Issue link: https://nebusinessmedia.uberflip.com/i/992084
74 | DOING BUSINESS IN CONNECTICUT | 2018 2018 | DOING BUSINESS IN CONNECTICUT | 74 and expects to generate 200-plus advanced manufacturing jobs within five years; Wright Transportation LLC of North Franklin, which secured a loan to purchase 20 vehicles and increase its sales by 50 percent; and Counter Weight Brewing Company in Hamden, a family-owned business that is taking advantage of the growing craft beer trend. "We're here to help," said Carter. "We want Connecticut small businesses to thrive and succeed. It's critical to keep the entrepreneurial ecosystem intact in the state." Meanwhile, small businesses can also seek out assistance from Connecticut Innovations, based in Rocky Hill, and its subsidiary, CTNext. They provide pre-seed and seed funding to growing companies, as well as grants to stimulate bioscience innovation, support emerging technologies, and recruit interns from state colleges and universities. CTNext also helps small technology companies vie for more than $2.6 billion in federal research and development funding through the prestigious and competitive programs Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR). Both are dedicated to stimulating research and development. And then there are entrepreneurs helping each other; one example is Connecticut native Antwaine Debnam, who invented the hands- free carrier Tripletote. He tours the state to help others grow their product ideas. Offering talks free of charge, he promotes what he calls the "Four Ms": Make the product, Manage the process, Market the product, and Massively engage with your customers. "A lot of people are inspired to innovate," he acknowledges, "but many don't know what to do to make a product." Challenges ahead Of course, businesses – both big and small – face a panoply of challenges. For small businesses, one of the biggest of those is, and will continue to be, finding skilled workers, according to Gioia. There are 20,000 open jobs in the state that companies can't fill, he contended – as evidenced by a plethora of "Help Wanted" signs. "They're like mushrooms," he said. "They're all over the place." While larger companies aren't immune to this, they have the clout and resources to draw in out-of-state workers and provide higher pay, he noted. That leaves many small businesses concerned for the future, particularly considering that 2018 and 2019 are expected to be peak retirement years. "Companies are aware, they're concerned about it, but they don't have a solution," he said. Meanwhile, Gioia did note that small business confidence has "skyrocketed" since President Donald Trump was elected, but at the same time pointed to ongoing concerns about government intrusion and growing issues around tariffs – especially considering that 5,000 Connecticut businesses are involved in international trade. Carter, for her part, re-emphasized the importance of helping small businesses access reliable capital. In this growing digital age, she said, it's important to continue supporting local businesses and keep the proverbial and literal Main Street both thriving and relevant. "We don't want our downtowns to become vacant," she said. "It's crucial to think about local businesses when we think about purchasing power." Gary Wright, founder of North Franklin-based Wright Transportation, worked with CTSBDC advisor Matt Nemeth to get his new business rolling. Wright Transportation is now the state's most recommended non-emergency medical transportation (NEMT) provider in the area. [Photo courtesy of CTSBDC] SMALL BUSINESS