The ‘Startup Week Across America’ event incited an open conversation about steps the government can take to help entrepreneurs grow and prosper
By Samantha Bambino
The Times
Building a business from scratch is no easy feat. Sure, an aspiring entrepreneur can have the perfect idea that no one else in the world has thought of. But just an idea isn’t going to pay the bills. There needs to be a marketing strategy, plan for growth and, of course, initial finances to actually get the business off the ground.
For entrepreneurs, especially those of younger generations, all of this is easier said than done. Without proper guidance, it’s difficult to know where to begin, let alone how to compete with established companies. That’s why Bucks County Community College is taking steps to ensure the success of its students’ startups.
On the morning of Wednesday, Aug. 29, at BCCC’s Gene and Marlene Epstein Campus, 1304 Veterans Highway in Bristol, students of the school’s entrepreneurship program were joined by Congressman Brian Fitzpatrick for “Startup Week Across America.” The event, presented by the startup advocacy organization Engine, incited an open discussion about steps the government can take to help entrepreneurs grow and prosper.
At 10 a.m., BCCC president Stephanie Shanblatt stepped up to the podium to address the nearly 30 attendees of students, educators and board of trustees members, all of whom were seated in a massive, conversational circle. Shanblatt provided a handful of statistics that truly drove home the idea of how important startups are across all communities in America.
According to her, 2 million jobs have been filled at businesses less than a year old since 1992; 37 percent of all new entrepreneurs are women and 9 percent are African-American; and the number of Latino startup owners has tripled within the last two decades.
Tracy Timby, BCCC’s dean of business, then shared specifics on how the college is helping its up-and-coming entrepreneurs thrive in the often confusing, cutthroat startup environment. In 2014, it rolled out a campus-wide initiative to promote the “entrepreneurial mindset.” Through an increase in resources and innovation, including the creative space students refer to as “The Cube,” Timby explained BCCC’s goal is to help students recognize potential business opportunities, and understand the vital role determination and grit will constantly play.
“Failure is OK and you can learn from it,” Timby said. “You have to really persist in order to get that success that you’re looking for.”
Timby brought attention to a number of entrepreneurial events that take place throughout the year, including guest speakers, customized workshops such as the upcoming Women’s Summit on Entrepreneurship on Friday, Oct. 26 at BCCC’s Upper Bucks Campus in Perkasie, and the Start Me Up Challenge. In April at the Epstein Campus, five students were awarded cash prizes for their business concepts that were aimed at positively impacting Bucks County. For example, the challenge’s first-place title went to Anthony Prato and Rachel Hodgins, who brainstormed a model for Xenoil, which would recycle and remanufacture plastics, waxes and other difficult materials.
The “Startup Week Across America” event transitioned into a Q&A session, during which BCCC students were able to ask questions and share concerns with Fitzpatrick about the government’s role in helping startups succeed.
When posed with the question “what is the role of lawmakers in startups,” Fitzpatrick first drew attention to the nearby Mill Street in Bristol Borough, which he said has only three vacant spaces — a stark contrast to the dozens of dark window fronts that once plagued it.
“You’re seeing a lot of people step up and find their passion,” he said.
But, stressed Fitzpatrick, the success of these small business owners wasn’t an overnight thing. Rather, it took years of trial, error and financial hardships — something most entrepreneurs will experience unless they hail from an abundance of wealth. So how can the government help? Fitzpatrick touched on a few key programs.
First was the incubator and accelerator, a mentorship concept that pairs new business owners with those of established companies. The new entrepreneur is able to learn what did and did not work for their mentor, and gain valuable networking opportunities with investors. Second, Fitzpatrick described how the U.S. Small Business Administration offers grants, mentoring and other services to startups.
For approximately 20 minutes, the students fired off more questions, such as “what’s holding startups back the most?” To this, Fitzpatrick explained that initial funding and a skilled workforce are two of the biggest obstacles faced by today’s entrepreneurs.
“There’s a whole host of things that need to happen before an idea can truly take off,” he said.
Chiming in to the conversation was Bill Pezza, president of Bristol Borough Raising the Bar, who has witnessed firsthand the early financial struggles of most businesses along Mill Street. According to Pezza, a massive hurdle for new owners is the “sticker shock” of setting up pricey necessities such as internet, phone lines and an alarm system. Pezza suggested to Fitzpatrick an incentive program where companies such as Verizon and Comcast offer free or discounted services to new businesses for one year while they’re still getting on their feet. The congressman was all for the idea.
“I think we’re going to call it the Bill Pezza Act,” he said, encouraging owners present to share their stories with lawmakers, who may not always grasp everything that goes into starting a business. “We need to be there for people who are willing to take that risk.” ••
For more on Bucks County Community College’s entrepreneurship program, visit entrepreneurship.bucks.edu
Samantha Bambino can be reached at [email protected]
