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Who gives a hoot? 

Thursday, July 22, 2010

Everyone's doing it - tweeting, friending, connecting - but you just don't have the time to add one more responsibility to your plate.  Guess what?  You don't need to spend hours a day updating your social networks.  In fact, you don't even have to hop from web site to web site - you can manage all of your social media efforts from one place in a matter of minutes by signing up for a free account on a site such as hootsuite.com.  Hootsuite allows you to organize your networks, spread messages, monitor mentions, track results, schedule updates and more on sites like FaceBook, Twitter, WordPress and LinkedIn  - not to mention it saves you time, and perhaps your sanity.  Why should you give a hoot? Because social media is not going anywhere anytime soon, and if you're not "LinkedIn" to this latest trend, then you're going to be left in the dark. So check it out - and get your feet wet by choosing a couple of sites to target your energy on at first and you'll see that it will be worth your while. Need help establishing your social media networks and planning your strategy?  CERC's marketing department might be able to help you with your efforts - contact Kristi Sullivan, CERC's VP of Marketing.

- MaryAnn Simkewicz, CERC, Marketing Account Supervisor

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Do you have a plan? 

Friday, July 16, 2010

Planning is a key component for any business and it all starts with the business plan.  Have an idea and want to make a business out of it?  Write a business plan. Entrepreneurs often have multiple ideas and write a business plan for each in order to identify the feasibility of them.  If one idea doesn't work, move on to the next until you identify the one that you think will succeed.  Bottom line, the likelihood for success after writing a business plan is far greater than if you do not have one.  A well developed plan is not a static document - it should be constantly evolving and needs to work for the business now and in the future.

Now, I'm not saying that the business plan is the end all be all when it comes to success, but it certainly lays the foundation for a solid business. There are many variables tied to a successful business - some within and some out of the entrepreneur's control, but being prepared is imperative. One of the biggest mistakes an entrepreneur can make is to rush into a business venture.  Entrepreneurs need to take the time to thoroughly research their ideas, including talking to people experienced at starting businesses in the industry or to people who work with others starting businesses, and surrounding themselves with the resources that support them.

Need help? There are many resources available in Connecticut to help entrepreneurs succeed, such as:

O.K., now that the business plan is done, go ahead and start planning some more with a strategic plan, marketing plan and so forth.  The work is never done!

- Elizabeth Wallace, EDP, Director of Smart Start/Connecticut Licensing Info Center (CT-CLIC)

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Dancing About Some Economic Optimism 

Friday, July 09, 2010

On July 7 I attended an investment outlook event sponsored by TD Bank.  The keynote speaker was Robert Gorman, Chief Portfolio Strategist, TD Bank Financial Group.  Mr. Gorman presented some concerns and strengths of the national economy. 

Among the highlights were the following:

  • The rate of economic recovery is slower than average recoveries.  However, there has been some economic growth.
  • Monetary policy has been generally accommodative, meaning that the central bank increases the money supply in order to ease the availability of credit.
  • The oversupply of residential housing is still a concern.  Foreclosures are still occurring because adjusted rate mortgages are coming due and unemployment is still high.  However, the price adjustments along with low interest rates improve affordability, which will help sales over the near term.
  • Commercial real estate is another concern because there is an oversupply and reduced demand.  There were many refinances in 2006, and these will be coming due in 2011, further exacerbating the problem because many will have property values that are less than the loan values.

According to Mr. Gorman, the U.S. is in the second year of a four-year economic recovery period.  Economic conditions are improving, although slowly, and the chance for a double-dip recession is not high.

After Mr. Gorman’s speech I felt somewhat optimistic about the overall economic recovery.  I was not ready to start dancing down the street, since there are two more years to go in this economic recovery, but at least we are about halfway through.

- Alissa DeJonge, CERC Director of Research

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Connecticut’s Energy Resource Planning 

Tuesday, June 29, 2010

Since 2003, CERC has provided administrative support to the Connecticut Energy Advisory Board (CEAB). Much of our recent efforts have supported CEAB’s participation in DPUC Docket 10-02-07: DPUC Review of the 2010 Integrated Resource Plan (IRP). Connecticut’s electric distribution companies (EDCS) filed their IRP in January and after review of the EDCs’ IRP, CEAB filed its 2010 Comprehensive Plan for the Procurement of Energy Resources in April. CEAB’s Plan stresses the need for Connecticut to make significant changes and investment over the next 20 years to make the state’s electric supply cleaner, greener, secure, reliable and affordable.

Hearings in the DPUC Docket commenced in early June.  Final briefs from Docket participants will be filed today. The DPUC plans to issue a Draft Decision by mid-August. Those of us involved with the plan are anxious to hear DPUC’s decision in the Docket on how to move forward with CEAB’s recommendations. If you are interested in following the Docket more closely, all filings in the matter can be accessed at: http://www.dpuc.state.ct.us/dockcurr.nsf/(Web+Main+View/All+Dockets)?OpenView&StartKey=10-02-07

- Gretchen Deans, Director of Administration, CT Economic Resource Center, Inc.

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CERC SiteFinder Highlighted During Site Tour 

Thursday, June 24, 2010

It was exciting to be able to present the CERC SiteFinder web site to the 13 site selectors in Connecticut for the 2010 Connecticut Champions Site Selector Tour this week. Our new SiteFinder is powered by GIS Planning, the administrator of ZoomProspector.com, which is a national web site tailored to site selectors. I was excited to show them that SiteFinder has all of the information that they need - from sites and buildings, to demographic and business reports community wide or in a radius or drive time around an available property. I was also very proud to tell them that we not only have the quantitative demographics that other economic development organizations offer, but we also have qualitative data from many of our communities. We have information on major employers, hotels, hospitals, golf courses, educational institutions, and more - all in one place, something you can't find anywhere else. I love presenting this web site, especially to the very people it was meant to assist - they were impressed!

Learn more about the site tour...

- Melissa Pasquale, Director of Real Estate, CERC

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