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Below is a letter from an experienced venture capitalist, Al Lorenz, who lives in the Lake Chelan area.  He is trying to form a Venture Capital Club in our region.  Access to capital is one of the key barriers to business creation and expansion.  Having a local venture capital group will help fill this gap and help us “grow our own” jobs within the region.  The key is getting 20 members to establish the club.  If you or someone you know is interested, please contact Al directly.

Greetings,

 I’ve been chatting with folks for awhile that we could do more to attract businesses to North Central Washington.  As you know, our quality of life can be a huge draw to attract companies to the area.  The easiest companies to attract to the area are startups, who aren’t as established in a given area. 

But, one of the things that is missing is that we don’t have an active community of angel investors to help support promising companies.  Since that is not something that government entities can, or should be, doing it needs to come from the private sector.

When I lived on the other side of the mountains, I was active in the Puget Sound Venture Club.  With the help of the founder of that club, I am working to see if I can get a group of interested investors to form an angel investment group in North Central Washington. If done correctly, a group like this can provide a tremendous boost to business development in the area.  Some of the other groups in the Seattle area include:  Alliance of Angels and the Zino Society.

I would need a minimum of 20 members to form a viable group.  The maximum is also limited to 35 members at this point.  I want to personally call and invite potential members to an organizational meeting in early December so we can start receiving pitches from startups early next year.  From this group I would like to ask for some names and phone numbers of potential members that I can invite.  I already have a list started, but if each of you could send me three to five names of good potential members, we could have an angel investment club in North Central Washington.

Here is a link to the beginning web site of the North Central Washington Venture Club: http://www.ncwventureclub.org/

Sponsorships also help defray the costs of running a club.  On the other side of the hills, banks, attorneys and financial firms are all common sponsors.  Please let me know your due dates for requests for funding and I will get a proposal into your organizations, if appropriate (chambers, port, GWATA) as well.  When chatting with folks at possible business sponsors, please feel free to put in a good word about potentially sponsoring this effort.  Also, please forward this to others you think should be aware of it.

Thank you for looking at this.  It could become a wonderful asset to our area.

NCW Venture Club

Al Lorenz
509-630-6769
877-822-3271 fax

Social Security: The Hot Potato No One Wants to Touch

By Don C. Brunell

President

Association of Washington

 As Congress continues to struggle with our nation’s massive $15 trillion debt, another looming crisis has slipped off the radar screen:  Social Security.

Social Security is running almost $50 billion in the red each year, deficits that are being covered by reserves in the General Fund. But because the number of people getting benefits is outpacing the number of people footing the bill, the program will be insolvent in 20 years.

 Social Security started in 1935 as a sort of widows and orphans fund. The boss and worker each paid a 1 percent tax on the first $3,000 of earnings. Today, the tax is 10.4 percent on the first $110,000 in earnings — and it’s still going broke.

 What’s the problem? 

Social Security worked back in the ’30s because Read More »

 It’s the Economy

By Don C. Brunell

President

Association of Washington Business

            In 1992, Bill Clinton’s campaign slogan was, “It’s the economy, stupid.” In 1993, Washington employers modified the slogan to, “It’s the economy, don’t kill it,” and emblazoned it across a huge banner draped from AWB’s building near the state’s Capitol Campus, where it could be seen by elected officials driving by.

            But lawmakers didn’t get the message 19 years ago; they left employers holding the bag for new taxes and fees as well as added costs for unemployment insurance and workers’ compensation. Hopefully, those lawmakers learned their lesson, because the higher cost of doing business in Washington hurt our state’s ability to create and maintain jobs.

            Fast-forward to 2012. 

            Polls show the bad economy is the primary concern of Read More »

Initiative 937 was passed by the voters in our state in 2006.  As it’s “green energy” requirements kick in (not including existing hydro), utility costs for Washington residents will increase.  It is easy to “be green” when it costs you nothing.  Now we will see how green people are willing to be as the bills start to come due.  The Legislature is expected to take up legislation to modify I -937 in the 2012 Legislative Session that opens next week.  Below is the Association of Washington Business’s take on the Initiative.

The Electric Chickens Have Come Home to Roost

By Don C. Brunell

President

Association of Washington Business

For years, energy experts warned us that regulations and policies that reduce the supply of affordable conventional energy would result in higher prices for American families. 

 Now it is clear the warnings were well-founded. The USA Today recently reported that electricity bills have skyrocketed.   

 The newspaper reports that American families paid, on average, a record $1,419 a year for electricity in 2010. Demand for electricity remains high even as Read More »

The Washington Education Association (WEA) called for a “Day of Action” rally in Olympia yesterday, the first day of the special session of the legislature.  Teachers and public school employees were urged to leave their classrooms to attend this rally and deliver a “budget cuts hurt kids” message to legislators.  A “Week of Action” was planned for the week prior to Thanksgiving (11/14), with teachers across the state wearing “These Cuts Hurt” buttons, and the WEA placing editorials and ads in newspapers across the state claiming that school budgets have been cut.

This spending boost includes Read More »