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SBDC Orientation

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The SBDC is a great resource for your small business to learn how to write your business plan, access capital, social media consultation and most of our services are no cost or very low cost thanks to multiple funding sources like the SBA.

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SBDC Orientation

  1. 1. Hosted by:
  2. 2. America’s SBDC The Best Kept Secret for Growing Your Business Presented by Lawrence R. Johnson Advisor, Small Business Development Center hosted by El Camino College
  3. 3. It’s all about having a business strategy! • Financial Plan • Marketing/Product Strategy/Sales • Customer Service • Business Processes
  4. 4. Small Business Development Centers •What is the SBDC? •National & Local Program •What distinguishes the SBDC? •El Camino College SBDC Services
  5. 5. Small Business Development Centers What is the SBDC? • Provides no-cost 1:1 consulting to the small business community • Assistance with obtaining financing for growth/expansion • Provides low-cost training/workshops • Helps generates positive economic impact Retains/creates jobs Increase in sales Help start businesses Access to capital ($$)
  6. 6. Small Business Development Centers SBDCs are a SBA Program • Largest Economic Development Program for the SBA - $105 Million (FY 2014) • SBA sets national performance goals • SBA contracts with 63 Lead Centers nationally • Lead Centers contract with centers (900 in the US) • Lead Centers/SBDCs are based on SBA districts • Association of Small Business Development Centers (ASBDC) – Accreditation
  7. 7. SBDC Services Existing Business (Growth Planning) •Rebranding and Market Identification •Advanced Web Development (Shopping Cart, SEO, Email Segmentation, etc.) •Tax and Accounting Preparation •Government Procurement and Certification •Financial Packaging Assistance •Hiring •New Employees (available subsidies) •Permitting, Product Pricing, Succession Planning •Franchise Development •International Trade (Importing/Exporting) •Specialized assistance by industry (e.g. lean manufacturing, emerging technology, retail, beauty, food and hospitality.) New To Business (Operations Management) •Financial Packaging •Contract Negotiations •Cash Flow Management and Financial Statement Preparation •Brand Creation and Development •Competitive Assessment •Target Market and Customer Identification •Marketing Channel Identification, Implementation, and Measurement Pre-Venture (Startup Preparation) •Business Planning •Financial Projection •Exploratory Funding •Lease Negotiation •Human Resource Management •Bookkeeping •State and Federal Tax Setup and Preparation •Web Development •Merchant Account Services (if applicable) •Franchise Purchase
  8. 8. SBDC Overview •Long Beach Community College District – Host for Lead Center for Los Angeles District Office •Service counties of Los Angeles, Ventura, and Santa Barbara •Network Funding is 7th Highest in the United States - $3.5 Million from SBA Annually •Over $7.0 Million Budget with matching funds
  9. 9. SBDC Overview • Over 100 SBDC team members (Directors, Staff, Business Advisors, Interns) • 8 SBDCs (Service Centers) • 2 Specialty Centers (Bixel Exchange for technology/Long Beach for International Trade) • Over 30 Service Delivery Points
  10. 10. SBDC Overview • Proven outcomes for clients • Small business expertise • Industry expertise • Long-term client relationships • Business advisors are paid & held accountable • Business advising offered in 6 languages (English, Spanish, Mandarin, French, Armenian, & Arabic) • Success stories to help publicize small business successes • SBDC resources through services (GIS/SBDCNet etc.) • SBDC partnerships with local, federal, state organizations
  11. 11. SBDC Overview Main service locations include Long Beach City College (Long Beach), El Camino College (Hawthorne), Pacific Coast Regional (Korea town), Bixel Exchange (Downtown), Pasadena City College (Pasadena), University of La Verne (La Verne), College of the Canyons (Santa Clarita), and Ventura Economic Development Collaborative (Ventura).
  12. 12. El Camino College SBDC Delivers 2014 Results 1,570 small businesses served through advising and training 2,570 hours of business advising 124 training events to over 1500 attendees Economic Impact 62 new businesses created 290 Jobs Created/Retained $4.55+ Million in Equity Infusion & Loans $5 Million Increase in Sales Lots of happy clients!!
  13. 13. El Camino College SBDC Services Growth planning and operations management for existing businesses, and start-up preparation for new businesses, along with specialty advising on: Manufacturing Food Packaging/Restaurants International Trade Government Contracting Business Loans/Equity Financing Business Valuation Social Media, Web Sites, Video Marketing HR, Contracts, Payroll, Business Tax Obligations Legal Structure
  14. 14. Financial Assistance Loan consulting and application/packaging, lender selection assistance for all types of business loans: Credit cards/Lines of credit Factoring Equipment loans Industry specific loans Start-up financing Mortgage refi’s for the purpose of business financing Alternative financing
  15. 15. Financial Assistance Loan consulting and application/packaging, lender selection assistance for: All SBA Loans • 7 (a)-up to $5 million-acquire land, building a building, acquire inventory/fixed assets, purchase/start a business, leasehold improvements and more. Max. 25-year term for real estate/10-years for working capital, etc. • 504 Loan-Up to $5 million for the acquisition of long term fixed assets with a useful life of at least 10 years, refinance asset debt and/or provide working capital under certain conditions.
  16. 16. An Example of a Success Story “My business advisor coached me in what to say and what not to say, and helped me [understand] what [lenders] are really looking for, especially when it comes to the restaurant business.” - John Mentesana, Founder, Locale 90 Neopolitan Pizza Market CHALLENGES •Business planning •Financing SOLUTIONS •SBDC reviewed business plan and financial projections •Assisted client with loan documentation •Connected client with community lender VEDC •Obtained an SBA 7(a) business loan for $200,000
  17. 17. Contact Information Some Things to Consider • Research/Feasibility of Your Idea • How Will You Make Money?? How Much Money Do You Need/Want to Make? What are Your Financial Objectives? • Vision/Goals for Your Business-What Do You Want Your Co. to Represent/How Will You Achieve Your Vision? • Business Structure/Tax Implications • Licensing/Permit Requirements • Recordkeeping/Accounting • Marketing Strategies-Who is Your Target Market and How Will Your Reach Them? • What Are Your Actions Plans for Implementation/Growth? Write Them Down-Business Planning • Your Business Advisor is Your BFF! Starting Your Business
  18. 18. Contact Information SCORE-https://www.score.org SBA-www.sba.gov SBA Resource Guide: https://www.sba.gov/about-sba/what-we- do/resource-guides Go Biz-https://business.ca.gov/ Goldman Sachs-www.SoCal10KSB.com Additional Resources
  19. 19. Contact Information Client/SBDC Relationship • Confidential Assistance • Home Center/Core Consultant • Assignments • Keep Appointments-on time, no shows, reschedules, late arrival • Five Hours of Consulting/Assistance-Your Reward one free workshop excluding QB • Reporting Results Starting Your Business
  20. 20. Contact Information El Camino College SBDC (310) 973-3177 sbdc@elcamino.edu www.southbaysbdc.org www.facebook.com/southbaysbdc Located at off campus at: El Camino College Business Training Center 13430 Hawthorne Blvd. Hawthorne, CA 90250 Contact Information
  21. 21. Sub topic @SBDCLosAngeles facebook/SouthBaySBDC CONNECT WITH US

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