On this episode of The Small Business Radio Show…
SEGMENT 1, starting at 0:00: The Head Administrator at the Small Business Administration has the opportunity to have an impact on so many small business owners. Here joining us for an inside look is the former Head Administrator for the US Small Business Administration, Karen Mills.
SEGMENT 2, starting at 19:00: On January 1, 2020, recreational cannabis becomes legal in Illinois as it has in so many states across the US. So many entrepreneurs are rushing to the business of cannabis as the new gold rush. But is it? What does it take to be successful in this industry? Jon Monk, who runs the consulting company Smokin’ Hot Solutions, is here to help.
SEGMENT 3, starting at 37:00: How many of the US’s small businesses participate in giving back to the community? The answer may surprise you. Jay DesMarteau is here to share the results of TD Bank’s 2019 #TDThanksYou Survey, which provides insight into the charitable attitude of small businesses.
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More on each segment below.
Segment 1: Karen Mills is the former Head Administrator for the US Small Business Administration. As Head Administrator in President Obama’s Cabinet, she was responsible for advocating for America’s 30 million small businesses and entrepreneurs. She is the author of “Fintech, Small Business & the American Dream”.
1:30 – What were your biggest accomplishments as the Former Head of the SBA?
5:15 – What is the current state of lending for small business?
8:45 – What is your vision of utopia for small business lending?
10:30 – Are banks on board with this vision?
12:00 – What should small businesses be wary about in the future of lending?
13:00 – What will happen to lending during a recession?
13:45 – What was your inspiration for writing “Fintech, Small Business & the American Dream”?
15:00 – Why was it important for you to be at the B2SMB Conference?
Segment 2: Jon Monk is the Managing Director at Smokin’ Hot Solutions, a consulting company that serves the cannabis and related industries. He has a proven track record of leadership and business development in the marketing, finance, and consumer products sectors.
19:00 – Is cannabis the new gold rush for entrepreneurs?
21:30 – What are the essential elements needed to succeed in the cannabis industry?
22:30 – What’s involved in getting a license from the government to operate a cannabis industry?
23:30 – How do you get political support for your cannabis business?
24:15 – How much money does it cost to get started in the cannabis industry? How does banking work?
25:45 – What do the economics of the business look like? What are the margins?
29:00 – What taxes affect cannabis businesses?
31:00 – Is it too late to get into the cannabis industry?
Segment 3: Jay DesMarteau is Head of Commercial Distribution at TD Bank, where he leads the sales strategy for Small Business and Commercial teams including Small Business Banking, SBA Lending, Restaurant and Franchise Finance, Healthcare Practice Solutions, Merchant Solutions and Treasury Management. TD Bank’s 2019 #TDThanksYou Survey provides insight into the charitable attitude of small businesses.
37:00 – Who exactly are the businesses TD Bank surveyed for the #TDThanksYou Survey? How many of the US’s small businesses participate in giving back to the community?
40:00 – Why is it so important for so many small business to give back to the community?
42:15 – In what creative ways are small businesses giving back to the community beyond donating money?
43:30 – How many small business have a formal volunteer program for their employees?
44:15 – How do small businesses most enjoy being thanked for their charitable work?
46:45 – The importance of personal connections in small business.
48:45 – What is TD Bank doing to support small business across the country?
