|
|
Dear SCORE Clients and Associates,
The Greater Lynchburg Chapter of SCORE has some news to share with you:
|
Greater Lynchburg SCORE
Federal Building
1101 Court Street, Suite A42
Lynchburg,
VA
24504
(434) 846-3235
news@lynchburgscore.org
http://www.lynchburgscore.org
|
Join our E-mail List
Don't miss any of the news and announcements we have to share!
Greater
Lynchburg SCORE publishes a periodic e-newsletter that covers a
variety of business-related topics and other
information of interest to our clients and associates in the Region 2000
small business community. We also send out periodic e-mails to
announce workshops and other items of immediate interest. You may sign
up to receive these e-mails through the link at the top of this newsletter or through our
website at http://www.lynchburgscore.org.
If
you missed our last newsletter which featured the article, "Doing
Business with State and Local Government," it is still available by clicking here.
|
Success Secrets
Why now is the best time to start a business
|
Recommended Reading
The value of a business plan!
Forbes.com recently published a short article titled "Building Your Own Business: A successful start-up needs more than a great idea." This
article emphasizes the value of a business plan in developing your
business, and important factors to consider in preparing the plan.
|
|
Financing Your Business
What you need to know about the SBA Loan Programs
Every
business needs financing for initial working capital and equipment,
expansion, inventory, etc. Sources of financing may include: - Personal funds (savings, home equity, support from family or friends)
- Bank loans (credit cards or unsecured lines of credit, or loans secured by assets as collateral)
- Peer investments (partnership, equity investment, informal network loan).
The
economic downturn has in some ways made small business startups more
attractive than before. Rents and other expenses in many cases are
lower, existing businesses may be available for purchase at a reduced
price, and opportunities to sell goods or services efficiently to
cash-strapped consumers may be increased. Small businesses employ about
50% of the U.S. workforce, and are responsible for about 70% of new job
creation. After the 2001 recession "micro-enterprises" (under five
workers) created a million new jobs. Many people who lose a job in a
larger enterprise respond by starting a small business -- which not
only survives but prospers.
In this month's newsletter, we will
concentrate on bank financing supported by the Small Business
Administration's (SBA) flagship 7(a) program, and micro-loans made with
SBA funds through local non-profit lenders. The American Recovery and
Reinvestment Act (a.k.a. the "stimulus package") passed by Congress and
signed into law earlier this year has enhanced both of these programs. Read more!
|
Remember, your success is our reward!
|
|
|
|
Brought to you by the Greater Lynchburg Chapter of SCORE "Counselors to America's Small Business," a nonprofit association and resource partner with the U.S. Small Business Administration.
SCORE is dedicated to entrepreneurship and the formation, growth and
success of small businesses nationwide. Since 1964, SCORE has helped
more than 8 million entrepreneurs.
We
do not sell, rent or trade the names on our email list. Your email
address is only used to send messages from SCORE. Visit SCORE to view SCORE's Privacy Policy.
© Copyright 2009. Greater Lynchburg SCORE. All rights reserved.
|
|
|
|
Forward To a Friend