March 3, 2016 | Issue Number 75

February Seminar Series: Fiber Connectivity in Worcester

Businesses today are no longer able to effectively operate without Internet connectivity. The Worcester Chamber is working with fiber providers and the City of Worcester to lay out a plan that will strategically utilize our fiber assets and connectivity. The goal of the plan is to improve access to high-speed fiber creating greater demand for

On Weds., Feb. 24, the Worcester Regional Chamber of Commerce, Charter Spectrum, and Lightower came together to talk about the fiber optic resources available in the city. Thirty business professionals attended the event to learn about the existing infrastructure and participate in a discussion about next steps.

Presentations from Abigail McLaughlin from AJ Mayfair, LLC; Robert Demaria of Spectrum Business; and Chris Williams of Lightower provided an overview of the current landscape and discussed how the organizations work together to bring fiber to the city's business community.

The Chamber will organize a task force to make recommendations to the city and other stakeholders.

READ THE FULL REPORT

Snapshot of Credit Needs and Business Conditions among Small Businesses

FULL REPORT

NOTE

Data specific to the Central Mass region will be provided by the Federal Reserve Bank as soon as it is analyzed.

About the Survey

The Small Business Credit Survey questions firms about their business performance, financing needs and choices, and borrowing experiences. The survey captures the perspectives of businesses with fewer than 500 employees.

The SBCS is not a random sample; therefore results should not be interpreted as a statistical representation of small businesses in the coverage area or the nation. Rather, the results should be viewed as suggestive and analyzed with awareness of potential methodological biases.

What is the primary source of financing for small businesses? This question-among many others-was a central point of inquiry of the Small Business Credit Survey, a collaboration among the Federal Reserve Banks of Atlanta, Boston, Cleveland, New York, Philadelphia, Richmond, and St. Louis.

The Worcester Regional Chamber of Commerce participated in helping to collect data by send the survey to our members. Thanks to all who took the time to complete the survey and provide valuable information about our region to the Fed.

The overall aim was to better understand the business conditions, credit needs, and borrowing experiences of small businesses. As key drivers of job creation and economic development, small businesses' interest in and ability to access credit are not only important markers of their activities but also of the overall health of the nation's economy. Leveraging insights from the 2014 survey, the new study does a refreshed analysis of small firms that employee 500 or less employees, with additional focus on microbusinesses (<$100K in revenue), start-ups (0-2 years old), and growth companies (those that increased revenues and employees in the last 12 months and plan to increase or maintain the number of employees).

With responses from 3,459 firms across 26 states, the survey presents findings across a diverse set of employer firms.

Key findings include:

63% of responding small businesses hold debt: Most debt is small (<100K) and secured with personal assets.
Small banks have higher loan approval rates: Traditional bank lending continues to be the primary source of financing for small businesses. Employer firms applying for loans were most successful-and most satisfied with their borrowing experience-at small banks.
About 20 percent of small businesses apply for credit from online lenders, but they aren't entirely satisfied with the terms: The rates are even higher for microfirms with revenue less than $100K. While the approval rate was relatively high for borrowing firms (71 percent received at least some credit), approved firms were not very satisfied with their experiences.

Want to know more? Follow the conversation about small business credit using the hashtag #SmallBizCredit on Twitter.

New Mentoring Program Set to Debut at Women's Conference

Building on the success of the conference, new this year, the committee will introduce a new mentoring program called Reach Up & Out at the seventh annual Worcester Women's Leadership Conference.

Sponsored by Becker College, this program was created to introduce seasoned professionals with newcomers at the conference. Mentees will meet mentors who will share their own experiences and knowledge, answer questions or introduce them to others at the conference.

Signing up is as easy. After you have registered for the conference, select 'Interested in Becoming a Mentor/ Mentee.'

Calling all Employers

Wednesday, April 6, 2016

2 - 5 pm

Worcester Regional Airport

Presenting Sponsor

Workforce Needs?

...We have a solution!

Discover the intellectual capital of Central Massachusetts.

The Live. Work. Play. Stay. Career Fair is a wonderful opportunity to meet and recruit students seeking internship and career opportunities.

FIND OUT MORE!

Now Accepting Applications for the Class of 2016- 2017

A partnership between

Developing the next generation of leaders

Leadership Worcester, a class of about a dozen professionals, has experienced rave reviews and has been a huge success. That's according to the current class of participants who have toured the city, learned about the region's educational system, and are developing a strong network of peers.

Poised to launch the second year of the program, the program engages promising new professionals in Greater Worcester's civic life. Organizers are accepting applications for the program that begins with a retreat in September 2016.

Worcester is a center for commerce and education with a growing innovation industry. The City boasts quality neighborhoods, diverse cultural offerings and a strong quality of life. It is an ideal place to begin and build a career.

LEARN MORE

Sponsored by

Thursday

March 10, 2016

5 - 7:30 pm

Hibernian Cultural Center

19 Temple St., Worcester

REGISTER

Hosted by

A college degree is a step toward workplace success. Work experience through an internship is now also seen as an essential step. Still many millennials have both of those and remain unemployed or underemployed.

SKILL DEVELOPMENT WORKSHOPS

Schedule & Location | 6 Wednesdays from 3 - 5 pm

March 16

How to be a Team Player

March 23

Professionalism/ Positive Attitude

March 30

Business Communication

April 13

Work Ethic

April 20

Integrity/ Trustworthiness

All young professionals and interns are welcome at
meetups regardless of participation in the program.

Thursday, March 17, 2016

6 PM - 9 PM

Piranha Pond is a "pitch party" featuring entrepreneurs who pitch their ideas for up to 5 minutes to convince a panel of investors to meet with them to discuss their ventures. $50 application fee. FIND OUT MORE.

Tilton Hall in the Higgins Student Center at Clark University, 950 Main St., Worcester

General admission - $35

128ICG Members - $25

Spring Visitors' Guide

LAST CHANCE!

Discover Central Massachusetts is compiling a Spring Visitors' Guide to help visitors discover the many arts, museums, shops, restaurants, accommodations, and recreation facilities that Central Massachusetts has to offer. Get in on it!

The guide will be available in local hotels, shops, and establishments throughout the region and is a great way to attract new visitors to your business. Listings are $50 for one category and $75 for two categories. To place a color as in the Guide, and receive a free listing, please email the sales team at Pagio, Inc. [email protected].

Check out Woophoria

A night of fun, creativity, and entertainment at the EcoTarium!

For more information click here.

Interested in hiring graduates from 23 technical areas?

Worcester Technical High School Job Fair for Graduating Seniors

Thursday, April 7, 2016 | 11 am - 1 pm

The 23 Trade Areas Include:

- Machine Tool Technology & Manufacturing

- Automotive Collision

- Automotive Technology

- Computer Aided Design and Drafting
- Electromechanical Technology

- Welding Tool Technology

- Allied Health

- Biotechnology

- Early Childhood Education

- Environmental Technology

- Carpentry

- Electrical

- HVAC

- Painting and Design

- Plumbing and Pipe Fitting

- Programming and Web Development

- Cosmetology

- Culinary Arts

- Finance and Marketing

- Graphic Communications

- Hotel/Restaurant Management

- Information Support and Networking
- Veterinary Assisting

Contact Mary Blute for more details at 508.799.1981 or [email protected]

Symposium with Massachusetts Biotech Initiatives (MBI)

March 8, 2016 I 5:45 pm- 8:30 pm

MBI Headquarters

60 Prescott St., Worcester

March's Innovation Month Symposium will focus on women and entrepreneurial leadership and will feature some of the most innovative women in life sciences, locally and regionally. Speakers include Dr. Yael Schwartz, Lenore Rasmussen, Anastasia Khvorova, and Dr. Tanja Dominko.

COST: Non-members: $15 in advance, $25 at the door, Members and students: free ($5 for students walk-ins)

Pernet Family Health Service
to Celebrate 60th Anniversary

on April 6, 2016

Pernet's Executive Director Sheilah Dooley, second from the left, working with the International Secretariat for Justice, Peace and the Integrity of Creation in Paris, France.

Pernet Family Health Service is celebrating 60 years of providing strong family solutions! Since 1955, Pernet has been a stabilizing force in Worcester, by strengthening nearly 400 vulnerable, low-income families each year with emergency assistance, wholesome food, maternal and child home health care, and family support. Pernet serves 11,500 people annually.

Percent is a home health agency, providing hands-on, in-home care for mothers, their infants and children, as well as center-based food, emergency, and social services for men, women, youth, and children. They also provide services for children with, or at-risk for, developmental delays.

Online Survey for IT Staff

Take the survey

The Central Mass Workforce Investment Board is working on a US Department of Labor grant application to help prepare young adults for IT occupations.

Local employers, that have IT staff, are asked to complete this brief online survey.

All survey responses will be kept confidential and used in the aggregate only.

For more information about the grant, feel free to reach out to Jeff Turgeon at: 508.799-1509 or

[email protected]

Bryley Systems Recognized for Excellence in Managed IT Service

Bryley Systems has been recognized for their excellence in managed IT services and for their proactive approach to managing, optimizing and securing their client's IT infrastructure. CRN�, a brand of The Channel Company, has named Bryley Systems to its 2016 Managed Service Provider (MSP) 500 list in the MSP Pioneer 250 category. This annual list recognizes North American solution providers with cutting-edge approaches to delivering managed IT services. Their top-notch offerings help companies navigate the complex and ever-changing landscape of IT, improve operational efficiencies, and maximize their return on IT investments. See the list.

Building a Sustainable Worcester:

The Fresh Food Movement in Central Massachusetts

Weds., March 9, 2016

5:30 pm

Access Hanover Lyceum presentation

The local farm movement is alive and growing in Worcester County thanks to the perseverance of our farmers and the growing demand for locally produced food and other products. The farmers of Worcester County sell more products directly to consumers than almost any other region in the country. Central Mass Grown is now leading the effort to promote our region's rich farming heritage and the 1,500 farms that call this region home.

Learn more about the future of farming in the region and the potential it holds for building a greener, healthier and more sustainable community. Understand the agricultural economy's viability in providing good jobs, business opportunities, changing food policy, land conservation, healthier food choices and making Worcester County a more desirable place to live, work and visit.

Opening Remarks: Secretary of Energy and Environmental Affairs, Matthew Beaton

Keynote Speaker: Al Rose, owner of Red Apple Farm in Phillipston,

Panel Discussion: moderator: Senator Anne Gobi; panelists: Ken Toong, Executive Director of UMass Auxiliary Enter-prises; Kate Stillman, owner of Stillman Quality Meats; Maria Moreira, Executive Director of World Farmers Inc.; John Lawrence, owner of Peppers Fine Catering.

Update on the Worcester Regional Food Hub project: Steve Fischer, Executive Director of Regional Environmental Council of Central Massachusetts

Free to members of The Hanover Theatre and it's partners. General public: $10. MORE INFO

Mass. Small Business Development Center Network at Clark University

Spring 2016 Workshops Schedule

Great Marketing Research (The Foundation to Your Success)
Thursday,

March 10, 2016

Your Brand Versus Your Website

(How to Get the Most Impact)

Thursday, March 31, 2016

Solving the Social Media Puzzle

Thursday, April 21, 2016

The Power of the Inbox (Tips & Tricks for Successful Email Marketing)