Small Business Hawaii

Wrapping up the Small Business Hawaii conference was luncheon keynoter, Dr. John Rutledge, an economist who is chairman of Rutledge Capital, a private investment firm that has invested more than $150 million in middle market manufacturing, distribution and service companies. He also is chairman of Rutledge Research and founder of the Rutledge Institute, a forum for capital and growth policy. Rutledge, who gives lectures around the world on global economics, financial markets, investment strategies, technology and the economy, as well as how to grow your business, says Hawaii has the greatest opportunity in the world. Businesses that have survived in the hostile business climate in Hawaii can now look forward to more prosperity, as the reforms planned by Lingle's directors are put into place.

Rutledge, who serves as an economic advisor to President George W. Bush and did so during the Reagan years as well, shared his view on the reforms now taking place in Iraq, Ireland and Oklahoma, three places he's acted as a consultant.

Like Lingle, he emphasized the importance of education for both children and adults, and says technology is an important part of that education, including making sure schools are wired with high-speed access, so kids can have their eyes opened to the world around them.

Rutledge said one quick way to see what kind of economy a state or country has is to look at whether people are exported or imported and at what rate. (Hawaii lost 100,000 residents from 1990 to 2000, which is a bad sign for Hawaii.) Rutledge, a consultant in Ireland, says the country's leadership was able to stop the best and brightest from moving away by ensuring state-of-the-art communications were in every home, the economy improved, the cost of living was lowered through tax decreases, and there is better training locally. The leadership also recruited bright minds from around the world and imported them to Ireland. These are steps Hawaii also can take, he says.

He also encouraged the small business people in attendance to: Be dreamers and have faith because "you've got to be a dreamer if you are going to build anything;" Look for and be leaders with character; Know how to move capital; Work to reform the really troubling aspects of operating a business, such as workers' comp and tort reform; Know some of the most important economic activity in the world is going on in China and to pay attention to that; Take lots of chances, because it is OK to fail, and not OK to let the opportunities pass you by.

Rutledge was gracious enough to remain and spend another hour and a half with a select group of Small Business hawaii conference sponsors, Directors, awardees and members of the Lingle Administration in a one-on-one session.

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