Business Concept and Validation:

The SBDC works with clients to perform a feasibility analysis of the proposed startup business, including market identification, market entry, breakeven budget, and market pricing data. The SBDC guides clients through the steps necessary to validate the business idea through potential customer feedback or test sales.

Permits and Licenses:

The SBDC defines the permit project scope, identifies the required permits for the project, and provides contact information for the correct agency.
Fictitious Business Name:The SBDC defines the regulations regarding the business name intended and assists clients in the business name filing process.

Business Concept and Validation:

The SBDC performs a feasibility analysis with the client of the proposed startup business, including market identification, market entry, breakeven budget, and market pricing data. The SBDC further uses information research to conduct a business validation of the startup concept through target customer feedback.

Demographic Analysis:

The SBDC outlines the demographic data needed to validate the client’s startup business. Resources, both free and fee-based, are recommended that will define the suggested demographic information. Upon completion of the research, the SBDC will help analyze the data to determine and validate the startup business assumptions.

Franchising Opportunities:

The SBDC develops a feasibility analysis with the client for a proposed franchise purchase. A financial analysis to validate the feasibility of the franchise purchase is also completed.

Financial Projections:

The SBDC will help you forecast future revenue and expenses to help you pitch to potential investors, for inclusion in your business plan or for other funding opportunities. Depending on the industry, the SBDC can recommend development of either/or short or mid-term projections.

Access to Capital:

The SBDC helps determine the feasibility of accessing various types of private or public financing for the client’s business by analyzing the client’s business financial statements and credit history against lender requirements. The SBDC also helps the client in determining an action plan and timeline for obtaining capital.

Loan Packaging:

The SBDC collects lender requirements for clients seeking business loans. Preparation of the client’s business financial statements, loan narratives, and other necessities required by lenders for a loan package are completed with the aid of the SBDC. One of the most valuable aspects of this service is the SBDC will shop your loan to our network partners to help you obtain the best terms and rates.

Quickbooks:

The SBDC develops proper structures in Quickbooks for clear determination of specific financial activities of the client’s business. Upon analysis of the business activity structures, the SBDC can then help create a plan for the improved management of the client’s business financials.
Bookkeeping/Accounting: The SBDC helps the client establish business accounting procedures and standards that ensure proper financial management and legal compliance.

Tax Planning:

The SBDC works with the client and his or her needs and objectives to develop a tax strategy that identifies incentives and rebates for the client’s business while complying with regulations. Resources and referral partners are also suggested to the client.

Merchant Services:

The SBDC outlines required electronic equipment and software packages needed by the client’s business with regards to electronic transactions, such as credit or ATM cards. The SBDC also weighs cost-benefit between different merchant service providers and can also provide information on EMV chip requirements and risk management.

Incorporation and Business Tax Structure:

The SBDC will discuss the legal and tax benefits as well as drawbacks to different legal strucure. Wec onsult our clients on the best option for the business.

Lease Negotiation:

The SBDC instructs clients on how to prepare an analysis of potential lease agreements to determine advantages and disadvantages of each option. Then, a cost analysis based on the targeted leases is developed.