By Rosemary Ford and Caitlin Agnew
This article has been edited for length and clarity.
According to the U.S. Small Business Administration, about 97% of New Hampshire's businesses are small businesses that together employ nearly half of the state's private-sector workforce. A relatively new annual event, Launch 603, brings key startup resources into one space for a half-day of learning and connecting, while also recognizing some of the leading startups in the state. To talk about Launch 603 is Matt Mowry, co-publisher and executive editor of Business NH Magazine.
Melanie Plenda:
The 2025 Launch 603, which took place on Oct. 28, was the second time that you have brought together startups and key service providers. What inspired you to go from writing about startups to creating this event?
Matt Mowry:
We saw an explosion of startups during the pandemic. It was “The Great Reassessment.” People were stuck at home, and they were wondering, “Is this really what I want from my life?” For some, that meant changing jobs, some for changing careers, and for others, it was taking control of their own destiny and finally starting that new business.
One of the things that I was commonly hearing from these startups as they moved along is that they didn't realize the resources that we had here in New Hampshire that were either free or low-cost, that could provide them with everything from funding to coaching. So we started producing a guide for startups in our July issue, which is our Business Resource Directory. It's chock full of great information and statistics about the state for businesses. We thought that was a perfect place to put our startup guide, and it received such a phenomenal response, we thought, “Let's take this rich learning we're providing out of the magazine and put it into the real world, where people can interact with these experts and ask questions and have just a full day learning experience that they can emerge from to move their startups to the next level.”
Melanie Plenda:
You had as one of your featured speakers, Brian Gottlob, director of the Economic and Labor Market Information Bureau. When startups are often at the mom-and-pop stage, how important is it to understand the labor market?
Matt Mowry:
Well, it's one aspect of the economy, and even if you don't have employees, it's good to understand what your customers are going through and what those indicators mean for the economy. Brian's a well -known economist in our state, and he offers an overall look at the economy of New Hampshire to really give some context to our startups about what they're going to be facing in the coming year.
We're entering a stage of economic uncertainty that's going to be a challenge for any business, but particularly for startups who are vulnerable, who don't have the history, the capital and the customer base built quite yet. So we want to give them all the arsenal that they can have at their disposal and Brian's helped set the table for our discussion for the day.
Melanie Plenda:
What about New Hampshire’s business climate makes it a good place to launch a startup?
Matt Mowry:
One is access to people. You have access to things like the Small Business Administration and the Small Business Development Center, SCORE. There's a lot of organizations, and some of them are national, but here in New Hampshire it's very easy to get in touch with them, to get access to experts. We're a state where you can have access to our leaders. If you're having a problem, it's easy to reach out and find someone that can help you solve it. So I think that's one of the really key advantages that we have here in New Hampshire.
That isn't to say we aren't without challenges but we do have a rich startup culture. We;re ranked 13th overall, according to U.S. News and World Report, for business creation. So we have a lot of entrepreneurial spirit here in the state. But Wallet Hub ranked New Hampshire 45th for conditions that support startups, due to our business environment, business costs and our access to resources, such as funding. So there are challenges of being in a small state and doing a startup, but because of the access that we have to folks to help a startup succeed, I think that makes us a really great place to be.
Melanie Plenda:
We hear often about the “New Hampshire Advantage,” mainly touting lower business taxes, being a draw. Does this really make a difference for small shops?
Matt Mowry:
When you are starting up, you are resource-poor and expense-rich. You're spending a lot of money and at the same time you're not bringing in probably as much as you would like. So any savings is a help, especially when it comes to tax situations. But it's not the only advantage here in New Hampshire. It's the access to people being able to make those connections that can get you to whatever it is that you need.
Melanie Plenda:
It seems as though new banks are entering the New Hampshire market every week. Are they all after the big fish or does this translate to capital startup?
Matt Mowry:
New Hampshire has been a rich market for banks. We have attracted a lot of out-of-state banks. We've seen a lot of mergers and acquisitions. There's a reason they're attracted to what would appear to be a small marketplace, but we have a lot of businesses here. There's a lot of opportunity. We have a lot of wealth here in our state. So banks are attracted to that.
But different banks are attracted for different reasons. Some of them are going after those big fish, but big fish are a small part of the New Hampshire economy. Small- and medium-sized businesses are an important part of the marketplace in who they want to attract. Startups, depending on the bank, may not be on their radar yet. Startups come with a lot of risk, and especially with the economic uncertainty that we are entering, banks are not going to be willing to take as many risks without some backups. So that's where it's important, where startups can make those connections to things like the Small Business Administration that can provide loan guarantees that make it more attractive for banks to want to do that.
But startups are having to bootstrap more. They're having to go to friends and family. There's crowdsourcing. There's a lot of different options that startups have to look at before maybe they get to the stage where banks are going to take a closer look at them,
Melanie Plenda:
From cybersecurity to the potential for violence in the workplace, how are these challenges different for a small business?
Matt Mowry:
For small businesses, cybersecurity is actually a huge issue. Most people think that it's the big guns out there that really have to worry about it, and while they are targets, they also are more savvy. They have better protection against cyber threats. That's why we're seeing an increase in cyber attacks on small- and medium-sized businesses that don't have as many resources to protect themselves against such attacks. So as a startup, it's something that they really have to consider and look at what they can do to protect themselves.
Violence in the workplace is an issue for any business. That may not be as much of an issue for a small business because they just don't have employees as a startup, or have a small number of them. But, those attacks are coming from all over. Any concern that a larger or medium-sized business may have, startups are going to have those same concerns. It's just more compounded because they are just getting off the ground, and they just don't have the resources, perhaps, to address all those issues yet.
Melanie Plenda:
What do businesses need to know about AI?
Matt Mowry:
For startups, it's a real opportunity here, and for small businesses, AI can become that extra employee that fills in some of the talent gaps you may not have or expedite some of the things that you're doing as a startup, as an entrepreneur. It can be a real advantage, but there's a lot of pitfalls to AI that people need to know about. There's legalities involved with it too. So there's a lot of catching up to do in a market that's changing very quickly due to AI.
Melanie Plenda:
Can you talk about some of the startups honored at your event?
Matt Mowry:
So in our July issue, we did in addition to providing information, we wanted to be aspirational, and so we selected some startup stars from those who applied to us for it, as well as working with our partners, the SBA, the SBDC and the New Hampshire Tech Alliance, to identify great startups that are here in the state.
There is a real range of them. Everything from Big Dog Sauce Company, which makes a variety of barbecue sauces and hot sauces and we have New England Sports Hub, which is a large sports dome in Somersworth. That came out from an idea of someone seeing a hole in the marketplace where such a facility might be needed.
We also have The Printing Press in Dover, started by a woman who used to work for more corporate ‘big box’ printing and copying providers. She wanted to do better for her customers, and decided that she could do so and started her own little, small, independent business.
We had a lot of great companies that we honored as examples of the type of startup and entrepreneurial spirit we have in New Hampshire.
Melanie Plenda:
Matt Mowry, co-publisher and executive editor of Business NH Magazine, thank you for joining us today.
“The State We’re In” is a weekly digital public affairs show produced by NH PBS and The Marlin Fitzwater Center for Communication at Franklin Pierce University. It is shared with partners in the Granite State News Collaborative, of which both organizations are members. For more information, visit collaborativenh.org.