Yes, this is a valuable resource for new small business entrepreneurs. I served on one of these boards for several months and saw how valuable a resource this was. We neither charged for this service nor funded their efforts; we only advised. First, we would discus the perceived merits of their ideas, if needed. Then we found out how well they understood the potential of what they were proposing, the market for it, who their competitors might be and how they would stack up compared to them. It was eye opening to many who had great new technology ideas (my role). Most did not know much about the realities of having a business plan, contingency planning, exit criteria if things didn’t work out or where and how to look for funding. Later sessions would review business plans and get into the realities of needed production scale up, marketing and distribution schemes. I don’t know how many were successful but I do know that if they followed our collective advise, they were well prepared to be successful. Many folks with really good ideas have no clue regarding all the other stuff that has to be attended to in order to get their good idea into practice. This program can truly help them and the country develop new or better products and services.

Absolutely! I have been associated with the organization as both an entrepreneur and a retired executive. The support provided by the organization is invaluable. In the early days of a startup or in periods of high growth, the ability to work with people who have been there, well, it was probably instrumental in my success. I don’t know of a better testament.

Small businesses are the backbone of Maine’s economy.