TowsonGlobal, the University’s business incubator, has recently launched the Entrepreneurs Portal, or what they’re calling “A one-stop online resource for those looking to start and run their own business,” according to Director of TowsonGlobal, Clay Hickson.

Hickson said the new Entrepreneur Portal and its intended benefits are not only for the Towson University community, but for anyone in the state, country or world who has an innovative idea to start a new business.

“Small businesses are the engine of the American economy,” Hickson said, adding that small businesses create more jobs.

Hickson says that the Portal aims to help Towson students realize that there are other opportunities than going to work for large corporations.

“That is a great opportunity, but there are fewer of those now,” he said. “If somebody has a great idea and can build it now, that’s tremendous. If they can do that and create a company close to home, that builds more economy for the region.”

The online portal provides templates for business plans and ways to submit yours to be reviewed.  Outside resources are also included, such as  “a sampling of the latest business globalization issues,” as well as local, national and international online resources that include home pages for important organizations from the Baltimore County Department of Economic Development to the United Nations and World Bank Group.

David Sawyer of the company Instant Karma Entertainment of Maryland is also a proponent of stimulating the local, national and global economy through small business ventures. IKE aims to provide employment opportunities in the communication arts and film industry for indigenous filmmakers, including graduates from Maryland schools with film programs. There were many financial obstacles in garnering funds as a new business, according to Sawyer.

“Banks are not willing to take a conservative risk,” he said. “Banks are treating business loans with a sense of trepidation based on all the bad mortgage loans they made over the last five years.”

Sawyer said the best advice he could give in regards to bank loans was to start with state-chartered banks like Patapsco, which, he learned, gave five Small Business Administration loans in Maryland last year in comparison with M&T Banks and Bank of Americas one each.

“The expenses of patents, trademarks, intellectual property protection, etc. can actually be prohibitive towards successful startup. America is no longer a business environment where if you have a great moneymaking idea, you can get adequate funding to generate revenue streams,” Sawyer said.

The Entrepreneurs Portal is one of several new projects and events from the incubator.

Current developments for the incubator include the upcoming Business Plan Competition and three information sessions coming up in November and the first week of December.

Alpha Kappa Psi is also hosting a business symposium on Saturday, Nov. 6, where Hickson will be making a presentation about the Entrepreneur Portal.

Visit the Business Incubator to learn more: http://www.towsonglobal.com/