Helping RI Families Save For Their Children’s College Education | SMALL BUSINESS
The consequences of making the wrong choices early on can be problematic to say the least. every major city across the nation. To varying degrees, most offer co-working space, storage, offices, workshops and networking. Some offer highly structured accelerator programs with funding for those who attain certain milestones. Remember, one size does not fit all. Look for space and a program that meets the needs of your particular venture. When looking for financial resources, you have fewer options. While it’s not likely a commercial bank will lend money for a startup, you never know. Money to buy equipment or other tangible assets is easier to secure than funding for operations or marketing. And, when sourcing for equipment and supplies, never buy if you can lease and never lease if you can borrow. Also, choose vendors and suppliers who will work with you. Ask for lines of credit and favorable payment terms. You never know until you ask. As your startup gains traction, you’ll need additional resources and assistance with HR, operations, marketing and more. There are many local firms, agencies and business consultants in the area. Go for the best and negotiate the most advantageous terms for your venture. Everything but quality is negotiable. Remember, just as there’s a risk-reward factor in starting a new venture, there’s a short-term – long-term strategy with partners, suppliers and vendors. Think long-term, choose the best and never compromise on quality, value or integrity. There’s too much at stake.
Helping RI Families Save for their Children’s College Education by Gina Raimondo
Rhode Island families are struggling, and so we are making it easier for them to save for their child’s college education. I know firsthand the importance of saving for higher education. I wouldn’t be where I am today if my parents hadn’t worked hard to save for my future. Earlier this month, I announced enhancements to the CollegeBoundbaby program that will help Rhode Island families save and pursue higher education opportunities for their children. The enhanced initiative was announced at the Community College of Rhode Island and featured an interactive forum with educational groups, researchers and policy makers from across Rhode Island and the country. Starting January 1, 2015, it will be easier than ever for Rhode Island families to take advantage of a $100 CollegeBoundbaby Grant that is offered through CollegeBoundfund, the state’s 529 plan. The initiative is in partnership with the Rhode Island Higher Education Assistance Authority (RIHEAA). Collegeboundbaby is an innovative program designed to significantly boost the number of Rhode Island families with college savings.
information to RIHEAA to award the CollegeBoundbaby Grant for their child. Rhode Island residents who adopt a child may self-enroll the child within the first year of adoption. The grant may be used at any higher education institution, whether it is a college of trade, technical, or vocational school. The $100 contribution will be invested by RIHEAA in a CollegeBoundfund master account on behalf of the child until the child is ready to attend a higher education institution. Investing in higher education is one of the best ways for Rhode Island to succeed in the future. A strong economy depends on a skilled workforce. People with a college degree are more likely to be employed than those without one, and are more likely to be employed in a job that provides quality of health and retirement benefits. This initiative makes Rhode Island one of only three states in the country to provide universal children’s savings accounts. This is a true example of how government agencies can work together to help Rhode Islanders. I look forward to continuing to improve higher education opportunities for Rhode Islanders. Gina Raimondo Rhode Island Governor
Through the newly enhanced CollegeBoundbaby program, parents of newborns check “yes” on their in-hospital Birth Certificate Worksheet to allow the Rhode Island Office of Vital Records to release the necessary contact
John Robitaille, Executive in Residence, Larry Friedman International Center for Entrepreneurship at Johnson & Wales University
www.risbj.com | volume four issue one
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