From the Director:  Igniting SMEs

After two years of exploring many possible activities and many connections with those in the BAM movement, the Center is focusing on a few key areas that seem to offer the most leverage in helping disadvantaged people through business. We are focusing on a comprehensive approach to starting and expanding small to medium-sized enterprises (SMEs) in developing countries.

We chose SMEs, rather than microenterprise (MED), because SMEs are the engine of economic growth in every developed country, yet they have not received as much attention as MEDs. We chose a comprehensive model—training, funding, mentoring, consulting, market access—because most developing countries lack the business infrastructure and business-friendly policies and laws that would enable SMEs to start and flourish naturally. SMEs need help on many fronts.

The Center is researching best practices to start and grow SMEs. We are helping SME training and development organizations that have a vision to scale their efforts to reach millions with the practices and connections that will enable them to reach their goals. We are working with a few key players who want to revolutionize the financial markets to channel the resources of Christian donors and investors to kingdom businesses in developing countries.

Because this comprehensive approach has not been fully tested, the Center has launched a demonstration project in Ukraine in order to field test and hone the concept. We will take a team of ten to Ukraine to launch an entrepreneurship center in Ternopil, Ukraine. We have engaged Ivan Papish, a Ukrainian businessman, to run that Center and our efforts throughout Ukraine.

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Influence of RCE and Kingdom Business Expands into Ukraine

The October 15 – 22 Business Missions trip to Ukraine promises to create a lasting impact. Plans have come together for a team comprised of RCE staff, Regent alumni, U.S. executives, and Ukrainian nationals to work together in Kiev and Ternopil, Ukraine to strategically and intentionally work with others to transform that nation through kingdom business initiatives.

The team will be active in developing and building upon strategic relationships in Ukraine. Team Ukraine will meet with as many as 200 business people and government leaders in Ukraine as they visit local businesses, conduct Kingdom Business training sessions, launch their own Center for Entrepreneurship, and do one-on-one consulting! Interestingly, five Regent alumni make up half of Team Ukraine. Thank you, Regent alumni!

"We must be global Christians with a global vision
because our God is a global God." —John Stott

For more information on how you can be a part of the next expedition, please contact Russ Wendell at RCE. Everyone with a heart and passion for business as mission is welcome!

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International Entrepreneurship Conference

Dr. Jeremiah Koshal and Dr. John Mulford have written a paper being presented at the McGill International Entrepreneurship Conference this week. This conference is designed to bring together leading-edge views of academic scholars and insightful practitioners from the fields of international business and entrepreneurship, in order to examine the influential forces, consequent changes and the dominant patterns which will shape international entrepreneurship over the next decade.

Dr. Koshal is presenting the paper entitled The Role and Impact of Small and Medium Enterprises (SME’s) in the Fight Against Corruption in Developing Countries. Mulford and Koshal argue that developing countries are poor because they lack a robust SME sector, the engine for economic development in any economy, and the number one reason for a weak SME sector is corruption.

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Christian Business Faculty Association (CBFA) Annual Conference

John Mulford will present the paper he and Dr. Jeremiah Koshal developed from the Symposium the Center hosted in May, at the CBFA Annual Conference in Seattle, on October 6. The paper is entitled Best Practices for Starting Small and Medium Sized Enterprises (SMEs) in Developing Countries.

One of our primary goals at the Center is to share our research about business as mission (BAM) with practitioners and academics in order to provide a solid research foundation to guide the rapid expansion of the BAM movement. The CBFA provides an ideal outlet in that it draws several hundred Christian business faculty who are interested in integrating their Christian worldview and faith into their college teaching.

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Biblical Entrepreneurs' Conference

Participants were enriched, inspired and challenged at the one day BE conference held at Regent University's Washington DC campus on Saturday September 22, by Nehemiah Project International Ministries (NPIM) - a partner of RCE. The keynote speaker was RCE Director Dr. John Mulford, who led a thought-provoking session on Kingdom Entrepreneurs Changing Their World. NPIM was blessed with dynamic speakers sharing on many topics, including how to finance business and strategic planning God's way.

This one day conference was part of a special week of events providing educational and networking opportunities for Biblical Entrepreneurs and individuals desiring to start and operate their own business from a biblical perspective. A highlight of the conference was the youth session: young people from various churches took part for the first time and made their segment a total success.
Full story...

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La Red and RCE Join Forces to Promote Biblical Values

The La Red Business Network hosted RCE representatives Russ Wendell, Jeremiah Koshal, John C. Rajan and Wes R. Stewart, along with many other influential entrepreneurs and business owners from across the country, for training at their Berlin, OH headquarters in July 2007. La Red’s goal is to train business and political leaders to implement biblical values and principles into their organizations to create a deep, core level change on society, and their "plain glass" approach has proven successful both locally and globally. RCE and La Red plan to work together to evaluate, document and communicate how God is using La Red and 42 biblical principles to truly transform nations.

Now the RCE has four certified La Red field representatives further equipped to impact the world of business with value based organizational development strategies. The La Red program guides organizations to implement biblical principles and is a great refresher course for even the most seasoned Christian leaders. Full story...

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Students Building Bridges for Orphans' Future

Regent Students in Free Enterprise (SIFE) Co-Managing Directors Feyisara Alayande and Simisola Komolafe, along with Sam Walton Fellow Dr. Shauna Tonkin, traveled to Ukraine in early September to implement an internship and life skills training program for Ukrainian orphans currently under the supervision of Orphan’s Promise, an affiliate of CBN’s Operation Blessing.

Regent SIFE successfully established contacts with business owners like Iryna, CEO of Shvydko, a popular fast food chain in Kiev, who was interested in assisting the orphans. The Regent Center for Entrepreneurship (RCE), CBN’s Orphan’s Promise Training Center, and Shvydko will partner with Regent SIFE to implement an internship program for the orphans, equipping them with the tools and training needed to transition from the orphanage into independent living.

Full story...

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Moving Ahead with Franchising

Franchising not only fuels economic growth, but also effectively and efficiently boosts the creation and growth of small and medium-sized enterprises. Franchising has become a popular means for rapid organizational growth, and is the fastest growing sector of the U.S. economy. Starting with the fast food industry, franchises are now found in a variety of industries ranging from auto repair to day care. Companies considering moving into new territory must first determine if their products and services are acceptable there.

Every country has different customs, culture, language(s) and laws, making each cross-border expansion a unique and challenging option. Second, they must identify a well-known partner that is socially and economically appropriate. Finally, they must have the ability to transfer knowledge and to provide support and necessary systems to franchisees. With a proven track record, it’s no wonder the franchise sector is expanding rapidly and extending its reach around the world.

RCE graduate assistant John C. Rajan is currently doing research on franchising across the globe.

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Nation in Focus: Peru

A history of dramatic governmental shifts and militant turmoil has plagued Peru for centuries. With the reestablishment of democratic governance in 1980, Peru began an uphill climb in its developmental standing. Although a constitutional republic, Peru continued to fight insurgencies from local guerilla factions who renounced the governmental status of the nation.

In 1990 Alberto Fujimori was elected president and ushered in a dynamic shift in the country’s economy and effective strategies for handling insurgencies. Current president Alan Garcia has promised to realign economic strategies and increase focus on social conditions.

Peru has an economy that is ripe for development with many prospects in various industries which include oil and natural gas, various minerals, textiles, and agricultural products. The nation has major import and export partners such as the United State, China, and Brazil which foreshadows the countries increasing economic stability. See our next issue of Global News for a story on Regent's School of Global Leadership and Entrepreneurship training young entrepreneurs in Peru!

(Source: www.cia.gov) For more information on doing business in Peru, check out this World Bank website.

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Did you know...  The Importance of Small and Medium-sized Enterprises

Did you know SME’s are the engine of economic growth and development in virtually every country around the world? SME’s comprise more than 90% of all enterprises (95% in OECD countries), account for 50-60% of total employment, and are responsible for between 60 to 70 percent of net job creations.

Further, the growth of the Japanese economy was centered on SME’s, which comprised 99 percent of all firms in the country and employed 75 percent of the working population. In Taiwan, SME’s constituted about 96 percent of business establishments, which employed 78 percent of the total workforce. And in South Korea, more than 70 percent of all employees work in the SME sector (Pistrui, Huang, Oksoy, Zhao & Welsch, 1999).

The role of SME's in developing nations is a critical one, because of the key influence they have on employment and economic growth.

John Mulford and Jeremiah Koshal have written a paper on this subject which is being presented at the McGill International Entrepreneurship Conference September 28, 2007 at UCLA.

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On a Personal Note... Wedding Bells Ring!

Congratulations to Mr. and Mrs. Wesley and Amy Stewart! Wes, graduate assistant at RCE, took his lovely bride to Ireland for their honeymoon after their wedding on September 8th in Maryland.

Congratulations to Mr. and Mrs. Samuel and Manika Shrestha upon their wedding as well! Manika, former graduate assistant at RCE, was married to Samuel in a Christian Nepali ceremony on August 25th in Colorado.

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Pray With Us

Thank you for joining us in praying for the work of the Center, and for others doing work in the area of Kingdom Business.
Read our prayer requests.

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