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November 2009

Northern Kentucky Business Journal

nkychamber.com

Going Green. Please ROUTE:



November 2009 Volume 29 Number 3

___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ Cincinnati/Northern Kentucky Region Has All the Right Pieces Page 3 Workplace Wellness: Wellness Programs for Small Companies Page 7

Chamber Hosts Health and Wellness Expo Page 17

INSIDE Chamber/NKU Partner on Marketing Research Survey..............................6 Education Week 2009 .....9 2009 Annual Dinner Photos......................... 10,11 Calendars .................14&15 Global Business Basics Seminars........................... 19 Economic Indicators......20 Sm. Bus. Seminars: Lead, Innovate Transform........21 NKY Report.................... 23

Leading Businesses. Chamber Launches Regional Free Enterprise Campaign There are signs that slowly but surely the U.S. economy is beginning to turn around. Many businesses and employees are adjusting to static budgets, flat (and sometimes lower) wages and longer hours. With the worst of the recession hopefully behind us, it is critical that Americans focus on the next new challenge – putting Americans back to work. Approximately 7.2 million jobs have been shed from our economy since the start of the recession and unemployment rates are at the highest level in more than 25 years. In fact, the Northern Kentucky unemployment rate is near 10 percent and Chamber members are looking for answers as to how to rebound and grow their businesses in the new environment.

The Northern Kentucky Chamber, in conjunction with chambers of commerce across the country are taking action in addressing this issue by participating in the U.S. Chamber of Commerce’s “American Free Enterprise: Dream Big” campaign. The U.S. Chamber of Commerce launched the initiative to stress the importance of the free enterprise system as the foundation of how entrepreneurial dreams are started. “Every day Chamber members talk about the issues that impact business. Issues like health care, energy, workers compensation and taxes,” said Gary Beatrice, chairman of the Northern Kentucky Chamber of Commerce and president of Business Benefits/Hammerlein Garner. “Our members not only have strong opinions about these

2010 Regional Economic Outlook Coming Tues., Nov. 17 The Cincinnati USA Partnership and the Northern Kentucky Chamber of Commerce are jointly presenting the Second Annual Regional Economic Outlook Tues. Nov. 17 at the Student Union Ballroom at Northern Kentucky University.

The Cincinnati USA Partnership is the economic development arm of the Cincinnati USA Regional Chamber. The event will include insights into the effect of the federal government’s economic bailout plan, as well as regional

Leading Communities.

Analysis of Metro Government at Government Forum What are the advantages and disadvantages of unifying city and county governments? Jerry Abramson presides over the Louisville Metro Government, which created in 2003 when the city and Jefferson County merged. Abramson feels a regional approach to local government reduces inefficiencies, cuts costs and can help communities’ weather economic storms. Mayor

Abramson is the featured speaker at Fri., Nov.6 Government Forum and to discuss the metro government. The merger saved city of Louisville and Jefferson County an estimated $3.6 million annually in operating costs alone, according to the city’s Web site. It also streamlined services, including dispatch operations, fire, police and EMS.

issues, but they want the nation to understand that business must play a vital strategic role. They recognize our nation was built on the principles of free enterprise and that these principles will lead our nation to economic recovery.” Through a national advertising campaign, grassroots advocacy, and a broad program of community outreach and public education, the goal of the campaign is to create the 20 million jobs needed in the next decade. This figure is the number of jobs lost in the current recession and meets the needs of America’s growing workforce. Locally, that means 180,630 jobs in Kentucky and 452,088 in Ohio in the next ten years. Tom Donahue, president

and CEO of the U.S. Chamber of commerce, launched “American Free Enterprise: Dream Big” last month outlined the effort online at www.realclearpoltics.com. “We’ll never claim that free enterprise is a perfect system. But while it has its faults, it is still the best system ever devised to generate opportunity, jobs, and economic growth. In fact, it has done more to improve the human condition than any other system ever devised. And with significant challenges ahead of us – including health care, energy and the environment – we must take advantage of its power to harness human talent. Nothing less than our economic competitiveness is at stake,” Donahue.

themes such as population growth and the state of the manufacturing industry. There will be a question and answer session with a panel of Cincinnati USA area’s foremost economists, including representatives from Northern Kentucky University, Xavier University, the University of Cincinnati and business leaders from the private sector. The 2010 Regional Economic Outlook is presented by Duke

Energy and the Kentucky Enquirer. The event is supported by City of Crestview Hills, Gateway Community & Technical College and PNC Bank. Admission is $25 for chamber members and $50 for future members. Pre-registration is required. Parking is available for $2 in the Kenton Garage. Registration starts at 7:15 a.m. and the program will begin at 7:45 a.m. Visit nkychamber.com to register or call (859) 578-6397.

Abramson was elected the first Mayor of Louisville Metro in November 2002 with nearly 74 percent of the vote. Citizens overwhelmingly elected him five times as Mayor of Louisville, earning him the nickname “Mayor for Life” and the distinction of being the longest serving mayor in the city’s 231 year history. The luncheon forum will be held at the Metropolitan Club, 50 E. RiverCenter Blvd., Covington, from 11:30 a.m. until 1:30 p.m. The cost to attend is $25 prepaid Chamber members or $30 future members. Reservations are required and can be made online at www.nkychamber.com or by calling (859)578.6397.

See Page 2

Jerry Abramson The Title sponsor of the 2009-2010 Government Forum series is Duke Energy. The monthly sponsors are St. Elizabeth Healthcare and Fidelity Investments.




November 2009

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Northern Kentucky Business Journal

Eric Haaser Eric Haaser, Branch Manager, PNC/National City at the Crescent Springs is being recognized as Volunteer of the Month. Eric has been chairing the Chamber’s Member Retention Committee since September 2007. Eric has guided the committee through economic challenges and with the help of seven dedicated committee members maintained the membership of 132 members and his work continues into 2010. “Chairing the Membership Retention Committee has been a great way to stay in contact with local small businesses. Working with the team of volunteers on this committee is fun and educational. I’m proud to work with such a hard-working and professional group and to serve the Northern Kentucky Chamber”, stated Haaser.

Chamber Launches Regional Free Enterprise Campaign Continued From Page 1

Eric Haaser

You can’t think outside of the box when it comes to advertising?

The Northern Kentucky Chamber will lead the regional dialogue about the essential role that free enterprise plays in strengthening our economy and the ways Northern Kentuckians have benefited from America’s free enterprise system. These stories will be used to enhance the Chamber’s advocacy and media efforts at If you have specific questions or areas of interest, please contact the appropriate staff member at: 300 Buttermilk Pike, Suite 330 P.O. Box 17416 Ft. Mitchell, KY 41017-0416 Phone: (859) 578-8800 Fax: (859) 578-8802 or e-mail us at the following addresses:

Your Chamber Staff Steve Stevens, CCE sstevens@nkychamber.com President

Call 859.578.6383

Northern Kentucky Chamber of Commerce 2009-2010 Chamber Officers

Gary Beatrice Chair of the Board Eric Haas Chair-Elect Robert D. Hudson Immediate Past-Chair H. Lytle Thomas Treasurer Kristi Nelson Secretary

Vice Chairs

Greg Greene Business & Community Advocacy Brent Cooper Business Development & International Trade Dave Hatter Community Leadership Development Barry “Chip” Wood Education Solutions Chris Goddard Health Initiatives Council Gary Bentle Member Services & Community Relations Dale Silver Networking & Special Projects Kelly Swartz Workforce Solutions

Board of Directors

Eva Ballard Mike Bull John Dubis Ralph Dusing Mark Exterkamp Brenda Gosney Daniel R. Groneck B. Stephen Harper Stacy Hege Tapke David Heidrich Dennis Hetzel Julie Hopkins Dr. G. Edward Hughes Kirk Kavanough Sandra Kemper Raymond Luk Paul Meier John Mok Barbara Moran Mark Palazzo Ken Rechtin Ken Roeding Donna Salyers Bill Scheyer Dale Silver Debbie Simpson Margaret Stallmeyer Christopher Sturm Paul Verst Dr. James C. Votruba Earl Walz Caroline Weltzer John Wharton Dennis Williams Wonda Winkler J. Robert Yost

Periodicals Postage Paid at Covington, KY ISSN (0274-757X)

Northern Kentucky Business Journal is published monthly by the Northern Kentucky Chamber of Commerce, Inc., 300 Buttermilk Pike, Suite 330 Ft. Mitchell, KY 41017. Annual subscription rate is $24. (Others: $50) All rights reserved. Periodicals Postage Paid U.S. P.S.-548630 at Covington, KY. Postmaster: Please send address changes to the Northern Kentucky Chamber of Commerce, 300 Buttermilk Pike, Suite 330 Ft. Mitchell, KY 41017-0416 or e-mail the Chamber at: info@nkychamber.com All rights reserved. Subscribers may use articles in their publications if source is cited. Publishers/Managing Editors Steve Stevens Mark Schenthal Sandy Guile Production Editor Mark Schenthal

Stephanie Beach sbeach@nkychamber.com Vice President, Administration Matt Davis mdavis@nkychamber.com Vice President, Business & Community Advocacy Jane Moore jmoore@nkychamber.com Coordinator, Business & Community Advocacy Jean Beck jbeck@nkychamber.com Manager, Budget & Finance Sheri Goodenough sherig@nkychamber.com Database Specialist Janice Cushman jcushman@nkychamber.com Senior Vice President, Member Services & Community Relations Judy Joyce jjoyce@nkychamber.com Manager, Member Services & Membership Involvement Mark Schenthal mschenthal@nkychamber.com Vice President, Marketing & Communications Sandy Guile sguile@nkychamber.com Manager, Communications & Media Relations Susan Houghton shoughton@nkychamber.com Director, Membership Development

the local and national level. “The small, medium and large businesses of Northern Kentucky and Cincinnati know better than anyone the importance of having the freedom to run their own business and are best equipped to educate legislators and the public about how government should assume a limited role and allow them to create jobs and grow the economy,” said Steve Stevens, president of the Northern Kentucky Chamber of Commerce. Visit www.nkychamber.com for information on how Northern Kentucky Chamber members can join the “American Free Enterprise: Dream Big” campaign. Linda Baier lbaier@nkychamber.com Account Executive, Member Services Ruth Eger reger@nkychamber.com Executive Director Northern Kentucky Leadership Foundation Joni Huffmyer jhuffmyer@nkychamber.com Assistant/RYL Program Director, Community Leadership Development Pam Allen pallen@nkychamber.com Vice President, Networking & Special Projects Sarah Klamo sklamo@nkychamber.com Manager, Networking & Special Projects Daniele Longo dlongo@nkychamber.com Vice President, Business Development & International Trade Kelly Jones kjones@nkychamber.com Coordinator, Business Development & International Trade Nancy Spivey, CCE nspivey@nkychamber.com Senior Vice-President, Workforce, Education Healthcare Solutions Amanda Dixon adixon@nkychamber.com Manager, Education Solutions Tara Sorrell Proctor tsorrell@nkychamber.com Coordinator Workforce, Education Healthcare Solutions Becky Warneford bwarneford@nkychamber.com Receptionist Bonnie Silva bsilva@nkychamber.com Receptionist Joe Jennings Staff Consultant


November 2009

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Northern Kentucky Business Journal

President’s Message Cincinnati/Northern Kentucky Region Has All the Right Pieces By Steve Stevens, CCE President

For the past several years, regional leaders have traveled Steve Stevens to other communities considered to be “cutting edge” and potentially holding the “secrets to success” we believed were needed to take our region to the next level. I have been among the delegations traveling to places like Boston, Charlotte and Minneapolis who looked for the magic information, but in some cases came to the same conclusion as others about the communities that we thought “had it going on”. That conclusion was that these communities often gave us a great impression of how well they were doing. However, once we saw them up close we discovered that they had as many or more issues and difficulties as our region is trying to overcome. This year’s Leadership Exchange was far different than any other we have undertaken. Instead of heading to a far off community, a group of more than 40 leaders decided we should take a deep dive within our own community. For two days we explored our own business climate. Experts and individuals who provided insights on specific subject areas came together to help us probe and think deeply about how to build capacity and create new action steps that will improve our community and grow business.

The Key Questions: Does the region have the right ingredients to allow us to be one of the top communities for business in the nation? Three CEO’s of significant companies in the region, each with years of experience living and working in multiple communities both domestically and abroad before being re-located here by their corporations, clearly stated “yes”. Among the factors they claim we have going for us and why their companies have chosen to be here were these: the region’s strong work ethic, a strong secondary education system, affordability in cost of living, a solid transportation system, the ability to access a talented workforce, a strategic location within the country, and an excellent quality of life (admittedly, this may be the factor most taken for granted by many of us who are natives). Another key factor that was identified by these corporate leaders is the presence of several Fortune 500 companies in the region who serve as magnets for other aspiring businesses.

2010 Washington D.C. Fly-In Only a Few Reservations Remain Join a special group of Chamber members and community leaders on March 3 & 4 2010 to Washington, D.C. as they carry Northern Kentucky’s messages on important regional project needs and legislative issues to Congress. Meet with Kentucky and regional congressional members to express your views on issues that are important to the region and participate in a reception at a foreign embassy on March 3. Hotel, airfare, transportation in Washington and meals are covered by the

low registration price $1,500 per attendee. Register online at www.nkychamber. com or by contacting Jane Moore at (859)578-6391 or jmoore@nkychamber. com. Sponsorship opportunities are also available for the Fly-In. Deadline for registration is Dec. 18. Once registered, become part of the Fly-in Committee and attend meetings to learn more about the trip and the legislative initiatives it will be promoting. Sign up now before it’s too late!

Why aren’t we there yet? Putting the current recession aside for the moment, according to Sandra Pianalto, president and chief executive officer of the Federal Reserve Bank of Cleveland - highly successful communities in her jurisdiction have focused heavily on two primary factors that have set them apart from the rest. The first is education and specifically, improving educational attainment levels. Since Ohio is ranked 38th and Kentucky 46th in the nation for the percentage of their populations who have attained a bachelor’s degree, there is a lot of room for improvement. The second factor she says has been their support and encouragement of innovation. Innovation spawns entrepreneurship and most importantly – grows new jobs. One way innovation can be increased is through greater cooperation among post-secondary educational institutions. Cooperation leverages the capabilities of each institution and can intensify the research capability of the region, ultimately leading to the production of more new patents and product development.

We know the road ahead will be full of challenges. “A typical recession lasts two quarters, but this one has lasted seven,” said Pianalto. “Recoveries on the other hand, typically last a little over a year.” Pianalto said she believes this recovery will last longer because it has been so long and deep. Nevertheless, having the “right ingredients” may make it easier for our community to rebound than many of our competitor communities. Quite possibly, we are our own biggest critics and just need some reinforcement – a boost to our confidence - that we do in fact have what it takes to rebuild ourselves and be the community that is built for business attraction and retention. In the current economic environment, this isn’t easy, but the launch of the Campaign for Free Enterprise and our organization’s support for it will help by telling the stories of entrepreneurial success here in the region. Your support for our work has never been more important so we can continue “Leading Businesses…Leading Communities”.

In cr eas e yyo our ssale ale ough ex dq uali fied Incr cre ase aless thr thro excclusi lusivve an and qu alified le ads b oinin gaB usine ef err al N et work lea byy jjoinin oining Busine usinesss R Ref eferr erral Net etw For more information contact Kelly Jones at kjones@nkychamber.com




November 2009

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David L. Denna 425 Walnut St., Suite 2500 Cincinnati, OH 45202

B to B Projects, LLC Lew Bonadies 3215 Nash Avenue Cincinnati, OH 45226 Beef ‘O’Brady’s Tom Drennen 1723 Monmouth Street Newport, KY 41071 bioLOGIC Margaret M. van Gilse 632 Russell Street Covington, KY 41011 Black Tie Productions Stephen Kidd P.O. Box 14527 Cincinnati, OH 45250 Boot Camp Digital Krista Neher 1324 Broadway St., Unit 3 Cincinnati, OH 45202 Buffalo Wild Wings Tammy Lowe 2004 Centennial Blvd. Independence, KY 41051 Buffalo Wild Wings Kurt Mouis 42 Martha Lane Collins Cold Spring, KY 41076 Buffalo Wild Wings Kathy Forbes 3441 Valley Plaza Parkway, Suite A Ft. Wright, KY 41017 Caring Transitions Jennifer Leas 1507 Whispering Pines Dr. Hebron, KY 41048 Cat Creatives LLC Valerie Macarie P.O. Box 76243 Highland Heights, KY 41076 Chick-fil-A Dustin Dichiara 4980 Houston Road Florence, KY 41042 Consumer Clarity Dennis Devlin 3940 Olympic Boulevard, Suite 400 Erlanger, KY 41018 Culver’s Craig Przanowski 8554 US Highway 42 Florence, KY 41042

Effective Office Environments, Inc. Jay Schuermann 2245 Gilbert Avenue, Suite 206 Cincinnati, OH 45206 Environ International Corp. Michael Dixon 228 Mill Street Milford, Ohio 45150 Famous Dave’s of America Pat Naughton 4931 Houston Road Florence, KY 41042 First Bank Gregory P. Noll 9395 Kenwood Rd, Suite 104 Cincinnati, OH 45242 Hermes Construction Co. Erik Hermes 1 Moock Road, Suite 201 Wilder, KY 41071 Imperial Builders Inc. Sherry A. Smith 800 Compton Road 37A Suite 104 Cincinnati, OH 45231 Lady Bug Photography Group, LLC Dawn Warner 33 Rio Vista Drive Ft. Thomas, KY 41075 Merrill Lynch, Pierce, Fenner & Smith Inc. David L. Denna 425 Walnut St., Suite 2500 Cincinnati, OH 45202 Mospens & Associates Kathy Mospens 333 Terry Lane Crescent Springs, KY 41017 Northwestern Mutual Dana Schneider 3805 Edwards Road, Suite 200 Cincinnati, OH 45209

Peak Performance Sports Therapy Andy Shetterly 541 Scenic Drive Park Hills, KY 41011 PG LifeLink Judith Kathman 167 Gap Way Erlanger, KY 41018 Pride Technologies Michael B. Krieger 10260 Alliance Rd, Ste 120 Cincinnati, OH 45242 Sacksteder’s Interiors Karen Sacksteder 4101 U. S. 52, Box 55 New Trenton, IN 47035 The Shutterbug Photobooth Co. Colleen Coppola 1481 Rolling Meadows Ct. Union, KY 41091 Something Old, Something New Josie Dewald 3395 Summitrun Drive Independence, KY 41051 State Farm Insurance Sue Klingel 2140 Declaration Drive Independence, KY 41051 Strayer University Sheila Malewska 7300 Turfway Road, Suite 250 Florence, KY 41042 Team Worldwide Bobbie Mattis 1348 Jamike Avenue Erlanger, KY 41018

Northern Kentucky Business Journal

Abrapower Inc.; Advanced Pain Treatment Center; American Commercial Realty Corp.; American Heart Association; American Lighthouse Transportation; Anneken, Huey & Moser PLLC; ARC Electric Air Conditioning & Heating, Inc.; Aristech Acrylics, LLC; Arnzen, Wentz, Molloy, Laber & Storm, P.S.C.; Background Bureau Inc.; Baeten’s Nursery & Greenhouses, Inc.; BDP International; Beechwood Board Of Education; BRIDGES for a Just Community; Burgess & Niple Inc.; C & C Mortgage, LLC; Caldwell Design Concepts; CARSTAR Collision Care of Newport; Catholic Health Initiatives; Cedar Ridge Apartments; Cetrulo & Mowery; Chapter Zero, Inc.; Chartwells Dining Services; Cincy; City Wide Maintenance of Cincinnati; Cold Spring Electrical Contractors, Inc.; Connective Computing Inc.; Convergys; Creation Museum / Answers in Genesis; Dan Beard Council, BSA; Delta Air Lines, Inc.; Delta Community Credit Union; The Dermatology Center; Diocesan Catholic Children’s Home; Diversified Asset Management; Document Destruction; Donatos Pizza; Dress For Success Cincinnati; Drug Enhancement Company of America, LLC; Eisen Management Group; Erpenbeck Consulting Engineers, Inc.; Exercise & Leisure; Farmers National Bank; Fastemp Glass Co.; City Of Florence; Global Business Solutions, Inc.; Graphic Information Systems Inc.; Greater Cincinnati Health Council; GSI Commerce Inc.; HBC-radiomatic, Inc.; Heritage Bank; The Hoffman Firm, PSC; Greta Hoffman, Attorney At Law, PLLC; Holly Hill Children’s Services; Homewood Suites by Hilton; K. Hovnanian Homes; Independence Fire District; Jaap-Orr; Keating, Muething & Klekamp, PLL; Kelly Services, Inc.; Ken/API Supply; Kent Refrigeration Company; Kenton County Attorney; KeyNote Equity Group, LLC; Kiswel Welding Products; L & N Federal Credit Union; La Posh Salon; LAN Solutions; LEAF International, Inc.; Lehigh Equipment Co., Inc.; LGI; Lucky Rabbit Studio; Lyons Magnus; Marsh USA Inc.; Massage Envy; Mauer USA, LLC; Mitel; Mospens & Associates, Inc.; Mountjoy & Bressler, LLP; Munninghoff, Lange & Co.; Newman & Tucker Insurance; Nickless Schirmer & Co., Inc.; Northwestern Mutual; H.C. Nutting Company, A Terracon Company; NuVo; OfficeMax; Our Catholic Store; P & R Auto Repair/Sales Inc.; Pendleton County Fiscal Court; Peter Paul Office Equipment, Inc.; Professional Sealants, Inc.; Promark Company/OI Partners; Radiology Associates Of No. Ky.; River Cities Capital Funds; Ronan Engineering; Rose Communications; Rumpke Of Kentucky; Salescore Inc.; Sara Lee Foods; Schulz & Sons Diamond Jewelers, Inc.; Securitas Security Services USA, Inc.; Senior Services Of Northern Kentucky; Silver Grove Independent Board Of Education; City of Silver Grove; Spirit Seminars & Consulting; Staffmark; Steinkamp Molding L.P. Mold & Tool; Sterling Health Plans; Stock Yards Bank & Trust Company; Strayer University; TiER1 Performance Solutions, LLC; Times-Mail, Commercial Division; Tractor Supply Co.; Transgroup Worldwide Logistics; Transitions, Inc.; Tumbleweed Southwest Grill; UPS Freight; Waddington North America; Waltz Business Solutions; Women’s Crisis Center; Women’s Health Care Of Northern Kentucky, PSC; Writing Enhancement Services, LLC.

SAVE THE DATE!

Tractor Supply Co. Brian Ocilka 7910 Alexandria Pike Alexandria, KY 41001 Valley View Corporate Condominiums Scott Schilling 561 Napa Valley Ln., Ste A Crestview Hills, KY 41017 WealthBridge Connect Shelli Stinson 2700 Old Rosebud Road, Suite 210 Lexington, KY 40509

NORTHERN KENTUCKY NIGHT IN FRANKFORT Gateway to the World Equestrian Games Wednesday, February 10, 2010 5:30 - 8:30 p.m. Frankfort Convention Center Frankfort, Kentucky

Watch for more details and don’t miss this event! Known as the best event during the General Assembly!


November 2009

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Northern Kentucky Business Journal

Northern Kentucky Forum Marks Its One Year Anniversary One thing you can be certain of at a Northern Kentucky Forum: If you are in the audience, you are part of the program. “We set out to design a sort of public square – a place where people can come and learn about issues and policy but also comment on them,’’ said Mark Neikirk, director of Northern Kentucky University’s Scripps Howard Center for Civic Engagement. The Center is a partner with LEGACY and Vision 2015 in producing and hosting the Forum, which launched a year ago. Since its first event on Oct. 22, 2008, the Forum has covered topics as wide-ranging as what’s next for the new president (the economy, first and foremost) to what the public policy should be with regard to teaching “creation science” in public schools. Then, in March, Gov. Steve Beshear was featured in an interactive town hall meeting, discussing health care, taxes, casinos and his ideas about wider use of nuclear power to address energy needs. In May, the Forum co-hosted a look at cities and innovation, and how Greater Cincinnati’s culture of risk-taking in business might be exported to civic life. That session was streamed on the Web and watched by 200

people around the country, some of whom text-messaged questions to the panel. “We’re trying to zero in on topics that are important but might not come up in the ordinary course of public dialogue at city council or fiscal court meetings,” Neikirk said. Typically, a Forum event also will include use of “clickers” – devices that look like a rudimentary calculator and function like a remote control. Using them, audience members can vote on questions posed at the Forum. The audience responses are displayed almost immediately on a screen and become part of the dialogue. Another feature of the Forums is variety of format. The evolution/creation science issues were presented in a mock trial, with two of Northern Kentucky’s leading trial lawyers representing opposing views. A Forum on health care this summer began with a one-hour play, “The Way Home” that presents a patient’s eye view of the current system and raised issues of cost, quality and access that a panel of local experts discussed with the audience. Another Forum that examined how we receive and analyze information in campaigns featured YouTube videos.

The Forum welcomes public involvement and suggestions of topics. Contact: The next Forum is on Nov. 12 at the Student Union ballroom at NKU, beginning at 7 p.m. Titled “How to make your voice heard in Frankfort,” it will open with remarks by Tony Sholar, a veteran lobbyist who will share his thoughts on how people trying to impact state spending and public policy can best do so. One consistent feature of the Forums is that they are free. The Forum steering committee examined other models in other cities for public policy/current event Forums. Many of those were members only models and charged attendees. The Forum steering committee, led by LEGACY’s Blair Schroeder, favored a more welcoming model that left as few barriers as possible to attendance. The three Forum partners – NKU’s Civic Engagement Center, LEGACY and Vision 2015 – are nonpartisan and have a deep interest in fostering an informed, civil discussion of public policy and current events. “Our Forums aren’t the place to come if you want to shout. They are the place to come if you want to listen and to be listened to,” Schroeder said.

Blair G. Schroeder Kentucky Government Relations Associate Cincinnati Children’s Hospital and Medical Center (859) 344-2282

Northern Kentucky Forum Key Principles • • • • •

Be a safe place for difficult conversations on public issues. Attract a diverse audience and aim always to include, not exclude Advocate for dialogue and for an informed public, but not for any one position Provide a format conducive to audience input Allow all sides of an issue to be represented in the discussion

How to Make Your Voice Heard in Frankfort Learn tips from experts and elected officials on how to be a better advocate! Thursday, Nov. 12th, 7:00pm at NKU Student Union Ballroom Questions? Contact Mark Neikirk at neikirkm1@nku.edu

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Showing you the way.

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centralbank.com




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How to Control Temporary Labor Costs in Tough Economic Times Many companies are turning to outside staffing firms to provide temporary and contract employees. Businesses find that the flexibility and specialized talent provided by temp staffing companies, often on very short notice, can be extremely helpful in managing their operations and achieving cost efficiencies. Because of the significance of labor costs, it’s important to manage temporary and contract labor to the advantage of the company. Understand your situation By understanding the characteristics of your temporary staffing needs, you can best market your company to the temporary staffing firms competing for your business – and negotiate the most attractive terms possible. To place your

company in a strong negotiating position and reduce overall temporary labor costs, be prepared to provide the following information: • Skill level of personnel required industrial, office/clerical, professional, IT, etc. • Specific job descriptions • Number of positions required • Seasonality • Overtime patterns • Workplace safety Understand the staff agency’s situation Optimize the benefits your company realizes by understanding the way the staffing company you chose operates financially. Temporary labor companies pay temporary employees’ wages. The

Northern Kentucky Business Journal

industry refers to the hourly cost of the employee wage as the “pay rate.” Temp agencies also pay employer taxes (social security and Medicare, for example) and insurance. Insurance costs include workers’ compensation, unemployment and any health, life and other insurance coverage provided. Staffing firms use a mark-up factor to establish the hourly cost they charge customers, known as “bill rate.” The mark-up covers the tax and insurance costs discussed above as well as the internal costs of recruitment, screening and placement activities and a profit for the staffing company. Costs vary, depending on the job description and company location. By analyzing the components of the costs incurred by the staffing agency, you can determine the profit factor built into the bill rate. Although a reasonable profit for a staffing firm is appropriate, your company won’t want to unknowingly provide excessive profits. Reduce overtime, conversion and turnover costs Of all the factors that can increase the cost of a company’s temporary staff services, overtime is the most significant. Although using overtime with your own employees is often a good business decision, overtime for temporary employees involves a cost structure that needs to be examined closely. If you

anticipate asking temporary employees to work overtime, be sure to discuss this possibility in advance with the agency to avoid unanticipated expenses. Many companies hire temporary employees with the intention of filling a full-time position. These “conversions” may results in a hefty fee payable to the temporary staffing firm if conversion practices and a temp agency’s policies to negotiate favorable terms accordingly. Just as your company incurs costs related to staff turnover, the same is true for temporary or contract labor turnover. The “hidden” costs of training and startup inefficiencies due to temp staffing turnover are not usually considered in an overall cost analysis. However, significant cost reductions are often possible by managing and monitoring this possibility. Knowledge is Power The more you understand about the costs associated with using temporary and contract labor, the more likely you are to find efficiencies and achieve cost savings. The competition within the temporary and contract staffing industry, coupled with knowledge of your internal situation, can result in significant savings and higher profits for your business. Article submitted by Colette Ridge at Expense Reduction Analysts.

Please watch for an e-mail by Thurs. Nov. 5 and take the time to complete this short survey. Your anonymous responses to the survey questions will be compiled by the market research students and a

presentation of their findings will be presented at the Chamber in early December. Contact Janice Cushman, senior vice president, Membership and Community Relations, (859) 578-6381 or email, jcushman@nkychamber.com

Chamber/NKU Partner on Market Research Survey The Chamber’s Marketing Committee tapped into a community resource, Northern Kentucky University in 2004 to help revitalized the Chamber brand. Now, five years later, the Chamber and NKU’s Market Research class under the leadership of Dr. Aron Levin is helping the Chamber by developing four surveys that will be e-mailed to member decision makers, member representatives, dropped members and businesses that have never been a member. The survey will be used to get a better understanding of

the Chamber’s image in the community including the reasons companies join, renew their memberships, participate, or their reasons not to be members. “The survey responses are an integral component in providing the Chamber with information about what our members and non- members think about the Chamber and the value of membership. This input will assist us in our 2010 marketing messages,” said Dana Skulan, Market Committee Chair, Freshwater Media Management.


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Northern Kentucky Business Journal

How to Get the Most Out of Your Health Plan Do you and your employees take advantage of all the benefits your health insurance has to offer? Many individuals sign-up for a health plan, then only use it when they get sick. Remember, the best health plans are designed to help people live healthier, and taking advantage of the programs and resources can lower longterm health costs. The open enrollment period for many companies is between October and December, so this is a perfect opportunity to educate employees on the untapped value in their health plans. The first step to maximizing the benefits in health insurance is getting to know the plan. A little research can reveal a great deal of useful information. For example, many insurers offer wellness resources such as personalized health coaching and smoking cessation programs. Insurance web sites include everything from cost comparison tools for prescriptions to healthy recipes. And 24-hour nurse lines can direct employees to urgent cares or emergency rooms and help individuals find immunization information. To help employees prepare for the future, businesses may want to research spending accounts – such as Flexible

Spending Accounts (FSAs) or Health Savings Accounts (HSAs) – or look for health plans that include guidance for expecting parents or counseling through Employee Assistance programs. A survey by the International Foundation of Employee Benefit Plans found that 84 percent of employers are also extending voluntary benefits to their employees. These benefits – most commonly vision, life, disability and critical illness – allow individuals to select the benefits they want to pay for themselves. With voluntary benefits, there are more benefit options, but no additional cost to the company. As you select your plan and help employees navigate their benefits, remember that insurance should have two goals – 1) to get and keep individuals healthy and 2) to help them avoid catastrophic financial risk. For more information about the health plans available with the Chamber’s health benefits partner, Humana, please talk to your health benefits broker. If you don’t have a health benefits broker, call the Chamber at (859) 578-8800 for a complete list of Chamber member brokers participating in the health benefits program. Article submitted by Renita Scales of Humana.

Workplace Wellness:

Wellness Programs for Smaller Companies Many companies simply do not have the resources to create a large, complex wellness program. In fact, many groups even struggle to provide health insurance for their employees. Yet, these organizations can help the health of their employees and therefore, reduce healthcare-related costs. Here are some other advantages of wellness programs: • They improve company morale and establish the company as a staple in the community. • They create new opportunities for business partnerships with other organizations. • They serve as a useful retention and attraction tool for new and existing employees. Though your organization may not be able to fund a high-level wellness program, you can do some low- or even no-cost things to improve the health and wellness of your employees. Try some of these suggestions on for size: • Contact a local hospital, non-profit organization or other healthcare provider to come and provide presentations on living healthy lifestyles. • Partner with a local free clinic or

public health department to have Health Risk Appraisals (HRAs) administered at your worksite for little or no cost. • Create a wellness committee consisting of various employees. Have them create activities that can be done at the worksite to improve employee health, such as healthy eating days. • Make your workplace smoke-free. • Ask a local healthcare provider to give free immunizations. • Provide healthy vending machine choices. • Provide physical activity breaks during the day for your employees and encourage them to go outside for a quick run or walk. • Offer incentives for employees to use the stairs instead of the elevator. Article submitted by Jack Graham, Senior Advisor and the insurance specialists at Stautberg Benefit Advisors.




nkychamber.com

Regional Youth Leadership Class of 2010 Takes on Camp Joy

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November 2009

Northern Kentucky Business Journal


November 2009

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Northern Kentucky Business Journal

Get Involved with Northern Kentucky Education Week 2009

Northern Kentucky Education Week, a celebration organized by the Northern Kentucky Council of Partners November 16-20, will offer a variety of opportunities for educators, students, community members and business leaders across our region. The Northern Kentucky Chamber is proud to support the events taking place and be a partner in two of the many events designed to educate and engage our community on topics critical to student success and a strong future workforce in Northern Kentucky.

Northern Kentucky Education Week 2009: The KY Girls STEM Collaborative-NKY Forum - Nov. 10, 4:30-6:30 p.m. at General Cable, 4 Tesseneer Drive, Highland Hts., KY Co-Presented by Northern Kentucky Chamber of Commerce To register visit www.nkychamber.com Advocacy Forum: Learn How to Talk with Your Legislators Nov. 12, 7-9 p.m. NKU Student Union Citi “I Know I Can” College Reading Blitz- 2nd grade classrooms Nov. 16-Nov 20 *Opportunity for B.E.S.T. Partnership Companies Contact: Lucy Riffle at lriffle@insightbb.com NKY Success by Six Early Childhood Best Practice - Nov.16, 1-5 p.m. Boone County Public Library, Burlington Branch “Do You Know?” Do you know exactly the level of funding needed by the Northern Kentucky P-16 (pre-school through post-secondary) school community in order to provide a 21st Century education to our students? An information blitz will be sent to educators, parents and community stakeholders so everyone will be prepared to advocate for our children in Northern Kentucky. Kentucky Enquirer Educator Recognition Dinner Nov. 17, 5:30 - 8 p.m. Receptions Banquet Center, Erlanger Keynote Speaker- Dr. Terry Holliday, Commissioner of Education Northern Kentucky Council of Partners Meeting Nov. 19, Noon -2 p.m. Thomas More College

business. we’re all about

Big or small, your business is our business! The Chamber Office Park IS the central business address for Northern Kentucky! The office park is a community of successful businesses with tenants ranging in size from 700 to 15,000 sq. ft. Here you will find a wide array of professional offices — legal, financial, educational, medical, IT, new and old media, real estate and many more. Doesn’t

your business deserve a well-known address? The Chamber Office Park provides: •

Easy access to I-75/71, I-275, Airport, Downtown & all of Northern Kentucky

Single & Multi-Tenant Office Buildings with ample parking

Professional Design Team to assist with your office design/layout

24/7 Professional Management including full-time maintenance personnel

For availability, contact

Zalla Companies (859) 341-5523

at

www.zallacompanies.com

I-75 @ Buttermilk Pike • Ft. Mitchell, KY


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November 2009

2009 Annual Dinner - A Ruby Red Celebration of 40 Years

Northern Kentucky Business Journal


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November 2009

Northern Kentucky Business Journal

Northern Kentucky University prepares students for a lifetime of success without a lifetime of debt. As one of Greater Cincinnati’s fastest growing universities, Northern remains the best educational value in the region. At Northern Kentucky University, quality truly is made affordable.


November 2009

Northern Kentucky Business Journal

November 2009 Volume 29nkychamber.com Number 3

Special Performance of Holiday Favorite Benefits Regional Youth Leadership The power of believing can transform a drab December day into a truly magical moment for a young child, just as it can transport a teen from being a gangly kid to a confident young adult. On Dec. 22, that power will work to do both as the curtain opens on a special presentation of “Miracle on 34th Street” that will benefit Regional Youth Leadership. “This is a great chance to enjoy a holiday tradition with family and support the community at the same time,” said Joni Huffmyer, program director of Regional Youth Leadership. “It’s a chance to look back at the wonder of our youth while helping a new generation discover its own wonder…the thrill of finding its voice and using it to make a positive difference in our region.” Covedale Center for the Performing Arts will host the presentation, with all proceeds benefiting Regional Youth Leadership. The program works to enrich and engage outstanding Greater Cincinnati high school juniors who demonstrate leadership potential and a commitment to community service. Over the past 15 years, more than 500 students from 61 different schools on both sides of the Ohio River have graduated from the program. Tickets prices are $18 if purchased before Nov. 1 and $20 if purchased after Nov. 1. A $40 VIP ticket includes a premium seat, a reception before the 7:30 p.m. performance, and an opportunity to meet the cast. Fifty percent of the ticket price is tax-deductible. The theater is located at 4990 Glenway Ave., Cincinnati. To order tickets, visit www.nkychamber.com and go to the Events page, call 859-578-6398, or e-mail Joni Huffmyer at jhuffmyer@nkychamber.com. Turner Construction Company is the presenting sponsor of “Miracle on 34th Street.” About Regional Youth Leadership Regional Youth Leadership is a non-profit program for outstanding Northern Kentucky/Greater Cincinnati area high school juniors who demonstrate leadership potential and a strong commitment to community service. The program is designed to motivate and empower youth to make a positive difference in our communities. Our vision is to inspire and develop youth to a life dedicated to effective and compassionate leadership, selfless volunteerism and responsible citizenship. Students are not charged tuition to participate. The goodwill of corporations, foundations, and individuals assist us in sustaining this program. RYL sessions are planned and administered by approximately 25 volunteers, along with one paid, part-time staff member.

2010 Regional Economic Outlook

DATE & TIME:

Tuesday, November 17, 2009 7:15 a.m. Registration & Breakfast 7:45–9:00 a.m. Keynote Address & Panel Discussion LOCATION:

Northern Kentucky University Student Union Ballroom Northern Kentucky University Nunn Drive, Highland Heights, KY 41099 [Parking available in the Kenton Co. Garage]

COST:

$25 for members; $50 for future members REGISTER:

Cincinnati USA Regional Chamber members: cincinnatichamber.com or 513.579.3111 Northern Kentucky Chamber of Commerce members: nkychamber.com or 859.578.6397 Pre-registration required; deadline Friday, November 13. PRESENTED BY:

SPONSORED BY:

SUPPORTED BY:

Thank you to Northern Kentucky University for hosting this event. ©2009 Cincinnati USA Regional Chamber 10.09 | PDF | SS

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November Calendar of Events Tech Fridays 101

Tues., Nov. 3 3:00 - 5:00 p.m.

Windows 7 Launch

Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Presented by: Supported by: LAN Solutions Cost: Free for Chamber Members, $25 Future Members

Chamber University

Wed., Nov. 4 8:00 a.m. - Noon

Natural Selling Concepts

Drawbridge Inn Hotel 2477 Royal Drive Ft. Mitchell, KY

Featured Speaker: Jim Kill, VP of Marketing for Stellar Sales Training

Thurs, Nov. 5 8:00 a.m. - 9:30 a.m.

Water Cooler Talk New Communication Rules for New Marketing Tools Presented by: Featured Speaker: Kevin Dugan, Empower MediaMarketing Cost: $15 Chamber Members, $25 Future Members

Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

How to Market Your Business and Yourself Through the Chamber

Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Cost: Free to Chamber Members

Thurs, Nov. 12 8:00 a.m. - 10:00 a.m.

HR Group 100 Recruiting and Social Media

Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Presented by: Cost: Free to Chamber Members, $10 Future Members

Tues., Nov. 13 8:00 - 9:30 a.m.

Thurs, Nov. 5 5:00 p.m. - 7:00 p.m.

Red Light, Green Light, GO! Presented by: Custom Wine Online

Supported by:

Cost: $10 Chamber Members, $20 Future Members

P&P Real Estate

Daymar College 119 Fairfield Ave. Bellevue, KY

Fri., Nov. 6 8:00 - 10:00 a.m.

Small Business Cash Flow Options for Small Businesses Cost: Free to Chamber Members, $25 Future Members

Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Government Forum

Fri., Nov. 6 11:30 a.m. - 1:30 p.m.

An Analysis of Metro Government

Metropolitan Club 50 E. RiverCenter Blvd. Covington, KY

Presented by:

Featured Speaker: Jerry Abramson, Mayor of Louisville

Save Money on Import Duties - ATA Carnets Presented by:

Tues., Nov. 10 3:00- 5:00 p.m. Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Cost: $15 Chamber Members, $25 Future Members

Kentucky Girls STEM Collaborative A Northern Kentucky Forum for Educators, Parents and Business Leaders

Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Fri., Nov. 13 8:30 - 11:30 a.m.

How to Grow Profits in a Challenging Economy Cost: $89 Chamber Members, $124 Future Members

Eggs ‘N Issues 2010 Regional Economic Outlook produced by Cincinnati USA Economic Partnership & Northern Kentucky Chamber of Commerce Supported by: Presented by:

Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Tues., Nov. 17 7:15 - 9:00 a.m. Northern Kentucky University Nunn Drive Student Union Ballroom Highland Heights, KY

Cost: $25 Chamber Members; $50 Future Members

Small Business Seminars Lead, Innovate, Transform

Understand Your Leadership Style and Create a Culture of Innovation Presented by:

Wed., Nov. 18 11:00 a.m. - 5:00 p.m. Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Cost: $25 Chamber Members, $45 Future Members, Free for BRN & Executive Roundtable members

Cost: $25 Chamber Members, $35 Future Members

NKITA Trade Education Seminars

The Business Value of Social Media for Brands Presented by: Supported by: LAN Solutions Cost: $15 Chamber Members, $25 Future Members

Chamber University

Business After Hours

Presented by: Cost: Free

Wed., Nov. 11 3:30 - 5:00 pm.

Market Your Business

Tech Fridays

Cost: $99 per person

Title Sponsor:

Northern Kentucky Business Journal

Tues., Nov. 10 4:30 - 6:30 p.m. General Cable 4 Tesseneer Drive Highland Heights, KY

AMA-Sig Intergenerational Marketing Cost:Free

A Chance to Meet LaRosa’s Inc. Nancy Wilson Cost: $15 Chamber Members, $25 Future Members

SCORE Seminars at the Chamber Website Fundamentals Presented by: Cost: $30 Chamber Members, $40 Future Members

Fri., Nov. 20 7:45 a.m. - 9:00 a.m. Transfreight 4123 Olympic Blvd. Erlanger, KY

Fri., Nov. 20 8:00 a.m. - 9:15 a.m. Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Tues., Nov. 24 8:30 a.m. - 12:30 p.m. Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY


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Northern Kentucky Business Journal

Government Forum

December Calendar of Events Tues., Dec. 1 5:00 - 7:00 p.m.

Business After Hours A Fabulous Business After Hours

Fabulous-Furs 20 W. 11th St. Covington, KY

Cost: $5 Chamber Members, $10 Future Members

Wed., Dec. 2 3:30 - 5:00 p.m.

Getting the Most Getting the Most From Your Chamber Membership Presented by: Parsons & Associates, Cincinnati Bell & NOR-COM Cost: Free. Reservations are required

Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Thurs., Dec. 3 8:00 - 9:30 a.m.

Water Cooler Talk How to Topple a Marketing Goliath Presented by: Featured Speaker: Matthew Fenton Cost: $15 Chamber Members, $30 Future Members

Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Workplace Wellness Practitioners Group How to Keep Costs Down Cost: Free for Chamber Members

Accessing KY Training Dollars Accessing Kentucky Training Dollars Cost: Free for Chamber Members

Chamber University Leasing 101 Cost: $15 Chamber Members, $30 Future Members

Eggs ‘N Issues TBA

Thurs., Dec. 3 8:00 - 9:00 a.m.

Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Thurs., Dec. 3 8:00 - 9:00 a.m. Wallace Boggs300 Buttermilk Pike Ft. Mitchell, K

Thurs., Dec. 3 11:30 a.m. - 1:00 p.m. Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Tues., Dec. 8 7:15 - 8:45 a.m.

Cost: $15 Chamber Members, $30 Future Members

Receptions, Inc. 1379 Donaldson Rd Erlanger, KY

Health & Wellness Expo

Thur., Dec. 10 8:00 - 10:00 a.m.

Expo Booths: $100 members, $150 future members Cost: Free to attend

Receptions, Inc. 1379 Donaldson Rd Erlanger, KY

Look at Upcoming Legislative Session Title Sponsors:

Featured Speaker: Senator David Williams

Fri., Dec. 11 11:30 a.m. - 1:30 p.m. Metropolitan Club 50 E. RiverCenter Blvd. Covington, KY

Cost: $25 Chamber Members, $35 Future Members

Tech Fridays I’m LinkedIn! Now What? Presented by: Supported by: LAN Solutions Cost: $15 Chamber Members, $25 Future Members

NKITA Trade Education Series Prepare Your Company for New Tax Code Presented by:

Fri., Dec. 11 8:00 - 9:30 a.m. Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Tues., Dec. 8 3:00 - 5:00 p.m. Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Cost: $15 Chamber Members, $30 Future Members

SCORE Seminars at the Chamber Hands on Management for Difficult Times Presented by: Cost: $30 Chamber Members, $40 Future Members

Selling For Results Four Strategies for Transforming Sales Featured Speaker: Pam Beigh Cost: $150 Chamber Members, $200 Future Members

A Chance to Meet Hill-Rom Presented by: Cost: $15 Chamber Members, $25 Future Members

Miracle on 34th Street Benefiting Regional Youth Leadership Sponsors: Cost: $40 VIP Tickets, $20 General Admission

Register for any of these events online at the Northern Kentucky Chamber website www.nkychamber.com

Tues., Dec. 15 8:30 a.m. - 12:30 p.m. Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Wed., Dec. 16 8:30 a.m. - 12:00 p.m. Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Fri., Dec. 18 8:00 a.m. - 9:15 a.m. Northern Kentucky Chamber 300 Buttermilk Pike Ft. Mitchell, KY

Tues., Dec. 22 7:30 - 10:00 p.m. Covedale Center for the Performing Arts 4990 Glenway Avenue Cincinnati, OH


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Congratulations To ...

A new General Nutrition Center opened recently in the Union Village Center on Hwy 42 in Union. GNC strives to be the leading provider of products, information, and service in the self-care and personal health enhancement market. Taking part in the ribbon cutting is (L-R) Laquinta Strickland, L & N Credit Union, Jeremy Arrasmith, Crawford Ins., Gregory Hilycord, franchisee, and GNC, Jane Hilycord, franchisee, GNC, JR Schneider, Allied Financial Solutions, and Dana Schneider, Northwestern Mutual.

Northern Kentucky Business Journal

Eggs ‘N Issues attendees...

First time attendees and sponsors are pictured from October’s Eggs ‘N Issues program held at Receptions in Erlanger. Sitting (L-R): Charlotte Boemker, Faith Community Pharmacy; Michelle Reilly, VonLehman & Company; Lori Simpson, Northern Kentucky Water District; Heather Russell, Indiana Wesleyan University; Ruth Gabbard, Beckfield College; Carrie McCoy, Northern Kentucky University; Sonia Jackson, State Farm. Standing (L-R): Debbie Maggard, Enquirer Media (Sponsor); Greg Buchanan, PNC Bank; Bob Yoxthimer, Camp Dresser & McKee (Sponsor); Jody Detzel, LUCRUM; Daniel Hockersmith, America’s Finest Filters; Carolyn Busford, Pulmonary Partners; Julie Ossege, Northern Kentucky University. (photo courtesy of Joe Ruh Photography)

Quarterly Thank You to Board Sponsors

The Women’s Crisis Center showed off their new administrative office building, built by the Paul Hemmer Co, and funded by The .Carol Ann & Ralph V. Haile, Jr./U.S. Bank Foundation Regional Services Center. The Women’s Crisis Center has grown from a grass roots organization into having over 80 skilled employees and 150 volunteers servicing Boone, Campbell, Kenton County and surrounding areas. Taking part in the ribbon cutting is(L-R) Marci Catanzaro, Airmazing Balloons, Laura Kinney, Caroline Goering, Chris Bockenek, Angie Johnson, Humana, and Dee Begley, Exit Realty.

Oct. Board Meeting

Nov. Board Meeting

Sept. Joint Meeting

Sept. Joint Meeting Oct. and Nov. Board Meeting

A Chance to Meet LaRosa’s, Inc. Farmers National Bank opened their fifth office at 7953 Alexandria Pike, Alexandria with a ribbon cutting. FNB provids expert customer service and works with them in providing solutions to all their financial needs. L- R: Ryan Pitts, Waddell & Reed, Charles Deters, Principal Shareholder, Senator Katie Stine, Honorable Steve Pendrey, Alexandria Mayor Daniel McGinley, Mark Aulick, President, Farmers National Bank, Branch Manager Justin Augsback, David Landwehr, B to B, Shelley Mueller, Insight, Gary Beatrice, Business Benefits and Chair of the Board, Lori Giberson, tw telecom, Steve Stevens, President, N KY Chamber, JR Schneider, Allied Financial Solutions.

Northern Kentucky Chamber of Commerce November 20, 2009 8:00-9:15a.m. Speaker: Nancy Wilson, Director of Purchasing at LaRosa’s, Inc. Register today at www.NKYChamber.com $15 Chamber Members and Partners, $25 Future Members


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Northern Kentucky Business Journal

Murder: A Case Study

LEGACYis hosting a unique event titled, Murder: A Case Study featuring local CSI Detectives, Brian Cochran and Tim Carnahan. Detectives Cochran and Carnahan will provide an in-depth report on the murder of Patricia Volpenhein and how the CSI Crime Detectives used forensic sciences to catch and convict John Snow. According to Detective Brian Cochran, “ This was the second murder that John Snow was convicted of. He committed it only three months after he was released from prison and Patricia was executed in the same manner as his first victim.” Discover how the physical and investigative evidence related to the prosecution’s case. Questions are definitely encouraged! This Case Study has been taught nationally by the prosecutor and the unit that Detectives Carnahan and Cochran serve in, at Homicide Conferences and at the National Forensics Academy in Tennessee. The event is Fri., Nov. 13, 2009 11:30 a.m.-1p.m. at the Boone County Sheriff’s office, 3000 Conrad Lane in Burlington. There will be time for networking and a pizza lunch will be served. It is free for LEGACY members and $20 for non-Legacy Members. LEGACY is designed for young professionals aged 21-40. For more information, visit www.legacyleadership.org. Article submitted by Laura Flowers, Co-Chair of LEGACY’s Marketing Committee.

Chamber Hosts Health and Wellness Expo

NOVEMBER CALENDAR OF EVENTS ACUE LUNCH BUDDY PROGRAM 11:40

A.M.

FRI., NOV. 6 - 12:25 P.M.

Spend your lunch hour making a difference in the life of a child! Eat St. Augustine Elementary lunch with 4th and 5th graders and then join them for games & 1840 Jefferson Ave. activities during recess. Covington, KY COST: $1.50 for lunch

NKY FORUM HOW TO MAKE YOUR VOICE HEARD IN FRANKFORT COST: FREE, open to the general public

THURS., NOV. 12 7:00 - 8:30 P.M. NKU Campus Student Union Ballroom Highland Heights, KY

MURDER: A CASE STUDY

FRI., NOV. 13 11:30 A.M. - 1:00 P.M.

FEATURED SPEAKERS: CSI Detectives Tim Carnahan & Brian Cochran

Boone County Sheriff 3000 Conrad Lane Burlington, KY

COST: FREE LEGACY Members; $15 Future Members (lunch included)

NETWORKING HAPPY HOUR Enjoy a laid back atmosphere as you network with peers and enjoy complimentary appetizers and happy hour drink prices. COST: FREE LEGACY Members; $10 Future Members

TUES., NOV. 17 5:30 - 7:30 P.M. Claddagh Irish Pub One Levee Way, Ste. 2122 Newport, KY

LEGACY is for YPs, ages 21-40. Please visit: legacyleadership.org for more info.

www.nkychamber.com

The 1st Annual Health and Wellness Expo is Thurs., Dec. 10 from 8-10 a.m. at Receptions Banquet and Conference Center in Erlanger. This event features healthrelated employers and service providers offering product samples, demonstrations, and other information. St. Elizabeth Health Care will provide complimentary screenings including blood pressure and BMI. The Expo will also feature fitness tips as well as door prizes. The Expo is free and open to anyone who would like to attend. Booths may be purchased by Chamber Members for $100; the cost is $150 for non-members. Continental breakfast will be provided for all. Purchase booth space or read more about the event at www.nkychamber.com. For further questions, contact Tara Sorrell Proctor at (859)578-6399 or tsorrell@nkychamber.com.


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Northern Kentucky Business Journal

Congratulations To ...

Black Tie Productions, Inc. is a one-stop-shop for your publishing, printing and mailing celebrated their grand opening with a ribbon cutting. (L-R) Linda Maston, National College; Dave Hatter, Libertas Technologies, LLC; Stephen Kidd, Black Tie Productions, Inc.; Bob Berendsen, GetOneFree.com; Joni Nevitt, Heritage Bank.

Culvers’ opened their 407th location on US 42 in Florence with a ribbon cutting. Known since 1984 for their ButterBurger®, along with a selection of sandwiches, garden fresh salads, and dinner entrees to satisfy the heartiest appetites. (L-R front row) Dee Begley, Exit Realty; John Curtin, Paul Hemmer Companies; Craig Culvers, President; Craig and Lisa Przanowski (franchise owner) and daughters; Mayor Diane Whalen, City of Florence; Daniele Battaglia, The Tom James Co.; Nancy Toole, Blue Chip Mailing Services.

Faith Community Pharmacy invites everyone to join us at our annual gala dinner event, Celebrate!, scheduled for November 14th, 2009, from 6 PM to 11 PM at The Marquise, in Wilder, KY. Cost is $50 each, which includes dinner, drinks, and entertainment consisting of charitable gaming, silent and live auctions, and more! For reservations or more information contact us at 859-426-7837 or www. faithcommunitypharmacy.com. All proceeds benefit Faith Community Pharmacy, a 501(c)(3) nonprofit whose Mission is to provide prescription medications free of charge to those unable to pay,without regard to race, creed, or national origin, throughout Northern Kentucky.

Sacksteder’s Interiors opened their 2nd location at 7747 Kenwood Rd, across from Nordstrom’s. Karen specializes in interior design, featuring a variety of furniture, artwork, accessories, custom florals, lighting and holiday décor! She also has a large showroom in New Trenton, IN. (L-R) Amy Scalia, Cincy Chic; Lori Giberson, tw telecom; Jon Engelhard, KeyBank; Karen Sacksteder, Owner; Mary Falls-Becker, Stock Yards Bank & Trust Company; Bryan Jacobs, Connective Computing; and Carol Buckley, Comey Shepherd Realtors. El Rio Grande restaurant serving a Mexican cuisine opened its second location in Florence on Houston Road. Many have enjoyed their delicious food at their Newport location. (L-R) Kim Bradley, Arrasmith Promotions; Amy Beck, First Security Trust Bank; Holly Ruschman, Roeding Group; Laquinta Strickland, L & N Credit Union; Marie Weiter, ReMax Affiliates; Juan Hernandez, manager; Octavio Correa, owner; Brian Ruschman, CForward and Kevin Beasley, Systems Insight.


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Northern Kentucky Business Journal

Global Business Basics Seminar

presents many unique challenges. Some of these challenges include: securing partners in financing, identifying potential distributors, understanding regulatory or documentation requirements, or navigating through customs. Exporting requires a steadfast commitment, but the return on investment can be substantial. Whether you are looking to make your initial export sale or would like to expand into new markets, it is critical now more than ever that companies have a firm grasp on the foundation of engaging in international business. Join the International Business Center (IBC) of Northern Kentucky University and Northern Kentucky International

Today, greater than 70 percent of the world’s purchasing power lies beyond the borders of the United States presenting incredible opportunities and numerous benefits. As former Secretary of Commerce Carlos M. Gutierrez stated in his 2008 Message from the Secretary of Commerce, “Each year, U.S. companies rely on exporting to diversify their customer base, manage market fluctuations, grow, and become more competitive.� These benefits are not limited to large corporations. Of the 250 million U.S. firms engaged in international sales, 97 percent are small and medium-size companies. While the opportunities are plentiful, exporting

Trade Association (NKITA) at the Global Business Basics seminar Tues., Dec. 1 7:30 a.m. - 1 p.m. in the Student Union ballroom on Northern Kentucky University’s Highland Heights campus. The Global Business Basics seminar will connect you with the necessary resources and provide innumerable solutions for reaching new customers and making sales in a global environment. The Global Business Basics seminar will provide an executive-level practical foundation from experts in the field of international business. Contact Jennifer Schwachter, schwachtej1@nku.edu or 859-392-2421 for more info.

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October 2009 Monthly Economic Indicators Reports 1 Month 1 Year Aug. (p) Jul. % Change Aug. % Change Labor Force1 2009 2009 Ago 2008 Ago Boone County 62,630 63,467 -1.32% 62,761 -0.21% Campbell County 45,402 46,043 -1.39% 45,387 0.03% Kenton County 85,006 86,237 -1.43% 84,996 0.01% Northern Kentucky Total 193,038 195,747 -1.38% 193,144 -0.05% Cincinnati MSA (000’s) 1,126 1,132 -0.52% 1,142 -1.37% Employed Residents Boone County 56,764 57,272 -0.89% 59,155 -4.04% Campbell County 40,711 41,076 -0.89% 42,426 -4.04% Kenton County 76,522 77,208 -0.89% 79,746 -4.04% Northern Kentucky Total 173,997 175,556 -0.89% 181,327 -4.04% Cincinnati MSA (000’s) 1,015 1,016 -0.07% 1,071 -5.27% Unemployment Rates (%) . Diff. Diff. Boone County 9.4 9.8 -0.4 5.7 3.7 Campbell County 10.3 10.8 -0.5 6.5 3.8 Kenton County 10.0 10.5 -0.5 6.2 3.8 Northern Kentucky 9.9 10.3 -0.5 6.1 3.7 Cincinnati MSA 9.9 10.3 -0.4 6.2 3.7 Kentucky 10.8 11.0 -0.2 6.5 4.3 Comparable U.S. 9.6 9.7 -0.1 6.1 3.5 Aug. (p) Jul. 1 Month Aug. 1 Year Jobs in Location2 2009 2009 % Change 2008 % Change Cincinnati MSA (000’s) 1,004.6 1,002.7 0.19% 1,047.3 -4.08% Goods Producing Industries(000’s) 147.8 147.7 0.07% 168.5 -12.28% Service Providing Industries(000’s) 856.8 855.0 0.21% 878.8 -2.50% Cinci MSA Manuf. Emp.(000’s)2 102.8 101.7 1.08% 119.2 -13.76% Durable Goods 58.0 57.6 0.69% 71.4 -18.77% Nondurable Goods 44.8 44.1 1.59% 47.8 -6.28% UNITED STATES Aug. (p) Jul. 1 Month Aug. 1 Year 2009 2009 % Change 2008 % Change Federal Reserve Board Index 97.4 96.7 0.78% 109.2 -10.73% of Industrial Production (2002=100) Composite Index of Leading Ind.4 102.5 101.9 0.59% 100.6 1.89% (2004 = 100) Inflation5 Aug. Jul. 1 Month Aug. 1 Year Consumer Price Indexes 2009 2009 % Change 2008 % Change (1982-84 = 100) “All Urban Consumers” (CPI-U) (SA) 215.4 214.5 0.45% 218.6 -1.44% “Urban Wage Earners and Clerical Workers” (CPI-W) (SA) 210.8 209.6 0.55% 214.7 -1.85% Producer Price Index 174.7 171.7 1.75% 182.5 -4.27% for Finished Goods (1982 = 100)(SA)(p) Cincinnati/Northern Kentucky (CMSA) 1st Half of 2009 2nd Half of 2008 CPI-U 198.9 203.0 Employment ( Not Seasonally Adjusted)1 Labor Force Total (000’s) 154,897 156,255 -0.87% 155,387 -0.32% Employment Total (000’s) 140,074 141,055 -0.70% 145,909 -4.00% Unemployment Rates (%) 9.6 9.7 -0.1 6.1 3.5 Output, Production & Income Qrt Qrt 1 Qrt Qrt 1 Year Real “GDP” (Gross Dom. Pro.)3 ‘09 2nd ‘09 1st %Change ‘08 2nd % Change (Billions,quarterly data at 12,901.5 12,925.4 -0.18% 13,415.3 -3.83% seasonally adjusted annual rates)(r) Personal Income (Billions)3 11,971.8 11,952.7 0.16% 12,292.9 -2.61% (Seasonally Adjusted Annual Rates)(r) 1. Bureau of Labor Statistics, Current Population Survey, Local Area Unemployment Statistics (LAUS) or Workforce Kentucky, Labor Force Statistics (LAUS) 2. Bureau of Labor Statistics, Current Employment Survey 3. U.S. Bureau of Economic Analysis (BEA) 4. The Conference Board U.S. Business Cycle Indicators. 5. Bureau of Labor Statistics

Center for Economic Analysis & Development Northern Kentucky University 2622 Alexandria Pike Highland Heights, KY 41099 http://cead.nku.edu

Northern Kentucky Business Journal


November 2009

nkychamber.com 21

Northern Kentucky Business Journal

Internship Opportunities Offered at Northern Kentucky Chamber

Congratulations To ...

The Northern Kentucky Chamber is working to strengthen our relationship with area colleges and universities throughout the region and build a network connecting post-secondary students to the workforce. At the Chamber, we recognize the need for a formal process within our organization to highlight opportunities with the Chamber. Unpaid internships are available at the Northern Kentucky Chamber of Commerce. Full details for each internship position at the Chamber will be posted on jobs-nky.com by the end of the month. In the meantime, applications are being accepted for internships starting in January 2010. Send the resumes to Amanda Dixon at adixon@nkychamber.com. The internship positions are unpaid and will begin January thru April 2010 (varying based on college calendars). The opportunities being offered are as follows: Public Policy Intern Business Development and International Trade Intern Communications & Marketing Intern Networking and Special Projects Intern LEGACY (YPO) Marketing Intern Education & Workforce Solutions -Marketing and Graphic Design Intern We look forward to hearing from the many talented students across the Northern Kentucky/Greater Cincinnati region! Contact Amanda Dixon adixon@nkychamber.com or 859-578-6396 for more information.

Small Business Seminars: Lead, Innovate, Transform Entrepreneurs, business owners and leaders are constantly working to keep

themselves just ahead of the competitive or collaborative curve. Business owners can insure that this happens by engaging in awareness activities that increase and encourage conscious innovation and communication. Innovation is the act of introducing something new. It may refer to incremental, radical, and revolutionary changes in thinking, feeling, behaving, projects, process, or organizations. Something new must be substantially different to be innovative, not an insignificant change. Innovation is the embodiment, combination, or synthesis of knowledge in original, relevant, valued new products, processes, or services. The goal of innovation is positive change, to make someone or something better. There are many ways to be innovative inside a corporation. One way is to look at the specific potential of each single employee. “We believe strongly in our motto BOLD COMPANIES CREATED ONE PERSON AT A TIME and are dedicated to helping companies recognize and achieve boldness through innovation and conscious awareness.” Says Dr. Debra Ooten, CEO of Conscious Dynamics. Bold Companies understand the importance of an innovative approach to the management of their most powerful resource, their employees. “Employees are the largest investment any company makes to leverage that investment resulting in a greater return on investment. Motivated, empowered, team-oriented employees enhance productivity, improve service, increase customer retention, and contribute to higher profitability.” Said Debra. Through training, consulting and team building, and by using state of the art tools, entrepreneurs, leaders and teams gain a broader understanding of how communication habits dynamically affect innovation capabilities. With this understanding comes the ability to perform and create in more focused, productive ways. Innovation is a direct result of increasing the ability of a team to work together.“National and International companies understand how important is to develop an Employee Empowerment Plan that will motivate and broaden the horizons of their executives, managers, team leaders and teams.” Said Daniele S. Longo, VP Business Development and International Trade. “Change comes from the Top of the Organization. CEOs and entrepreneurs should be able to understand their own strengths, weaknesses and areas of opportunities to be able to lead, innovate and transform on organization.” To learn more how you can be an engine for change and innovation in your company, come to our “Lead, Innovate and Transform” seminar. Wednesday, November 18, 2009, 11:00 a.m. – 5:00 p.m., Northern Kentucky Chamber of Commerce Article submitted by Dr. Debra Ooten and Deni Tato, Conscious Dynamics, members of the NKITA International Trade & Investment Conference committee.

Custom Wine Online opened a location at 630 Madison Avenue, Covington and celebrated with a ribbon cutting. Custom Wine Online creates custom labeled, highquality wines to commemorate, celebrate and appreciate the times of your life. Perfect for weddings, corporate branding, and marketing/advertising. (L-R) Brian Ruschman, C-Forward; Zubaidah A’zim, UPS; Doug Pacheco, Custom Wine Online; Miriam Pacheco, Custom Wine Online; Richard Cummins, ISOC Net e-Solutions; Michelle Cestaric, Staffmark; Joni Nevitt, Heritage Bank; Kevin Beasley, Systems Insight.


November 2009

22 nkychamber.com

Northern Kentucky Business Journal

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November 2009

nkychamber.com 23

Northern Kentucky Business Journal

COMMUNITY DRIVEN NKY.com is an affiliate of the Cincinnati.Com network.

Slowdown continued in summer of 2009

nky marketwatch

Susan Smith is a market analyst for Enquirer Media. To reach her, send e-mail to ssmith@nky.com. Information was compiled from a variety of media, government and data sources.

J

uly and August statistics for the Cincinnati and Northern Kentucky metropolitan area showed the same downward trends we have observed for months. Here are results from specific segments: In housing, the number of existing homes sold decreased 2 percent in August, 2009, over August, 2008. August home sales in Northern Kentucky fell 16 percent from last year, while Southwest ohio sales rose 2 percent. Total residential building permits decreased 11 percent from last August. Year-to-date showed a 26 percent decline. Average days on the market for August 2009 versus August 2008 for the ohio counties was unchanged; Northern Kentucky’s de-

creased one day (-1.2%) and Se Indiana’s was up one day, or about 1 percent. August average home sales price decreased 12 percent yearover-year in Northern Kentucky to $146,211; ohio fell to $161,747 (-2%); and Se Indiana dropped 11 percent ($122,493). In employment, local job growth in August 2009 declined 4 percent, or a loss of 42,700 jobs from the previous year. education and health services showed the only gain (+0.8%). Weaknesses occurred in manufacturing (-13.8%), construction (-8.7%), information services (-5.3%), leisure and hospitality services (-5.0%), financial ser-

Metro area news nuggets

T

Share

Submit news and photos about your organization directly to NKY.com, the news and information Web site for Northern Kentucky.

Let the community know about your promotions, new contracts, special celebrations and other happenings. Thousands of Northern Kentucky people look at “Share” every month. Not only that, when you use “Share,” you make your news available to The Kentucky Enquirer and the ten Community Recorder newspapers at the same time. To get started, just go to NKY.com and follow the simple instructions.

nky trendwatch Monthly comments from a local expert

n

Meters & Miles in Newport was purchased and reopened the first of September as Bob Roncker’s Running Spot. All four employees were retained.

n

Brothers Bar & Grill was scheduled to open in mid-October at Newport on the Levee.

n

Three Tiers Bakery Contemporary Cakes and Cupcakes was scheduled to open in Bellevue.

n

Siam Orchid (Thai cuisine) was scheduled to open in Bellevue in late October.

n Christian Moerlein Brewing Co. was approved by the Cincinnati City Council to build the Moerlein Lager House, a 15,000 sq. ft. restaurant and microbrewery, at the Banks. They would employ 200 and open in spring of 2011.

n An Interstate All Battery Center (1,600 sq. ft.) franchise store opened in West Chester employing six and the owner plans to open a Northern Kentucky location by next summer.

n

n Nordstrom (138,000 sq. ft.) opened its Kenwood Towne Centre store. Additional September openings at the mall include Vera Bradley, Jule, Bankhardt’s Luggage and Stafford Jewelers.

Airport passenger traffic declined 22 percent for August 2009 versus the same month in 2008 and 23 percent year-todate at the Greater Cincinnati/Northern Kentucky International Airport.

n

n CVG was ranked 9th for on-time arrivals among the 31 busi-

H & M (Hennes & Mauritz affordable high fashions) was scheduled to open the first week in November at the former Showcase Cinema site (22,000 sq. ft.) in Kenwood Towne Centre and early November at Florence Mall (16,000 sq. ft.).

n

Local 127 (“New American” fine dining) opened at the former Jean-Robert at Pigall’s site in downtown Cincinnati.

est national airports in July according to the Bureau of Transportation Statistics.

n

The Prince Hall Shriners will hold their convention in Cincinnati August 12-17, 2011. The Cincinnati USA Convention & Visitors Bureau estimates that 25,000 members will attend using 17,000 hotel room nights and boosting the local economy by $5 million.

Starting a business? Look before you Leap

By Robert Arnold

T

he moral of the well known Aesop’s Fable has remarkable application and provides a valuable lesson for those who are thinking about starting their own business. The Associated Press recently released a story citing an 8 percent increase in individuals who are engaging in the direct selling business. These types of businesses include the army of Avon ladies, work tools, financial products, and, yes, even Tupperware. The AP attributes this increase to the rise in unemployment and the need for a second and in some cases a third household income. I have personally experienced a growing interest from a number of clients interested in setting up businesses, most often in the form of a limited liability company, to begin a “side” business to generate supplemental income. These types of businesses have ranged from real estate investing to tutoring services and even direct selling opportunities. These individuals who are branching out into

November 2009

By Susan Smith

vices (-4.6%), professional and business services (-4.0%) and trade, transportation and utilities (-2.8%). In the automotive sector, year-over-year new vehicle sales in the metro area were down 13 percent in July. Southwest ohio and NKY showed decreases while Indiana showed an increase. New vehicle sales in the metro area for the month were 6,552 units, a decrease of 981 units from last July. Northern Kentucky sales were down 63 units or 5 percent. Southwest ohio sales decreased by 927 units or 15 percent. Indiana showed an increase in new vehicle sales of nine units or 4 percent.

n Levi Strauss & Co. opened its new distribution center hose(151,000 lookingsq.for good news inand the20 more to ft.) economic in Hebron with 20 employees Cincinnati-Northern Kentucky be hired over the next two years.metropolitan area would have had to look fairly hard in the spring as the HollywoodtoCasino wasthe thenational only one recession. of the three southeast economyn continued mirror casinos show a revenue Let’sIndiana start with thetovehicle sector:gain in August. Year-over-year new vehicle sales in the metro area to the Economic Development Performance Evaln According were down 23 percent in march. Southwest ohio, uation released by Policom Corp. at the request of the Northern Northern Kentucky and Indiana all showed decreasKentucky Tr- County Economic Development Corp. and the Vision es. New vehicle sales in the metro area for the month 2015 group, new “primary jobs” (defined as high-paying positions) reached 3,150 in 2008 in the three Northern Kentucky counties. Most of these jobs came as a result of Fidelity Investments expanding in 2008 in Covington.

Job growth at Fidelity’s Covington campus had a lot to do with good numbers for Northern Kentucky in 2008. Gov. Steve Beshear and Fidelity Chairman Edward Johnson, right, marked the firm’s $115 million expansion in May of 2008. The 2009 outlook isn’t nearly as strong in the region.

A monthly look at news & trends in Northern Kentucky & Greater Cincinnati

new endeavors often find it very easy to form their business, and in some instances, with very little financial capital – which is what makes this an appealing option. However, I have found that many of these individuals have not considered the difficulties and dangers that go along with operating their own business. For these folks and others who may be considering a side business to supplement their income, here are just a few tips to consider. Tip 1. If a business is formed using an LLC or a corporation, remember this is a legal entity that must be operated in the required manner. First, an employer identification number should be secured. An annual filing with the Secretary of State is necessary. Also required is an annual meeting where minutes of the meeting are recorded. Separate and adequate books and records must be maintained. most importantly, money from the business must not be co-mingled with personal funds. This means a separate business account should be established.

These simple but essential steps are time consuming and thus often overlooked in the operation of a “side” business. Tip 2. In many cities and counties, there are local regulations, such as the requirement of applying for a business license, which the new business owner should investigate. Tip 3. Have a plan to address any tax consequences arising from the new business. For example, when a business generates revenue, there may be a requirement to report that to the federal, state, county, and city governments and to pay a tax on the net income of the business. This cannot be overlooked, and it may be worth consulting an accountant or tax expert for assistance. Tip 4. Successfully operating a new business takes a significant time commitment. While this new venture may supplement your income it also decreases discretionary time that was being spent on fun and

Dr. Robert Arnold holds a JD. and Ph.D. and is a Professor of Business at Thomas More College. He maintains a law practice and a consulting practice in the area of sports and entertainment. Reach him at robert.arnold@thomasmore.edu.

family. This is a trade-off that should receive serious consideration. Tip 5. operate your new venture from a well thought out, written business plan. This does not need to be elaborate, but it should be written. The old adage “a failure to plan is a plan to fail” applies here. Individuals who look before they leap will find their new venture a more enjoyable experience with a better chance for success. For resources in starting a business, try the following Web sites: www.sos.ky.gov www.nkychamber.com www.e-myth.com.


24 nkychamber.com

November 2009

Northern Kentucky Business Journal

Northern Kentucky Business Journal November 2009  

Northern Kentucky Business Journal Novermber 2009 edition

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