Wyospace.com

WBC employees Steve Achter and Terry Koerwitz to retire

The Wyoming Business Council announced the retirement of Steve Achter and Terry Koerwitz. The people Steve and Terry have worked with over the years are invited to send sotries and well wishes via the comment section on this post.

“We are very grateful to Steve and Terry for their many years of service to the state and to their community development efforts on behalf of the Wyoming Business Council,” said Bob Jensen, CEO of the Wyoming Business Council.

Steve Achter, who retires in March, has served as the director of the Investment Ready Communities Division since the creation of the Wyoming Business Council in 1998. During his tenure, the division has increased services available to Wyoming communities; developed two new programs - the Business Ready Communities Grant and Loan Program and the Community Facilities Grant and Loan Program; and invested over $136 million into community development in every county in Wyoming. Since 1979, he has served with every economic development predecessor state agency of the Wyoming Business Council.

Terry Koerwitz, who retires in March, has served as the Community Development Program Manger for the Community Development Block Grant Program at the Wyoming Business Council since 1998. During her tenure at the Business Council, this grant program has invested over $6 million into 32 Wyoming communities, helping them develop public infrastructure, increase access for the disabled and improve community facilities. She has worked in community development for the State of Wyoming for 32 years and every economic development predecessor state agency of the Wyoming Business Council.

What is your exit strategy?

By Mike Martin, Loan Portfolio Manager, Wyoming Business Council

Whether you are just starting a business or have been in business for many years, it is important to think of an exit strategy.  Will I be able to sell my business or will I have to close it down when I am ready to move on to other interests?

It seems that the only people who discuss an exit strategy in their business plan are serial entrepreneurs who want to grow a business and then sell it so they can start another one.  The owner of a family business needs to consider their exit as well.  Will the kids take over the business or can I sell it to one of my employees? 

Thinking of an exit strategy causes you to think of the future.  Planning ahead helps chart the course and writing and regularly updating a business plan is the most useful way to look to the future of your business. 

If the future of the business with you at the helm is only three more years, then you better be thinking of what will happen to the business at the end of that time.  What can you do now to ensure that there will be value to a potential purchaser of the business?  Should you upgrade equipment, grow your customer base, improve financial reporting systems, or groom family or key employees to take over the business.  Maximizing the value of your business will not only make the sales price higher when you are ready to move on, it makes you business more valuable now.

Even though you are as busy as you can imagine running the business, it is important to think of your exit.  After all, your financial future depends on it.

Do you know employers can get a discount on Workers’ Safety and Compensation rates if they have a drug-free workplace?

The process isn’t difficult; there are guidelines and assistance resources to take advantage of.

By Jill Kline, SBDC Regional Director

The program is a great opportunity for employers to reap cash savings as well as other benefits such as reduced absenteeism, theft, injuries, improved productivity and employee morale. 

Begin by viewing the “Annual Application for Certification of Drug-Free Workplace Premium Credit Program” available on the Wyoming Department of Employment website, http://wydoe.state.wy.us/doe.asp?ID=9. The application provides a checklist of exactly what a business must provide in order to become eligible for the discount. 

According to the Working Partners for an Alcohol and Drug-Free Workplace Program and OSHA’s Office of Occupational Medicine there are generally five components that make up an effective drug-free workplace program; a written drug-free workplace policy is the foundation. The U.S. Department of Labor (DOL) provides an online “Drug-Free Workplace Advisor” to guide businesses through the development of a policy tailored to meet their specific needs. The guide is available at: <http://www.dol.gov/elaws/drugfree.htm>. Other assistance can be found through private drug screening services, human resource specialists, legal counsel, the Department of Employment or the Small Business Development Centers.

After a policy is developed, the business should provide training to those individuals in supervisory positions. Those working closest to the employees need to understand the policy. They also need to know how to recognize and handle problems that may be related to alcohol or drug abuse and how to refer employees to available assistance. 
The third component of the program is to provide an ongoing employee education program that supplies company-specific information. Employees need to fully understand, cooperate with and benefit from the company’s drug-free workplace program.

An Employee Assistance Program (EAP) is the critical fourth program component. EAPs provide problem identification, assessment and referral services for employees. They are effective vehicles for addressing poor performance that may stem from an employee’s personal problems, including substance abuse. 

The fifth program component is drug testing. Before deciding to test, a business must consider who will be tested, which drugs will be tested for and when and how tests will be conducted. It is also important to be familiar with any state and federal laws (such as the Department of Transportation’s regulations for employees in safety-sensitive positions) that may impact when, where and how testing is performed. I recommended seeking legal counsel prior to implementing a testing program.