The Rocky Mountain Collegian

Issue date: 4/13/09 Section: News

Media Credit: Lisa Streeb Danielle Inglehart, left, and Jay Inglehart stand in the kitchen where they produce salsas and sauces for their company, Gilberto's Gourmet Goodness, on March 24, 2009.

While the majority of CSU alumni-owned businesses are surviving in a fluctuating and unpredictable global economy, all are developing strategies to maintain a competitive edge.

And those business owners feeling the impact of the economy are turning to the Fort Collins Small Business Development Center, which provides business counseling and informational classes to a now-growing client base.

"Our clients are saying business is slow," SBDC Executive Director Mary Fisher said. Lately funding questions are most common. "It's hard to get loans" to compensate for dwindling profits, Fisher said.

However Fisher said there might be some relief in the future with new money available from the economic stimulus package. According to the national Small Business Administration, $730 million has been allotted to the SBA for lending and investment programs that help small businesses.

"The tax incentives and credit stimulus elements of the Recovery Act will truly help small business owners affected by the credit crunch and will provide financing opportunities to help them create new jobs in their communities," acting SBA Administrator Darryl K. Hairston said. Details on distribution will be revealed over the next few weeks.

In spite of these challenges though, some CSU alumni are experiencing what they call relative success.

Husband and wife team Danielle Gilbert Iglehart and Jay Iglehart, owners of Gilberto's Gourmet Goodness, LLC in Fort Collins, said they are doing quite well.

"It's amazing how much support Fort Collins gives to local businesses. Even though we don't want to grow too fast, providing our products for more customers than we anticipated is always a good problem to have," Danielle Gilbert Iglehart said.

Even so, the Ingleharts are not completely immune to the hardships of running a business these days.

"Our sales are steady. However it is more difficult to get the help of lenders than it ever has been, mostly due to the economy," Jay Inglehart said.

Supply costs fluctuating, as well, has lead to an increase in their own product costs. However both are confident that business will continue to grow and be successful.

Continued...

Page 1 of 2 next >

Article Tools