Business Generation

PROVIDENCE – A dozen companies – half of them out-of-state businesses looking to relocate to the Ocean State – are lining up to take advantage of the same controversial loan-guarantee program that drew Curt Schilling’s video game company, 38 Studios LLC, to Providence.

Keith W. Stokes, executive director of the R.I. Economic Development Corporation, told the EDC board Monday about the 12 companies as board members were preparing to take a final vote on overhauling the $125 million Job Creation Guaranty Program.

The companies are requesting loan guarantees totaling $66 million and, combined, would create 636 jobs.

Because the EDC approved a $75 million loan guarantee for 38 Studios last year, only $50 million is left for guarantees.

On paper, some of the businesses appeared to be the type that economic development officials want to attract to Rhode Island, particularly to Providence’s Knowledge District.

One out-of-state company, an information technology services firm, requested a $10 million loan guarantee. In ex

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If you need small business advice, we’ve got it. And you can have it for free. We offer roundups everyday of the business week and ask only that you share something useful with someone else if you find it here. From startup to management to franchise and more, we hope to provide you always with the most useful news and information for your business. Let’s begin:

Simple Suggestions

Learning from your peers. What better way for small business owners to learn than from others who have experienced what they have, who have “been there done that” as the saying goes? This is one of the reasons for events like the recent #BBSMBchat on Twitter. If you missed the event go to the link above for highlights.

Sandwich franchise leaves bad taste. If you think a franchise is somehow safer than starting a business from scratch, think again. Franchi

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You’re working your butt off on your site and in your business. You’re blogging, you’re building a community by establishing expertise and you’re maintaining a dynamic Web site that users want to engage with. But to complement what you’re doing on-site and in your own community, it’ time to take it off-site and start using the power of other people’s communities to help grow your own.

Below are some ways that any small business owner can attract attention, links and press by taking advantage of off-site promotional opportunities. Which ones are you already doing?

1. Sit for Interviews

As a small business owner, interviews are a great way to establish authority and introduce people to your product or service. By setting up a simple Google Alert (Remember, I love Google Alerts) it can help you stay abreast of important industry topics and conversations. Once you’re i

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As a small business owner, it can sometimes feel like you’re expected to be an expert in tax and state law. One common area of confusion and misconception is conducting business in multiple states. By law, if your company plans to conduct business in any other states than your state of incorporation (or LLC formation), then you may need to register your business in those states. This process is called .

For example…

• You have a restaurant in Florida and decide to expand into Georgia and South Carolina. Once you have locations open in those states, you’re doing business there and will need to file a foreign qualification in both Georgia and South Carolina.
• You incorporated your business as a Delaware LLC, but are physically located in New York. You’ll need to file a foreign qualification to conduct business in New York. (For th

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LINCOLN – Personal and business accessories maker A.T. Cross Co. reported “strong” second-quarter earnings on Wednesday.

A.T. Cross said profit grew to $3.15 million, or 24 cents per diluted share, from $2.71 million, or 20 cents per diluted share in the 2010 second quarter. Sales advanced to $47.77 million from $41.75 million.

“A.T. Cross delivered an outstanding first half performance. Led by the Cross Optical Group, our business grew 15 percent and our bottom line improved substantially,” said David G. Whalen, president and CEO, in a news release.

“At investor conferences we have said time and again that in terms of growth potential and return on capital our sunglass business compares favorably with any business that investors are considering. The 2011 first half performance that our optical team just delivered only strengthens the argument,” he added. Whalen also s

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WASHINGTON – Express Scripts Inc.’s takeover of Medco Health Solutions Inc. may fuel acquisitions of specialty pharmacy benefit managers by rivals seeking to gain enough size to negotiate lower prices with drugmakers.

Once the deal closes, the number of people served by St. Louis-based Express Scripts would rise by 50 percent to 135 million, based on current data, said Art Henderson, an analyst at Jefferies & Co. in Nashville, Tenn. The next biggest rival, CVS Caremark Corp., serves 85 million people.

Pharmacy services companies negotiate prices with drugmakers for employers and governments and manage worker claims. More customers give them added leverage to insist on lower prices, providing savings that may be used by the companies to reduce expenses or compete for contracts. S

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