(Spencer)– The Iowa Lakes Corridor Development Corporation is closing in on a benchmark when it comes to new small business start-ups in its four-county service area. Brian Dalziel tells KUOO news it’s further proof their efforts to help out budding entrepreneurs is having an impact…
“We raise over a million dollars a year to fund start-ups, $14.3 million over the last 10 years for the 99 start-ups that we’ve helped.”
Dalziel says that translates to a little more than a thousand jobs that were created in the Corridor…
“When you look at the statistics, nationally, you know, well over half of start-ups fail within the first year and half of those that survive fail in their second year. Where as here, of those 99 start-ups that have launched, only six have since gone by the way side. One of them achieved seven figure revenues and they did real well for four years, but then changing economic circumstances and so forth, you know, one of them left the market because of a family issue and then three of them just didn’t get traction. But, you know, the vast majority of the businesses that have launched, we have beaten the odds big time, and that’s because of the high quality entrepreneurs that we have and the high quality execution that they do, but we like to think that we play a nice small role in supporting those efforts by making sure the people are properly prepared, have the right mentors, have the right support, have enough money, and have a good path forward, and they’ll get that through Prepare To Launch.”
Dalziel adds they’ve come up with a way for area investors to also get involved through the “Angel Investor Network”…
“An individual signs up, a little one page form, answers some questions about themselves. The information is fully confidential. Then one companies come looking for cash, I simply match the criteria the company is looking for with the specifications that were provided by the potential investor.”
More information on the Angel Investor Network and the “Prepare To Launch” program that is an educational program for those looking to start up their own business is available by contacting the Iowa Lakes Corridor Development Corporation at (712) 264-3474 or at lakescorridor.com.
