December 9, 2010

Independence

WELCOME

Ken McFadyenBlue Ridge Crossroads Economic

Development Authority

What Do

These

Entrepreneurs

Have in

Common?

SUCCESS!

SUCCESS!

Remember as a start-up

your place in the food chain

GET PREPARED…DO

YOUR HOMEWORK

OR……..

How to Start and Operate A Business

How to Start and Operate A

BusinessOur Team

Dr. Dallas Garrett-SBDC Director

Bernie Deck-Carroll County Business Development Director

Mandy Archer-SBDC Administrative Assistant

Sandy West-Financial Analyst

Kenneth McFadyen-BRCEDA Entrepreneurial and Business Development Director

Who is the SBDC

• Small Business Development Center

• VSBDC Mission – To Improve new and existing

small business success and grow Virginia’s economy

• Vision – To be the small business resource of first

choice in Virginia

Where business comes to talk business.

SBDC’s Goals

• Assist clients to create and retain jobs

• Increase client’s revenue and profitability

• Increase capital investments and efficiency in client business

• Increase business success rate and

• Continue as a recognized contributor to Virginia’s economic development

Where business comes to talk business.

How the SBDC can Benefit you

Through one-on-one Counseling, the SBDC can help you with the following processes…

• Discuss your Ideas in a confidential setting-There are no bad or silly idea-Some ideas need a little adjusting

• Help you understand the Business Planning process and provide whatever assistance you need to complete your plan

• Guide you through the process providing help along the way• Help you determine realistic financial projections and provide

marketing ideas• Suggest workshops that you might attend to help you start your

business off right• Suggest format for your plan to help you secure funding• Help you complete the loan application• Provide sources of business financing• Arrange meetings with funding sources at Crossroads• Help you improve your credit report, when necessary and help

with Permits, Licenses and taxesWhen you are successful we all benefit

Where business comes to talk business.

Business Planning & Strategy

• Help with Business Structure

• Explain pros/cons of different structures

• Taxes, Liabilities & Termination

• Consider talking to an accountant/attorney before you decide.

• Suggest banking, accounting and bookkeeping practices that will help your business

Where business comes to talk business.

Why do I need a Business Plan

• A good plan will allow us to provide funding contacts from a variety of sources including banks, private lending institutions, private investors, venture capitalists and angel Investors

• Provide you with a management tool for your business

• A Business Plan Forces you to take an objective view of your ideas

• A Business Plan serves as the road map to your objective

Where business comes to talk business.

What goes into a Business Plan• Attractive Cover and Cover Letter

• Table of Contents

• Executive Summary and Capital Request

• Description of Business, Projected Number of Employees

• History of the Company if already in Business 2-3 years of Financials

• Description of Products and/or Services

• Who is Your Competition?

• Market Analysis

• Marketing and Sales Strategies

• Organization and Management Structure and Experience of Key People

• Floor Plan and Pictures of Facility

• Financial Projections 3-5 Years, Financial Graphs

• Resumes of Key Employees

• Appropriate Attachments-Letters of Support-Recent orders

Where business comes to talk business.

Business License & Registration (7-Steps)

• One - Determine entity

• Two - State Corporation Commission

• Three - IRS Forms - EIN

• Four - Unemployment taxes – VA Employment

Commission

• Five - Registration – VA Dept. of taxation

• Six - Local license/tax with local commissioner

of the Revenue/Town Administrator

• Seven - Other State Agencies for Licenses/Permits

for professionals

Where business comes to talk business.

Pricing Structure

• We will help you determine realistic costs for your business operation, which will help you determine your pricing Structure

• Margin based

• Income based

• Competition Based

• Image Based

• Volume based

• Testing basedFrom “hypergrow your business” by Curtis Clinkinbeard

Where business comes to talk business.

Management Practices

• Leadership/Team Building

• HR Management

• Quality Control Practices

• Six Sigma

• Lean Manufacturing

• Lean Six Sigma

• ISO /QS

Where business comes to talk business.

Crossroads Business Development Success

• Clients-708

• Business Plans Completed 204

• Clients Funded-155

• Clients that did not need funding-32

• Funding to date-$42,651,247

• Jobs created or saved-652

VSBDC Offices

Crossroads SBDC OfficeTel: 276-236-0435

Dgarrett@crossroadsva.orgLongwood SBDC – Martinsville

www.longwood.edu/sbdc Tel: 276-632-4462

Mountain Empire Community Collegewww.me.vccs.edu/sbdc/ Tel:276-523-6529

New River Valley/Radford Universitywww.sbdc.radford.edu Tel: 540-831-6056

Roanoke Regional Small Business

Development Centerwww.roanokechamber.org/ Tel: 540-983-0717

Southwest Virginia Community Collegewww.sw.vccs.edu/sbdc Tel: 276-964-7345

Virginia Highlands Community Collegewww.vhcc.edu/sbdc Tel: 276-739-2474

Count on SCORE Mentors for

Small Business Growth Advice

www.score.org

Small Business & SCORE

Topics

About SCORE

Mentoring & Small Biz Success

Resources to Help You Succeed

Useful Small Biz Resources

Success Factors

Getting Started

www.score.org

About SCORE Advice

SCORE is America’s free and confidential

source of small business mentoring. SCORE is a nonprofit association of more than 13,000

business experts representing 335,000 years of

experience who volunteer as mentors.

• 364 offices with local face-to-face mentoring

• Local, low-cost business workshops and seminars

• SCORE advice online through www.score.org

• Entrepreneurs get free and confidential business advice

www.score.org

Small Business and Success

Q: Why is mentoring important to you? A: Small business represents success on your own terms.

• Mentoring aids success

• Be your own boss

• Achieve your lifelong dream

• Create financial independence

• Mentoring increases your

chances of starting**Dr. Jianwen Liao, Illinois Institute of Technology

www.score.org

Small Business and Success

Q: How big a part of the economy is small

business?A: Small businesses create jobs and fuel growth.

• Nationwide, there are more than 29.6 million small businesses.

• Small businesses represent 99.7 percent of all employers.

• Small businesses create 64 percent of new jobs.

• Each year, more than 625,000 new small businesses start.

www.score.org

Mentoring Has a Great Place in Business

Q: How can a SCORE business mentor help?A: SCORE mentors give real-world advice that applies

to your business

Helpful and useful advice

Business and marketing planning assistance

Problem solving for managing cash flow

Growth strategies for business opportunities

Confidential sounding board for your ideas

www.score.org

SCORE to Help Grow 1 Million Successful

Small Businesses by 2017

• Business Starts: 68,742

• Jobs Created 30,603

• Jobs Saved 16,510

• 2009 SCORE clients still in business 90%

Gallup Poll shows SCORE Helps Business

Start & Grow Even in Recession

SCORE and Job Creation

www.score.org

Small Business at a Glance

58.3% of goods-producing

industries are small business

47.73% of service industries

are small business

60.2 million U.S. workers are

employed by small business

Small Business Means Jobs

0

10

20

30

40

50

60

70

80

90

Percent Small Business

Source: http://www.sba.gov/advo/research/sbqei1002.pdf

www.score.org

Business and Job Creation

50% of U.S. employees

work in a small business.

64% of net new jobs from

1993 to 2008 were small

business jobs.

Source: U.S. Dept. of Labor, Bureau of Labor

Statistics, Business Employment Dynamics.

www.score.org

Economic Recovery Trending

Small Business is the Key to Economic Recovery

Source: Fall 2009 American

Express OPEN Small Business

Monitor

• The unemployment rate fell to 9.5% in

June, and the economy generated

524,000 net new jobs in the second

quarter.

• 42% plan for capital investments

• Small business growth leads to

commercial real estate improvements

and regional bank success.

www.score.org

Improving success rates

improves the economy.

Today, only half of small

businesses survive for

5 years. (post shut-down

interviews revealed that 85%

were preventable)

Let’s change that.

Improving the Success of Small Business

Setting the Stage for Growth

Source: U.S Dept. of Commerce, Bureau of the

Census, Business Dynamics Statistics.

www.score.org

Growth Industries Aid Recovery

• Green Power: Got $1.6 billion, 27%, of

all investment dollars in 2010 Q3

• Senior Market: 3 of the top 10 industries

with fastest employment growth

• Locally grown and made products:

More than 5% growth in the past 5 years

• Healthcare: Revenue expected to grow

beyond $72 billion by 2011Source:

http://www.entrepreneur.com/tr

ends/index.html

Small Business Leads the Way with Niche MarketsHealthcare, green business , “go local” opportunities

www.score.org

Who is Thinking Positive?

Entrepreneurs are Optimistic about the Future50% say future is brighter

• Gen Y is the most optimistic.

80% see better business ahead.

• Women more upbeat than men.

60% positive about the future.

• Expansion begins.

More than 25% of entrepreneurs

say YES, we are ready to invest in

the future.

Source: Fall 2009 American Express

OPEN Small Business Monitor

www.score.org

Workflow Responsibilities

SCORE is America’s

small business resource

• One-on-one counseling in

person & online.

• Workshops, seminars &

events in your community.

• Business tools & templates

at www.score.org.

Free & confidential

mentoring

• We help small biz grow

• Jelly Belly $160mm rev

• Vera Bradley $288mm rev

• 8.5 million served since 1964

• 370,000 assisted this year

Setting the Stage for Success

www.score.org

Mentoring & Expert Insights Aid Success

Source: Gallup SCORE client outcomes survey 2009.

68.9% of SCORE’s clients

go into business after mentoring

• Clients in 2009 +350,000

• Under 44 years old 46%

• Female 46%

• College graduates 69%

Small Business Counts on SCORE

Helena and Emily McHugh of Casauri,

SCORE clients for more than 10 years.

www.score.org

60% of SCORE clients say

these SCORE-mentored tools

are very important to the

growth of their business.

• Marketing Plan

• Business Plan

• Cash Flow Analysis

• Financial Strategy

Entrepreneurs’ Favorite SCORE Resources

SCORE as an Expert Resource

Source: Gallup SCORE client

outcomes survey 2009.

www.score.org

Thank you.

Steve Willinger, Chapter Chair

.

Small Business Matters

Bristol & Abingdon

Call or visit us online

(423) 989-4866

www.bristolscore.org

We are here to help with free & confidential mentoring

Growing Your Business/Marketing

Strategies

Steve WillingerSmall Business Marketing Professional

Social Media Strategist

Bristol, TN

MARKETING & ADVERTISING

For The Entrepreneur

Entrepreneur Express

March 18, 2010

• Marketing Today

• Social Networking

• Planning for Success

• Advertising for the Small Business

• Developing a Marketing Budget

Today's Agenda

• Advertising is struggling

• Expectations are increasing

• Competition is everywhere

• Time is a scarcity

• Technology has become an integral component

A Few Facts

“Everything you do to place your product or service in the hands of potential customers.”

• Creating a customer

• Keeping a customer

Marketing is. . .

Social Networking?

Social Media

• Anticipate future events

• Define a direction

• Create a blueprint

Marketing Plans

Marketing Plans

“A written plan turns your marketing into a planned investment

rather than a hopeful risk”

• Easy to understand

• Clearly links objectives to strategies

• Specific and measurable

• Flexible

• Provides for checkpoints

A Good Plan…

The Marketing Plan

• Reality Check* Current economy

* Understanding success factors

* Challenges your company faces

• Customer Analysis* Demographics, purchasing behaviors

• Competitive Analysis* SWOT analysis, competitive changes, challenges

The Marketing Plan

SMART Objectives• Specific

• Measurable

• Accurate

• Realistic

• Time-based

The Marketing Plan

• Strategies must be linked to the objectives

• Well thought-out strategies can provide discipline

• Minimizes the tendency to react

• Provides a benchmark for measuring success

7 Step Marketing Plan

1. State the purpose of your marketing.

2. Define your target audience.

3. State customer benefits to emphasize.

4. List marketing objectives & strategies

5. Describe your market

6. Establish your budget.

7. Prepare an Action Calendar.

The most “convenient” method of communicating to your target audience the

benefit of purchasing your product or service.

ADVERTISING is . . .

The key is to ensure that they take notice of yours!

HOW?

Fact: Most people ignore advertising

Location

Regular advertising will build awareness

Constant Focus on Sales and Marketing

Community Involvement

Public Relations

Communication

Customer Service

Make sure your company is

Recognizable

Make sure your company is Memorable

Advertising puts your company at the forefront of people’s minds.

Advertising either stimulates a purchase or helps to ensure that people know where to go when they do decide to purchase.

Advertising also confirms a customer’s decision that doing business with you was a good idea

How Does Advertising Work?

Branding

• What is it going to cost?

• What methods would benefit my business the most?

• Meet with a professional

QUESTIONS ASKED . . .

% of lifetime value of customer

% of previous annual sales

% of desired sales

8-10% average retail (b2c)

4-6% average wholesale (b2b)

Marketing & Advertising = Customers

Advertising Budget Basics

Steve WillingerSmall Business Marketing Professional

Social Media Strategist(423) 797-0355

smwillinger@gmail.comstevewillinger.com

linkedin.com/in/stevewillingerfacebook.com/stevewillinger

“It’s your turn for Comments and

Questions”

Tourism Business Development &Marketing Assistance

Kitty BarkerDevelopment Specialist – Partnership Marketing

Virginia Tourism Corporationkbarker@virginia.org

276-466-8772

www.vatc.org (industry)www.virginia.org (consumer)

Impact of Tourism in VA - 2009

• 17.7 billion in revenue

• supported 204,480 jobs

• provided $1.24 billion in

state and local tax revenue

*International visitation up 16%.

Virginia Tourism Corp. Services

• Advertising

• Customer Service & Industry Relations

• Electronic Marketing

• Film Office

• Marketing & Promotion

• Public Relations

• Research

• Tourism Development

• Others

Development & Partnership Marketing

• Wilderness Road Heritage Trail

• Virginia Coal Heritage Trail

• ‘Round the Mountain

• Heartwood

• Spearhead Trails

• Planning Assistance

• Marketing Guidance

• Workshops

Business Assistance

Funding

• Marketing Leverage Program

Tourism Business Opportunities

•Canoe Rentals and Tours

•Fishing and Boating Rentals

•Bicycle Tours and Outfitters

•Adventure/Nature Camps

Agri-tourism

•Wineries/Vineyards

•Corn Maze

•Pumpkin Patch

•Pick Your Own

•Animal Parks

•Herb/Flower Farms

•Christmas Trees Farms

Unique Lodging Opportunities

Bed & Breakfast Inns

Cabins and Cottages

Lodges

Campgrounds

Horse Campgrounds

Horse Stables/Barns

House Boats

Green Lodging

Music/Theater Venues

Artisan Studios/Galleries

Heritage Sites

Tea Rooms

Breweries/Pubs

Eclectic Restaurants

Shopping

Spas

Attractions

Ancillary Businesses

Caterers Cleaning Services Food/Drink Distributors ElectriciansRestaurant Equipment Plumbers Security Systems Pool MaintenanceConvenient Stores Lawn Care Web Site Designers Auto RepairAd Agencies Events PlannersTravel Agencies FloristsMotorcoach Companies Linen Services

Car Rental Offices

6 Questions You Should Answer

• What are we trying to accomplish?

• Who is our target audience?

• What message will move our audience?

• What vehicle do we have to deliver the message?

• What are our resources?

• How do we measure our performance/success?

Marketing Tips

Marketing Plans Change

• Because of business growth

• Because of research

• Because of economic factors

• Because of technology (social media)

• Because there is always change

Marketing Tips

Virginia’s Recent Ad Campaign

Targeting Niches & Groups By Interest

Marketing Tips

•Traditional Music (Crooked Road)• Cultural Heritage (Coal Heritage Trail)• Anglers (Fish Virginia First)•Outdoor Enthusiasts •Weddings/Meetings/Group Tours

Public Relations

Marketing Tips

Learn More About VTC Services

• Visit www.vatc.org & www.virginia.org

• Sign up for the Dashboard e-newsletter

• Attend at VTC Help Desk event

• Establish relationships with all VTC divisions –tap into our services (i.e. marketing, advertising, research, etc.)

Tourism Business Development &Marketing Assistance

Kitty BarkerDevelopment Specialist – Partnership Marketing

Virginia Tourism Corporationkbarker@virginia.org

276-466-8772

www.vatc.org (industry)www.virginia.org (consumer)

Financing & Managing Resources

Helpful Hints for

Financing

Your Business Scott Peak

Market President

© 2009 Wells Fargo Bank, N.A. All rights reserved. For public use.

Helpful Hint #1

Get Your Financial House In Order

Obtain a copy of your personal credit report.• Check for any inaccuracies or mistakes.• Make certain that all accounts are current and there are no outstanding judgments or liens.• If there is any derogatory information, be proactive and prepare to explain the problems and why the

problem is not likely to occur again.

Gather personal and/or business records• For the past three years, including:

• Tax returns, financial statements with schedules and attachments, and interim year-to-date financial statements.

• Any other financial documents that might help a lender.• Neatly photocopy all of the documents and prepare them for your presentation.

85© 2009 Wells Fargo Bank, N.A. All rights reserved. For public use.

Helpful Hint #2

Understand What Your Lender is looking for

Be specific in what you are asking for• Know how much you need• Be prepared to support all costs with estimates, invoices, or contracts• Never tell a lender that you want to borrow as much money as possible.

Primary source of repayment• Be able to demonstrate how you will pay back the loan

• Debt Service Coverage = Earnings before Interest, Taxes, and Depreciation / Total Debt Service

• Debt to Income= Debt service / Income available to service debt

Secondary source of repayment (back up plan)• Be prepared to be able to demonstrate how your lender will be paid back if income falls short• Be prepared to have guarantors and possible collateral

86© 2009 Wells Fargo Bank, N.A. All rights reserved. For public use.

Primary Source of Repayment

Business Net Income + Outside Income (W-2)Interest Expense +Depreciation / Amortization +

Earning Before Interest, Depreciation, & Amortization(EBIDA)

DIVIDED BY

Annual Debt Service Payments orInterest Expense plus Current Maturities of Long Term Debt

Equals = Debt Service Coverage (Target > 1.40 to 1.0)

87© 2009 Wells Fargo Bank, N.A. All rights reserved. For public use.

Helpful Hint #3

Recognize Your Strengths And Weaknesses Bank underwriters are paid to identify risk

• Business owners tend to be optimistic• Be prepared for scrutiny• Address your strengths and challenges realistically & honestly

Most common weaknesses lenders find are:• Inability to demonstrate repayment ability• Insufficient collateral• Lack of management experience• Insufficient cash injection• Poor personal credit

Don't get scared; just get prepared• Depending on the severity of any particular weakness, you can often overcome it if you are prepared

with a particularly noteworthy and compensating strength.

88© 2009 Wells Fargo Bank, N.A. All rights reserved. For public use.

Sources of Financing

Credit Cardso Most expensiveo Credit lines may be cut unexpectedly o Most risk

Personal Savingso Lowest expenseo Lowest risk o Do not use all of your savings for start up costs

Bank financing o Low costo Shorter termo Higher equity requirements

Small Business Administration guaranteed loanso Low costo Longer termso Reduced equity requirementso Lower risk to partner Bankso Multiple plans to address real estate, equipment, and working capital needs

Non-profit community lenders (People Inc, etc)

89© 2009 Wells Fargo Bank, N.A. All rights reserved. For public use.

Why NOW is the Best Time EVER to get a

SBA Loan?

More companies than ever are eligible

Tangible net worth <$8.5MM

Net profits <$3MM in each of last two years

Transaction costs are at an all time low

SBA has waived the guarantee fee – usually ~2 points

Interest rates are at all time lows

Congress is now acting to increase lending limits,

waive fees, and bolster lending!

90© 2009 Wells Fargo Bank, N.A. All rights reserved. For public use.

Advantages to SBA Loans

Lower down payment

Up to 90% financing on Owner Occupied Real Estate

Up to 85% financing on Business Acquisition

Up to 90% financing on Partner Buy Out

Longer amortization

20 – 25 Year Term on Owner Occupied Real Estate

10 Year Term on Business Acquisition or Refinance

Can lend with collateral shortfall

SBA does not have specific LTV

Must take “All available collateral”

91© 2009 Wells Fargo Bank, N.A. All rights reserved. For public use.

Scott PeakMarket President

Wachovia Bank

© 2009 Wells Fargo Bank, N.A. All rights reserved. For public use.

601 State St – 3rd Floor

Bristol, VA 24201

(276) 645 – 1230

Scott.peak1@wellsfargo.com

Community and Economic

Development

Community and Economic Development

• Small Business Loans

• Ninth District Development Financing, Inc.

• Training and Technical Assistance

• Consumer Loan

• IDA (Individual Development Accounts)

• New Markets Tax Credit Program

Assistance for Small Businesses

2010

• $766,046 total dollars disbursed

• 30 business started or expanded

• 112 jobs created or retained

Assistance for Small Businesses

• Loans available up to $200,000 for start up or existing businesses.

• Interest Rate – 3% above prime

• Collateral required

• Continuing technical assistance to clients

•Loans for start up

or expanding a

tourism related

business

•Over $4.1 million

dollars disbursed

since inception

Visit our website:

www.nddf.org

NDDF

Ninth District Development Financing, Inc.

Training and Technical Assistance

• Business Basics Workshop

• Core Four Business Planning

Course

• Customer Service Workshop

• Social Media Workshop

Consumer Loan Program

• Loans available up to $20,000

• Interest Rate = Prime + 5.0%

• Terms up to 60 months

• Credit problems understood

• Loans must have collateral

• Loans for:– Home Improvements

– Car Repairs

– Payoff Payday Loans

– Bill Consolidation

Consumer Loan Program

• Program started March 2009

• 162 applications received that were either declined or withdrawn

• 56 loans have been approved

• $199,765 total dollars disbursed

• 9 loans have been paid in full

IDAIndividual Development Account

• Special matched savings designed to help working people develop assets.

• The money needs to be used for certain things:

– Home Ownership

– Secondary Education

– Small Business Ownership

• Service Areas: Counties of Buchanan, Dickenson, Russell, Smyth, Tazewell, and Washington and the City of Bristol.

New Markets Tax Credit• The New Markets Tax Credit Program (NMTC) is a community

development lending tool designed to stimulate the flow of investment in underserved communities by creating new jobs and accelerating economic revitalization.

Grundy Town Center Project

• Phone: 276-619-2243

• Email: bnave@peopleinc.net

• Website: www.whatcanpeopledo.org

Becky Nave Senior Business Trainer/Marketing Coordinator

http:www.facebook/becky.nave

http:www.linkedin.com/in/becky.nave

http:www.twitter.com/becky.nave

Other Business Resources

Sandy Ratliff, Business Services ManagerVirginia Department of Business Assistance

276-676-3768

sandy.ratliff@vdba.virginia.gov

www.vdba.virginia.gov

www.vastartup.org

The Virginia Department of Business Assistance

VDBA supports economic development in the Commonwealth by working with new and existing businesses to provide business and economic development communities with:

• workforce incentives

• financing

• business information and counseling

• state procurement assistance

• educational opportunities

www.vdba.virginia.gov

Ask VBIC = 866-248-8814

Business Information Services

To help businesses get started and to grow.

Formation Assistance Virginia Business Information Center (VBIC) 1-866-248-8814

Bridges the 26 state agencies, over 110 regulatory programs and over 300 forms that may touch a Virginia business

Virginia Central Business Portal (www.business.virginia.gov)

Covers registration, taxation, licensing

Interactive business plan available online at www.vdba.virginia.gov or www.vastartup.org

5 Step process to a business plan

Are you starting a business?

Virginia’s Business One Stop system can help

you determine your business formation requirements and can

pre-fill your business registration forms.

Visit http://www.virginia.gov/bos/index.html to access the Business One Stop System.Create a Business One Stop account.

Answer a few brief questions about your business.

Receive a list of action items and pre-filled business

registration forms.

Questions? Contact the Virginia Business

Information Center

1-866-248-8814 (804) 371-0438

vbic@vdba.virginia.gov

Virginia’s Business One Stop

Winner of the 2009

Governor's Technology

Awards

Ask VBIC = 866-248-8814

Ask VBIC = 866-248-8814

Governor’s ExecutiveOrder 33

$5 billion market Access to buyers from 171 state

agencies Additional $5 billion from local

governments 575 localities using eVA system.

Small Business Goal – 40% Over 44,994 registered suppliers Over 13,065 participating

buyers

Growing Your $ales - State

• Examples of Purchasing:– Soft Drinks

• 11/01/2009 – 10/31/2009 = $1,659,641 - 2967 PO’s

– Souvenirs: Promotional, Advertising, etc.• 11/01/2009 – 10/31/2010 = $257,620.77 - 344 PO’s

– Grounds Maintenance: Mowing, Edging, Plant (Not Tree) Trimming, etc.

• 11/01/2009 – 10/31/2010 = $7,760,607.88 - 1028 PO’s

– Tires and Tubes, Passenger Vehicles• 11/01/2009 – 10/31/2010 = $187,946.28 - 464 PO’s

– Concessions, Catering, Vending: Mobile and Stationary• 11/01/2009 – 10/31/2010 = $18,793,359- 12,993 PO’s

– Building Maintenance• 11/01/2009 – 10/31/2010 = $85,730,848 - 10,422 PO’s

– Earth Moving Equipment Rental• 11/01/2009 – 10/31/2010 = $14,115,179 - 1136 PO’s

– Cleaning Services, Steam & Pressure• 11/01/2009 – 10/31/2010 = $5,024,911- 215 PO’s

One–on-One Counseling Sessions

Need Based:– Accessing New Markets/Sales Growth

– Tailored Sales Development Solutions

– Financing Resources

– Social Media for Your Business

To schedule an appointment, contact:

Sandy Ratliff, Business Services Manager276-676-3768

Email: sandy.ratliff@vdba.virginia.gov

Entrepreneur Workshops

• Launched October 2006

• Partnership with Service Providers and localities

• Provide information on available resources to start and grow a business

• Statewide Program

• Free – ½ Day Session

• Over 8,000 reached

• www.vastartup.org

Growing Your $ales Workshops

Business Sales Growth Program Market Research and Expansion Financing Growth Management

Partnered events for SWAM certification and eVA registration

Networking with businesses and government buyers

Social Media WorkshopsYou-Link-Twit-Face

Upcoming Events:

•March 10, 2011 - Christiansburg

Virginia Jobs Investment Program

• Workforce recruiting and training

– Create minimum 25 net new jobs within 12 months and

capital investment of at least $1,000,000

– Minimum entry-level wage of $10.00/hr required. Only full-

time jobs are eligible.

• Small business workforce recruiting and training

– 250 employees or less, hiring at least 5 new full time

employees within 12 months of operation and capital

investment of at least $100,000

– Minimum entry-level wage of $10.00/hr required. Only full-

time jobs are eligible.

• Retraining

– Small businesses that are retooling and installing new

technologies

– Company must retrain minimum 10 full-time employees.

Financing Programs

• Direct Lending: In partnership with banks and other lenders, we provide direct loans in economic development transactions. We also provide direct loans under specific programs designed to promote environmental stewardship and assist licensed daycare centers and family home providers.

• Indirect Lending: We provide loan guarantees or other types of credit enhancements to commercial banks in order to increase access to capital for businesses.

• Conduit Financing: We are the statewide conduit issuer of tax-exempt industrial development bonds for manufacturers and 501c3 organizations.

OTHER AVAILABLE RESOURCES

• Virginia Department of Labor – Apprenticeship Program– Combination of on-the-job training and classroom instruction.– Advantage of skilled workforce and reduced turnover.– http://www.doli.virginia.gov

• Virginia Department of Agriculture & Consumer Affairs– Virginia’s Finest Trademark = Marketing program that promotes foods and

foods products grown in Virginia.– Facilitates expansion of agricultural businesses.

http://www.vdacs.virginia.gov

OTHER AVAILABLE RESOURCES

Virginia Business Incubator– 7 Available in Southwest Virginia

– 28 Within Commonwealth

– Business Incubator Benefits

• Facility designed to assist businesses to become established and sustainable

• Benefits

– Shared premises and business services

– Business advice and mentoring assistance

– More details - http://www.vbia.org/

Business Incubator

Light Manufacturing Space Commercial KitchenShared Amenities

Starting and Growing a Business

• Business Formation Assistance– Small Business Development Center Network = www.virginiasbdc.org

– SCORE = www.score.org

– Virginia Business Information Center = 866-248-8814

– Virginia Central Business Portal = www.business.virginia.gov

– Virginia Business Incubator Association = http://www.vbia.org/

Marketing Resources

• SCORE = www.score.org

• Virginia Tourism Corporation = www.vatc.org

• Virginia Department of Agriculture – Virginia’s Finest Trademark = www.vdacs.virginia.gov

Financing Resources• Virginia Small Business Financing Authority =

www.vdba.virginia.gov

• Small Business Development Center = www.virginiasbdc.org

• Small Business Administration = www.sba.gov

• Local Economic Development Office or Chamber of Commerce

“If you always do what you’ve

always done, You will always

get what you’ve always got!”

Lets Connect:Sandy Ratliff

The Virginia Department of Business Assistance276-676-3768

sandy.ratliff@vdba.virginia.gov

Online:Twitter: http://twitter.com/sandyratliff

Facebook: http://www.facebook.com/sandy.ratliff

LinkedIn - http://www.linkedin.com/in/sandyratliff

YouTube - http://www.youtube.com/user/vastartup

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CONTACTS

• Sandy Ratliff, Virginia Department of Business Assistance = 276-676-3768 or VBIC = 866-248-8814

• Kitty Barker, Virginia Tourism Corporation = 276-466-8772• Steve Willinger, SCORE = 423-989-4866 • Dallas Garrett, Crossroads SBDC = 276-730-3019• Becky Nave, People, Inc. = 276-619-2243• Scott Peak, Wachovia Bank = 276-645-1230

• Oliver McBride, Southwest Regional Enterprise Center = 276-236-0435

• Kenneth McFadyen, Blue Ridge Crossroads Economic Development Authority = 276-236-0391