NARROWSBURG — There's a new program in Narrowsburg called “Slow Money Delaware River.” A meeting held by the group at the Narrowsburg Union on February 7, focused on educating and sharing examples of successful business-investor relationships.

Following a potluck supper, moderator Jack Barnett introduced Slow Money's main idea of connecting investors and businesses to their communities through the local food industry.

“It's a national movement where investment is key and to invest properly, the idea is we've got to operate with money slowing down and caring more about the process,” Barnett explained.

The view is that rather than investing in Wall Street to make a quick, high return on an investment, people invest in smaller, local businesses, like family farms, for a moderate return. In the meantime, that investment will benefit the local economy, and keep money flowing through communities.

Slow Money was originally started in Rome in response to a McDonald's being installed near the Spanish Steps and has since spread to include over 30 organizations worldwide.

Slow Money Delaware River is just starting, and wanted their first meeting to be an informal discussion where local farmers, entrepreneurs and others interested in the concept could hear some stories from two local businesses before sharing what they think the community needs that Slow Money could help provide.

“We wanted to start off informally and flexible,” Barnett explained, “The content of this meeting is what to expect as an entrepreneur when you're getting investments from other people.”

Panelist Greg Swartz of Willow Wisp Organic Farm, shared his experience opening his farm and his recent expansion, stressing the importance of entrepreneurs to have a plan and know when to change that plan to fit your businesses needs.

“When I started my farm I had a clear idea of what I wanted to do,” Swartz explained. Due to his business plan he had been able to increase his farm's sales, workers, diversity of crops, and acreage of tillable land with an expansion to another farm. “I can't stress enough that having a plan in place lets you have a sustainable business and have a business that continues to grow. The only way to get ahead with money is if you manage money.”

Swartz stressed that small investments from individuals rather than banks will not only give a reasonable return on the investment, but will also help the community at large.

“This is about starting here and creating our own businesses based on our cultural heritage,” Swartz said. Those businesses would use readily available natural resources, share the profits within the community and help stimulate the economy from the inside out.

Panelist Grant Genzlinger of the Settlers Hospitality Group, stressed that without “slow money” or investments from family and friends when he and his wife were opening The Settler's Inn 37 years ago, he would have had a harder time starting his businesses.

“Most of what we did called for non-traditional financing,” Genzlinger said. He and his wife currently own and operate four historic hotels, four restaurants and one community-based project, and look to non-traditional financing to support their small business partners. “Traditional capital has restrictions that are not positive for this business model. The concept of slow money fills the holes.”

At the end of the meeting Slow Money Delaware River provided a business plan example and a promissory note as educational examples, stressing that the point of the meeting was to educate, not set up entrepreneurs and investors.

“Our goal is to have networking events,” Barnett said during a Q&A session where attendees brought up ideas that were important to them. The most asked question was how to connect business owners with investors. “We want to build community through all layers of community,” Barnet explained, “There's a lot of ideas and they need money, but they also need people with a plan. It's a matter of presenting that plan and reaching out.”

Those interested in learning more about Slow Money Delaware River can visit their Facebook page, or contact them at slowmoneydelawareriver@gmail.com or call Tony Waldron at 570-226-6288.