PHOTO: May 25, 2004 cover
A 2004 COVER STORY entitled “The Great Divide” detailed Louisiana’s need for capital to support entrepreneurship. The challenges then aren’t all that much different from those the state faces today. A report just released by PricewaterhouseCoopers and the National Venture Capital Association indicates the state ranks No. 152 out of 160 metropolitan areas nationwide for total venture capital invested.
“DOING SOMETHING ABOUT the lack of seed capital is a rallying point for the business community in Baton Rouge. The reason? Failing to get it often stops would-be entrepreneurs dead in their tracks. Without a local pipeline, entrepreneurs with the brightest ideas in science and software are likely to leave Baton Rouge or fall short on ventures that could have hit it big. And it’s not just the money that’s missing. Too many entrepreneurs are clueless about the rules of the seed-money game, expecting investors to hand over cash with no strings attached.”
—From the May 25, 2004, edition of Business Report
+ ALSO FROM THAT ISSUE
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BACK WHEN $2 GAS WAS A BURDEN: “Ronnie Hernandez is thinking about doing something he hasn’t done in years: raising prices on his lawn care customers. Buying gasoline at $2 or more per gallon mows into the profits of Baton Rouge Landscape & Maintenance Co., Hernandez says. Even though he buys from Sam’s Club, his monthly gasoline bill has climbed to $700, up from $400.”
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KNOW WHEN TO HOLD ‘EM: “Outside of Survivor and American Idol, the hottest contest in America may be a card game called No Limit Texas Hold’em, poker’s highest-octane variant. It’s also illegal. As it turns out, the hottest fad going in local bars is considered gambling under the law. Playing at home is unlikely to get you in trouble, but club owners risk fines and having their liquor licenses suspended or even revoked.”
