A Cautionary Small Business Tale

Great CNN article submitted by Marti Benedetti called "How to lose money fast:Open a Business."

Many people go into business with an overly optimistic attitude and little or no preparation. Some start up business owners avoid seeking technical assistance or counselingcounsel as they do not want to hear that there may be something wrong with their idea. Smart business owners do their homework and look at all the potential hidden costs. The bar owner in this article had a business plan but it is unclear for example if he talked to other bar owners or did a competitive analysis.

Banks, who are not doing much in the way of lending right now have always disliked start-ups, considering any business open under 24 months as part of that category. If you can get a bank to consider a loan, they will generally expect you to break even some time in the first year. As a result, many people show a cash flow projection that is not realistic in order to please the bank and get the money.

Of course no one could foresee this current economy and its effect on the bottom line of small businesses. Owners have had to dig into their own pockets in order to stay open and those pockets are not as deep as they once were. But the entrepreneurial spirit endures an we have seen an upturn in the number of people coming to the UNF Small Business Development Center for assistance.

Unemployment Illustrated 2007-2009

Check out this amazing progressive map showing the dramatic increase in unemployment from 2007 through 2009. Thanks to Latoya Egwuekwe and the American Observer for putting this together. To watch the map change, go here.

Small Businesses Need Loans in Order to Survive

The national press is finally paying attention to the notion that it is going to be small businesses that lead us out of the recession. This CNN article points the problem out vividly in that small businesses can not survive without the ability to borrow from banks. First their credit lines were taken away, then lending stopped altogether. In Jacksonville, our SBDC is having quite a challenge in getting banks to lend to our clients. In many cases, six to twelve months of losses by a client makes it impossible to get them commercial bank financing. When business owner's find themselves in a financial bind, they (like the rest of consumers) by fewer things for their business and personal use creating the vicious cycle we have seen that generates the continuing small business job losses, bankruptcies and going out of business sales.

Marketing 101 - Last Chance in 2009!

Just starting a business is not enough; you need to let potential customers know about it, get them in, and have them buy your product or service. Marketing 101 will help you achieve your sales and marketing goals by understanding your products or services, customers, prospects and competitors.

The instructor for this session is Michelle Chance-Sangthong, owner of Red Hawk Strategies. She is an expert in marketing strategies and search engine optimization. She is also one of the most popular SBDC instructors and an in-demand speaker throughout North Florida.

Don't miss this workshop on December 3 from 6:00 until 9:00 pm at the UNF University Center. The cost to attend is $40. For more information or to register call 620-2476 or go to http://www.sbdc.unf.edu/.

Today's The Entrepreneur's Law School: Be Informed-Reduce Your Risk

Our legal workshop was a big hit today at the UNF SBDC. The best legal advice is to consult a lawyer before you need one. Whenever you have an important decision to make or need to sign anything, it’s best to review it with your attorney to fully understand any potential risks before taking action.

Florida’s Small Business Resource Network (SBRN) assembled in one place all the legal advisors and experts in corporate law that a business owner would need. In just one day, these legal professionals will provided attendees an arsenal of information with the facts they needed to reduce risk and be fully prepared for their businesses to succeed.

Never before have so many legal experts been assembled in one place, at the same time, to answer questions—all for less than the cost of just one hour of one of these professionals’ time! Props to our sponsors as well as SBDC staffers Marice Hague and Stephanie Royal for making this happen.

International trade program enters final week

The International Trade Certificate Program – Export Series introduces companies to every aspect of exporting. It’s designed for small businesses that are new to international exporting as well as growth-oriented businesses that want a better understanding of the opportunities and resources available. In today's class Cindy Flores of SunTrust Global Trade addresses the clas on the topic of export credit risk management. The International Trade Certificate program, facilitated by SBDC Area Director Cathy Hagan, finishes up next week.

Starting and Running a Small Business in St. Johns County Just Got Easier

Thanks to the financial support of the St. Johns County Board of County Commissioners, the SBDC at UNF now has a full time office in St. Johns County. Marge Cirillo, St. Johns County's very own SBDC Certified Business Analyst, has an office in the County's Growth Management Building, also known as the "Permit Center". SBDC receives federal funds from the SBA that must be matched by local sources. St. Johns County BCC 2009/10 budget includes $40,000 for the SBDC office, which is matched dollar for dollar (or more) by federal and state funding.

St. Johns County Commissioner Ken Bryan spearheaded the effort to put the SBDC into the budget. And his fellow commissioners fully supported the cause, proving that they recognize the impact small businesses have on the economy.

Marge has already started meeting one-on-one with St. Johns County's prospective and existing business owners. Make an appointment by calling (800) 450-4624.

Small Business Development Center Opens New Office

The Small Business Development Center at the University of North Florida, in partnership with the St. Johns County Board of County Commissioners, announced the opening of a full-service location in St. Johns County.

Through this partnership, small business owners in St. Johns County will have access to the resources they need to help their business start, grow and prosper.

The Small Business Development Center will operate an office in the St. Johns County Growth Management Permit Center, located at the County Complex on Lewis Speedway.

Marge Cirillo, a full-time Certified Business Analyst, will work with small businesses in St. Johns County, both from the new office in St. Augustine and through site visits to other areas of the County.

The new partnership with St. Johns County includes financial support and office space,
consistent with the Commission’s established goal of enhancing economic viability and
promoting economic development.

An official ribbon cutting to celebrate the grand opening of the St. Johns County Small Business
Development Center office is scheduled for Monday, October 19th, at 1:30 pm in the St. Johns
County Growth Management Permit Center, 4040 Lewis Speedway. The proceedings will
include remarks from Small Business Development Center Area Director Cathy Hagan and
others.

Since 1976, the Small Business Development Center at UNF has helped over 30,000 small
businesses in an 18-county area; providing assistance through management advice and
technical training with little to no-cost to the potential, fledgling or well-established small
business owners.

For more information call the Small Business Development Center at 800-450-4624 or 904-620-2476.