November 11, 2004

Purdue workshop helps entrepreneurs form business plans

WEST LAFAYETTE, Ind. – Entrepreneurs thinking of starting a new business can discuss their ideas with experts from the Purdue University Cooperative Extension Service during an upcoming workshop.

The workshop, Entrepreneurial Challenge: From Idea to Income, is scheduled for Dec. 1-2 at the University Place Conference Center and Hotel on the campus of Indiana University-Purdue University Indianapolis. Early registration deadline is Nov. 24.

"If you have a business idea and are thinking about taking that idea to the next level, then you need to attend this workshop," said Mike Boehlje, a Purdue Extension specialist and co-director of the Agricultural Innovation and Commercialization Center. "You will come away from the workshop with practical ideas and new tools that can improve the chances of success in your business venture."

The workshop is especially timely because recent economic indicators show that Indiana is a good place to start a new venture.

"The economic indicators for small businesses in Indiana were positive for 2003," said Maria Marshall, a Purdue Extension agricultural economist. "Proprietor income in Indiana rose 11.5 percent from 2002 to 2003. This increase ranked Indiana eighth in the nation."

Indiana also ranked well in the Tax Foundation's 2004 Index. Indiana has some of the lowest personal income and capital gains tax rates in the nation. The foundation found Indiana's tax policies 12th friendliest for business development.

The first day of the workshop will deal with determining if an idea can be successful. Topics include marketing, networking and business planning.

"We've put a top-quality program together to give you insights on marketing, networking and the importance of business planning," said Joan Fulton, a Purdue Extension specialist and co-director of the Agricultural Innovation and Commercialization Center. "We have an exciting lineup of nationally recognized experts with entrepreneurial panels and opportunities for audience interaction."

Day two is a hands-on session with the online business planner developed by the center. Workshop participants will work through the business planner with the assistance of a Purdue instructor and develop their own business plans.

"You can expect to leave the program with a better understanding of how value-added business ventures are evolving and specific ideas of how to implement your new business plan," Fulton said.

Participants are required to register for each day separately. Cost for day one is $50 prior to Nov. 24 and $75 after that date. Additional participants from the same business are $25 per person prior to Nov. 24 and $50 after. Day two registration costs and deadlines are the same as the first day, but space is limited to the first 25 who register. Day two participants must also attend the first day of the workshop.

To register, contact Jane Anderson at (765) 496-3099, jane1@purdue.edu.

Entrepreneurial Challenge: From Idea to Income was developed by the Agricultural Innovation and Commercialization Center, Purdue Extension New Ventures team, Indiana Cooperative Development Council, Office of USDA Rural Development and Indiana Farm Bureau.

Note to Journalists: Journalists wanting to attend the workshop should make arrangements in advance with Jane Anderson by calling (765) 496-3099.

Writer: Kay Hagen, (765) 494-6682, kjh@purdue.edu

Sources: Mike Boehlje, (765) 494-4222, boehljem@purdue.edu

Joan Fulton, (765) 494-0594, fultonj@purdue.edu

Maria Marshall, (765) 494-4268, mimarsha@purdue.edu

Jane Anderson, (765) 496-3099, jane1@purdue.edu

Ag Communications: (765) 494-2722; Beth Forbes, forbes@purdue.edu
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