Kydd Group president Karen Kydd named entrepreneur of the year by MEDA
Winner notes woes of minority business

By Jim Buchta
Star Tribune Staff Writer

Karen Kydd, president of the Kydd Group, was named 1999 entrepreneur of the year Wednesday by the Metropolitan Economic Development Association (MEDA) at its annual meeting in Minneapolis.

Kydd delivered an impassioned speech to more than 600 of her peers about what it's like to be a minority business owner in Minnesota.

She said that finding skilled employees and providing more services for less money to clients are among the key challenges she's faced since founding her events marketing and promotions agency 11 years ago. Many prospective employees expect high wages, flex time and other benefits, but at the same time lack loyalty, she said.

"We're being squeezed by our customers and our employees," she said. "We are rapidly becoming a society of mediocrity and we are about to lose one of our nation treasures; our entrepreneurs." Kydd also implored MEDA's Minnesota Minority Supplier Development Council to make a greater commitment to hiring and providing contracts to minority-owned businesses. The council helps minority businesses like the Kydd Group find business opportunities, network with other companies and access financing.

Kydd said that five years ago she was forced to begin soliciting national clients because the local market wasn't generating enough business for her. There aren't enough local companies that work with minority enterprisers, she said. I would not be in business today if I didn't {secure national contracts}," she said

The 13-person firm, located in the Warehouse District in Minneapolis, has contracts with several national companies, including Cadillac, General Motors Corp. and Miller Brewing Co. It was recently hired by Dunwoody Institute in Minneapolis to develop a marketing and communications plan to attract more female and minority students.

MEDA members include big corporations and minority-owned businesses that work together to create strong minority businesses and economically empowered and self-sufficient minority communities.

Keynote speaker for the event was Jim Campbell, Norwest chairman and CEO, who stressed that even though the business community is constantly changing, businesses must maintain their commitment to community organizations such as MEDA. "Our success is totally dependent on the health of our community," he said.

Awards were also given to volunteers of the year, Jonathan Asner of Faegre & Benson; Dee Gaeddert, Personnel Decisions International, and John Watson, formerly of Select Comfort.

Honeywell International Inc. was named corporation of the year.