India is a profitable business opportunity, PM tells Korean CEOs - Daily Pioneer

Investment from South Korea is a "priority" for India, visiting Prime Minister Manmohan Singh said Monday, adding that the government was taking "proactive" steps to improve the business climate and move forward with the Posco mega steel plant project in Orissa that has been plagued by farmer protests.

"Investment from Korea is a priority for India. We will take pro-active steps to address investor grievances and improve the business climate in the country. Many states of our Union have been actively encouraging foreign investment and we will support these efforts. I urge Korean industry to have faith in India," Manmohan Singh said in his address to South Korean CEOs during his two-day official visit to this country.

"I recognize that sometimes our processes can be slow but there are effective mechanisms for resolution of problems and differences and a strong rule of law. The government is keen to move forward with the Posco project and there is some progress in this regard. I believe that India is a stable and profitable long-term investment opportunity," he told the 20 CEOs, including those of Hyundai and Samsung, who attended the meeting.

The Posco steel project, India's largest foreign investment project estimated at $12 billion, has been hobbled for years by local protests against land acquisition of over 4,000 acres in Paradip in the eastern coastal state.

The POSCO issue had figured in the joint statement issued after the Summit talks Sunday between Manmohan Singh and South Korean President Lee Myung Bak, which noted that there had been progress forward on issues like land acquisition.

This is the third time in two days that Manmohan Singh has spoken of how much India values South Korean investments.

Noting that many South Korean companies have become a household name in India, Manmohan Singh said Sunday he hoped to see many more, particularly from the medium and small sectors, setting up shop there.

"I invited Korean firms to invest in India in a big way. Companies such as LG, Hyundai and Samsung are already household names in India. We would like to see small and medium sized Korean companies also making India a base for their manufacturing," the prime minister said at a joint media interaction with President Lee after their Summit.

"I informed President Lee that India is making a huge effort in upgrading our physical infrastructure. We want Korean companies to help us realize this objective and benefit from the opportunities provided by this," Manmohan Singh added.

He again referred to the Korean companies during his speech at a lunch hosted by President Lee.

At the CEO's meeting, to illustrate why India was such an attractive investment destination, Manmohan Singh noted that the country had managed to maintain a 7 percent growth rate in the last few years and listed six fundamentals that would enable it to return to 8-10 percent growth in the coming years:

* A domestic savings rate of 33-35 percent of GDP and growing,

* A very young population, with half of the working population in its twenties,

* Heavy investments in education, health and agriculture to give a new deal to rural India. Rural markets are booming and the middle class is growing rapidly.

* Huge expansion in higher education and skills and development of ports, airports, railways, energy and roads. India is poised to continue to be a frontline player in the global knowledge economy.

* Ambitious plans for the development of physical infrastructure. Planning to secure investment of almost $1 trillion in the next five years in new projects in highways, power plants, mass transport systems, ports and airports. This will be achieved through both public and private investment and Public-Private Partnerships.

* Determined to pursue a strategy of green growth. Committed to increasing energy efficiency and the share of renewables, including solar and nuclear power, in the energy mix. There will be large business opportunities and I am aware of Korean capabilities in environmentally friendly technologies.

"Korean companies have always recognized these strengths and competitive advantages of the Indian economy. They were among the early investors to look at India as a strategic investment destination," Manmohan Singh said, adding that Hyundai has a 25 percent market share in India's domestic passenger car industry.

Noting that after the implementation of Comprehensive Economic Partnership Agreement (CEPA) on January 1, 2010, bilateral trade has surged by roughly 65 percent in two years and reached $20.6 billion in 2011, the prime minister said: "However, it is still below its huge untapped potential."

"Therefore, President Lee and I decided yesterday to revise the bilateral trade target to $40 billion by 2015. This is a challenge as well as an opportunity that we must both seize together," Manmohan Singh added.

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Open for Business: SheridanStowe LLC - Pioneer Press

John Cacich of SheridanStowe meets with administrative staff members at Dakota County Technical College in Rosemount. (Pioneer Press: Richard Marshall)

Owners: Anne Weyandt and John Cacich

Type of business: Consulting practice

Number of employees: Two

Locations: St. Paul and Oakdale

Contact Information: 612-812-5759; sheridanstowe.com

Tell us what your business does. SheridanStowe LLC offers innovative consulting and capacity-building services for educational institutions and nonprofit organizations. We offer technical assistance, coaching, grant writing and board development, and project design and management services for a variety of clients. Our particular focus is on building organizational capacity to meet the needs of learners of all ages and stages, with a specific goal to assist institutions in their efforts to increase the number of students who earn a postsecondary degree, certificate or diploma.

Why are you launching it now? We founders - Anne Weyandt and John Cacich - spent more than 25 years each in higher education in Minnesota, in leadership roles where we developed a deep understanding of the need for strategies that lead to expanded degree opportunities for students. We decided to launch SheridanStowe to share this expertise more broadly and intentionally pursue an educational reform agenda that focuses on strategy development from the "outside in," accelerating innovation that overcomes many of the organizational barriers that impede creativity and change within organizations. Addressing

the persistent achievement gap while increasing production of well-prepared and highly skilled postsecondary credential holders is an urgent challenge that our firm is eager to address.

Where did you get the idea for your business? After leaving leadership roles at Anoka Technical College in 2010 (Weyandt was the ATC president for 10 years and Cacich served as vice president for academic and student affairs), we decided to launch SheridanStowe to continue our work to expand opportunities for adult learners and to begin building a network to expand the successful K-14 educational model, STEP (the Secondary Technical Education Program), that we launched and led at the technical college. Our experience confirmed a gap in the consulting marketplace that could be addressed by a firm with expertise in both the K-12 and higher education sectors, with experience in nonprofit and governmental settings, as well as a specific focus on individual, work force and community development. SheridanStowe was launched in March 2011.

The firm is named after the elementary schools we attended - Sheridan on the east side of St. Paul (Weyandt) and Stowe in Gary-New Duluth (Cacich). We chose this name to represent the foundation and significance

Anne Weyandt is co-owner of SheridanStowe. (Pioneer Press: Richard Marshall) of accessible, quality education to us personally and professionally, as well as our firm's commitment to educational opportunity as the core of the economic and social fabric within communities.

How did you develop your business plan? The online resources offered by SCORE were a tremendous source for business planning information. We also used materials provided on the Hill Reference Library website. Kristin Pardue from Reve Consulting in Minneapolis generously provided in-kind consulting support and coaching as we wrote our business plan.

How are you financing your business? Initial start-up expenses were minimal so we were able to use personal resources. Networking with other new firms led us to exceptional freelance designers who created our marketing materials and website at a reasonable cost. We are able to finance our operating costs directly through revenues from ongoing consulting activity.

How do you see current economic conditions affecting your business? The economic uncertainty and sluggish pace of recovery makes it challenging for many educational and nonprofit organizations to invest scarce resources in capacity-building activities. Nevertheless, reductions in essential personnel are prompting increased reliance on external consultants for project design and management services. We are building the practice by demonstrating return on investment inherent in clients' creative re-engineering of existing programs and services, as well as the obvious market opportunity presented by the growing adult learner segment across Minnesota and the Upper Midwest. In addition, given the uncertainty presented by current economic conditions, many organizations are looking to external experts to design and implement a variety of project-based initiatives as a way to get work done while minimizing fixed costs for salary and benefits. We have been able to offer high-quality, short-term project design and management and evaluation services for our clients, allowing them to address essential priorities while maintaining budgetary and staffing flexibility.

What makes your business unique? SheridanStowe's unique niche is directly related to our experience and expertise. We have connections and expertise across a broad spectrum of activity: K-12 and higher education; workforce and community development; charter schools; nonprofit design and development; community outreach and public affairs; and research, technical assistance and evaluation. This breadth, matched with a passionate commitment to expanded opportunity for students of all ages and stages of experience, positions our firm as a multipurpose creative consulting firm with unparalleled experience and expertise in the educational sector.

What was the biggest obstacle you had to overcome to get this business going? Making the transition from full-time, on-site public employment to a less predictable consulting practice was challenging for us. Learning to promote and employ a more flexible work style was a priority, and, admittedly, it took some time to accomplish a new sense of balance.

How did you overcome the obstacle? We recognized the advantage inherent in the firm's flexibility and adaptability. Both of us were able to work on site with clients, providing services directly and cost-effectively at the client's location, as opposed to a more formal office location for the firm. Understanding the ebbs and flows of the school year also allows us to flexibly align services with optimal delivery times for academic clients, adjusting work schedules to meet institutional needs. By continuously focusing on flexible delivery, we were able to overcome the initial uncertainty presented by owning a small business and developing a multifaceted consulting practice.

What will tell you the business is successful? SheridanStowe will achieve success when the state of Minnesota begins to see a steady increase in the number of adults who obtain a postsecondary credential. Economists and experts tell us that number needs to increase by 30 percent in the next six years. Our firm's goal is to help our clients build the capacity to positively impact this credentials gap through new programming; re-engineered delivery systems; new partnerships between K-12, higher education and the business/industry sector; and expanded public awareness of the need for a better-prepared work force. Minnesota's long-term economic vitality depends on work of this type and SheridanStowe is excited to be a part of it.

On a personal note, we both expect SheridanStowe to generate work and income sufficient to support ongoing self-employment in areas of continuing personal and professional interest where overcoming the policy and practice challenges faced by potential clients represents significant progress toward increasing educational success for more and more Minnesotans.

Interested in taking part in Open for Business? If your business is less than one year old, email us at businessnews@pioneerpress.com.

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