East Hartford, CT; September 17, 2020 — What started as a passionate hobby for Alton Beaudoin in 1957, has grown into a multi-generational family-owned business known as Mystic Knotwork, LLC. In 2008 when Alton’s grandson, Matthew Beaudoin, rebranded the company his mission was to keep his grandfather’s name alive while working to transform a craft-show hobby into a full-scale business operation. This week, the Small Business Administration (SBA) recognized this hard work by naming President and CEO, Matthew Beaudoin, Small Business Person of the Year.
Matthew Beaudoin was nominated for this award by Connecticut Small Business Development Center Business Advisor, Matthew Nemeth.
“I started working with Matthew in 2018 and have admired his dedication and passion ever since,” shared Matthew Nemeth. “Matt’s contributions to the manufacturing sector in is how Mystic Knotwork integrates old and new is extremely valuable as we embrace progress in this industry.”
When Matt Beaudoin started working with CTSBDC, he was looking for assistance in growing his successful business. Mystic Knotwork was looking to enter new markets and through the guidance his advisor provided, their workforce has grown to include 4 full time, 7 part time, and 9 per diem employees. Matt Nemeth was also able to help Mystic Knotwork secure additional working capital from Key Bank and connect Matt Beaudoin with key stakeholders to grow his business.
As the SBA celebrates National Small Business Week September 20-24, CTSBDC are excited to highlight Matthew Beaudoin as the Small Business Person of the Year. National Small Business Week honors the nation’s small businesses, many of which are veteran, women and minority-owned, for their achievements and dedication to their communities. Matt’s achievement will be celebrated during a virtual ceremony hosted by SBA on Tuesday, September 22.
Today, Mystic Knotwork continues to thrive amongst a challenging business landscape. When COVID-19 hit, owner Matt reached out once again to CTSBDC to receive assistance applying for a Paycheck Protection Program loan. Through the support and guidance provided by Matt Nemeth, Mystic Knotwork was able to retain their staff and continue operations.
For more information about Mystic Knotwork, or how the Connecticut Small Business Development Center assists the state’s small business community, please contact Meghan Brennan, Communications Manager at Meghan.e.brennan@uconn.edu or 860-634-4435.
About the Connecticut Small Business Development Center
The Connecticut Small Business Development Center (CTSBDC) provides business advising to small business owners and entrepreneurs to start, grow, and thrive in Connecticut. Our professional staff of 18 Business Advisors offers no-cost confidential and expert business advising to small business owners and entrepreneurs to overcome challenges and reach their goals.
From the entrepreneur looking for business plan assistance to the experienced business owner looking to pivot their business, CTSBDC Business Advisors have the expertise you can count on.
Our business advising includes not only an assessment of your business plan but access to resources to grow your business: Tools such as geographic-based demographics, consumer spending data, market research, financial projections, industry reports, and more. Through our connections with various traditional and non-traditional lending institutions, we help business owners get access to capital when it is needed most.
CTSBDC is funded in part through a cooperative agreement with the U.S. Small Business Administration, the Connecticut Department of Economic and Community Development, and the University of Connecticut School of Business.