PASBDC Business Owners Optimistic about 2020 Economy

KUTZTOWN, PA (11/20/2019) The annual Pennsylvania Small Business Development Center (PASBDC) Entrepreneur Economic survey results are in and it looks like small-business owners across the Commonwealth are optimistic for the coming year.

As of the date of this release, 660 small-business owners out of more than 9,000 clients served by the PASBDC over the past three years responded to the PASBDC annual survey. The aggregate results indicate that 25% expect the economy in 2020 to get better and 40% expect it to be the same. Small-business owners are even more positive about their own firm\’s growth with more than 65% expecting their revenue to increase and 60% expect profitability to improve.

When it comes to their intentions to hire more workers, the results indicate that 37% expect to hire additional staff with hiring happening either primarily in the second quarter of 2020, or steadily throughout the year. Please see the charts in the link below for more details:

https://www.surveymonkey.com/stories/SM-3MJ9WXR7/

The PASBDC network of 16 centers and more than 90 outreach offices serves pre-venture and established business owners throughout the Commonwealth with no cost, confidential professional consulting services. These consulting services include help with strategic planning, market or sales strategies, financial analysis and loan packaging, export marketing reports, cybersecurity, government procurement and certifications. This past year, more than 7,000 small-business owners sought help from their local SBDC as a proactive step toward working on their business to either start or to grow their business.

With such a positive 2020 economic outlook from existing clients and increasing request from growth entrepreneurs for strategic planning, the PASBDC projects the demand for consulting services to remain very high. Professional full-time consultants at 16 premier Pennsylvania higher education institutions deliver world class consulting help to early stage and growth entrepreneurs. Unlike many other programs, PASBDC consultants can work with any for-profit entrepreneur in the Commonwealth that meets the SBA definition of a small business (typically less than 500 employees). To be able to meet these entrepreneurs\’ increasing needs, the PASBDC is seeking additional funding of $2 million from the Department of Community and Economic Development (DCED) to support the 3E (Empowering Entrepreneurs through Engagement) program for growing the Commonwealth\’s entrepreneurial economy. The 3E program leverages the PASBDC\’s unique placement and affiliation with Pennsylvania higher education and its federal partner, the Small Business Administration.

\”By engaging our existing entrepreneurs, our alumni and our student entrepreneurs, we will expand Pennsylvania\’s position as an excellent state in which to start and grow a business,\” said PASBDC State Director Ernie Post.

Empowering Entrepreneurial Skill Trades Sector Growth

First, PASBDC will use a portion of the DCED 3E investment to apply for other federal grants such as POWER and EDA. The DCED investment will enhance entrepreneurial engagement with skilled trades workers such as electricians, plumbers, welders, carpenters, masonry and HVAC to increase new business startups within the trade skill workforce. Leveraging existing institutional relationships with community colleges, trade schools and apprenticeship programs will help fuel the launch of new business startups within the skilled trades sector.

Empowering Student Entrepreneur\’s

Building on this program, PASBDC will work with more than 7,000 existing entrepreneurs to offer growth assessments, strategies and tactics to help them remain on a growth trajectory. Leveraging PASBDC\’s place at universities, internship programs will connect students with small growing businesses that desperately need an educated workforce for continued growth.

Using the highly-successful University of Scranton SBDC internship program as a model, the PASBDC will replicate this model in every region of the Commonwealth. This will achieve several economic development objectives including linking college students with existing entrepreneurs, providing experiential learning for students that will lead to them considering entrepreneurship as a career pathway and helping existing entrepreneurs with their current workforce need for continued growth. PASBDC\’s host institutions recruit a considerable number of students to come to Pennsylvania for their education. This program will help students consider staying in Pennsylvania after graduation for job opportunities or to launch a small business.

Engaging Alumni

The 16 universities in the PASBDC network graduate more than 25,000 students each year. This presents an opportunity to launch an alumni event campaign promoting the benefits and resources available in Pennsylvania to help them start a business or to purchase an existing business. This will help to create potential buyers of Pennsylvania existing businesses that having owners seeking to exit their businesses in the future. Pennsylvania has a high percentage of business owners over the age of 55. Their exit will cause a major disruption to the Commonwealth\’s economy if new business owners are not recruited and connected with aging entrepreneurs. The PASBDC is uniquely positioned to run alumni campaigns to recruit potential business buyers. As part of this campaign, the PASBDC will create a webpage that is specifically designed to allow potential business buyers to connect with businesses that are available for sale in the Commonwealth. To help facilitate the successful transition of the Commonwealth\’s aging entrepreneurs, the PASBDC will develop a business valuation and succession planning programs to guide business sellers to a successful transition to a new owner.

Engaging the Entrepreneurial Ecosystem

Finally, PASBDC\’s host institutions connect the network\’s centers with accelerators, incubators and makerspaces that have been launched across the Commonwealth. A portion of this $2 million DCED investment will be used to connect these accelerators, incubators and makerspaces with PASBDC technical assistance, business consulting and educational programs within these locations.

For more information about the funding request or the PASBDC, contact 1-877-4PA-SBDC.

About Pennsylvania Small Business Development Centers (SBDC)

The Pennsylvania SBDC network is the only statewide, nationally accredited program that provides high quality one-on-one consulting, training and information resources to empower new and existing businesses. SBDC consultants work with entrepreneurs in confidential, individualized sessions to help them with a range of business issues including testing a new business proposition, shaping a business plan, investigating funding opportunities and much more. The SBDC program is a public/private partnership with the U.S. Small Business Administration, the Pennsylvania Department of Community and Economic Development and 16 universities and colleges across the Commonwealth. For more information on the Pennsylvania SBDC services and impact, please visit

www.pasbdc.org

About Kutztown University Small Business Development Center (SBDC)

The Pennsylvania Small Business Development Centers (PASBDCs) work with small firms to help them compete and grow in today\’s highly competitive global economy. Combining the expertise of a professional staff with the resources of the state\’s best colleges and universities, the SBDCs provide high quality business management consulting, information, and educational programs that build small firms\’ capacities to compete in domestic and international markets. Funding support and resources for the Kutztown University SBDC program are provided by the Commonwealth of Pennsylvania through the Department of Community and Economic Development, through a cooperative agreement with the U.S. Small Business Administration, and through support from Kutztown University. All services are extended to the public on a non-discriminatory basis. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. Special arrangements for persons with disabilities can be made. The KUSBDC is also funded under a cooperative agreement from the Defense Logistics Agency.

5 Key Upgrades For Your Business

A smart business owner will always be looking for upgrades to boost their brand. Things can change quickly in the business world, and being able to update and stay current is critical for staying ahead of the competition and satisfying your customers. Even a minor upgrade could have a big impact on the success of your brand, so it is always worth considering any kind of positive change, no matter how big or small. With this in mind, here are a few upgrades to consider, which could help your business and keep you ahead of the curve.

1.Chat

It needs to be easy for your target customer to get in touch with you so that they can get questions answered. If it is hard to contact your team and/or it takes too long to receive a response, then they will simply take their business elsewhere, which is why having a live chat function is so valuable and a simple upgrade that you can easily make.

2. Web Hosting Company

Upgrading your web hosting company to a reliable provider like Krystal is a simple yet highly effective move to make. Modern-day consumers will not wait around for pages to load, and you need to have a website that you can rely on; an experienced and trusted web hosting company is the best way to achieve this.

3. Technology

There is constantly new technology being developed, which means that it can be hard to stay current. Upgrading your tech that you use in the office can streamline the business operation, reduce workload for your staff, increase productivity, boost morale, and much more. New tech can be a huge expense, but you could always look to lease new technology, which also gives you the ability to upgrade again once the lease expires.

4. Marketing

Marketing is another area that is constantly changing and developing, so making a slight change to your strategy could be a fruitful upgrade. Marketing strategies like SEO and PPC remain hugely important, but you could look into another method to revamp your marketing strategy and attract new business. Influencer marketing is a good option to try and is a form of marketing that is on the rise.

5. Cybersecurity

Cybercrime is on the rise and is the biggest threat affecting businesses. It will only become a bigger problem in the coming years, which is why it is so important for businesses to be aware of these threats and to have high-quality cybersecurity in place. Upgrading to industry-leading antivirus software, VPN, and a firewall will be vital for protecting your business and customers and will provide peace of mind during what can be worrying times, especially when you hear of so many horror stories of businesses being affected by cybercrime.

These upgrades could help your business to grow and find greater success. You do not always have to make huge changes and formulate complex growth strategies to boost your business, as even a small upgrade could have a big impact on your business.

Acreage Holdings Looking at $317M in Medical Cannabis Sales with Purchase of NJ Compassionate Care

Company Release – 11/18/2019 7:30 AM ET

NEW YORK, Nov. 18, 2019 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.U) (OTC: ACRGF) (FSE: 0ZV) announced that on November 15, certain of its subsidiaries and Compassionate Care Foundation, Inc. (“CCF”), a New Jersey vertically integrated cannabis nonprofit corporation, entered into a Reorganization Agreement, pursuant to which Acreage will acquire 100% of the equity interests in CCF, and subsequently consolidate their financials. Closing of the transaction is subject to state approval.

With a population of approximately nine million, New Jersey is estimated to generate $317 million in legal medical cannabis sales by 2022, according to Arcview Market Research.

“I’m thrilled to finally welcome CCF into the Acreage family,” said Kevin Murphy, Chairman and Chief Executive Officer of Acreage. “This reorganization will result in increased access to affordable medical cannabis for New Jersey’s existing patients in short order. Moreover, we have long believed that upon adult-use legalization, the New England and Mid-Atlantic regions will be the preeminent cannabis market in the U.S. and Acreage is best positioned of any U.S. cannabis company to benefit.”

CCF Operations

CCF’s vertically integrated operations include licenses for cultivation, manufacturing & processing, and three retail dispensaries. A description of the operations follows:

Cultivation:

CCF operates one of New Jersey’s largest indoor growing facilities, primarily for high end flower, in Egg Harbor, NJ. Acreage and CCF are planning to expand this facility to serve the existing demand for medical cannabis and in anticipation of adult-use legalization, and to build out a robust wholesale business.

Retail Dispensary Operations:

CCF has the potential to operate three retail dispensaries, one of which is currently in operation in Egg Harbor. An additional dispensary is under construction in Atlantic City as The Botanist, and an letter of intent has been signed for another The Botanist dispensary in Williamstown, NJ.

ABOUT ACREAGE

Headquartered in New York City, Acreage is one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., according to publicly available information. Acreage owns licenses to operate or has management or consulting services or other agreements in place with license holders to assist in operations in 20 states (including pending acquisitions) with a population of approximately 180 million Americans, and an estimated 2022 total addressable market of $16.7 billion in legal cannabis sales, according to Arcview Market Research. Acreage is dedicated to building and scaling operations to create a seamless, consumer-focused branded cannabis experience. Acreage\’s national retail store brand, The Botanist, debuted in 2018.

On June 27, 2019 Acreage implemented an arrangement under section 288 of the Business Corporations Act (British Columbia) (the “Arrangement”) with Canopy Growth Corporation (“Canopy Growth”). Pursuant to the Arrangement, the Acreage articles were amended to provide Canopy Growth with an option to acquire all of the issued and outstanding shares in the capital of Acreage, with a requirement to do so, upon a change in federal laws in the United States to permit the general cultivation, distribution and possession of marijuana (as defined in the relevant legislation) or to remove the regulation of such activities from the federal laws of the United States (the “Triggering Event”), subject to the satisfaction of the conditions set out in the arrangement agreement entered into between Acreage and Canopy Growth on April 18, 2019, as amended on May 15, 2019 (the “Arrangement Agreement”). Acreage will continue to operate as a stand-alone entity and to conduct its business independently, subject to compliance with certain covenants contained in the Arrangement Agreement. Upon the occurrence or waiver of the Triggering Event, Canopy Growth will exercise the option and, subject to the satisfaction or waiver of certain conditions to closing set out in the Arrangement Agreement, acquire (the “Acquisition”) each of the Subordinate Voting Shares (following the automatic conversion of the Class B proportionate voting shares and Class C multiple voting shares of Acreage into Subordinate Voting Shares) in exchange for the payment of 0.5818 of a common share of Canopy Growth per Subordinate Voting Share (subject to adjustment in accordance with the terms of the Arrangement Agreement). If the Acquisition is completed, Canopy Growth will acquire all of the Acreage Shares, Acreage will become a wholly owned subsidiary of Canopy Growth and Canopy Growth will continue the operations of Canopy Growth and Acreage on a combined basis. For more information about the Arrangement and the Acquisition please see the respective information circulars of each of Acreage and Canopy Growth dated May 17, 2019, which are available on Canopy Growth’s and Acreage’s respective profiles on SEDAR at

www.sedar.com

. For additional information regarding Canopy Growth, please see Canopy Growth’s profile on SEDAR at

www.sedar.com

FORWARD LOOKING STATEMENTS

This news release and each of the documents referred to herein contains “forward-looking information” within the meaning of applicable Canadian and United States securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information, including, for greater certainty, statements regarding the proposed transaction with Canopy Growth, including the anticipated benefits and likelihood of completion thereof.

Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Acreage’s current beliefs and is based on information currently available to Acreage and on assumptions Acreage believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Acreage to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory approvals; the available funds of Acreage and the anticipated use of such funds; the availability of financing opportunities; the ability of Acreage and Canopy Growth to satisfy, in a timely manner, the conditions to the completion of the Acquisition; the likelihood of completion of the Acquisition; other expectations and assumptions concerning the transactions contemplated between Acreage and Canopy Growth; legal and regulatory risks inherent in the cannabis industry; risks associated with economic conditions, dependence on management and currency risk; risks relating to U.S. regulatory landscape and enforcement related to cannabis, including political risks; risks relating to anti-money laundering laws and regulation; other governmental and environmental regulation; public opinion and perception of the cannabis industry; risks related to contracts with third-party service providers; risks related to the enforceability of contracts; reliance on the expertise and judgment of senior management of Acreage; risks related to proprietary intellectual property and potential infringement by third parties; the concentrated voting control of Acreage’s founder and the unpredictability caused by Acreage’s capital structure; risks relating to the management of growth; increasing competition in the industry; risks inherent in an agricultural business; risks relating to energy costs; risks associated to cannabis products manufactured for human consumption including potential product recalls; reliance on key inputs, suppliers and skilled labor; cybersecurity risks; ability and constraints on marketing products; fraudulent activity by employees, contractors and consultants; tax and insurance related risks; risks related to the economy generally; risk of litigation; conflicts of interest; risks relating to certain remedies being limited and the difficulty of enforcement of judgments and effect service outside of Canada; risks related to future acquisitions or dispositions; sales by existing shareholders; and limited research and data relating to cannabis. A description of additional assumptions used to develop such forward-looking information and a description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Acreage’s disclosure documents, including the Circular and Acreage’s Annual Information Form for the year ended December 31, 2018 filed on April 29, 2019, on the SEDAR website at

www.sedar.com

. Although Acreage has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Acreage as of the date of this news release and, accordingly, is subject to change after such date. However, Acreage expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Neither the Canadian Securities Exchange nor its Regulation Service Provider has reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

How to Support Small Businesses

Gloucestercitynews.net (11-20-19)–Small businesses are the pillars of your community in Gloucester, providing you with an interesting, unique, and bustling town center from which you can buy gifts and essentials at the last minute. However, many small businesses struggle up against the monolith presence of big online brands such as Amazon, especially during the holiday period.

Read on for more information on how you can support small businesses now and in the coming year, and make a small business owner extremely happy.

Eat and Shop at Independent Businesses

Your personal finances may not always allow you to shop at independent businesses. However, if and when you are able to, it is important that you skip the sales and low prices of online shops in order to support your local community and buy your gifts and essentials from physical stores, even if these are not always the cheapest options. Not only this, but it is also important that you eat at independent restaurants rather than at chains to ensure that these are able to thrive. Restaurants and pubs such as

The Hole in the Wall Chichester

can provide you with a unique experience that you would not be able to receive at some of the larger chains, whether you want to host a small gathering, pop in for a drink, or plan a Christmas party.

Share Their Social Media Posts

If you are not able to afford to shop locally at the current time, or want to help spread the word about your favorite small business, you should also share their social media posts and website links whenever possible. This will help to raise awareness about the business in question, as well as give you the opportunity to provide them with an easy referral through sharing your positive experience with your followers. A simple way that you can share posts on social media is through reposting their updates on your Instagram or Facebook stories, as this both links to the company in question and allows you to promote their brand for a limited period of time.

Create an Event for Small Business Owners

To bring small business owners together and get others in your community more interested in local business, you should consider

setting up an event for small business owners

in the Gloucester area. In order to achieve this, you should plan the focus of the event, such as selling their goods on stalls which local residents can buy, or connecting and

networking with other small business owners

You should also make sure that you are able to complete tasks such as booking an appropriate venue, marketing your campaign online and through posters and leaflets in your local area, and inviting the right attendees.

Give Them Positive Reviews

If you have bought a product or service from a local business, the final action that you can take to support them is to give them a positive review online (on

small business directories

such as Yelp) or on their website. You could also recommend them through word-of-mouth, which is a popular technique to grow small businesses’ customer base.

images courtesy of pixabay