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What you need to know for 01/22/2018

For the good of Amsterdam

For the good of Amsterdam

Editorial: 'Angels' looking out for their native city with entrepreneurship plan

It would be great if places like Amsterdam were able to land big job producers like the carpet industry again. It’s also very unlikely. Most of the future jobs there and in other small cities are going to come from small businesses starting and expanding, something that’s more likely to happen now in Amsterdam thanks to an altruistic venture launched by three businessmen with ties to the city.

Gary Brown, Sam Palozzole and Bob Quick know what it takes to create a successful business, because they have all done so — a number of times. And now, as wealthy elder statesmen, they want to help the community where they grew up and went to school, and where one of them, Quick, still lives.

They want to do it by supplying the tools entrepreneurs need to succeed, and many find hard to get: advice, mentoring, operational support, affordable space (in a business incubator) and, perhaps most important, capital investment.

This is the kind of help that the more well-known Walter Robb has given a number of fortunate small businesses in the Capital Region over the years, but the three are formalizing it as partners in Enterprise Amsterdam NY.

Although they will be offering financing to those who can’t get it through traditional means, they’re not interested in losing money. So they are looking for the best ideas, through the request-for-proposal process.

Investors who provide capital to help entrepreneurs start businesses are called “angels.” But if these guys are doing it not to make money themselves but simply to bring as many jobs as possible to Amsterdam, as it appears, then they are truly angels.

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