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Resources for Self Employment Services
Resources for Self Employment Services
Resources for Self Employment Services
Resources for Self Employment Services
Resources for Self Employment Services
Resources for Self Employment Services
Resources for Self Employment Services
Resources for Self Employment Services
Resources for Self Employment Services
Resources for Self Employment Services
Resources for Self Employment Services
Resources for Self Employment Services
Resources for Self Employment Services
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Resources for Self Employment Services

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  • 1. Resources for Self Employment Services for Individuals with Disabilities Presented by Patti Lind
  • 2. The Abilities Fund is the first and only nationwide community developer and financial lending institution targeted exclusively to advancing entrepreneurial opportunities for Americans with disabilities - -
  • 3. Self Employment as a Vocational Goal <ul><li>From an individual perspective </li></ul><ul><ul><li>Business is a cornerstone of the American Dream </li></ul></ul><ul><ul><li>People who report a work disability are nearly twice as likely to be self-employed (14% vs. 8% - US Census) </li></ul></ul><ul><li>From a service-provider perspective </li></ul><ul><ul><li>The national average of VR case closures due to self employment is still 2.6% (RSA) </li></ul></ul><ul><ul><li>Encourages self-determination and allows an individual to plan his/her vocational goal </li></ul></ul><ul><li>From a business perspective </li></ul><ul><ul><li>Can be a source of social and economic empowerment </li></ul></ul>- -
  • 4. Iowa’s Entrepreneurs with Disabilities Program (EWD) <ul><li>Partnership: </li></ul><ul><ul><li>Iowa Department of Economic Development &amp; </li></ul></ul><ul><ul><li>Iowa Finance Authority </li></ul></ul><ul><ul><li>Iowa Vocational Rehabilitation Services </li></ul></ul><ul><ul><li>Iowa Department for the Blind </li></ul></ul><ul><li>13 th year of operation </li></ul><ul><li>340+ businesses, 1,000+ applicants </li></ul><ul><li>Sustainability rate exceeds national average (50%) </li></ul><ul><li>Businesses employ others with disabilities </li></ul><ul><li>Business owners are demonstrating they can replace Social Security benefits with business income </li></ul>-4-
  • 5. Defining Business Operations: When People Go Into Business . . . <ul><li>Accommodates disability </li></ul><ul><ul><li>Full Time vs. Part Time </li></ul></ul><ul><li>Links underutilized skill sets &amp; knowledge </li></ul><ul><li>Self determination is realized </li></ul><ul><li>Cultivates life long work habits </li></ul>- -
  • 6. Good Business Ideas... <ul><li>Provide clarity in all aspects through business planning </li></ul><ul><ul><li>Defining business concept </li></ul></ul><ul><ul><li>Understanding market need &amp; demand </li></ul></ul><ul><ul><li>Financial feasibility </li></ul></ul><ul><li>Well matched to individual </li></ul><ul><li>Feasibility is measurable! </li></ul>- -
  • 7. Meeting the Needs of Promising Entrepreneurs <ul><li>Online Business Development Tools ~ Summer 2007! </li></ul><ul><li>www.abilitiesfund.org </li></ul><ul><li>Informed Choices © </li></ul><ul><li>Data Collection Tool for Personal Assessment </li></ul><ul><li>Financial Literacy </li></ul><ul><li>Financial Planning for Microenterprise </li></ul><ul><li>Feasibility First © </li></ul><ul><li>Assessing Business Feasibility </li></ul><ul><li>Planning for Business Success! </li></ul><ul><li>Completing the Business Plan </li></ul><ul><li>Online Microloans </li></ul><ul><li>For Business Start Up, Expansion, and Stabilization </li></ul>- -
  • 8. Assessing Individual Potential with Informed Choices © Data Collection Tool <ul><li>Unique combination of data to inform the individual and business facilitators </li></ul><ul><li>Individual Preparedness </li></ul><ul><ul><li>Work history </li></ul></ul><ul><ul><li>Business-related technical soundness </li></ul></ul><ul><ul><li>Financial track record </li></ul></ul><ul><ul><li>Disability-related issues related to business </li></ul></ul><ul><ul><li>Personal motivators </li></ul></ul>- -
  • 9. Financial Literacy <ul><li>Financial Planning for Microenterprise </li></ul><ul><li>Are you ready to start a microenterprise? </li></ul><ul><ul><li>Setting the Goal </li></ul></ul><ul><ul><li>Understanding How Your Financial Health May Impact Business Development </li></ul></ul><ul><ul><li>Building your Assets: Saving for Business </li></ul></ul><ul><ul><li>Understanding Debt </li></ul></ul><ul><ul><li>Managing Expenses </li></ul></ul><ul><ul><li>Financial Skills for Business Owners </li></ul></ul>- -
  • 10. Assessing the Business Idea: Feasibility First © <ul><li>Concept Feasibility : </li></ul><ul><ul><li>Business idea + Management Capacity </li></ul></ul><ul><li>Market Feasibility : </li></ul><ul><ul><li>Geographic Area + Competition + Markets </li></ul></ul><ul><li>Financial Feasibility : </li></ul><ul><ul><li>Adequate Capitalization + Resources </li></ul></ul>- -
  • 11. Planning for Business Success: Completing the Plan <ul><li>Building on Feasibility First © </li></ul><ul><ul><li>Comprehensive Business Plan </li></ul></ul><ul><ul><ul><li>Executive Summary </li></ul></ul></ul><ul><ul><ul><ul><li>Defining the Business </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Organizational Structure </li></ul></ul></ul></ul><ul><ul><ul><li>Market Plan </li></ul></ul></ul><ul><ul><ul><ul><li>Market Analysis </li></ul></ul></ul></ul><ul><ul><ul><ul><li>12 Month Plan for Marketing Products/Services </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Plan for Engaging Customers </li></ul></ul></ul></ul><ul><ul><ul><li>Financial Plan </li></ul></ul></ul><ul><ul><ul><ul><li>24 Months of Financial Projections </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Break-Even Analysis </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Plan for Recordkeeping and Bookkeeping </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Plan for Engaging Funding Sources </li></ul></ul></ul></ul>- -
  • 12. Access to Capital: Microloans for Entrepreneurs* <ul><li>Loan Program Goals* </li></ul><ul><ul><li>Loans from $500 - $25,000 </li></ul></ul><ul><ul><li>Up to 60 months </li></ul></ul><ul><ul><li>Inventory, Equipment, Licensing, Marketing and other Start Up Costs </li></ul></ul><ul><li>Direct Loans with Loan Guarantees in States with Disability Program Navigators: </li></ul><ul><li>AZ, CA, CO, DE, FL, IL, IA, MD, MS, NY, OR, OK, SC,VT, </li></ul><ul><li>WI, AK, HI, IN, MI, MN, MO, NE, NJ, RI, TN, TX, VA, WV &amp; the District of Columbia </li></ul><ul><li>Assistance in Organizing Participation Loans </li></ul><ul><li>* Pending </li></ul>- -
  • 13. For more information, contact: Patti Lind The Abilities Fund [email_address] www.abilitiesfund.org

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