2020 Award Winners
2020 Small Business PERSON of the Year
Bruce Hagberg,
ritesoft, llc
Bruce Hagbert, owner of riteSOFT, LLC
In 2005, after 22 years with Bankers Systems/Wolters Kluwer, Bruce Hagberg received a severance
package and found himself looking for a job. “I’ve always kind of had in the back of my mind that I’d like to try my hand
at owning a small business,” he said. “I thought if I don’t try it now, I never will.”
In 2006 Hagberg and his wife Vicky purchased SRT Enterprises, a reseller of an existing ERP software product. Hagberg
immediately began turning the business into a software development company, creating packaged software for the
manufacturing/distribution industries. “Lots of people were creating custom software programs,” Hagberg said, “but I
wanted to build commercial package software, something that would meet 80 percent of the customers’ needs at 20
percent of the price.”
It turned out the company, which Hagberg recognized as a fixer-upper, needed more work than he had anticipated.
When the recession hit shortly after the purchase, payroll remained while cash flow dried up. Hagberg tapped into his
401k retirement and used his good credit rating to take out additional credit cards. He worked with the bank to secure a
guaranteed loan from the Small Business Administration and a line of credit. He found 10 shareholders, who continue to
hold minority interest in the business.
Today riteSOFT has 12 employees, two software products, and customers in 10 countries with 8,000 end-users of their
software products. Hagberg’s successful move from unemployment to international business owner earned him the
2020 St. Cloud Area Chamber’s Small Business of the Year Award.
St. Cloud Area Chamber of Commerce Business Awards Reception
Wednesday, September 9, 2020
The Park Event Center
4:00p.m.- check in, appetizers and social time
4:30p.m.- program begins
Business Awards Luncheon
Honoree Videos 2020