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U.S. Small Business Administration Alaska District Selects 2013 Alaskan Small Business Persons of the Year

Anchorage Alaska:  The U.S. Small Business Administration (SBA) is pleased to announce that Justin Herrin and Doug Coon, owners of Young’s Gear LLC, will be honored as one of the nation’s top state small business winners in Washington D.C. June 21st for the National Small Business Week Awards celebration.

Young’s Gear opened for business on April 1st 1997 in Anchorage, Alaska.  With an initial staff of three employees, the company quickly grew into Anchorage’s leading Automotive Drivetrain Parts and Service Company.  Ten years later, in October of 2007, with valuable assistance and critical insight from Paul Tousignant, a SCORE Business Advisor, two long-term employees, Justin Herrin and Doug Coon, purchased the business from the founder.

In the past five years, with help from SCORE, the Alaska Small Business Development Center, the SBA 7(a) loan guarantee program, and a small team of professional advisors, Justin Herrin and Doug Coon significantly increased sales, profits and cash flow by improving the efficiency of operations and inventory.  The team at Young’s Gear created good paying, personally satisfying jobs with benefits and brought resources to the betterment of the community.  They continue to demonstrate the ability to improve efficiencies, care for employees and satisfy customer needs. 

Regional Administrator Calvin Goings said, “Small businesses like Young’s Gear have tremendous impact on their communities.  We are pleased to recognize Doug Coon and Justin Herrin as the 2013 SBA Alaska Small Business Persons of the Year.”   

The SBA selects a Small Business Person of the Year for each of the 50 states, Washington, D.C., Puerto Rico, the U.S. Virgin Islands and Guam.  Winners are selected based on their staying power, growth in number of employees, increase in sales and/or unit volume, financial strength, innovation, response to adversity, and community contributions.  For more information about Small Business Week, go to:  www.sba.gov/smallbusinessweek.

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