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(upbeat music) (upbeat music) - [Narrator] "It's Your Business" with Michael Aikens is brought to you by WCTE PBS and the Center for Rural Innovation with funding provided by a grant from USDA Rural Development.

This series was produced under an agreement with Tennessee Tech University Center for Rural Innovation.

(upbeat music) - Welcome to "It's your Business".

I'm your host, Michael Aikens.

If you have a business idea that you believe strongly in, but are just afraid of the unknown, this show will help you see that there are plenty of opportunities as well as resources available, help bring your ideas to life.

We'll be meeting with inspired small business owners who face their fears and took the steps necessary to launch their business, while also inspiring those around them.

Join me as we learn how to make the move from ideas to action and the world of entrepreneurship and small business.

(cheerful music) Carol Abney is a certified public accountant in Clay County, whose mission goes beyond her business.

Carol has consistently invested time, energy, and resources into building a sustainable trajectory of rural development in her hometown of Celina, Tennessee.

I sat down with Carol to discuss her journey, her thoughts on rural development, entrepreneurship and the future of Clay County.

(lighthearted guitar music) - I'm in Celina, Tennessee with Carol Abney owner of Abney CPA, Carol, welcome to the show.

- Thanks for having me.

- So we've got so much to talk about today.

Let's start out with your business.

What is Abney CPA and what do you do?

- So my ad say, any advice or tax services that you need, that's what I provide.

It took me a long time, to get through school and pass the CPA exams, and one of the things that I always said when I was going to school was that I wanted to help people.

And so, I feel like I picked the best way to do that with my accounting experience.

- Before the interview, you were talking about your school and you went a little bit late, how did you decide that?

Not only did you wanna start a business, you've gotta have that accounting degree to do it.

And you did a little bit later in life, walk us through that journey.

- So when I was in fifth grade, I wanted to be a lawyer and I got out of high school and didn't get to go to college the way I wanted to, and as I got older, I realized that lawyers spend a lot of time with people that are having a bad day.

(chuckles) So, I ended up being in business and doing more of the accounting work for my husband.

So, when I went back to school, I wanted to go for business instead of...

I'm so glad I feel like I'm in the place that I'm supposed to be so... And when you're going to school and you take all those exams and you become a CPA, you've got just a couple of options.

You can move to a big city, work for a large firm, or you can stay in a small town and work with the community.

And I have no intention of leaving Celina.

I love Celina.

It's always been amazing to be here.

As you can see, we have beautiful lakes and parks and...

So I never wanted to leave.

So I just stayed and started my own business.

- So, what do you think is so important about being in Celina?

So, you said that you enjoy being here, you love it here, but I would say that you probably also feel that it's very important for your business to be here in Celina.

Can you walk me through that?

- It is, so, especially while I was going to college, I realized that we need people to be invested in small towns.

And I grew up about 30 minutes out of Celina it's more like 10 or 15 minutes now, but back then we didn't have roads to get to town.

So, we came to town once a week, but as I got more involved in the community, I realized that a lot of people leave because of the economy.

It's hard to find a job here.

Good jobs are really hard to find.

And so, I actually wrote an essay to get a scholarship from the Women's Club when I was at Tech, when I first went, I think it was in 2012.

And I told them I wanted to go to college because I wanted to give back to my community and I mean that.

- In the Upper Cumberland, what do you think the outlook for rural entrepreneurship is moving forward?

- I'm hopeful.

I'm very hopeful.

I think that we are doing better at putting remote people to work, especially lately with the COVID the way it's been and so many people had to work from home.

It's really opened up some doors.

We can have people that work from home, make a good annual income and get to enjoy all the amenities of being in Rural Tennessee.

I think helping create that attachment for the community is important.

And I could see that back then when I was going to college.

So, I've been trying to volunteer and serve on boards and Celina and help people say that, we can have the best of both worlds.

We can keep our culture, we can keep our small town the way it is, keep all of our beautiful land resources and water resources, and still have people that make a good living here.

- So you think giving back is important to the community?

- Yes.

- Tell us a little bit more about that?

- So my grandmother raised me and she always volunteered.

I actually, I wish I had that with me, but I found a certificate that she had gotten from UCHRA.

That gives me a chill a little bit.

My grandmother died in 2002 at 86.

And the volunteer certificate said it was for her exceptional service and I think it was for like 1971 or something.

And she's always, every time somebody passed away, she would take food or their house and we go visit the neighbors and if somebody got sick, we'd go clean their house.

And she was a midwife when she was younger.

And so she's always lived a life of service.

And she was a devout church of cross goer at Rock Springs, which is well known.

It's one of the oldest congregations in the United States.

And she taught me that.

She taught me, you get what you give basically.

And that's how I live.

- And I would say that that's not just inherent in the accounting business that's for all small businesses, right?

So, going back to advice, what advice would you give to our viewers?

Our viewers are typically small business owners entrepreneurs, many of them are maybe thinking about starting a business, but just haven't taken that leap.

What would you tell them?

- Create a business plan?

(chuckles) I know that sounds very dry because I'm a CPA, but at the same time, if you'll write down your ideas and so you have to have the vision to understand that you can make a business successful.

For instance, I have people that come and ask me, well, I wanna start this business in Celina, but we only have 1100 people in Celina and I said we have millions of people.

We have the internet.

Like we have free advertising on social media.

There are so many innovative ways that you can start a business.

- In thinking about the future.

What is the future of business and rural entrepreneurship here in the Upper Cumberland?

- I feel like, we have a whole new world that has opened up for us in Rural Tennessee because of the remote work, the virtual meetings...

So many times things happen in Nashville and you have to drive down there to get to a meeting, and now you can have it in your living room.

And so, one of the things that I love the shared workspace that having Cookeville, we've talked about doing that here in Celina.

I think that getting the Chamber of Commerce and the city of Celina and Clay County on board, and they are all very willing to promote our area is, come live here and enjoy everything we have and find a remote job.

I think promoting our area is one of the main things we need to do right now.

And I see it expanding tremendously because I mean, I always say that the Dale Hollow Lake is a hidden gem of the Upper Cumberland.

Like it's amazing, visibility is like 10 feet, you can't go anywhere and find that.

And it's right in our backyard.

So, we were actually doing some things down here in town that will help draw some people and I'm excited about it.

We used to say that you couldn't really depend on tourism because you didn't know if they were gonna come or not.

We've changed the way we think.

Now we look at it like we know we have tourism, we just wanna make more.

So plus we wanna also preserve the way we live here.

Like we don't wanna turn into a a big commercial Gatlinburg.

We love the way we live here, but I think we have an opportunity to really expand on what we have here- - You said something interesting a moment ago about, it's really a balance between you don't want to turn into a Gatlinburg, but you need those tourism dollars.

So again, it's a balance.

I read an article the other day about social sustainability, bouncing basically social life and residents against tourists, and also the environmental impact.

How do we keep that balance is as Clay County starts to grow?

- I think we need to be acutely aware of protecting our resources.

The people that stay here, it's a, trade-off, we trade off more money in a big city and more access to amenities to stay here and enjoy life here.

So, and we know what's important here.

We know the community and the natural resources and the landscape and, the wooded areas.

So, I think we have to be, diligent about protecting all those resources and at the same time, be aware that when we ask people to come here, that they understand that we're working hard to protect those resources.

- Carol, we really appreciate you being on the show.

Thank you so much for your insights.

- Thank you, Michael for having me.

(lighthearted guitar music) - When you're able to turn your passion into a business, it makes the journey to entrepreneurship so much sweeter.

Heather and Robert McClellan have brought Heather's passion for fabrics to Downtown Crossville with their store, The Yarn Patch.

But their interest doesn't stop there, they are eager to pass along their knowledge, as well as help others see how enjoyable the world of fabric truly can be.

(upbeat guitar music) I'm here on Main Street in Crossville, Tennessee with entrepreneurs, Heather and Robert McClellan.

Y'all welcome to the show.

- Thank you.

- Thanks for having us.

- So we've got so much to talk about today.

First things first, let's talk about your all's business.

We're here at The Yarn Patch.

What was the inspiration to get it started?

And what do you all do here?

- Well, we sell yarn and we also teach a crocheting, knitting, a weaving and spinning here.

And we also kind of build a community.

We have knitters and crocheters that come and hang out, which is kinda the best part about the business in some ways.

Before I bought this business, I always in my spare time would knit and crochet.

So, I love yarn.

(chuckles) I love what you can do with yarn.

I love that you can make friends and build community with this hobby.

I got an email from the previous owner of this store that said, have you ever thought about having a yarn store?

And it was like, yeah.

(laughs) So, and it was funny because she was right next door to the log cabin gift shop that my grandparents used to own.

And I was like, well, strange serendipity.

So we checked it out and talked and the price was right.

So we ended up jumping in here.

- You all have very complimentary skillsets.

I mean, you're a marketer, you're a former accountant, that's really the skills that you need to run a business.

Could you tell us a little bit more about the dynamic between the two of you I'll run in this business?

- So it's my baby, but my husband is super supportive.

He's got the day job that pays the bills, but he, in his spare time, (chuckles) we'll do my marketing, on Facebook and things like that.

So it's really great to have him.

- So, this is not just a business?

You all have really made an impact in Crossville.

Tell us a little bit about the building here?

- Well, the building was sort of the part of the original vision.

So when we first looked at owning a yarn store, I wanted to be in a small town in Tennessee.

And so many of the small towns around our state have been allowed to die and have big box stores and pull all the businesses that are Downtown, so, it really was part of the original vision.

So when we bought this store, it was on Peavine Road.

And while it was high traffic and led to a more affluent part of our overall market, there it just didn't have the same field from what we had envisioned us, how do we fit into a community?

So when we saw that this building was for sale, we made an offer.

And then we started the process of renovating and here we are in a hundred year old building Downtown.

- So what does that really do?

And for the town, for you all to come in and make this type of investment?

- Well, I definitely think it's appreciated to have more storefronts Downtown, like Kahoots welcomed us to the neighborhood when we moved in and she was like, it's great to actually have shopping and stuff.

It helps because the more draw there is Downtown, the more reason to come, the more people you get, so... - And from our groups that come, Tuesday morning groups, Saturdays, or Fridays or whatever, they'll make a trip out of it.

Whereas before we were just the destination.

So maybe someone sees our billboard on the freeway and it prompts them to come, or maybe they're a regular, but then after they've knit for awhile, they'll go have coffee across the street, or they'll go around the corner to the pool house, or they'll ask us, where's the best place in town to eat.

- So, you've mentioned community a couple of times, you came from California to Knoxville and then ultimately settled in Crossville, which is of course, a rural community in our Upper Cumberland Region.

What do you think the future outlook for business is in rural areas?

- I mean, that's kind of a scary question because if we don't start focusing on buying local, then everything's gonna be an Amazon world and you won't be able to come to a yarn store and feel it and touch it and see the colors because it's all gonna be online.

Some people come in here and they look at the yarn and they say, oh great, now I can go online and buy it.

And if they don't buy it from us, well, that doesn't pay our bills, that doesn't keep our doors open.

So, I think there is a little bit of a push for people to buy local and support the local communities.

So, if that gets to be bigger then I think we can have more people having stores and especially like we are a niche market.

So if you can find a good niche.

So I think there's two roads that this could take and hopefully the one will leave room.

- So as a marketer, how do we get the word out about buying local?

- I think that the, the efforts that we're doing, like shop local campaigns in that are great.

The secret is gonna be, how do we influence the next generation?

So, it's always exciting when we see younger people come in knitting and spinning and weaving.

These are crafts that have long, long histories.

They've always been passed down from generation to generation.

So it's, important to keep that growing and that applies in other industries and other fields as well.

If we have couple of generations now that are used to being able to shop online and not have human interaction.

And now you can just text it, and like I said, I think our communities are worse for it.

And so how do we get that going and have hangout places?

And all the things that bring people together and make them feel connected.

- We get a lot of people that come in here and they say, oh, my local yarn store closed.

And when their store closes, they realize, oh, we need to support them.

So that unfortunately does open people's eyes that you do need to shop local.

- So, we've talked about entrepreneurs and small business owners, what they can do.

Could you speak a little bit more to the legislators and the public figures?

What can they do to help spur rural entrepreneurship?

- They need to change their expectations.

The tendency for an elected person is to say, oh, I brought 600 jobs.

And to go after these big projects, which when they die and many times they do, they take all those jobs back out of the community and all your work gets hollowed out.

So, for communities like Crossville, it would be really nice to see them focused on getting 60 businesses that employ 10 people over one business that employs 600.

If that mindset doesn't change, you will see small towns continue to struggle.

The one thing that's happening in this new post pandemic is that as people figure out that they can work from other places, they can start making family and values decisions that are a little different than just the dollars.

The kinds of support we need is not some buy local campaign, but infrastructure, support, broadband, things like that, that give you that level of the playing field.

- Now, you mentioned earlier, having more shopping space, places that people can go, this show is all about talking directly to small business owners, entrepreneurs, and it also speaks directly to people that are thinking about starting a business, but maybe haven't just made that leap yet.

What would you say to those people?

- When I bought the store, I didn't have any retail experience, other than being a shopper, having the business background and having good resources that I can draw on, I was able to really quickly get what I needed to figure it out and make it work.

It's my passion.

So, I understand the product I'm selling and I it's a niche that not a lot of people are in.

So, if you find the right place, you find something you love, you can get the information you need and make it.

- Another key is to have realistic expectations and to sort of do a values assessment ahead of time, we were in a little tiny yarn store in a tourist town in Baddeck Nova Scotia.

And the lady, had sort of left the corporate world many, many years ago.

And she said, no, if this is your passion and you rethink your finances, you're not ever gonna get rich doing this, but you'll have a great life.

And that was sort of what we started to thinking.

Hmm, she might be onto something.

- Heather and Robert, thank you so much for being on the show.

It's been a pleasure.

- Thanks for having us.

- Thanks for having us (cheerful music) (upbeat music) - I'm Megan Choate Director of Economic Development at the Upper Cumberland Development District.

Our team's mission, is to serve the needs of the region's businesses to help ensure the upper Cumberland economy continues to grow and thrive.

We strive to accomplish this by providing community development, technical support, and financial support for our small businesses.

Finding the right funding partner for your company is a critical component in the success of your small business, whether it be the startup expenses, cashflow needs, or financing an expansion project, you need the right funding partner.

One of our objectives at the upper Cumberland Development District is to help you connect with that partner.

The small business development center arm of our operation has a network of lending institutions across the state and nation that can provide a variety of funding supports, including accounts receivable, financing, federally guaranteed loans, economic injury loans, traditional loans, and more.

When none of these sources fit your needs, The Upper Cumberland Development District is here to step in and fill the gap in financing your project.

We operate revolving loan fund in-house to provide gap financing for small businesses in the Upper Cumberland.

We are able to land to almost any type of business from the pet groomers to the large manufacturers.

Our loans typically range in size up to around $300,000 and can be combined with loans from other financing institutions.

These loans can be applied for through the Upper Cumberland Development District, where our staff will walk with you through the application process and partner you with the small business development center team for support documents, such as business plans, financial statements, and projections.

Several years ago, we identified a need among startup businesses for a micro loan program.

This program is designed to allow us to take on more risk and make less secured loans to businesses just starting or in their first year of operation.

When traditional financing is most challenging, our micro loan program has a separate and dedicated committee comprised of regional representatives who advocate for small businesses and their success.

To be eligible for the micro loan program, a business must work with a Small Business Development Center or the Biz Foundry, our entrepreneurial partners for technical support.

By pairing financial support and technical support, our goal is to create the strongest position for your business to succeed.

The Upper Cumberland Development District also manages a small farm loan program funded by the state of Tennessee Department of Agriculture.

These loans up to $25,000 can be used for a variety of farm equipment and facilities.

No matter your need, we will work with you in a holistic approach to find your financing solutions through our programs, as well as programs across the state and nation.

Business development is our passion and we want to help you start or grow your small business.

Contact us and let us be a part of your businesses development.

(upbeat music) - My name is David Allen, and I'm the President of the Tennessee Rural Development Fund.

Our purpose in life primarily is just to serve as a vehicle or a conduit for financial resources, products, and services, and supportive community and economic development across the state, as well as helping small businesses.

The way we do this is two fold.

First of all, a lot of folks, they call into our office, talk to us about what their needs are financially for their businesses or for their projects and if we're able to help them directly, we do.

But if not, a lot of times what we do is we just, we pair them up with other resources that are available.

A lot of folks don't have the knowledge of what's available with SBA or with HUD, or what is a Business and Industry Loan Guarantee through a USDA or what is a TIF or how can we structure this deal?

And we try to put them with the folks that are the professionals that have access to these resources that can help them with their projects.

The second area that we add value is, as a Community Development Financial Institution.

We're certified by the United States Treasury Department as a CDFI or a Community Development Financial Institution, and what that does, is that allows us to bring additional incentives and resources into partner with other financial institutions like your banks, to further support economic and community development.

It helps our banks with their community reinvestment add points in credits as well as some tax incentives and other credits that they're able to take advantage of to reward them for investing in our local communities and our economies.

They already do this, but this helps us even more so with projects that might need a little bit more help or projects that many little help with the cash flow or it could be any number of things, but it allows the banks to participate even more than they're able to normally through the use of some of these incentives that are only available through CDFI.

So, we work with them to provide financing to industries across the spectrum.

We deal in health care, we deal in manufacturing distribution, we've dealt in retail.

There's really no project necessarily that's too large, no project is too small.

Really and truly, it's just finding unique ways to take the resources that we have to try to provide attractive financing measures and to make things happen within companies within our region, within our state, to help them to be more successful so that they can reinvest more back into our community and our state reinvest more back into the people that are working for them, and again, at the end of the day, it's just to improve the overall quality of life in our communities, across our state.

And we believe that it's a great tool to be able to do that and we're very fortunate to be able to just participate.

(upbeat music) - Thanks for tuning in to "It's Your Business".

For more information on today's topics and extended interviews, please visit the WCTE website.

To learn more about free small business resources and expert assistance, visit the business resource collective website.

Until next time, I'm Michael Aikens.

(upbeat music) (bouncy piano music) (upbeat music) - [Narrator] "It's Your Business" with Michael Aikens is brought to you by WCTE PBS and the Center for Rural Innovation with funding provided by a grant from USDA Rural Development.

This series was produced under an agreement with Tennessee Tech University Center for Rural Innovation.

(upbeat music) (cheerful music) - [Announcer] This program was made possible by contributions to your PBS station from viewers like you.

Thank you.

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