Month: December 2020

Joey Frayne joins The Savvy Entrepreneur Radio Show to talk about Wisconsin's Qualified New Business Venture Tax Credit. He's worked with entrepreneurs his whole life, starting with working in the family's pizza franchise as a kid.

Now he counsels startups and small businesses of all kinds through his role as Investment Technology Manager at the Wisconsin Economic Development Corporation, or WEDC.

We talk about what the WEDC does, and some of its programs.  In particular, we focus on the Qualified New Business Venture Tax Credit.  The program is not a direct subsidy to small businesses.  Instead, it's a tax credit for those who invest in small and startup tech businesses, thereby boosting small businesses indirectly.  Investors can include angel firms, venture capital firms, family offices, or high net worth individuals.

Joey talks about how the program has grown and helped hundreds of small Wisconsin companies.  And for those not in Wisconsin, Joey assures me that many (if not most) other states have similar programs.

Take a listen by clicking on the arrow to the left!  You can also learn more about the program here.  You can also learn more about other Wisconsin resources to help entrepreneurs by listening to this podcast.

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Jeff Hodges is a self-described community agent of change.  As the founder of the One Sound Foundation and a key organizer in several other Chicago community support organizations, he makes the lives of his friends and neighbors better every single day.

One Sound Foundation evolved out of the work Jeff started doing with the Chicago Public Library.  Later, he partnered with DePaul University, teaching kids about digital music.  And he's also involved with several other community development initiatives, including the Imani Community Development Corporation,  which was founded by his father.

Click on the arrow to the left to take a listen — you'll be drawn in by Jeff's vision and enthusiasm.  And you'll quickly understand why starting and growing community nonprofits requires top-notch entrepreneurial skills.

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Lil Roberts knows a thing or two about accounting, finance and tax.  She co-founded Xendoo in 2017, and it has grown steadily since then.  Xendoo is an accounting and bookkeeping company for businesses with less than 20 employees.

Working with many small businesses over the past few years, she's seen some common mistakes and misconceptions.  She's particularly passionate about is the importance of balancing cashflow with profitability.  All too many small businesses just operate from their checkbook, and that means they don't see the whole picture.  She has seen many businesses that are overall profitable, but still run out of cash and go out of business.

Take a listen as Lil very clearly and simply takes us through the concepts of cashflow vs profitability, and then shares some tips to make sure your business stays profitable AND has healthy cashflow!  Or you can read a transcript of our interview here.

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