RAPIDS changing course. (Sault Ste. Marie).Building on the success of past workshops and seminars aimed at helping small- and medium-sized businesses grow, RAPIDS rapids Noun, pl part of a river where the water is very fast and turbulent rapids npl (GEO) → rápidos mpl rapids rapid npl (Geo Community Investment Inc. has shifted its focus to concentrate on financing and exporting - two key words that go hand in hand, says the president and general manager of RAPIDS. In previous years RAPIDS focused on the education and training areas of business expansion and new business startups. In late October the organization announced its new mission, new name and new direction. "RAPIDS did a diagnostic study on the city to determine what is needed in order to grow businesses in the Sault sault n. A waterfall or rapids. [Obsolete French, from Old French, leap, waterfall; see somersault. ," says Larry Little Lawrence Chatmon Little (Born November 2, 1945, in Groveland, Georgia) is a former guard in college and professional American football. He played collegiately at Bethune-Cookman College. . "We found two of the largest barriers to business growth are access to capital and knowledge (of export opportunities)." The organization also partnered with the Niagara Enterprise Agency (NEA NEA abbr. 1. National Education Association 2. National Endowment for the Arts NEA (US) n abbr (= National Education Association) → Verband für das Erziehungswesen ) to determine how NEA's successful business development model can be tailored to meet the needs of Sault Ste. Marie Sault Sainte Marie — pronounced "Soo Saint Marie" (IPA /su seɪnt məˈɹi/) — is the name of two cities on the Saint Marys River, which forms part of the boundary between the United States and Canada. and the Algoma region. The offspring has been the development of RAPIDSuccess Business Growth Inc., which is comprised of two independent operating arms aimed at helping businesses grow, Little says. One component of the new venture is the establishment of an export development adviser under the auspice aus·pice n. pl. aus·pi·ces 1. also auspices Protection or support; patronage. 2. A sign indicative of future prospects; an omen: Auspices for the venture seemed favorable. of a FedNor program, supported by the community future development corporations and economic development corporations of Sault Ste. Marie and Algoma. "The export initiative is key for Sault Ste. Marie because we are on the border of our largest trading partner," Little says. The other facet facet /fac·et/ (fas´it) a small plane surface on a hard body, as on a bone. fac·et n. 1. A small smooth area on a bone or other firm structure. 2. is a funding arm, which is comprised of a network of financial advisers to assist businesses access funding for business growth. RAPIDSuccess is the result of a collaborative effort between the public and private sector, and continued community commitments. The board of directors is comprised of business leaders who have volunteered their time and expertise to the organization, while the advisory board consists of a wide range of experienced executives who serve as both advisers and as a network of expertise and information, Little explains. The initiative is being funded at three levels: FedNor announced on Oct. 26 funding of $500,000 towards the partnership, the private sector and the City of Sault Ste. Marie have committed $100,000 to the first year's operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. and RAPIDSuccess is projecting revenues from operations over the next two years to reach $200,000. www.rapids.on.ca |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion