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IN THIS ISSUE:
Millennial Entrepreneurs A Rare Breed How did generation “why not?” also become generation “why risk it?” Every industry seems eager to decode the mysterious millennial
worth, young graduates have been crippled in their “ability to tap
generation, roughly defined as anyone born between the early
their own savings, draw equity from a home, or obtain bank loans
1980s and early 2000s. Millennials have been called every
to cover their startup or ongoing business costs,” states Harvard
name in the book from the “entitled” to “tech crazed” generation.
Business School’s Karen Mills.
MORRISON SNAPSHOTS
WELCOMING TWO NEW CONSULTANTS We’ve continued to grow our business as well as our staff! Morrison & Company is proud to
I love and admire my friends who post themselves skateboarding to work in skinny jeans holding organic coffee in a compostable
The pressure created by debt is a large factor in millennials’
mug on Snapchat, but the beauty of millennials is that we do not
outlook on life and how they forgo business ownership. According
all fit one mold. Millennials are comprised of unique individuals;
to Forbes, the average household debt for millennials is over
sometimes the stereotypes or “facts” of our generation apply,
$63,000.
introduce our two newest consultants, Shawn Miller and Carolyn Kanabrocki.
With these given statistics, the lack of young entrepreneurs cannot That being said, when I read the Wall Street Journal’s article
come as much of a surprise. Banks have continued to keep tight
“Endangered Species: Young U.S. Entrepreneurs,” a few points
restrictions on their lending standards for small businesses since
hit close to home. Though I’m not an entrepreneur, my 2008
the recession. The slight increases seen in small-business loans are
undergraduate class felt less than exhilarated as we entered the
typically given to established, low-risk companies.
job market during the largest economic crisis since the Great Depression. Emerging into this dreary economy seemed a
What struck me most in the article though was the label that
daunting task.
millennials lack the confidence to pursue starting a business. Too
Consultant Camille Hogan’s perspective
COLUSA FARM SHOW
on why more of her peers are not
Principals Geoff Chinnock, Toni Scott, and Brent
BUTTE COUNTY RICE GROWERS ASSOCIATION LUNCH
In February, Morrison & Company sent a team of
becoming entrepreneurs.
Morrison attended the Agricultural Council of
Morrison Consultant Carissa Shirk attended BUCRA’s
consultants to the Colusa Farm Show. We loved
California Annual Meeting, held in conjunction with
Annual Growers’ Meeting in January. Photographed
taking in the fresh air and stretching our legs while
CoBank’s Pacific West Customer Meeting. This year
from left to right are Audrey Tennis, Peter Ryström,
we toured the show. Photographed are Morrison
the event was hosted in beautiful Napa.
Vivie Ryström, Shaleen Hoff, event speaker Bob
OPEN HOUSE
& Company’s Geoff Chinnock, Tim Peters, Shawn
In
Cummings, Lance Tennis, and Carissa.
Miller, and Carolyn Kanabrocki.
celebrated an Open
AG COUNCIL MEETING
many young people are afraid to fail and create more financial Apparently, I was not alone in this feeling. The WSJ article speaks
burdens. Since we don’t all fit the same bill, I suppose we are now
of the astounding decrease in young American entrepreneurs.
known to also be doubtful and reluctant. What happened to the
Households headed by adults under age 30 owning stakes in
bold and brazen generation? However looming the data may be, I hope we bite the stereotype
households has fallen 48% since 2007. Because new companies
on this and say “challenge accepted.” Let’s marvel in those of
instigate jobs and ideas, there is large concern for business
us that have beaten the odds, triumphing in entrepreneurial
formation and America’s future.
ventures (see this issue’s article on Sohnrey Family Foods, a multi-
CCCD CONFERENCE
Millennial stereotypes include individuals who are known to be
It’s encouraging to see new budding businesses forefronted by
feisty, push limits, and crave adventure (all great attributes for
my peers. I hope other millennials continue to not only support
an entrepreneur), but are also known to be skeptical of financial
these businesses but are also inspired to take risks and churn
institutions. Financial burdens have been an uphill battle for
those creative juices we’re known for to generate something great
millennials who are typically riddled with student loans and
themselves. Morrison & Company has successfully helped several
weak economic conditions. With the decrease in family net
young entrepreneurs with their business start-ups. Please contact any of our consultants for more information.
Camille Hogan is a Morrison & Company consultant. Contact her or any member of the Morrison team to discuss grants, recruitment, special projects, and business strategy and planning.
NEW CHAIR OF BOARD The Chico Chamber of Commerce officially swore in Morrison & Company Principal Toni Scott as the 2016 Chair of the Board during the Chamber Annual Dinner. We were delighted to join the Chamber in welcoming Toni.
WWW.MORRISONCO.NET
SOHNREY FAMILY FOODS’ SPRING FARM FEST EVENT
The California Center for Cooperative Development (CCCD)
hosted
Morrison’s Jeannette Rummell is photographed with
Directors
and
her husband Raymond and Derek Sohnrey at the
Program in Fresno this year. Luis Sierra from CCCD
Spring Farm Fest hosted by Sohnrey Family Foods in
is pictured with Morrison & Company’s Carissa
April. The event had fun included for everyone with
Shirk, Toni Scott, Shawn Miller, and Brent Morrison.
the
Agricultural
Executives
we
WWW.MORRISONGRANTS.COM
well as coffee and snacks for road warriors needing
and hay. Recently, the family operation embarked on
to stretch their legs.
members.
Morrison & Company had the opportunity to assist Sohnrey Family Foods in preparing their competitive application for a Value Added Producer Grant. The grant was successfully awarded to engage Morrison
Scott’s
to roast, flavor, and package almonds grown by the
to assist the Sohnrey family with market research, a
and
Sohnrey family for sale in retail consumer packaging.
business plan, and a feasibility study to effectively
We
The Sohnreys developed some of the tastiest flavors
manage and plan for growth, with the aim of
captured some wonderful moments at the
for their almonds including Maple Bacon, Curry, and
sustainably building the business for generations to
event. The above photo is a Certificate
Balsamic Herb, among others. The almonds initially
come. We’re thankful for the chance to work with the
of Recognition from CA Senator Jim
were available exclusively through the Sohnrey Family
Sohnreys and love having their delicious almonds
Nielsen and Assemblymember James
Foods website, but the Sohnrey family quickly realized
available just down the road from us!
Gallagher, presented to Morrison &
their great idea could build into something more.
recently
promotion
principal
expanded
office.
Company at the celebration.
Late last year, Sohnrey Family Foods opened their own production facility to make their delicious
MORRISON SNAPSHOTS Winter is our busiest season for events. We love the chance to be out of the office and run into some familiar faces!
rides, a bounce house, and more!
legacy of producing almonds, rice, prunes, walnuts,
business owned by fourth and fifth generation family
Training
local vendors, delicious products, tastings, fishing, hay
and other products are available to customers, as
a new venture, launching Sohnrey Family Foods, a
Cooperative
Leadership
produced in Butte County. Olive oil, honey, prunes,
farming in Northern California and has a strong
The business began with the concept to use co-packers
our
generation family business that includes millennial leadership).
Januar y
For five generations, the Sohnrey family has been
House, honoring Toni to
private companies dropped by 7%, hitting a 17 year low at 3.6% in 2013. Additionally, the average net worth of those
LEVERAGING THE PAST FOR PROGRESS www.sohnreyfamilyfoods.com
MILLENNIAL ENTREPRENEURS A RARE BREED
other times not.
SOHNREY FAMILY FOODS:
WWW.MORRISONCO.NET
almonds themselves, joining it with a gift shop. Surrounded by rice fields and situated right off Highway 99 near Chico, California, Sohnrey Family Foods offers their own products from the location, but has also become a destination for the local bounty
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