are an increasing component of economic and social development strategies in poor nations. These programs provide small loans to residents to start or maintain a local business. It is important to note that in many places, the repayment rate of these loans is nearly perfect. For instance, in Bangladesh, "over the past 2 1/2 decades, the Grameen Bank of Bangladesh has made more than $4 billion in loans... and has a loan repayment rate greater than 98 percent."
Micro-credit aims to pay for the education and training of poor, rural populations. Often times 'education' is cited as a way to reduce poverty, and improve the standard of living. Micro-credit and micro-enterprise make this otherwise vague remedy a reality by infusing money directly into targeted educational programs. For instance, women throughout Africa participate in the micro-enterprise 'Job Skill Program' which teaches literacy, nutrition, health, and essential profitable skills such as dressmaking, so these women may become entrepreneurs and contribute to the local economy.
To read some more considerations about these programs, please click here.
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Business Incubators: The Importance of Routine Checkups
by Rachel Selsky, Senior Economic Development Specialist
Continuing with the ED Navigator's series on business incubators, this article outlines the importance of performing a "routine checkup" on the businesses in the incubator and a checkup of your relationship, as the incubator manager or Economic Development Official, with the larger business community.
Routine checkups conducted on an annual or semiannual basis will allow your organization to remain effective and efficient. Depending on the size of the incubator, the medium/tool for this dialogue varies and can include annual surveying, quarterly check-ins and/or other means of communication.
Most importantly, the dialogue that ensues between you and the businesses during the checkup will ensure that you are well aware of the current needs or issues that businesses are facing and can step in with additional assistance as necessary. Routine checkups can help you identify, for example, if a business is having a particularly tough time establishing credit or identifying customers. Being aware of these types of problems early may allow you to make a contact or step in on their behalf before these issues become more serious.
To learn more about incubators and how important it is to do checkups, click here.
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News from Camoin Associates
Camoin's Michael N'dolo Attains IEDC Certification - Camoin President, Rob Camoin states "our company is dedicated to maintaining high professional standards for our clients and we are proud of Michael's achievement."
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