Entrepreneurship key to job growth in Memphis say panelists at Bridges forum

They see positive, negative attributes.

Lenny's Sub Shop president Brent Alvord asked if anyone in the audience at Thursday's forum on the impact of entrepreneurship could predict the future.

Next, Alvord demonstrated to the crowd at the Bridges Center-sponsored event that he could.

Holding up his mobile phone for 50 or so business and community leaders to see, Alvord predicted that the device would be out of his hands and resting on a table in the middle of the room within five seconds.

Alvord then raced to a table, plopped the phone on it and effectively demonstrated a self-fulfilling prophecy.

"We as a city have to come together with a more positive view and make this a better place," Alvord said.

"We need to be accountable and make a conscious effort to make a difference. We can predict our own future and it's up to us to make sure that it's a bright one."

Alvord's challenge wrapped up a discussion focusing on the triumphs and challenges of the Memphis entrepreneurial ecosystem.

Held during Global Entrepreneurship Week, the event paid homage to some of the city's most renowned innovators -- such as business leader and philanthropist Robert R. Church; FedEx founder Fred Smith; and Holiday Inn founder Kemmons Wilson -- while stressing the importance of supporting new generations of entrepreneurs.

Panelists were Lisa Ansley of Wang's Restaurant; Darrell Cobbins of Universal Commercial Real Estate; Megan Jones of EmergeMemphis; and Edith Kelly-Green of Kelly Green Restaurants. Moderator was John Sylvester, owner of JMS Strategies.

"It's fitting that this conversation is happening here at Bridges, where some of the most important and collaborative work in our community takes place," Cobbins said. "The best gift you can give to young people is to let them know that greatness is expected of them. That's a message that we all need to send and encourage more of our young people to pursue entrepreneurship."

Because entrepreneurs and small businesses account for the majority of new job growth, Jones said, it's vital for city, business and community leaders to promote more of those endeavors.

"Having even one extra person in your corner can make a difference in your startup and eventually that difference could have an even bigger economic impact on the community," Jones said. "There's an undercurrent of negative perception here that we need to shed and we need to relearn that in Memphis we are good enough to make great things happen."

One way to achieve that is by offering more informational and educational resources to small business owners, Kelly-Green said. Starting out with a strong foundation means a business is more likely to survive.

"There are a lot of tentacles that go along with being a small business owner and so much to learn, from accounting to marketing to taxes," Kelly-Green said.

"Educating small business owners about all those facets of business helps them grow their companies and that creates jobs and in the end the entire community benefits."

Ansley, who said she's witnessed a number her friends leaving Memphis for entrepreneurial hotspots such as Austin, Texas, Charlotte, N.C., and even Nashville, said that the city needs to do a better job of appealing to the creative class and young entrepreneurs.

"I left to go to school and lived away for a while, but I chose to come back and work for my family's business and I'd like to see more people of my generation doing the same instead of moving away because they don't feel there are enough opportunities here," Ansley said. "There's a growing entrepreneurial community here and we need to support it and realize that we're in this together. We need to make teamwork cool and be more open about sharing our ideas."

For more on small businesses and entrepreneurship, visit The CA's startupmemphis.com

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Bridges Forum

What: Luncheon program on educational justice, featuring former University of Memphis Basketball and NBA player Elliot Perry

When: Noon to 1:30 p.m. on Jan. 19, 2012

Where: Bridges, 477 N. Fifth

Cost: $10

Details: Contact Nikki Haynes at (901) 260-3752 or send an e-mail to nhaynes@bridgesusa.org

-- James Dowd: (901) 529-2737