Harrisburg Regional Chamber & CREDC represents about 900 businesses in Cumberland, Dauphin and Perry counties, ranging from Fortune 500 companies to small family-owned businesses and non-profits. I sat down with Ryan Unger, President and CEO of the Harrisburg Regional Chamber & CREDC at Cornerstone Coffeehouse in Camp Hill, one of the small businesses they represent, to record an episode of On the Menu and hear about their economic development initiatives and the work they’re doing to help businesses thrive.
Ryan started our conversation by telling me that the Chamber and Cornerstone worked together on the coffeehouse’s recent ownership transition, which helped to keep the business operational in the community.
“We wanted to keep the business in Camp Hill, keep the management here and keep the good people that make this an awesome space here,” Ryan said.
Ryan explained that CREDC, the economic development arm of the Chamber, approved a Small Business Administration (SBA) 504 loan to support the owners of Cornerstone as they transitioned to new management.
The SBA 504 loan program offers fixed-rate, long-term financing and is the perfect solution for small business purchases.
“We talk a lot about the importance of ‘third spaces’ in communities,” Ryan continued. “These are places where people can come together beyond their home and work together. Cornerstone really is that kind of hybrid place. I think a lot of people are here working, talking, socializing, and we’re proud to help that.”
Managing Cornerstone and Running a Business
General DeFoor, Ryan Unger, and Nicole Miller
As Ryan and I were talking, I noticed how busy Cornerstone was—every table was full and there was a line to the door. I realized how important this business was to the community, and how essential it is to have great owners and an organized manager to help make sure the business operates properly.
Nicole Miller, manager at Cornerstone, has been working there for nearly 15 years.
I asked Nicole, from her perspective what’s the most important thing someone needs to know if they want to run a business?
“When they own a place like this, the number one thing is to make sure that you actually like it,” Nicole said. “Customer service isn’t for everyone, but I love it. I love what I do—I’ve been here since 2010. I would say first, try it and make sure that you actually like the ins and outs of the business.”
Nicole then went on to share that this kind of work is something that she’s wanted to do since she was little.
“That was my dream in high school—to open a café. So, I started working at this one as soon as the opportunity became available to me and I realized I actually did like it.”
And, Ryan agrees with Nicole. He said if you want to start a business, you better love what you do. “If you get into it for the wrong reasons, you’re going to have a long road ahead,” he said.
From the Chamber side of things, Ryan shared that depending on the life stage of the business, CREDC can help form business plans and support in other ways.
“We have multiple opportunities through loans or grants through state programs, federal programs, our own loan monies—we just try to match them up with the best fit. We call it economic development financing. We just want to make sure the projects help the community and also help with job creation too.”
He continued, “I have such respect for entrepreneurs because it consumes them. You often hear about people taking out home equity lines of credit and putting their own personal finances out there for that dream. And we’ll try to help throughout that process to identify what’s the best path to that business.”
Financial Literacy Tips and Navigating Challenging Times
Before our conversation ended, I asked both Ryan and Nicole to share their best financial literacy tips.
Ryan went first and shared that one of the most important things businesses should do is have a solid plan in place and look ahead.
“Planning for today helps you for tomorrow,” he said. “It’s important for businesses to have a little bit of a longer-term view. People do this because they love it, so we want to make sure they can keep their dream going forward. If you want to sustain a business and you want to grow a business, you must have a really good foundation.”
Nicole then shared the importance of learning early.
“The younger you know it, the more opportunity becomes available to you. If you’re not learning these things until you’re in your 30s, you’re 10 years behind some of these entrepreneurs that are starting as soon as they graduated.”
She continued to share that you need to invest in yourself in order to grow your business.
“The sooner that you learn it, the more you understand it for yourself personally, and then the more that you can start to invest and put yourself out there financially to build a business.”
By: Tim DeFoor, Pennsylvania Auditor General