[JayCT]

I think the difference could be that there are a lot less people starting marginal businesses here. I have family in other parts of the country that have multiple businesses registered but they are not anything that is a real money maker. Sort of like on Green Acres when Mr. Douglas needed something and Mr. Haney showed up with a different business card for what he needed. Jay

[alanaj7]

Two words. Heck Yes. I respond this way because I've lived in CA, CT, FL and went to college in AL. The big difference IMHO is that in CT you are surrounded by the success of other entreprenuers so it's easy to visualize your own success. In addition, I think the resources are here. When I lived in FL I felt like a fish out of water. In CT you can get creative. You can start a small business by yourself or with a couple friends. It's easier to venture out on your own when you're surrounded by others who have done it and are doing well for themselves.

[CLees]

Originally Posted by mlassoff

I think they are.

We have many thriving small businesses here that have gone from generation to generation. At the same time I don't see as many starting businesses here as I did in Austin-- especially the high risk/high reward variety. Is it the risk-adverse culture here? Is it demographics? Is it the COL? Is it the simple abundance of good job options for professional, motivated folks that makes starting a business less attractive?

I think people in CT are far more driven than those in FL. Whether it be a drive to get through school or a drive to start their own businesses, CT residents have an extra gear that Floridians simply don't for the most part. Perhaps its the heat and humidity, perhaps its the ability to get by without a huge salary. It could also be the laid back culture. Whatever it is, it wasnt for me and im happy to be back amongst intelligent, hard-working people who are driven to be successful.

I believe that many young people in CT take their degrees and entrepreneurial ideas with them when they decide to leave the state(and many young residents are leaving) so that may make it seem as though there arent as many small businesses started by young CT'rs as they have taken their big plans elsewhere.

[Mr_250]

I think a lot of young people moving away from the State is killing it. I am going to visit Charleston soon and after doing some research it was amazing to see the amount of start up and venture capitalist in that area. For example, CT has to pay $24M to a Billion dollar company to "gain" 150 jobs. Charleston, on a block of 3 streets, has 4 tech companies each building/renovating new offices and hiring people (ranging from 25 to 150 openings each). Young guys and gals run these companies and taking risk and from what it seems its paying off. Granted, like all tech companies, not all stay around, but what a person learns from one company they take and bring to another start up.

As someone stated above, the "dream" of working for six figures at Travelers is some people's ideal situation. But, bringing in no new ideas, culture or retaining people, CT will become a land of Cube Farms (new favorite term) which leads CT to become stagnant.

[mels]

Originally Posted by mlassoff

I think they are.

We have many thriving small businesses here that have gone from generation to generation. At the same time I don't see as many starting businesses here as I did in Austin-- especially the high risk/high reward variety. Is it the risk-adverse culture here? Is it demographics? Is it the COL? Is it the simple abundance of good job options for professional, motivated folks that makes starting a business less attractive?

Is it maybe that the bulk of the public doesn't see the entrepreneurial goings-on in CT? I see it a lot, though I would guess I am closer to that world than most. There is the UConn IP Law Clinic, the State of CT business incubator program, the CT Technology Council who spearheads a lot of events, U of Hartford Entrepreneurial Center, etc. all of which are helping small start ups. A nonprofit company called CT Center for Advanced Technology essentially houses/incubates/develops small start ups in East Hartford by providing facilities for businesses to grow, some of which have gone on to become million dollar companies. Most of them are 2 man type operations, some in the hard sciences, some in the tech industry...they are out there. I just don't think the average CT suburbanite sees/thinks about them.

[Mr_250]

Originally Posted by mels

Is it maybe that the bulk of the public doesn't see the entrepreneurial goings-on in CT? I see it a lot, though I would guess I am closer to that world than most. There is the UConn IP Law Clinic, the State of CT business incubator program, the CT Technology Council who spearheads a lot of events, U of Hartford Entrepreneurial Center, etc. all of which are helping small start ups. A nonprofit company called CT Center for Advanced Technology essentially houses/incubates/develops small start ups in East Hartford by providing facilities for businesses to grow, some of which have gone on to become million dollar companies. Most of them are 2 man type operations, some in the hard sciences, some in the tech industry...they are out there. I just don't think the average CT suburbanite sees/thinks about them.

The above might be true. What is an eye opener to me is that CT needs so much "oversight." Many programs you listed above are State run, which has it's ups and downs. As example, CT Innovations employees are State of Connecticut employees (see CTsunlight.org). They are listed as a venture capital but when you have a guy making $188k no matter what; I would think that person, not having skin in the game, is more concerned about other things rather than putting up $200k of his own money and MAKING sure his investment is taken care of. I think it would be more in in your face if CT just let companies grow/fail/stumble/bloom on their own and NOT get the CT government involved on any level.

What I noticed, working with the State for upwards of 10+ years is that CT makes "progressing" more and more difficult. Every job I been on just seems like they add another layer of paperwork so that someone in Hartford can justify their job. If CT eased up on business (of all types) maybe people would be more apt to starting a business. I know I would.

[Mr_250]

So, this is interesting. The agency that praised themselves on being such a good venture capital "firm" has ran out of money. Crisis at Connecticut Innovations as State Agency Runs Out of Money for Entrepreneurs. — Daily Ructions

This is what you get when you let the State run a "venture capital" business. All they know how to do is hand out money but they do not make money. Another feature in the cap for Malloy.

Btwv they still have enough money to pay the director his $188k salary. This whole thing is a sham.

[mlassoff]

Originally Posted by Mr_250

So, this is interesting. The agency that praised themselves on being such a good venture capital "firm" has ran out of money. Crisis at Connecticut Innovations as State Agency Runs Out of Money for Entrepreneurs. — Daily Ructions

This is what you get when you let the State run a "venture capital" business. All they know how to do is hand out money but they do not make money. Another feature in the cap for Malloy.

Btwv they still have enough money to pay the director his $188k salary. This whole thing is a sham.

The director of CI is a she, not a he.

The bond commission that funds CI will not be meeting for the next two months. (Election day?) So there won't be any continued funding without a bond commission vote. Perhaps something that could have been planned for? But not 100% CI's fault.

The problem is programs, projects and ventures to which they have committed funding might see an injurious delay. Others have called CI the "VC of last resort". I think this illustrates why.

[JayCT]

Uh... Kevin Rennie is not exactly a unbiased journalist. I am not saying what he is saying is entirely wrong but I would take much of it with a grain of salt. Jay

[Armyvet1]

Originally Posted by Mr_250

Haha, love it!

I started a business when I was 16. Granted it was "not legal" but I did landscaping around several towns and made actually good money. From 16 to 20 I ran it and it paid enough money that I actually paid a majority of my college off in cash, no debt (minus my MBA). I went to JWU for entrepreneurship with all intentions of starting a business right out of college, well, like life all things don't pan out the way the way you want it.

I recently was looking into starting another business, but the union hold in CT is so tight it makes it very limited, so I kind of put that on hold. I would love to start my own business in that field, but the COL and the union requirements make it so tough to get any work that it is not worth it. However; SC offers great business culture for this.

I think does have pockets of entrepreneurs in New Haven, Stamford and Hartford. I think mlassoff turned me on to this website Home | Connecticut Innovations it is awesome. It showcases start-ups that CT has to offer. Being so close to NYC and Boston we get a lot of spill over from the major cities which is a huge plus for CT.

To add to your topic...I have not seen too many businesses (at least in my industry) that have survived past 2nd generation. I have worked for 2 companies that have been in 2nd generation and failed after I left/as I left. CT is very tough place to do business. I work for a larger company from out of State and WE are having trouble keeping up with regulations in CT.

I can't start my own automotive business in Connecticut because of unions? I hate unions, except credit unions, they're pretty good.

I got this dream and I will do it but geesh, I got to confront the unions, the gun laws, just to be a resident of Connecticut? I know my screen name is Armyvet1 but how many battles am I facing? Good lord.