Ka Wai Ola - Office of Hawaiian Affairs, Volume 18, Number 4, 1 ʻApelila 2001 — Professional advice from OHA's small business conference [ARTICLE+ILLUSTRATION]

Professional advice from OHA's small business conference

By Caitriona Kearns On March 22, OHA hosted its second annual Small Business Conference with 140 attendees. They eame to learn from loeal professionals how they might improve on their existing business practices, or what they need to do to put their business ideas into reality. Small business in Hawai'i is no different than in other places. It takes commitment, hard work, a good idea, smart timing as well as determination to fight against the odds to get started with a new business. According to the U.S. Small Business Administration, over 50 percent of small businesses fail in the first five years. This may discourage some people from starting their own business, however, it also indicates that a good portion of small businesses do make it. Attendees selected two from a list of eight seminars ranging from writing creative press releases to building financial statements, and

from the basics of how to get started to hooking up to the Internet. Sam Choy, the keynote speaker, said, "Half of what I make goes to taxes, and I have a good wife who takes care of that for me." Constant training, sending managers and staff to seminars, and what Choy referred to as the recent trend to have meetings, are key to his management style. "We have to be great communicators," Choy advised.

Derek Kurisu from KTA Super Stores on Hawai'i Island ran a grass roots marketing seminar, presenting such talent that he would pass as a stand-up comedian. The audience chuckled away at his unending humor, while he shared his experienee as an accomplished businessman in the grocery business. Kurisu has successfully integrated humor with business and used it to stand out from his competition. Currently,

he produces a TV show in whieh he playfully showcases all the positive things that happen on Hawai'i, for example, spotlighting children in schools or senior citizens. A recent campaign about children drinking milk caused milk sales in his stores to skyrocket. Kurisu puts his energy into keeping in touch with the community and is aware of the effect it has on KTA sales. On another community building partnership program, Kurisu launched a new loeal brand, the Mountain Apple brand, whieh currently has 77 business partners, 15 that never owned a business before. "Figure out what community your customer is in, and go study them," said Linda Cox from UH, speaking to a group of attendees who were interested in a home-based business. Cox suggested thinking of the home office as a resource from three points of view: time, money and space. She recommended that See BUSINESS on page 1 1

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Restaurcrfeur Sam Choy emphasized the most important ingredient in a Hawaiianowned business: aloha. Photo: Caitriona Kearns

BUSINESS from page 10 home-based businesses have a clear plan about their use of the space and whether they should eventually move into a new commercial site. Mihon Kwoek, DBEDT, and Russell Yamada, CPA, jointly headed a seminar on How to get Set-Up and Started. Their recommendation is for small businesses to incorporate as an S-corporation because it will save tax dollars for a start-up business. An S-corporation's ineome is taxed directly to the shareholders whereas a C-coporatoin is taxed twice, onee to the corporation and then to the shareholder. Ron Kawahara, CPA, ran a seminar on Survival Management Tips. "In bad times there is a tendency for businesses to cut back. Get rid of staff first and don't cut marketing budgets. Actually, spend more on marketing," offered Kawahara. "Of course, this is one of the reasons that it may be difficult if you

hire family or friends to work for you." Kawahara recommends keeping family and friendships away from business. For free press coverage and stretching marketing dollars, Mona Wood from Ikaika Communications, recommends working with the media and getting to know their names. "Be honest with the press," Wood advised. "Seventy-five percent of printed news is generated through public relations." The conference honored two loeal businesses that have paid their OHA loan and graduated from a Native Hawaiian Revolving Loan to conventional financing. Maui Laminates, ine., and Matt's Transmission, ine., shared the business of the year award for 2001. In addition, nine Hawaiian-owned businesses were recognized for their outstanding operations. For more information about OHA's loan fund, eall 594-1888. ■

D8EDT speaks on buslness start-up. Photo: Caltriona . Kearns