Mikeal Wood Named "Young Entrepreneur of the Year"

SYRACUSE –The U.S. Small Business Administration and the New York Business Development Corporation, along with participating lenders and economic developers, recently recognized Mikeal Wood of Auburn, NY as the 2006 Young Entrepreneur of the Year at the 8th Annual Small Business Excellence Awards luncheon and ceremony at the Syracuse Wyndham in Syracuse, New York.

From bakeries to manufacturers, restaurants to retailers, 26 successful small businesses representing a full range of products, services and innovations from Upstate New York received awards.

“These businesses may not be big in size, but their contributions to our economy are gigantic,” said Bernard J. Paprocki, Syracuse SBA district director. “You rely on them for the products you use and the services you need. Their names are on little league uniforms and their sponsor banners fly high over community events. The businesses we honor are part of the 25 million businesses across the nation that by their success contribute daily to our prosperity.”

Mikeal Wood, owner of Upstate Party Rental, was nominated for this award by the NYS Small Business Development Center at Onondaga Community College. Twenty-four year-old, Mikael Wood, began Upstate Party Rental with two tents, 15 tables and 104 chairs. They provide services for events such as; corporate gatherings, weddings, graduations, and reunions. Located in Auburn, this business has consistently upgraded their inventory, providing equipment that can meet virtually any event requirement.

The company has since grown to have upwards of $300,000 in equipment and specializes in the rental of all party goods. Some of the equipment available includes: tents (both tinted and non-tinted), dance floors, various lighting effects, chairs, china, coolers, chandeliers and linens. Upstate Rental employs local workers, who are committed to delivering the best possible experience for it customers, and have succeeded in making Upstate Party Rental one of the most popular destinations for event equipment rental in all of Central New York.

The Small Business Excellence Awards ceremony is one of many events in local communities across the nation that celebrates National Small Business Week. Small businesses are the driving force behind America's tremendous growth and job creation. They employ 51 percent of the private-sector workforce – that’s 57 million Americans! They create two out of three new jobs and produce 51% of the private sector output.


“The entrepreneurial spirit of America is robust and strong, and small businesses are thriving throughout our great nation,” said President George W. Bush in his annual Small Business Week proclamation. “The opportunity to own a business is an important part of the American dream. We celebrate small business owners and employees who are willing to take risks and work hard in pursuit of a better life for themselves and their families.
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For more information about all of the SBA’s programs for small businesses, visit the SBA’s extensive Web site at www.sba.gov.