August News

We'll soon have the new Dickenson County Behavioral Health Services website online. It's nearly finished, and we're excited to complete a project for another client in Appalachia. Forward View is also filling our autumn design project calendar, so now is the time to schedule your organization's website development or upgrade. We offer free quotes and look forward to hearing from you!

On the equity research side of Forward View, Forward View research analyst, Michael Williams, was cited in an article about Nike's decision to exit the golf equipment business. We're developing fresh investment recommendations and always have sporting goods industry insights you won't get anywhere else. We invite you to ask us how this chart explains the state of sporting goods retailers:

Reach out to us soon!

The Appalachian Small Business Series: Mountain Finance

In the second installment of our Appalachian Small Business Series, we discuss economics and financing opportunities in the region.

We decided to focus on the availability of capital and related economic topics early in this newsletter series because they're critical elements for revitalizing Appalachia. Access to small business financing is necessary for entrepreneurial activity, and without cash, firms can't survive long enough to implement our other ideas. With a strong financial foundation, though, companies can focus on 21st century growth strategies.

Before diving into our small business recommendations, let's take a look at the state of small business financing in Appalachia. Perhaps not surprisingly, there's limited data on this subject as more researchers focus on rural economics in developing nations than on Appalachia. Anyway, some of the only available research on our topic comes from a National Community Reinvestment Coalition (2007) report. The study offers these important points:

  1. Small and mid-sized banks in Appalachia are especially small business-friendly. Branches of large banks tend to be less devoted to small business.
  2. The most economically-distressed counties in Appalachia suffer from insufficient access to business capital, especially for companies early in their development.
  3. An overall lack of non-bank financing opportunities restrains small businesses across Appalachia.
  4. Entrepreneurs in Appalachia need additional financial guidance and training to succeed.

How should small businesses in Appalachia respond to these facts?

Just because many counties in Appalachia have limited ties to the banking sector doesn't imply that small businesses should ignore this traditional source of capital. In fact, the fewer the banks in a community, the more important it is to be well-prepared for an application for a loan. (You can't afford to fail!) It's absolutely essential to create a detailed business plan for new ventures, including realistic financial forecasts. Banks won't lend money to entrepreneurs without a clear understanding of the business. Existing firms seeking additional financing will need revenue, profit and cash flow predictions, too. The SBA and SCORE are two sources of guidance for business plans and small business forecasting. Contact them for free advice! Forward View, of course, can also create the financial analyses required for loans and other forms of start-up financing.

One new source of business financing that's underappreciated in Appalachia is crowd-funding. No, we're not talking about some type of charity fundraiser; we're talking about a 21st century alternative to banks, private equity and venture capital firms. EquityNet, Crowdfunder and MicroVentures are just a few of the companies that help connect entrepreneurs directly to investors. Crowd-funding bypasses lending institutions and serves as a new route for businesses in Appalachia (and elsewhere) to receive capital from across the nation. We believe that crowd-funding can absolutely help to bridge Appalachia's financing gap.

In the next issue of this newsletter series, we'll discuss industry and tourism in Appalachia and its relationship to small business. We look forward to presenting our research and ideas. Stay tuned!

Reference: National Community Reinvestment Coalition. (2007). Access to Capital and Credit For Small Businesses in Appalachia. Retrieved from the Appalachian Regional Commission:

July News

Forward View enjoyed a truly exciting July. First of all, we completed the Ralph Stanley Museum website! (Click here to see it.) We believe that it's one of our finest website designs, and we thoroughly enjoyed the entire museum project. We've already begun our next website development job, too.

Our founder was quoted in a U.S. News & World Report article on analyzing corporate earnings reports. (Click here to read.) He was also interviewed by Harvest about Forward View's research methodology and our coverage universe. (Click here for the interview.)

In July, Forward View research analyst Michael Williams initiated formal coverage of Callaway Golf (ELY). Our Director of Research, Nathan Yates, and Forward View research analyst David Wilson initiated formal coverage of West Marine (WMAR), too. As our Sporting Goods Monitor research service continues to expand, we invite you to review these free research samples: Cabela's 2Q Earnings AnalysisMarineMax Fiscal 3Q Earnings AnalysisWest Marine 2Q Earnings Analysis. Please contact us to start your free trial of our equity research service.

May News

May was an exciting month for Forward View with three new stocks added to our coverage list: Sportsman's Warehouse, Hibbett Sports and MarineMax. The initiation reports are available exclusively through StockViews. (Please contact us if you're interested in a StockViews research service trial.) In June, our coverage list will be expanding again with the addition of Callaway Golf. This special coverage will be provided by new Forward View research analyst Michael Williams. He's a golf industry expert with experience in auditing, planning and business analysis. Forward View will be pleased to share Michael's financial modeling, forecasts and field research with our institutional clientele.

Michael earned a Bachelor's degree in Economics and Finance from Southern New Hampshire University, where he graduated with multiple honors and is now a Master's in Finance candidate. He has also completed additional studies in Econophysics and speaks conversational German. Michael is a great addition to the research team!

Forward View was also in the news once again in May. Our mutual fund research was cited by U.S. News & World Report in this article. The Springfield News-Leaderalso discussed our analysis of the potential for a Bass Pro and Cabela's combination in this article.

On the design and consulting side of Forward View, we continue to develop the Ralph Stanley Museum website, and we've also been busy with website updates and marketing projects. We're especially happy that multiple clients decided to deepen relationships with us and request additional services. Each opportunity is most appreciated!

Have a great June! 

March News

In March, we initiated the next stage of our growth on the research side of the business. We officially launched the Sporting Goods Monitor research product, and we're pleased to announce that our distribution system has been upgraded with new technology from Harvest. We're one of the first research firms anywhere on Earth to publish research through the incredible Harvest platform, so we're also offering anybody a free three-week trial of the Sporting Goods Monitor. Our initiation report on Big 5 Sporting Goods was just published, and we're finishing up our analysis of Dick's Sporting Goods! On the consulting side of Forward View, we've completed the new website and logo design for Assistive Technology for Education. It's an utterly beautiful website if we do say so ourselves, and team member Jamie Brown truly outdid herself. In addition, the new Town of Clintwood website will be live any day now. You're going to love our take on the digital representation of Small Town USA. Our founder's photos are prevalent on the town's website, too. The Facebook page we created for Clintwood offers a preview of the town website:

Speaking of Facebook, Forward View now has our own company Facebook page: Hurry up and like us for small business insights, stock market commentary and news from Forward View! We promise to never post cat videos, though. Seriously, we have nothing against cats but find the cat video industry too competitive for our efforts to thrive.

Happy April to you!

February News

February was an exciting month for Forward View. First of all, we're happy to announce that Fred Campbell has joined us as a research analyst. Fred is a wonderful asset to our business, and we're excited to have him aboard. Now that we have a larger team, we can begin offering our newest product, the Sporting Goods Monitor! This research service will provide complete coverage of the sporting goods value chain and every key company in the industry. This is our unique niche, and all of the stocks covered in the Sporting Goods Monitor will be analyzed using the Forward View valuation model. Even if you don't especially care about the sporting goods sector, you'll benefit from our accurate forecasts on almost twenty newly-covered stocks. The Sporting Goods Monitor will be available only to institutional investors, and we'll cap the number of subscribers at fifty in order to create an exclusive group of clients.

On the consulting side of Forward View, we're currently finishing two major projects and have also begun to upgrade a new client's website. In February, we also put the SamShines site online. It's a pleasure to reveal that design to the public. Four of our team members contributed to the SamShines project!

Finally, Forward View enjoyed significant media coverage in January and February. The co-founder of Thinknum (a Forward View business partner) referenced our research on Cabela's in this Bloomberg Radio interview. Benzinga also discussed our Cabela's earnings analysis in this article, as did Paige Yowell of the Omaha World-Herald in this report and this update. Our research on Joy Global and Westmoreland Coal was also cited online.

We wish you a successful March ahead!

January News

We're pleased to have finished a new website for the Best of British shop in Hampton, Virginia. Take a look at Forward View has other client websites currently in development, and we're anxious to share them with the world very soon! One project is our first government site and the others are being designed for small businesses.

Forward View has also begun to use the fantastic data and maps from Thinknum to add geographic analysis to our research offerings. Thinknum's e-commerce website usage statistics have also been utilized to better understand the recent merger of Newell Rubbermaid (NYSE: NWL) and Jarden (NYSE: JAH). (Contact us for research details!) In addition to the new services we're enjoying from Thinknum, we've upgraded our financial modeling capabilities courtesy of We're impressed by the Finbox platform and look forward to a long-term relationship with the company. The Forward View valuation model has only been improved by Finbox services.

We wish you a great month ahead and encourage you to follow us on social media!

October News

October was another great month for Forward View. We've been developing multiple websites and have received new client inquiries, too. It's exciting to see our firm's growth in each week of every month. One of our best projects was upgrading the Maple Hall Inn website to enable its functionality on mobile devices. We also squashed bugs on the site and connected it to the Inn's social media accounts.

The Forward View team has been active in interviews, too. Our founder provided a Twitter marketing tip for this article and was contacted by a reporter from the Omaha World-Herald for a story on a potential private equity buyout of Cabela's. Forward View analyst David Wilson also interviewed Westmoreland Coal's CFO, Kevin Paprzycki, early in October. This interview proved to be very timely as Mr. Paprzycki was elevated to the CEO position just over a week ago. Our network of carefully cultivated business contacts will continue to be leveraged for our equity analysis clientele. Please contact us directly to join our exclusive list of research subscribers. We look forward to delivering expanded financial coverage in 2016.