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Workshop for Social Entrepreneurs with Disabilities Sarah Parker Harris, PhD Co-Principal Investigator Disability & Human Development Maija Renko, PhD.

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Presentation on theme: "Workshop for Social Entrepreneurs with Disabilities Sarah Parker Harris, PhD Co-Principal Investigator Disability & Human Development Maija Renko, PhD."— Presentation transcript:

1 Workshop for Social Entrepreneurs with Disabilities Sarah Parker Harris, PhD Co-Principal Investigator Disability & Human Development Maija Renko, PhD Co-Principal Investigator Managerial Studies Saturday, October 29 th 2011 PARTICIPATION THROUGH INNOVATION™

2 SPONSOR ACKNOWLEDGMENT This event is made possible by the generous sponsorship and support of the Chancellor’s Discovery Fund for Multidisciplinary Research, the Department of Disability & Human Development, the Department of Managerial Studies and the Institute for Entrepreneurial Studies at the University of Illinois at Chicago, and by Access Living.

3 Nebraska Self Employment Services program management administered by The Abilities Fund

4  Non-profit founded in 2000  Focused exclusively on expanding entrepreneurial opportunities for people with disabilities  Unique combination of financial products, training, technical assistance, and advisory supports

5 The Abilities Fund programs & services  Iowa Able Foundation —adaptive equipment loan program  Increasing Options Program —loans from $500-- $25,000. Loan guarantee up to $5,000 (*concluded)  Money Smart —online financial education, FDIC designed  DPN Toolkit— self employment resources for DPNs and other service providers  NSES — Nebraska Self Employment Services

6 NSES  July, 2006—contract with NVR to provide self employment services to consumers with disabilities in NE  400+ referrals  72 BPs completed/Biz starts  49 currently in business, 8 writing BP

7 NSES Process  Exploring Self Employment Workshop  NVR Pre-Assessment—SE Discussion Questionnaire  Application—Informed Choices©  Application interview  Feasibility Study  Comprehensive BP/Financial Planning  Business Support Services

8 ESE Workshop  Is SE right for me?  Interactive small group setting  Provides tools and info to help participants learn about: Testing business idea Personal/business finances Markets/customers/business management Access to capital  Recommended—not mandatory

9 SE Discussion Questionnaire  Clarify business idea before referral to NSES  Discussion tool for VR Staff  Referral to NSES—or not

10 Informed Choices©  Data collection tool  Thought provoking questions  Move forward in a planned, thoughtful manner  Better understanding of readiness to plan for business: Capitalization Start up Stabilization Profitability

11 Application Interview  Clarification of business idea  Skills, education, experience—technical ability  Accommodations for disability  Financial info; personal finances, resources, estimated capital requirements  Summary and recommendations

12 Feasibility…  Is the business idea feasible? Does the individual have the technical skills necessary to run the business (concept)?  Is there sufficient demand for the product or service (market)?  Can the product/service be provided profitably (financial)?

13 Concept Feasibility  Summarize idea  Describe product/service  Overview industry standards/trends  Legal organization  Client preparedness Education/experience Skills Impact of disability  Evaluation of client’s overall ability to manage the business  Evaluation of general concept feasibility

14 Market Feasibility  Growth stage/status of industry overall  Geographic area  Analyze the competition/advantage  Demographic definition of target market How many How much How often

15 Financial Feasibility  Client current financial position Debt/income ratio Credit report Benefits participation  Resources  Start up costs  Break even analysis Scenarios  Potential sources of funding

16 SWOT Analysis Recommendations  Strengths  Weaknesses  Opportunities  Threats  Identification of possible barriers Recommendation to either move forward to write business plan or stop business development and WHY

17 Business Plan  Client involvement  Comprehensive, “living” document  Utilize research from Feasibility Study  Marketing plan/Operational plan  Sources/uses of funds  Financial data; cash flow, break even, risk mitigation  Estimates, photos, forms, support resources

18 Financial Planning  Cost to start up  Cost to operate  Resources  Sources of funds Client NVR Other—personal loan, F&F, ES, REAP, SBA

19 Business Support Services  Business Launch Purchases/set up Marketing plan Bookkeeping  Reporting (VR) Monthly revenue and expense reports Status of business Ongoing support needs  Building Business Building a Better Business workshop  Small business record keeping  Marketing your business and yourself Networking  E-Newsletter  Website  Listserv  Main Street Fair

20 NSES Business Owners

21 Tag-A-Long Tami’s Pilot Service Tami Pierce—Grand Island  Over the road pilot car escort service for oversized loads  BP complete, 9/07  VR $$ for computer, advertising  2007 Women & Co award winner--$2,000  2008 WCMB--$1,000  2009 Entrepreneur of Distinction Award

22 Daniele’s Body and Sole Daniele Pitts Williams--Lincoln  Extended size women’s lingerie and shoes via internet website and party plan  BP complete, 5/08  VR $$, computer & software to launch web  2008 Women & Co grant winner--$2,000  2009 Entrepreneur of Distinction Award

23 Upholstery Rescue Vern Roso--Lincoln  Mobile upholstery service  BP complete, 8/07  VR $$ for commercial sewing machine, computer, biz ins.  Biz featured in 10/07 Midlands Business Journal article  2009 Entrepreneur of Distinction Award

24 KD Cleaning Services Kathy Dick--Hastings  Residential and commercial cleaning services  BP complete, 5/08  VR $$ for commercial vacuum, uniforms, advertising  2009 Women & Co award winner--$3,000

25 Renae’s Custom Cowboy Boots Renae Tollman Jones--Crawford  Custom cowboy boots and boot repair  BP complete, 1/08  VR $$ used for skiver, stitcher, & finisher  2008 Women & Co award winner--$2,000  2009 Entrepreneur of Distinction Award  Boots & Saddles Band

26 Fairley Good Cattle Co. Erin Clark Fairley--Brady  Cow/calf operation producing high quality beef  BP complete, 11/07  VR $$ for panels/posts, fencing materials  2009 Women & Co award winner--$5,000

27 Open Doors Computer Services Robert Danner--Lincoln  Home, small business & student computer repair and service, computer salvage  BP complete, 3/08  VR $$ for advertising  In business since 3/07, hired 1 FT employee since VR funded  2010 Entrepreneur of Distinction Award

28 Monarch Massage Betsy Wagner--Lincoln  Licensed massage therapist  BP complete, 6/07  VR $$ for motorized massage table, computer/software, seated massage chair

29 BK Design Company Brett Klusaw--Omaha  BA Degree Studio Art/Intermedia  Feasibility complete, 9/11  BP in progress, VR $$ requested for computer software/hardware updates

30 B & B Street Motive Jesse Beaty—Grand Island  Automotive repair and custom exhaust service  BP complete, 6/10  VR $$ for exhaust pipe tubing bender, wheel combo  2011 Entrepreneur of Distinction Award

31 VanHorn Saddlery Jake VanHorn—Ogallala  Custom saddles and fine leather goods  BP complete, 5/09  VR $$ for leather splitter, embosser, sewing machine, tools  2011 Entrepreneur of Distinction Award

32 Buckskinz Devon Adams--Peru  Unique art pieces using natural materials  BP complete, 4/10  VR $$ for website, promotional materials, registration of trade name, raw materials

33 Brady Get-N-Go Jack Mann—Brady (pop. 350)  Gas station-tire shop- deli-grocery-liquor- convenience-bait store  BP complete, 10/09  VR $$ for inventory  Personal loan, REAP loan  2 FT, 3 PT employees  2010 Entrepreneur of Distinction Award

34 Ms. Lucy’s Shea Butter Thea Scott--Omaha  All natural Shea Butter products  BP complete, 6/10  VR $$ for camera, raw materials, computer, website, cash register, promotional material  2011 Entrepreneur of Distinction nominee

35 NSES Staff  Christine Hess, Program Manager christinehess@abilitiliesfund.org  Cory Roberts, Program Administrative Assistant cory@abilitiesfund.org  Carol Blood, Business Support Services carol@urpr.biz website: www.abilitiesfund.org

36 ACCESSIBLE ASSETS: ASSET BUILDING IN THE DISABILITY COMMUNITY THE SHRIVER CENTER PARTICIPATION THROUGH INNOVATION University Of Illinois At Chicago Chancellor’s Discovery Fund For Multidisciplinary Research OCTOBER 29, 2011 Recipient of 2010 Macarthur award for creative and effective institutions

37 Shriver Center The Sargent Shriver National Center on Poverty Law ◦ A national law and policy center that provides national leadership in identifying, developing and supporting innovative and collaborative approaches to achieve social and economic justice for low-income people. Asset Opportunity Unit ◦ Takes action against poverty by advocating for policies that expand asset-building opportunities for all.

38 Income Poverty  U.S. Poverty Level in 2010  46.2 Million  15.1%  52 years Comparison of People with Disabilities vs. Without

39 Income Poverty v. Asset Poverty  1 in 5 U.S. families are asset poor.  In Illinois over 25%, or 1 in 4, households are asset poor.  1/3 of U.S. households have zero or negative assets.  As many as 80% of households with a disability have zero assets. Asset poverty focuses on total household wealth, rather than just income An “asset poor” household does not have enough assets to meet its expenses for 3 months if no outside sources of income

40 Asset Building and Disability Community  Accessible Assets, Part 1: Bringing Together the Disability and Asset- Building Communities, November 2009  Accessible Assets, Part 2: Asset Development Strategies for People with Disabilities, Feb. 2011  University of Madison: Understanding Attitudes of Disabled Populations about Savings and Financial Education, April 2011  Washington State Asset Building Coalition, June 2011  North Carolina Asset Building Conference, Oct 2011

41 Mayor's Office for People with Disabilities

42 Asset Building Strategies for the Disability Community  Asset Limit Reform  Individual Development Accounts (IDAs) and PASS Plan  ABLE Accounts

43 Asset Limit Rules  States have authority to eliminate asset tests in TANF and Medicaid and, with USDA approval, in SNAP  Several states have implemented asset test reform  States can implement asset limit reform by legislation or administrative rule  See “Reforming State Rules on Asset Limits,” Clearinghouse Review (Mar-Apr 2007), State Asset Limit Toolkit, and CFED Resource Guide

44 Federal Asset Limit Reform  Introduced by Rep. Niki Tsongas (D-MA)  Revise Asset Limits: $5,000 per individual, $7,500 per couple Index to inflation Education savings accounts excluded SSI Savers Act of 2011 (H.R. 2103) 44 SSI Savers Act of 2010 (H.R. 4937)

45 Individual Development Accounts  Matched savings accounts (1-4 times) operated by service providers or institutions  The income limit to participate is usually 200% of FPL  Typically savings are designated for a goal of either purchasing a home, starting a business, or attending school  Participants receive financial literacy training

46 Allies, Inc. Success of Saving (SOS): A saving program engaged in the fight to reverse endemic poverty among people with disabilities in New Jersey. Program offers matched savings accounts to provide an incentive for attending and completing financial literacy coursework with case management services provided by Allies, Inc. Unlike AFI IDA programs, savers may save for any asset goal (furniture, television, vacation, engagement ring, etc.) Savings accounts are opened jointly between Allies, Inc. and the saver. Because Allies, Inc. acts as the corporate fiduciary of these accounts, funds deposited are ineligible for consideration of Social Security benefits.

47 PASS Plan  Beneficiaries can write a plan that SSA approves to set aside earned or unearned income to meet an occupational goal, such as starting a business, attending school, or supporting their current or prospective employment  The income or resources set aside for this goal will not count to determine the amount of SSI monthly benefits

48 IDA and Plan to Achieve Self -Support (PASS)  Unfortunately, income and assets used for expenses of getting a job or starting a business do not count toward a PASS plan.  IDA for post-secondary education or business start-up can be folded into a PASS account.  Hector receives $700 in SSDI benefits. He writes a PASS Plan which SSA approves that includes setting aside $300 per month in an IDA to start a business. Hector receives a 2:1 match in his IDA program. The PASS Plan will allow for Hector to receive a total monthly benefit amount of $714 and he will have $600 per month of savings for his goal.

49 PASS Budgeting 1) Total Income$700 (SSDI) - Income not counted-300 (PASS) - 20 (exclusion) ___________________ _____ = Countable Income $380 2) SSI Federal Benefit Rate $694 - Countable Income -380 ____________________ _____ = SSI Benefit $314

50 Federal IDA Reform  Raises the authorization limit to $75 million  Simplifies asset purchase processes  Expands eligibility standards  Allows matches to be placed into a 529 college savings account  Assets for Independence Reauthorization Act of 2011(H.R. 1623)  Increase federal funding available for IDAs by $25 million  Eliminate requirement for state matching funds  Not reintroduced in 2011 Assets for Independence Reauthorization Act of 2010 (H.R. 6354) IDA Protection Act of 2010 (H.R. 6067)

51 Achieving a Better Life Experience (ABLE) Act of 2009 H.R. 1205 & S. 493 (February 26, 2009) Introduced by Sen. Robert Casey (D-PA) and Rep. Ander Crenshaw (R-FL) Purpose: ◦ To encourage & assist individuals & families in saving private funds for the purpose of supporting individuals with disabilities to maintain health, independence, and quality of life ◦ To provide secure funding for disability- related expenses on behalf of designated beneficiaries with disabilities that supplement, not supplant, public benefits ◦ Not reintroduced in 2011

52 Karen Harris karenharris@povertylaw.org www.povertylaw.org karenharris@povertylaw.org Thank you!

53

54 WORKSHOP AGENDA Lunch 12:00 pm Workshop Session 11:00 pm Break2:00 pm Workshop Session 22:15 pm Break3:15 pm Workshop Session 33:30 pm Cocktails & Networking Hour4:30 pm


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