>> Zac: WISCONSIN SMALL
BUSINESSES ARE DOING WELL,
ACCORDING TO A NEW REPORT FROM
THE U-W SYSTEMS INSTITUTE OF
BUSINESS AND ENTREPRENEURSHIP.
THE STUDY SHOWS NEARLY 11,000
NEW ACCOMPLISHMENTS WERE OPENED
IN THE LAST YEAR.
ONE OF THE AREAS SEEING RAPID
GROWTH IS THE LaCROSSE REGION.
WE ARE JOINED BY ANN HLAVACKA.
THANKS FOR YOUR TIME TODAY.
>> Anne: YOU'RE WELCOME.
>> Zac: SO WHAT KIND OF GROWTH
ARE YOU SEEING IN WESTERN
WISCONSIN?
>> Anne: SO, I THINK WE ARE
SEEING KIND OF WHAT WE ARE
SEEING AROUND, GENERALLY.
THERE ARE, CERTAINLY,
INDIVIDUALS THAT I THINK WITH
THE PANDEMIC IT CAUSED THEM TO
KIND OF THINK ABOUT WHAT THEY
WANT TO BE DOING.
WE HAVE CERTAINLY HEARD THE
TERMINOLOGY OF THE SO-CALLED
GREAT RESIGNATION.
WHERE I THINK SOME INDIVIDUALS
IN THAT CIRCUMSTANCE ARE TRYING
TO DETERMINE IS NOW THE RIGHT
TIME TO BE MY OWN BOSS?
AND START A BUSINESS?
THERE ARE ALSO OPPORTUNITIES
THAT WE ARE SEEING COME UP
BECAUSE OF THE NATURAL
TRANSITIONS THAT WOULD HAVE
OCCURRED BUT MAYBE PEOPLE
REFLECTING AND MAKING THE
DECISION THAT NOW IS THE TIME TO
MAYBE SELL THEIR BUSINESS OR
OTHERWISE TRANSITION THEIR
BUSINESS.
SO, IT'S REALLY A COMBINATION OF
DIFFERENT FACTORS THAT I THINK
ARE COMING INTO PLAY.
>> Zac: AND MOST OF THESE ARE
SMALL BUSINESSES.
BAKERIES, AUTO SHOPS?
WHAT KIND OF THINGS ARE WE
SEEING HERE?
EVERYTHING?
>> Anne: I DO THINK IT'S A
LITTLE BIT OF EVERYTHING.
I THINK LIKE SMALL BUSINESS
DRIVES ALSO INNOVATION.
SO, I THINK YOU HAVE PEOPLE WHO
HAVE FOUND DIFFERENT WAYS TO DO
SOMETHING AND MAYBE IT'S A NEW
PRODUCT, A NEW SERVICE.
THOSE TYPE OF THINGS ARE ALSO
COMING INTO PLAY.
AND I THINK THAT ENDS UP BEING
HELPFUL.
>> Zac: WE SAW A LOT OF MONEY
INJECTED INTO THE ECONOMY
THROUGH THE DEMOCRATS COVID
RESPONSE PACKAGES.
BOTH IN INDIVIDUAL PAYMENTS TO
PEOPLE AND THROUGH GOVERNOR
EVERS' ABILITY TO HAND OUT
MONEY.
HOW MUCH IS GIVING PEOPLE THE
INITIATIVE TO START-UP SOMETHING
NEW?
>> Anne: WELL, I WILL SAY ONE
OF THE RECENT STEPS THAT WE'RE
TAKING IN THE STATE OF WISCONSIN
WAS A GRANT PROGRAM THAT
PROVIDED $10,000 FOR THOSE THAT
MOVED INTO VACANT COMMERCIAL
SPACES.
I THINK THAT HAS CANE OF -- HAS
KIND OF REGENERATED SPACES.
SO, THOSE TYPE OF PERHAPS, I
THINK, HAVE BEEN HELPFUL TO BE A
CATALYST TO TAKING THE STEP TO
GOING INTO BUSINESS.
AND STARTUPS, I THINK, HAVE
BENEFITED FROM THAT.
A LITTLE BIT MORE THAN SOME OF
THE OTHER FINANCIAL RELIEF THAT
HAS BEEN OUT THERE.
>> Zac: WE'RE ALSO, ON THE
OTHER HAND, SEEING AN INCREASE
IN INFLATION AND INTEREST RATES
ARE GOING UP.
CAN THAT PUT THE BRAKES ON SOME
OF THIS GROWTH?
>> Anne: I THINK THE ISSUE OF
INFLATION AND SOME OF THE
CHALLENGES, INTEREST RATES,
THOSE DO IMPACT HOW FAST
COMPANIES CAN GROW, WHAT LEVEL
OF DEPTH THEY CAN TAKE ON.
I THINK THOSE WILL BE FACTORS
THAT ARE GOING TO COME INTO
PLAY.
BUT I ALSO THINK THE PANDEMIC
HAS CAUGHT A NUMBER OF
BUSINESSES AND PEOPLE TO THINK A
LITTLE BIT DIFFERENTLY.
SO, I THINK THEY ARE EVALUATING
THEIR OPERATIONAL STEPS A LITTLE
BIT CLOSER TO DETERMINE WHERE
THEY SHOULD PUT THEIR EMPHASIS.
IT'S IMPACTING THINGS LIKE WHAT
OUR BUSINESS MAY BE OPEN.
HOW DO THEY CREATE THAT SYNERGY
WITH OTHER BUSINESSES SO TO
MAXIMIZE THE BENEFIT FOR ALL.
AND YET, AT THE SAME TIME, BE
ABLE TO CONTROL THEIR COST.
>> Zac: DO WE KNOW IF THESE ARE
MORE YOUNG PEOPLE TAKING THAT
FIRST CHANCE IN LIFE OR LATER
PEOPLE A LITTLE OLDER?
TRYING A NEW CAREER.
TRYING TO STRIKE OUT ON THEIR
OWN.
>> Anne: I WOULD HAVE TO SAY
IT'S A LITTLE BIT OF EVERYTHING.
WE SEE INDIVIDUALS.
I WOULD SAY SOME THAT ARE, THEY
MAY BE RETIRING A LITTLE BIT
EARLIER FROM THEIR TRADITIONAL
JOBS.
BUT THEY ARE NOT NECESSARILY
LOOKING INTO GOING INTO
RETIREMENT.
I WOULD SAY IN THE MIDDLE AREA,
THERE IS A LOT OF PEOPLE FEEL
LIKE THEY HAVE THE TECHNICAL
KNOW HOW AND HAVE BEEN THINKING
IN THE BACK OF THEIR MINDS I
WOULD LIKE TO DO THIS.
I WOULD LIKE TO BE THE OWNER.
AND SO I DO THINK THERE IS THAT
ELEMENT THAT IS OUT THERE PIP
THINK THOSE INDIVIDUALS WILL BE
POSITIONED POTENTIALLY FOR SOME
OF THE TRANSITIONAL AREAS.
FOR BUSINESSES THAT THE CURRENT
OWNERS WANT TO SELL.
AND THEY ARE IN A POSITION TO
POTENTIALLY BUY THOSE
BUSINESSES.
BUT I ALWAYS THINK YOUTH.
THAT IS WHERE A LOT OF OUR NEW
IDEAS COME FROM.
SO, I WOULD HAVE TO SAY WE SEE
IT ALL.
WE SERVICE SEVEN COUNTY REGIONS
IN WESTERN WISCONSIN.
AND WE ARE SEEING IT THROUGHOUT
THE REGION AND IN A VARIETY OF
AGE GROUPS.
>> Zac: IN THE LAST FEW SECONDS
WE HAVE WE ARE TALKING ABOUT
LOCATIONS IN WESTERN WISCONSIN.
ARE PEOPLE CHOOSING TO FIND A
PLACE AND START A BUSINESS AS
OPPOSED TO THE OLD MODEL OF
MOVING TO WHERE THE JOBS ARE?
>> Anne: I THINK IT'S, AGAIN, A
MIX.
THOSE BUSINESSES THAT GET
STARTED IN THE REGION ALSO
CREATE THAT NEXT JOB.
I THINK THAT THEN, SORT OF IN
ITSELF, KIND OF FUELS THAT NEXT
ROUND.
WHERE SOME DAY THOSE INDIVIDUALS
MIGHT CHOOSE TO CONTINUE WORKING
BUT SOME MIGHT CHOOSE TO START A
BUSINESS.
OR BUY A BUSINESS.
OR BUY THE BUSINESS THEY JOINED
AS AN EMPLOYEE.
SO, I WOULD SAY THE ONE AREA
HERE IN WESTERN WISCONSIN WE SEE
A LOT OF ACTIVITY IS, THERE IS A
LOT OF INTEREST IN TRYING TO
ENGAGE THE EMPLOYEE AS PART OF
KIND OF AN OWNERSHIP MODEL.
WE HAVE MORE INTEREST IN
EMPLOYEE-OWNED, COOPERATIVE-TYPE
BUSINESSES.
BECAUSE THEY REALLY DO WANT THE
PEOPLE THAT PARTICIPATE IN
GAINING THE BUSINESS OPPORTUNITY
TO ACTUALLY BENEFIT FROM IT AS
WELL.
WE OFTENTIMES SEE PEOPLE WANTING
TO SEE HOW TO DO THAT.
>> Zac: ALL RIGHT.
WE WILL HAVE TO LEAVE IT THERE.
ANNE FROM LaCROSSE, THANK YOU