tag:blogger.com,1999:blog-17972063335044047872024-02-19T00:07:47.317-05:00Score Lancaster BlogScore Lancaster Blog
Small Business Planning
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MentoringSCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.comBlogger39125tag:blogger.com,1999:blog-1797206333504404787.post-66331936688232873862010-02-03T17:52:00.004-05:002010-02-03T17:55:45.015-05:00Fast Trac Workshop by SCORE Lancaster, March 2010Lancaster, PA -- Gerard Glenn, President of the Lancaster Chapter of SCORE announced its sponsorship of the First Step FastTrac class for this Spring. First Step is a twelve week course which teaches budding entrepreneurs how to start their own small businesses. The series, co-sponsored by SCORE and ASSETS Lancaster, is the second one to be held in Lancaster. <br /><br />"Our first course last Fall was so successful, we decided to hold it again," Glenn said. "We graduated 19 students who are looking to open businesses ranging from restaurants and remodeling contractors to accounting and veterinarian services. Their response to the program was simply outstanding."<br /> <br />The comprehensive course - developed by the prestigious Ewing Marion Kauffman Foundation in Kansas -- teaches students the basics of starting their own businesses including in-depth sessions on how to conduct a feasibility study, how to market your business, pricing your product, how to prepare accurate budgets and financial projections, how to write a business plan and how to find funding for your start-up. Each course is taught by successful businessmen and women from the Lancaster area and includes lectures, hands-on entrepreneurial experiences and individual and group coaching and mentoring. <br /><br />"The sessions included all necessary aspects you need to know when you plan to start a business. They were clear and easy to follow step by step. The entrepreneur's handbook, the extra information, the email message follow-ups to all sessions were fabulous!", according to Nilda Vega, a Fall graduate. <br /><br /> "We've taken the suggestions of our first group of graduates and made the course even better, " said Lou Davenport, the FastTrac� instructor. "We've added more time with the individual coaches; increased the amount of hands-on time students have in our computer lab with the financial templates; and will tailor the business examples we use to meet the specific needs of the local businesses students want to start up." <br /><br />The First Step FastTrac�course takes place every Tuesday night, beginning March 2, 2010 and runs from 6 to 9 PM. It is held at the Earl B. Hess Training Center, located in the ASSETS building at 237 North Prince Street in Lancaster. <br /><br />Tuition for the course ranges from $75 to $575 and is based on household income. Some tuition reimbursable scholarships are available thanks to a grant from Lancaster County Housing and Redevelopment Authority. <br /><br />For more information on the upcoming courses, please contact: SCORE at (717) 397-3092 or Maria Iniesta at (717) 393-6089 or visit: www.scorelancaster.org.<div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-40501593598281065712010-02-01T14:21:00.002-05:002010-02-01T14:25:09.129-05:00SCORE Helps Baby Boomers Drive the EconomyBy Beth Fowler, Central Penn Business Journal<br />January 28, 2010<br /><br />Many economists believe baby boomer entrepreneurs will drive the economy toward health.<br /><br />Surprised? Score volunteers throughout Central Pennsylvania aren't. The largest age group of our population also is the most entrepreneurial.<br /><br />Compared with their predecessors, people born between 1946 and 1964 are experiencing increased longevity and better health as they age. Those trends -- combined with a reputation for being socially conscious, productive and having a positive effect on society -- help explain the forces compelling baby boomers to start their own businesses.<br /><br />Of course, a drop in the number of so-called "lifetime" jobs provides motivation to run one's own enterprise, too.<br /><br />Tom Burgum of Lancaster Score and his counterparts at the other local chapters want to clear up a misconception about the nonprofit organization. "Many people seem to believe Score focuses only on emerging businesses," Burgum said. "Score counselors mentor existing small businesses as well as start-ups."<br /><br />As the economy showed signs of stalling, many businesses significantly reduced their budgets and can't afford to hire consultants and experts in sales, marketing, management, costs, etc. Score offers many free and low-cost services dealing with those very issues to help businesses remain successful.<br /><br />Mike Atkins said he noticed a change in the type of clients coming to York Score a couple of years ago.<br /><br />"We started seeing more clients who had been running successful businesses for several years," he said. "They were facing tough problems -- fewer contracts in the pipeline, funds drying up."<br /><br />For that reason, Atkins knew it was important to get the word out to the business community that Score's programs aren't only for new businesses.<br /><br />"A visit to Score isn't a one-shot deal," Harrisburg's Andy Green explained. "Our business advisers can become ongoing mentors, an unbiased team of professionals who will listen and help business owners separate the trees from the forest."<br /><br />About half of the face-to-face and online sessions between Score advisers and clients are follow-on cases in which the clients are not new to Score, but are returning for more guidance, more brainstorming, more tools and techniques for survival.<br /><br />Typically, on-going mentoring takes place at the client company's site. It was described by the owner of an office equipment sales and service company as being "like a board of advisers that I don't have to pay."<br /><br />Running a business always involves risk. Score CEO Kenneth Yancey said, "You'll have to continue to keep a sharp eye on expenses and pay close attention to collecting your receivables to stay afloat. Even in a flush economy that's how small business should operate to stay on the positive side of cash flow. Today's economy just makes the challenge a bit tougher. But I know you can do it."<br /><br />Score is here to help small businesses do it.<br /><br />Lancaster Score, for example, conducted 13 roundtables at which participants shared issues, solutions and best practices geared toward specific industries. Last year 1,776 people attended the business planning workshops hosted by local Score chapters.<br />Score chapters sponsored new workshops on topics such as marketing on the Web, search engine optimization and QuickBooks. York Score in cooperation with York County Economic Development Corporation organized the timely seminar "Struggling with Sales?"<br /><br />Chapters have developed strategic partnerships to strengthen services to clients. For instance, to see the range of alliances Reading Score has forged, visit www.Reading008score.org. Each chapter has its own content-rich, user-friendly Web site with links to other sites important to start-up and existing businesses. <br />Capital is harder for business owners to get, so Score chapters responded in a variety of ways: initiating micro-loan programs, having bankers provide insight into sources of capital and requirements for obtaining it, making clients aware of the Community First Fund and of SBA-guaranteed loans.<br /><br />"The counselors found that sometimes just asking the hard questions to reorient thinking was a great help to our clients," Burgum said.<br /><br />Knowing that today's entrepreneurs prefer laptops over three-ring binders, Pottstown Score, to name one, offers online workshops and several chapters e-mail newsletters to clients and strategic partners.<br /><br />Because the skills and tools needed to succeed in business are ever-changing, National Score decided years ago to recruit volunteers who are actively employed. Today, nationally and locally, nearly 40 percent of Score's volunteers are employed. I'm a case-in-point. Grateful for the role Score has had in my success as a business owner, I became a Score volunteer as well as a Score client.<br /><br />More than 170 volunteer business counselors keep the local district Scores running smoothly. They are current and former business owners. They are professionals from corporations and nonprofit organizations. Some are retired, some are semi-retired and some are enjoying their second or third careers. The men and women range in age from thirtysomething to ninetysomething.<br /><br />It's no surprise that many of the volunteers at Score, like many of the entrepreneurs they advise, are baby boomers. People ranging in age from 45 to 63 have the highest volunteer rate of any group of Americans, according to a 2005 study by the Corporation for National & Community Service.<br /><br />Score has numerous services to choose from to meet entrepreneurs' needs. Counselors with real-world experience in whatever issues you're tackling are available.<br />"Even if you're doing well in business, a mentor can confirm that or suggest changes," said a client who received ongoing help from Score before buying out her partner's portion of their business.<br /><br />According to a recent Kauffman Foundation study, baby boomers are in the driver's seat of our country's economic recovery. If you know someone whose business idea needs a tune up, tell him or her about Score. Whether you're a baby boomer, if you own a small business or are thinking of starting one, you don't have to drive alone.<br />•<br />Beth Fowler is a Score volunteer in York. To find out more about Score in Harrisburg, go to www.panetwork.com/Score; in Lancaster www.scorelancaster.org; and in York, www.yorkscore.org<div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-42508785244948334352010-01-31T12:27:00.002-05:002010-01-31T12:32:18.086-05:00Business Name Registration - DBA - "Doing Business As..."The legal name of a business is the name of the person or entity that owns a business. If you are the sole owner of your business, its legal name is your full name. If your business is a partnership, the legal name is the name given in your partnership agreement or the last names of the partners. For limited liability corporations (LLCs) and corporations, the business' legal name is the one that was registered with the state government.<br /><br />Your business' legal name is required on all government forms and applications, including your application for employer tax IDs, licenses and permits. However, if you want to open a shop or sell your products under a different name, then in Pennsylvania, you will have to file a "fictitious name" registration form with the state.<br /><br />A fictitious name (or assumed name, trade name, or DBA name, short for "doing business as") is a business name that is different than your personal name, the names of your partners or the officially registered name of your LLC or corporation.<br /><br />For example, let's say Mary Smith is a sole proprietor of a catering company she runs out of her house. Mary wants to name her business Riverside Catering instead using her business' legal name, Mary Smith. In order to use Riverside Catering, Mary will need to register that name as a fictitious business name with a government agency. In Pennsylvania fictitious names must be registered with the state government; in other states, you register fictitious names with the county clerk's office; and in some others, there are no laws requiring businesses to register a fictitious business names.<br /><br />Here are links to the requirements for fictitious name filing in Pennsylvania:<br /><br />State DBA Filing Requirements Pennsylvania Pennsylvania Department of State: <br /><br />http://www.dos.state.pa.us/corps/cwp/view.asp?a=1093&q=431168<br /><br />Fictitious Name Registration Requirements<br /><br />Application for Registration of Fictitious Name<br />http://www.dos.state.pa.us/corps/lib/corps/20/7/311.pdf<div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-21749009723509303322009-07-13T21:46:00.001-04:002009-07-13T21:51:29.589-04:00Lancaster Libraries ProgramsThe following classes will be held at the Library System office in Greenfield Corporate Center at 1866 Colonial Village Lane, Suite 107. For more information, contact Rhonda Kleiman, Economic Development Manager, t 717-207-0500 x1225 or <a href="mailto:kleiman@lancasterlibraries.org" mce_href="mailto:kleiman@lancasterlibraries.org">kleiman@lancasterlibraries.org</a><br /><br /><strong>Geodemographic Tools for Target Marketing</strong>, Wednesday July 22 8:00-9:30am OR Tuesday, July 28 6:30-8:00pm<br /><br />You’ve read the article about Simply Map and Local Market Audience Analyst. Now, come and see for yourself what these resources can do for your business. The features and capabilities of these powerful tools will be demonstrated using a variety of practical examples. While these tools are most helpful when marketing to consumers, businesses of all types are sure to find many practical applications. This seminar will be offered on two different dates and times to accommodate various work schedules. When responding, please indicate which session you’d like to attend. A third session is scheduled for September (see below for September events). Presenter: Rhonda Kleiman, Economic Development Manager, Library System<br /><br /><strong>ReferenceUSA Refresher,</strong> Thursday, July 30 8:00-9:00am<br /><br />See a demonstration of ReferenceUSA’s newly redesigned U.S. Businesses module. Many new features and enhancements have been incorporated into this new interface. If you are a regular user of ReferenceUSA, you will want to attend this class to learn how to navigate the changes. If you’ve never used ReferenceUSA before, you will also learn the basic features and capabilities of this invaluable database. Presenter: Rhonda Kleiman, Economic Development Manager, Library System Thursday September 10 6:30-8:30pm<br /><br /><strong>Blog Basics for Beginners</strong>, Thursday September 10 6:30-8:30pm<br /><br />Blogging has become a great way to let off steam, get an audience for your work and even profoundly impact the lives of others. With all the free and simple tools available, there’s no better time to get started. We’ll cover the basics of blogging: where and how to set up a blog, how to choose a topic, how to write compelling content, and more. This course is best suited for those with little or no blogging experience. CD of tools included. Limit is 15 people. Presenters – Kae Kohl & Bede Fahey, Kiwi Marketing Group<br /><br /><strong>Geodemographic Tools for Target Marketing</strong>, Thursday September 17 6:30-8:00pm<br />(See July events above for details)<br /><br /><strong>Competitive Intelligence Certification Program</strong><br /><br />Rhonda Kleiman, Economic Development Manager, Library System of Lancaster County, will be presenting this five-part series in partnership with the Lancaster Chamber of Commerce & Industry and Penn State The Lancaster Center.<br /><br />For a full description of the seminar series, visit <a href="http://www.lancastermarketedge.com/" mce_href="http://www.lancastermarketedge.com/">http://www.lancastermarketedge.com/</a>. Cost of series is $495 for Chamber members and $695 for nonmembers. Register online at <a href="http://www.lancasterchamber.com/event.aspx?eid=1138" mce_href="http://www.lancasterchamber.com/event.aspx?eid=1138">http://www.lancasterchamber.com/event.aspx?eid=1138</a> or call Angi Fritz at 717-397-3531 x172. Please note that this course is being presented as a series and will not be offered as single sessions at this time. A free preview session will be held at the Library System office on Thursday, September 24 from 4:30-5:30pm. Registration for this session is also required.<br /><br />Thursday, October 8– Session One: Introduction to Competitive Intelligence; Scope of Program; Creating Company Lists<br />Thursday, October 15 – Session Two: Company & Industry Information<br />Thursday, October 29 – Session Three: Financial Information; International Information<br />Thursday, November 5 – Session Four: Trade & Regional Business Journals, Magazines and Newspapers<br />Thursday, November 12 – Session Five: Government Information; Web 2.0; General Trend Information; Wrap-up<br /><br /><strong>DUKE Street Business Center Programs </strong><br /><strong><br /></strong>The following free programs will be held at the Lancaster Public Library at 125 N. Duke Street. Since seating is often limited, please register as soon as possible for those programs that are of interest. Contact Diane Pawling or Heather Sharpe at 717-394-2651 x131 or <a href="mailto:dsbc@lancaster.lib.pa.us" mce_href="mailto:dsbc@lancaster.lib.pa.us">dsbc@lancaster.lib.pa.us</a> for more information or to register.<br /><br /><strong>Just for Nonprofits!</strong> Thursday July 30 3:00-4:30pm<br /><br />An overview of nonprofit resources found in the Duke Street Business Center – including a hands-on-demonstration of the Foundation Center’s Foundation Directory Online. As a Foundation Center Cooperating Collection site and the location of the LeadWell Nonprofit Information Collection, the DSBC is a valuable resource for nonprofit information. Presenter – Diane Pawling, DSBC Business Reference Librarian<br /><br /><strong>ReferenceUSA Refresher</strong>, Tuesday August 4 3:30-4:30pm<br /><br />See a demonstration of ReferenceUSA’s newly redesigned U.S. Businesses module. Many new features and enhancements have been incorporated into this new interface. If you are a regular user of ReferenceUSA, you will want to attend this class to learn how to navigate the changes. If you’ve never used ReferenceUSA before, you will also learn the basic features and capabilities of this invaluable database. Presenter: Diane Pawling, DSBC Business Reference Librarian<br /><br /><strong>DSBC Nonprofit Network Event</strong> , Tuesday August 18 3:00-4:30pm<br /><br />The Duke Street Business Center at Lancaster Public Library hosts a free quarterly Nonprofit Network Event for representatives of local nonprofit organizations. This event will begin at 3:00pm with attendee introductions followed by an informal roundtable discussion on the topic of Nonprofit Survival in Tough Economic Times. Each attendee should come prepared to share at least one thing (a new fundraising or cost-cutting effort, etc.) that their organization has done differently in 2009 because of the current state of the economy. The event will conclude with a brief agency highlight and a time to informally swap experiences with colleagues. Registration deadline – August 13, 2009<br /><br /><strong>businessKillers® </strong>Thursday September 3 3:00-4:30pm<br /><br />This educational presentation, designed by industry experts and business owners like yourself, allows you to access how well you have protected your company from the six biggest mistakes that can “kill” a business. Presenter-James McPherson, M&T Bank Corporation Registration Deadline–August 27, 2009<br /><br /><strong>Solving the Mystery of Federal Grants for Nonprofits</strong>!, September 15 3:00-4:30pm<br /><br />Applying for federal grants is not usually an easy, quick way to access funding for your nonprofit. Join us as we attempt to demystify the federal grant process – including the steps involved in 1) searching to see if there are grant opportunities available for your type of organization, 2) the registration process, 3) completing the application, 4) how to choose and track reasonable outcomes, and 5) how to track your completed application throughout this sometimes lengthy labor intensive process. Presenter – Daniel L. Jurman, Director of Development, SouthEast Lancaster Health Services. Registration Deadline – September 10, 2009<br /><br /><strong>Preparing Business-to-Business Mail Lists for Sales or Solicitation</strong>, Thursday September 24 3:00-4:30pm<br /><br />A hands-on training focusing on two of the library’s licensed company databases-- Reference USA and Harris Selectory Online. Includes a detailed comparison of these resources and how they can be used most efficiently to prepare targeted lists (and mailing labels) for business-to-business marketing/sales leads or for nonprofit-to-business solicitations or event invitations. Presenter-Diane Pawling, DSBC Business Reference Librarian. Registration Deadline – September 21, 2009<div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-52234780532066081752009-03-22T22:16:00.003-04:002009-03-22T22:21:47.112-04:00Special April 7 Marketing WorkshopIn today's fragile and challenging economy, having an effective marketing plan is essential to business survival.<br /><br />This special Marketing Workshop is aimed at owners of existing businesses, start-up businesses or anyone thinking about creating a business.<br /><br />SCORE's new marketing workshop helps you:<br /><br />- decide on the right budget<br />- choose the best strategies for maximizing your return on investment<br />- build your plan for continuing profit and growth.<br /><br />Carol Aubtiz, President of Excelsior Marketing, leads the session. For more than thirty-five years Carol has created marketing plans and designed successful strategies for a wide range of businesses, from small family operations to giant international corporations. She has helped clients through four recessionary periods, from the 1970s through the post 9/11 crisis. She writes the weekly marketing e-mail newsletter, The Monday Morning Muse, and is author of the book, "The Entrepreneur's Guide to Marketing."<br /><br />Workshop participants will learn:<br /><br />. How to set goals to generate leads and sales<br />. Best ways to define and prioritize customers to achieve maximum profits<br />. How to establish the right-sized marketing budget<br />. Methods to evaluate media and media choices<br />. How to adjust a plan for seasonality, cycles and market changes<br />. Ways to integrate marketing with media<br />. Developing predictive models for market results<br />. How to measure and evaluate marketing effectiveness<br /><br />This SCORE workshop is presented on Tuesday, April 7 -- 6:30-9:00 p.m. at the SCORE Learning Center, Liberty Place, 313 Liberty Street, Room 231, Lancaster, PA.<br /><br />REGISTER NOW!<div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-50203423942910074282009-03-18T23:46:00.003-04:002009-03-18T23:55:00.660-04:00It's All About WorkshopsThis SCORE Lancaster Blogspot resource is shifting its focus away from timely small business news in order to emphasize the many workshops that SCORE Lancaster offers to help aspiring Lancaster County entrepreneurs. <br /><br />We are planning on making this site a one stop center for people interested in learning more about starting and growing small business.<br /><br />Stay tuned.<br /><br />Visit us at <a href="http://scorelancaster.wordpress.com/">http://scorelancaster.wordpress.com</a> for timely small business news that affects Lancaster.<div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-16590447334957357052009-03-15T18:27:00.002-04:002009-03-15T18:31:23.112-04:00Facts About Federal Grants<div align="justify"><span style="font-family:georgia;">SCORE Lancaster is frequently asked how to get government grants. Many people contact us after viewing late night infomercials which advertise “millions in free money.” They are hoping SCORE can put them in touch with that “free money.”</span></div><span style="font-family:georgia;"><div align="justify"><br />The reality is that the infomercials are hype designed to get unsuspecting people to pay money to buy a “grant information package” or sign up for some grant application software package.</div><div align="justify"><br />It is true that there are many grants shown on the federal government’s website </span><a href="http://www.grants.gov/" target="_blank"><span style="font-family:georgia;">www.grants.gov</span></a><span style="font-family:georgia;">. It is equally true that very few of them are available to individuals and NONE of them are available for personal financial assistance or business start-up help.</span></div><span style="font-family:georgia;"><div align="justify"><br />A grant from a federal agency is an award of financial assistance that will enable the recipient to carry out a public purpose of support or stimulation that is authorized by a law of the United States.</div><div align="justify"><br />In all, there are </span><a href="http://www.grants.gov/aboutgrants/agencies_that_provide_grants.jsp" target="_blank"><span style="font-family:georgia;">26 federal agencies </span></a><span style="font-family:georgia;">offering over 1,000 grant programs annually in various categories.</span></div><span style="font-family:georgia;"><div align="justify"><br />There are many groups and organizations eligible to apply for government grants. Typically, most grantee organizations are government entities (state, local, city, township or special public authorities), educational institutions (school districts, colleges and universities) and not-for-profit organizations. In certain instances small business grants may be awarded to companies that meet U.S. Small Business Administration size standards. </div><div align="justify"></div><div align="justify">The most common size standards are as follows:</div><div align="justify"><br />• under 500 employees for most manufacturing and mining industries<br />• under 100 employees for all wholesale trade industries<br />• less than $6 million for most retail and service industries<br />• below $28.5 million for most general & heavy construction industries<br />• under $12 million for all special trade contractors<br />• less than $750,000 for most agricultural businesses</div><div align="justify"><br />With few exceptions, all federal agencies, and many state and local governments, use these size standards established by SBA. You can search for further information about small business loan opportunities on the </span><a href="http://www.sba.gov/" target="_blank"><span style="font-family:georgia;">Small Business Administration’s website.</span></a></div><p align="justify"><span style="font-family:georgia;">You can also explore other government sponsored loan opportunities at </span><a href="http://www.govloans.gov/"><span style="font-family:georgia;">http://www.govloans.gov</span></a><span style="font-family:georgia;"> .</span></p><p align="justify"><span style="font-family:georgia;">To find a complete alphabetical listing of governmental assistance for individual citizens, visit </span><a href="http://www.usa.gov/Citizen/Topics/Benefits.shtml" target="_blank"><span style="font-family:georgia;">USA.gov website’s Government Benefits, Grants, and Financial Aid page</span></a><span style="font-family:georgia;">.</span></p><p align="justify"><span style="font-family:georgia;">If you are a business or a non-profit and would like more information and answers about government grants that might be available for your situation, contact SCORE Lancaster at (717) 397-3092. The office is open weekdays from 10AM to 2PM.</span></p><p align="justify">Visit our new Blog at http://scorelancaster.wordpress.com</p><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com1tag:blogger.com,1999:blog-1797206333504404787.post-62952054961727899832009-03-05T20:34:00.002-05:002009-03-05T20:40:27.651-05:00Score Lancaster Blog Moves to WordpressThe Score Lancaster Blog is migrating to Wordpress.com because the Wordpress blogging application has features that gives Score Lancaster more flexibility in presenting news and information to you.<br /><br />Please visit us at <a href="http://scorelancaster.wordpress.com/">http://scorelancaster.wordpress.com</a><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-37016554774667005402009-02-28T15:18:00.005-05:002009-02-28T15:28:36.702-05:00Recession Presents Opportunity:Your competition cuts marketing support because business is down due to the recession. This represents an opportunity for you.<br /><br />Contrarian view? Absolutely not. The best time for you to strike is while your competitors are off guard. While they cut support and meet to complain about the recession, seize this opportunity to reach out to your existing customers and find new prospects.<br /><br />Far too many business owners absolutely take the wrong approach. They hunker down, cut marketing budgets and pull back in bad times. The end result is “unattended customers” and less competition for you. Businesses that cut marketing budgets also de-motivate their best salespeople, who start spending more time thinking about getting a new job than a new customer.<br /><br />Economic downturns are a great time to strengthen your relationships with your existing customers as well as your competitors’ customers. Odds are they are not as busy and they may be more willing to spend a more time with you - use the time wisely:<br /><br /><strong>Collect testimonials</strong>: Asking for a testimonial is a contact with your customer that’s not a sales call. Tell them you would like to promote the testimonial and link it to their website, which will promote them as well. Use the opportunity to show your customers you value their opinion, your business relationship, and their business (i.e., dynamic websites, blogs, Scribd, PR news, etc.)<br /><br /><strong>Survey your customers</strong>: Create an opportunity to collect feedback and discuss services and/or products you offer that they may not be fully aware of or completely understand (i.e., email marketing, custom website landing pages, etc.)<br /><br /><strong>Network</strong>: Introduce your customers to people in your network that they consider prospects and ask to meet their business colleagues and associates - an excellent source of referrals (i.e., <a href="http://www.linkedin.com/in/eoecho" target="_blank">LinkedIn</a>, <a href="http://gregmagnus.myplaxo.com/" target="_blank">Plaxo</a>, etc.)<br /><strong><br />Use your “consulting” skills</strong>: Help your customers and prospects save time and money by providing pertinent industry news and educational materials that will help them compete during these difficult times (i.e., email newsletters, white papers and custom publications all have high ROIs).<br /><br />But don’t be fooled. There is also new competition for you - competition from new business start-ups and competitors that have invested in new technologies and lower-cost marketing tactics.<br /><br />Lots of new businesses are created during economic downturns. Layoffs create a lot of entrepreneurs that may soon be targeting your customers with fresh ideas, creative solutions and competitive rates. And, they are targeting your customers using high ROI marketing tactics such as online social networks, email marketing, industry newsletters, dynamic websites (blogs) and related marketing technologies.<br /><br />If you are not already taking advantage of these marketing tools, now is a good time to ask yourself, if not now, when?<br /><br />Don’t forget, the marketing tools mentioned above are low-cost when compared to traditional marketing methods but <em>there is a cost</em>. And, implementation requires resources - consider the costs while developing your 2009 marketing budget. This year will be a difficult time for many and many companies won’t survive. Yours will if you take advantage of the marketing tools available today.<br /><br /><em><span style="font-size:78%;">This post is adapted from an article previously published by SCORE “Ask the Experts” blog which is featured in our blog roll in the right hand column.</span></em><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-81996609471253142602009-02-27T21:54:00.002-05:002009-02-27T22:06:20.931-05:00Ideas to Help Small Business Survive the RecessionLancaster, PA.—Entrepreneurs face challenges on many fronts, including lower consumer spending, rising unemployment and tightening credit. Inflation pressures have hit both businesses and customers. By acting quickly and decisively to protect their business today, local business owners can make it through the recession with a profitable business.<br /><br />SCORE Lancaster Chairman Jerry Glenn says, “Small businesses feel the credit crunch first. We have seen difficulty accessing capital and collecting payments from customers.” Glenn adds, “Don’t wait. Now is the time to meet with a SCORE mentor to make plans to tighten credit policies, cut expenses and look at holding cash in your accounts. Experienced SCORE mentors are here to help you plan actions to survive the recession and grow when the economy turns around.”<br /><br />SCORE Lancaster has fifty experts who offer free and confidential advice to small business owners. SCORE mentors have experience in finance, accounting, management, marketing, sales prospecting and strategic planning. <br /><br />SCORE offers tips for small business owners on Five Recession Pitfalls to Avoid:<br /><br /><strong>Cutting expenses too slowly.</strong> Don’t cut expenses a little bit at a time. Now is the time to look at expenses and decide whether your company needs to cut expenses five, 10 or up to 20 percent. Do what it takes early in the year and bring costs down.<br /><br /><strong>Maintaining the same product and service mix.</strong> Your needs are changing. You can bet your customers needs have changed too. Call your existing customers and ask them what they need. Then, design your product service mix around those needs.<br /><br /><strong>Reducing marketing instead of focusing on marketing</strong>. The company that stands tall, strong and visible in the marketplace has stature and status. Differentiate with strong marketing to drive leads and sales.<br />Lacking systems to free up your time. Streamline your business and become more efficient. Use a handheld organizer to keep track of phone numbers, dates, appointments and meetings. Set a time each week to handle routine tasks, bills and paperwork.<br /><br /><strong>Keeping everything to yourself.</strong> Your team knows the economy is tough and wants to understand what the company is facing and how, together, you can make it through.<br /><br />Lead toward a brighter future by focusing your efforts on today. Since 1964, nationally SCORE “Counselors to America’s Small Business” has helped more than 8 million aspiring entrepreneurs and small business owners through counseling and business workshops.<br /><br />For more information about starting or operating a small business, call SCORE Lancaster at (717) 397-3092<div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-61000929106858132842009-02-25T16:20:00.001-05:002009-02-25T16:22:37.678-05:00Free Online Business Courses from SCOREThe following online training modules are available for starting up a business:<br /><br /><a href="http://www.tsbc.com/sbo/score/viewLesson.aspx?Lid=203&cid=1" target="_blank">Developing efficient systems</a><br />Learn how business systems can give you greater control, add value, lower your costs, improve profits and free up your time.<br /><br /><a href="http://www.tsbc.com/sbo/score/viewLesson.aspx?Lid=204&cid=1" target="_blank">Quick Start Business Plan</a><br />If you intend to start a business, you should write a business plan. It will help you flesh out your ideas, and will be required by your bank and other lenders before they extend you credit, business loans, or overdraft protection.<br /><br /><a href="http://www.tsbc.com/sbo/score/viewLesson.aspx?Lid=205&cid=1" target="_blank">Creating a cash reserve</a><br />This lesson outlines practical ideas and tactics you can use to create a cash reserve in your business. It helps you to plan ahead for cash squeezes by focusing on the financial things you can do to save or generate money.<br /><br /><a href="http://www.tsbc.com/sbo/score/viewLesson.aspx?Lid=206&cid=1" target="_blank">Planning your advertising</a><br />This lesson shows you how to plan and implement your advertising to increase your chances of gaining new customers.<br /><br /><a href="http://www.tsbc.com/sbo/score/viewLesson.aspx?Lid=207&cid=1" target="_blank">Creating customer loyalty</a><br />The lesson explains why loyalty is so important and covers a range of practical ideas you can implement in your business immediately to build loyalty.<br /><br /><a href="http://www.tsbc.com/sbo/score/viewLesson.aspx?Lid=208&cid=1" target="_blank">Establishing advisory boards</a><br />Taking time to complete a business plan before you start your business will reduce the risk of missing something. This quick business plan outlines the main points and will give a clear snapshot of your business idea and its feasibility.<br /><br /><a href="http://www.tsbc.com/sbo/score/viewLesson.aspx?Lid=209&cid=1" target="_blank">Can you afford to start?</a><br />You need a clear idea of how much money you will need to get started and how much you will be able to make. This lesson will show you how to assess various situations using financial templates you can download.<br /><br /><a href="http://www.tsbc.com/sbo/score/viewLesson.aspx?Lid=210&cid=1" target="_blank">Working out your prices</a><br />The lesson will help you to set optimum prices for your goods or services. These enable you to maximize profit, while making sure your prices remain attractive to your market. Along the way, you will find out how to work out costs associated with bringing your products or services to market.<br /><br />Here is a link to SCORE's main course offerings web page:<br /><a href="http://www.score.org/online_courses.html">http://www.score.org/online_courses.html</a><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-48305399340345454622009-02-25T16:08:00.003-05:002009-02-25T16:17:36.136-05:00SCORE Provides Free Online Business Courses 24/7SCORE provides useful online courses to help you with dozens of small business questions. The courses are free and confidential. They are available 24/7<br /><br /><strong>They're Practical and Interactive</strong><br /><br />Our modules are designed as 'hands-on' learning experiences. As you work through each module, you'll be asked to:<br /><br />Enter your thoughts and responses to questions and queries<br />Input details relating to your business<br />Make choices about what you want to implement in your business<br /><br /><strong>You get lots of help along the way</strong><br /><br />Along the way you'll get plenty of help:<br />Suggestions on what you can input<br />Ways that you can improve your business<br />Tactics you can implement<br /><br /><strong>You'll also get help from</strong><br /><br />Downloads of useful articles, templates and business tools<br />Examples of what other businesses have done<br />Tip boxes<br /><br /><strong>Your Courses are saved for review or action</strong><br /><br />All the information you select, or work you complete will be saved and stored for your review or later use. You can print out a customised Action plan at the end based on this input, and you can also come back at any time to amend any of the choices or input you've made.<br /><br /><strong>They're customized and convenient</strong><br /><br />The key is that you will be able to customize the workshop for your own business. Rather than working on 'case studies' of imaginary businesses you actually get to work on your own business!<br /><br />The online modules are not like formal text-book training where there are exams or tests. Instead we offer real-life experience of the challenges facing small businesses like yours. All the work we encourage you to do is based on your own business.<br /><br />The best way to see how it works is to get started. Here is a link to the sign-in web page:<br /><br /><a href="http://www.tsbc.com/sbo/score/userRegister.aspx?ReturnURL=http://www.tsbc.com/sbo/score/viewLesson.aspx?Lid=209&cid=1">http://www.tsbc.com/sbo/score/userRegister.aspx?ReturnURL=http://www.tsbc.com/sbo/score/viewLesson.aspx?Lid=209&cid=1</a><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-38567607192587939962009-02-23T17:55:00.001-05:002009-02-23T17:58:55.286-05:00Federal Stimulus Bill Impacts SBA<span style="font-family:georgia;">WASHINGTON – The American Recovery and Reinvestment Act contains a package of loan fee reductions, higher guarantees, new SBA programs, secondary market incentives, and enhancements to current SBA programs that will help unlock credit markets and begin economic recovery for the nation’s small business sector. </span><br /><br /><span style="font-family:georgia;">“The tax incentives and credit stimulus elements of the Recovery Act will truly help small business owners affected by the credit crunch, and will provide financing opportunities to help them create new jobs in their communities,” said Acting SBA Administrator Darryl K. <span class="blsp-spelling-error" id="SPELLING_ERROR_0">Hairston</span>.<br /><br />The bill provides $730 million to SBA and makes changes to the agency’s lending and investment programs so that they can reach more small businesses that need help.<br /><br />This funding includes: </span><br /><span style="font-family:georgia;"><br />• $375 million for temporary fee reductions or eliminations on SBA loans and increased SBA guaranteed shares, up to 90 percent for certain loans<br />• $255 million for a new loan program to help small businesses meet existing debt payments<br />• $30 million for expanding SBA’s <span class="blsp-spelling-error" id="SPELLING_ERROR_1">Microloan</span> program, enough to finance up to $50 million in new lending and $24 million in technical assistance grants to <span class="blsp-spelling-error" id="SPELLING_ERROR_2">microlenders</span>.<br /><br />The bill also authorizes refinancing for certain SBA loans so borrowers can expand their businesses on favorable terms, and expands leverage capability for Small Business Investment Companies.<br /><br />“We are going to be part of the solution, and this bill gives us specific tools to make it easier and less expensive for small businesses to get loans, give lenders new incentives to make more loans, and help restore healthy SBA secondary markets to boost liquidity,” <span class="blsp-spelling-error" id="SPELLING_ERROR_3">Hairston</span> said, noting also that more details on implementation will be coming over the next few weeks.<br /><br />The stimulus bill takes a comprehensive approach and attacks several problems facing small businesses at once by reducing fees, guaranteeing a greater share of certain loans, expanding capacity in the <span class="blsp-spelling-error" id="SPELLING_ERROR_4">Microloan</span> program, providing new loans to help small businesses keep their doors open through economic hardship, as well as new mechanisms to help unfreeze the secondary markets for SBA-backed loans.<br /><br />Declines in SBA lending volume last year, which are continuing in FY 2009, reflect problems in the broader credit markets, and present hurdles to small businesses that are seeking credit in the current economy. The financial crisis has created a variety of conditions that impact small businesses, including a lack of liquidity in the banking system, a reluctance of many lenders to extend new loans, tightened credit standards, weaker finances at small businesses, and uncertainty about taking on new debt on the part of many entrepreneurs.<br /><br />The Recovery Act addresses small businesses’ lending problems, and addresses key investment and contracting issues. The bill helps Small Business Investment Companies better leverage investment capital to reach more small companies. The bill also increases the current contract limit for SBA’s Surety Bond Guarantee program, which will help small businesses compete for contracts.<br /><br /><strong>90 Percent Guarantee</strong><br />The bill allows SBA to raise its loan guarantee from the current levels to as much as 90 percent for some loans. At present, SBA can guarantee loans up to 85 percent on loans up to $150,000, and up to 75 percent on loans greater than $150,000. The 50 percent guarantee on SBA Express loans would remain unchanged. Increasing the SBA guarantee percentage will encourage lenders to extend more capital to small businesses by increasing the share covered by an SBA guarantee.<br /><br /><strong>Business Stabilization Loans</strong><br />The bill creates a new SBA loan program to provide deferred-payment loans of up to $35,000 to viable small businesses that need the money to make payments on an existing, qualifying loan for up to six months. These loans will be 100 percent guaranteed by SBA. Repayment would not have to begin until 12 months after the loan is fully disbursed. The bill provides $255 million for this new program. These loans will help ensure that small businesses have time to re-focus their business plans in order to succeed in the long run.<br /><br /><strong><span class="blsp-spelling-error" id="SPELLING_ERROR_5">Microloans</span><br /></strong>The bill expands SBA’s <span class="blsp-spelling-error" id="SPELLING_ERROR_6">Microloan</span> program, which provides small loans (up to $35,000) paired with technical assistance to start-up, newly established or growing small businesses. The bill provides funding to increase loans from SBA to participating <span class="blsp-spelling-error" id="SPELLING_ERROR_7">Microlenders</span> by $50 million through September 30, 2010, and adds $24 million in grants to provide technical assistance to borrowers. Historically, these loans reach low-income individuals, women and minorities in both rural and urban areas. Expanding this program through the stimulus bill will help ensure these entrepreneurs are not left behind in the credit crunch.<br /><br /><strong>Investment Program</strong><br />The bill helps SBA-licensed Small Business Investment Companies (<span class="blsp-spelling-error" id="SPELLING_ERROR_8">SBICs</span>) and families of <span class="blsp-spelling-error" id="SPELLING_ERROR_9">SBIC</span> funds better leverage the capital they use to invest in small businesses. The bill sets maximum levels of funding the agency can provide to these companies at up to three times the private capital raised by those companies, or $150 million, whichever is less. It also raises the percentage any one <span class="blsp-spelling-error" id="SPELLING_ERROR_10">SBIC</span> can invest in a single small business to 10 percent of total capital, and raises from 20 percent to 25 percent the percentage of any licensee’s dollar investments that must be made in “smaller” businesses.<br /><br />To learn more about the new SBA programs, contact SCORE Lancaster at 717-397-3092</span><br /></span><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-79839500604584863042009-02-23T17:30:00.002-05:002009-02-23T17:37:07.465-05:00Get Your Real, Free Credit Report<span style="font-family:georgia;">To get on top of your credit situation, you need to know what’s in your credit report. Perusing your report is how you are going to discover mistakes that can unjustly hurt your score and is a crucial tool for detecting identity theft.</span><br /><br /><span style="font-family:georgia;">The good news is that, due to consumer pressure, Congress finally passed legislation under the Fair Credit Reporting Act that gives consumers the right to obtain three free credit reports a year. By spacing a request every four months, you can get one from each of the three credit reporting agencies during the year. The less than good news is that the credit reporting agencies have sought to make this process difficult. When you go on the internet to get your free credit report, they steer you as best they can toward information or products that must be purchased. </span><br /><span style="font-family:georgia;"><br />There are three ways to request your free credit report: online, by phone and via mail.<br /><br /><strong>How to request your credit report online: </strong>Visit </span><a href="http://www.annualcreditreport.com/" target="_blank"><span style="font-family:georgia;">www.annualcreditreport.com</span></a><span style="font-family:georgia;">. That is the official and only site for getting your free credit report. </span><br /></span><span style="font-family:georgia;"></span><br /><span style="font-family:georgia;">Beware of other sites that may look and sound similar and liberally use the word “free.” They are not free; they are selling a product along with the report. </span><span style="font-family:georgia;">Also, be careful if you’re doing a search and use phrases like “free credit report,” since that can lead to one of these commercial sites.</span><br /><span style="font-family:georgia;"><br />Once at <a href="http://www.annualcreditreport.com/">www.annualcreditreport.com</a>, click on your state first. Do not click on one of the three credit agency logos or you will be redirected to their site.<br /><br />Then, fill out a simple verification of identity form that will ask for your social security number, address and date of birth.<br /><br />Next, select which of the three nationwide credit reporting agencies from which you want to obtain a report.<br /><br />On their sites you will again be asked to verify your identity through verification questions like who is your current mortgage holder, what is a former street you lived on, etc.<br /><br />Then, you can print out your free credit report. But remember, you can only get one free report per year from each agency.<br /><br />Note, this site is not the place for you to order your credit score. Why?<br /><br />Because the law says they only have to give you the last FICO score that was calculated on your file. Well, that may have been a different type of inquiry and is not going to give you the most accurate score. They may also offer you Fako scores such as Vantage, Score Plus and True Credit. These are educational scores and not used by lenders when considering your credit requests.<br /><br /><strong>To obtain your real FICO score</strong>, visit </span><a href="http://www.myfico.com/" target="_blank"><span style="font-family:georgia;">www.myfico.com</span></a><span style="font-family:georgia;">. </span><br /></span><span style="font-family:georgia;"><br /><strong>How to Request Your Credit Report by Phone</strong>: Call 1-877/322-8228 to request credit report. You will go through a simple verification process over the phone. The reports will then be mailed directly to you.<br /><br /><strong>How to Request Your Credit Report by Mail</strong>: To request your report by mail, fill out an request form and mail it to:<br /><br />Annual Credit Report Request Service<br />PO Box 105281<br />Atlanta, GA 30348-5281<br /><br />In order to obtain an official request form, you have to download it from the internet. (Beware, if you send a request on a non-official form, the security of your information is not guaranteed.) But if you have internet access, why waste a stamp and wait fifteen days when you can get your report immediately from </span><a href="http://www.annualcreditreport.com/" target="_blank"><span style="font-family:georgia;">www.annualcreditreport.com</span></a><span style="font-family:georgia;">? It’s now an internet world.<br /><br />This information is brought to you by </span><a href="http://www.score.org/" target="_blank"><span style="font-family:georgia;">SCORE</span></a><span style="font-family:georgia;"> "Counselors to America's Small Business"</span><br /></span><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-66170263564733168792009-02-17T15:58:00.004-05:002009-02-17T16:04:32.450-05:00Entrepreneur Self Assessment<p><span style="font-family:georgia;">Sign up now for SCORE’s entrepreneur self-assessment workshop called “Fundamentals of Small Business" being offered Saturday February 28, 2009.</span><br /><span style="font-family:georgia;"><br />This workshop addresses the basic steps critical to starting and managing a business.<br /><br />For a person planning to start a new business, reviewing these processes is a reality check – a no-nonsense look at the requirements and challenges of starting a business. “Small Business Fundamentals” is a valuable learning experience for new business entrepreneurs.<br /><br /><strong>Who should attend?</strong><br /><br />People considering starting or buying a business.<br /><br /><strong>What you will learn</strong>:<br /><br />· <em>Ten essential factors that determine success of a business<br />· Starting a business (naming and registering the business)<br />· Legal structures (sole proprietorship, partnership, limited liability companies, S-Corporations, etc.)<br />· Marketing products or services, including positioning the product or service, defining target customer wants and needs, and evaluating competition<br />· The essential parts of a business plan<br />· How to interpret Cash Flow, Balance Sheet and Profit and Loss statements<br />· Funding alternatives<br />· What you need to know to start a business, and where to find answers<br /></p></em><div align="center"><br />Sign up now for Saturday, February 28, 2009 from 9am to Noon at <a href="http://www.scorelancaster.org/"><strong><span style="color:#ffff33;">www.scorelancaster.org</span></strong></a><strong><span style="color:#ffff33;">.</span></strong></div><div align="center"><br />Alternative dates include:</div><ul><li><div align="left">March 25 </div></li><li>May 2 </li><li>May 20 </li><li>July 15 </li><li>August 22 </li><li>September 16 </li><li>October 24 </li><li>November 11 </li><li>December 12,2009</span></li></ul><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-38051463350623504622009-02-16T17:37:00.007-05:002009-02-16T17:45:41.744-05:00Small Business Readiness Review<div align="justify">Sign up now for SCORE Lancaster's Small Business Readiness Review. </div><div align="justify"> </div><div align="justify"> </div><div align="justify"></div><div align="justify"></div><div align="justify"></div><div align="justify"></div><div align="justify">This workshop is a two and a half hour interactive session led by a SCORE facilitator. It is designed to help you assess: </div><div align="justify"><br />· Why you want to go into business for yourself<br />· Are you suited to be an entrepreneur?<br />· Your business skills and those skills needed to achieve success<br />· Your relationship style compared to that of others<br />· Relationship strategies that can help you and your business succeed<br /><br />You should attend if you are considering starting or buying a business. The workshop may also be useful to small business owners who want insight into their strengths as well as areas for development.</div><div align="justify"><br />What you will learn: </div><div align="justify"><br />· Why people go into business for themselves<br />· Factors that help make a business successful<br />· Your strengths and development opportunities<br />· Your relationship strengths and challenges<br />· How to recognize others’ relationship approaches<br />· How to practice techniques to improve relationship effectiveness<br />· Where to find additional resources</div><div align="justify"><br />Dates this workshop is offered 6:30 PM to 9PM Wednesdays:</div><div align="justify"><br />· March 18<br />· May 13<br />· July 8<br />· September 9<br />· November 4, 2009<br /><br />The price is $25 if you pay at the door or $20 if you sign up at our website <strong><span style="color:#ffff33;">www.scorelancaster.org<br /></span></strong><br />To learn more call us at <strong><span style="color:#ffff33;">717-397-3092</span></strong></div><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-74210887958483712112009-02-12T13:43:00.001-05:002009-02-12T13:51:38.117-05:00Five Tips for Handling Business Finances<span style="font-family:georgia;">How well you handle your business finances is vital to your success as a small business owner. Here are five key ways to effectively manage your finances.</span><br /><span style="font-family:georgia;"><br />1. <strong>Good record keeping</strong>. The starting point for managing finances is good record keeping of all revenue and expenditures. It is best to use an integrated financial software package such as QuickBooks, because all business transactions need to be recorded only once. In addition, software programs provide all the required business information in reports tailored for the specific business. If you are not able to use such a program, make sure that all records are kept in a single, easily accessible location and maintain a summary of file contents. It is imperative to maintain a separate bank account for your business. Personal income or expenses should never go into or come out of this account.<br /><br />2. <strong>Revenue and expenditure budgeting</strong>. Budgeting will help to ensure that your business has enough cash for its operations. All revenue and expenditures need to be budgeted at least three months in advance to make sure there are adequate funds to run the business. In many businesses, the budget will be a part of a business plan. Existing businesses should create a budget using past history as a guide, and make modifications based on knowledge of specific circumstances and events which could cause variation from historical data. Keep in mind that budgets need to be flexible, as the assumptions on which the plan is based may change.<br /><br />3. <strong>Cash flow and credit management</strong>. With a budget in place, you must manage cash flow by comparing actual revenue and expenditures with the budget. You will need to either provide additional cash or reduce expenditures if it seems that there might be a cash shortage at some point. If your business has employees, make sure that sufficient cash will be available to meet all obligations related to the handling of amounts withheld from employee paychecks, which must be passed on to government entities at some later date.<br /><br />Effective management of customer credit (accounts receivable) is necessary to make certain your cash flow forecasts for receiving payments from customers will allow timely payment of your own expenses (accounts payable). Establish a standard policy for payment and make sure all customers granted credit are aware of it. If a customer is not paying invoices on time, find out why. It may have to do with a faulty product or poor service which needs to be corrected. Work out a payment plan acceptable to both parties and monitor closely.<br /><br />4. <strong>Financial statement review</strong>. A regular review of financial statements helps with budgeting and cash flow forecasting. The three basic statements which should be prepared and reviewed every month are the balance sheet, the profit and loss statement and the cash flow statement. These statements will also be important if you need to get a loan to help with your cash flow.<br /><br />5. <strong>Sufficient cash reserves</strong>. Sufficient cash reserves must be maintained so that the business is never in jeopardy because of some unexpected expenditure or shortage in expected revenue. Reserve funds should only be used in an emergency and should be replenished as soon as possible. Some reserve options include a CD, marketable security or even your personal borrowing ability so that money can be put into the business on a temporary basis if needed.<br /><br />This overview of business finances gives you a good starting point, but sometimes it is best to consult with a professional. Seek help from SCORE Lancaster. To learn more visit our website at <a href="http://www.scorelancaster.org/">www.scorelancaster.org</a>. <br /><br />SCORE counseling is always free and confidential. In addition, SCORE provides many free, downloadable financial statements in its template gallery.</span><br /></span><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com2tag:blogger.com,1999:blog-1797206333504404787.post-9828896661046941832009-02-09T17:55:00.004-05:002009-02-09T18:02:25.414-05:00Word-of-Mouth Referrals Build “Buzz”<div align="justify"><span style="font-family:georgia;">There is no better form of advertising than word-of-mouth referrals—personal referrals from people whose opinions others trust and respect. Small business owners are among the biggest beneficiaries of word-of-mouth referrals and they require no advertising or marketing budget! </span></div><span style="font-family:georgia;"><div align="justify"><br />While you can’t control how and when referrals come about, there are ways to start and sustain a positive buzz about your business. </span><br /><span style="font-family:georgia;"><br />Here are seven ways to create high-value, low-cost word-of-mouth referrals.<br /><br /><strong>1 - Recruit “Cheerleaders Network”</strong> Build a team of supporters for your business—friends, family members and colleagues who routinely talk up your business to their friends and acquaintances. Make sure that they know enough about your qualifications and capabilities to make an accurate and convincing case to others.<br /><br /><strong>2 - Network, Network, Network</strong> Get involved with professional associations related to your industry or field. You’ll get to know experts and colleagues in your specific market. And, they may know of immediate or potential opportunities for your business. Other good networking opportunities include local or regional business associations, Chambers of Commerce and non-profits aligned with your field.<br /><br /><strong>3 - Capitalize on Your Current Customers</strong> At the conclusion of all successful projects, thank your customers for their support and express your interest in working with them again. Also encourage them to pass along your name to others. If your operating budget can handle it, consider offering discounts for customer referrals.<br /><br /><strong>4 - Become a Knowledge Source</strong> Take advantage of opportunities to show what you know by offering free presentations or articles on timely issues to business, professional and community organizations and publications. Make sure that your presentation or article is relevant to people’s interests and not a thinly veiled commercial for your business.<br /><br /><strong>5 - Keep in Touch</strong> Don’t wait for customers to call you. Contact them from time to time to see how things are going, personally and professionally; what issues or trends they’re dealing with; and perhaps alert them to an event, article or Web site that may be of interest. Also consider issuing a newsletter to current and prospective clients with relevant news, tips and other information that can help their business, or simply brighten their day.<br /><br /><strong>6 - Give as Well as Receive</strong> Every small business should have a network of colleagues and associates to call on to handle excess workload, or provide service or experience you may not have. These relationships almost always result in “reciprocal referrals” to you.<br /><br /><strong>7 - Do a Good Job</strong> There’s no better source for a positive referral than a happy customer. And remember that the quality of your service says as much about you as the quality of your work or product. Responsiveness, the ability to help out with tight deadlines, and a willingness to do those all-important “little things” (e.g., working in small jobs for no charge) builds goodwill and a good reputation for your business.<br /><br />Meet with a SCORE Lancaster counselor to evaluate low cost ways to improve your business marketing. For more information, call 717-392-3097. Visit SCORE Lancaster online at <span style="color:#ffff33;"><strong>www.scorelancaster.org</strong></span>.</span><br /></div></span><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-32021269669483170402009-02-09T17:16:00.005-05:002009-02-09T17:39:01.402-05:00Five Sources of Quick Cash<div align="justify"><span style="font-family:georgia;">During the current recession, many businesses could use a little more cash…and fast. Here are five quick & practical ways to get the cash you need in a tight credit market. </span></div><span style="font-family:georgia;"><ul><li><div align="justify"><strong>1 - Get Paid Up Front</strong> - Try to obtain payment up front. Require customers to make deposits. Consider offering an incentive for payment upon signing. Secure cash to help your business flow through the project. Secure the cash you need in advance of the work. Up front payments not only work in the professional service industry, but are also applicable to retailers through the purchase of gift cards. </div></li><li><div align="left">Did you know that almost 50 million adults purchased gift cards in the last year.<br /><em>- nearly two thirds of these</em> spent more than the card value!<br /><em>- over half </em>of gift card holders make <strong>more than one trip</strong> to deplete<br />the value of the card.<br /><em>- <strong>a third </strong></em><strong>of total the value is never used</strong> or redeemed by the user. <em>- <strong>nearly a fifth</strong></em><strong> of gift cards are never redeemed</strong>. </div></li></ul><ul><li><div align="left">Whether it’s through gift cards or down payments, get your cash upfront.<br /><strong>2. Collect Payment</strong> - Now that you’re obtaining pre-payments from current customers, make sure to <em>collect from past customers</em>. Be polite, but be persistent with. If you extend credit, shorten your credit terms terms from 30 and 60 day to 15, 30 or 45 day collections. Encourage customers to make progress payments as soon as possible. It’s better to get 5 percent of what is owed on a weekly basis rather than nothing at all. Above all, try to maintain a good relationship with your customers. These are difficult times for everyone.<br /><strong>3.</strong> <strong>Try Factoring</strong> - Factoring is a long accepted financing model that allows your business to get paid immediately on outstanding invoices. A factor will pay you the balance of an invoice in advance, minus his fees, and wait to receive payment from the customer. First, however, a factor must verify that your customer is willing and able to pay. Accordingly, this method works best for well established customers with good payment histories. This is a quick and relatively risk-free way of getting the cash you need without having to wait 30, 60 or 90 days for payment.<br /><strong>4. Slow Your Payments</strong> - Another way to free up extra cash is to slow or reduce your payments to suppliers. Contact your vendors, lenders and credit card companies to renegotiate your rates, fees and repayment schedule. The key is to do so before you begin to have payment issues. You should be able to leverage your good repayment history to obtain more advantageous terms.<br /><strong>5. Borrow from Alternate Sources - </strong>When all else fails, borrow cautiously. Many experts agree that borrowing from yourself to aid cashflow is preferable to losing your business. Start by liquidating inventory, equipment and depositing cash owner equity. However, as you would with a bank, you should always have a plan to pay yourself back. If you have a line of credit, meet with your bank about keeping your line open and explore the potential of increasing the line or removing the condition that requires you to rest the line periodically. </div></li></ul><p align="justify">Meet with a SCORE Lancaster counselor </span><span style="font-family:georgia;">to evaluate your business cashflow and to look for the safest and smartest ways to manage your debt obligations.</span></p><p align="justify">For more information, call <strong>717-392-3097</strong>. Visit SCORE Lancaster online at <strong><span style="color:#ffff33;">www.scorelancaster.org</span></strong></p><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-80017043320105711322009-02-08T11:46:00.006-05:002009-02-08T17:25:12.024-05:00Score Volunteer Profile - Carol Aubitz<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi8Ls3Q6zr-ABZsmk1pE6Hp8ePY3vheCraVzTw0d-a59FDgfDEvhVBXdhAFqkserzQ0-pYI-y4FjWr_zRO4I2-98ZQm__vJN67V26-yDQ0L7FSUluYzXrrN9mTags1cylFwWz_B0KrRoMMm/s1600-h/carol-aubitz.jpg"><img id="BLOGGER_PHOTO_ID_5300469539335056770" style="margin: 0px 10px 10px 0px; float: left; width: 148px; height: 148px;" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi8Ls3Q6zr-ABZsmk1pE6Hp8ePY3vheCraVzTw0d-a59FDgfDEvhVBXdhAFqkserzQ0-pYI-y4FjWr_zRO4I2-98ZQm__vJN67V26-yDQ0L7FSUluYzXrrN9mTags1cylFwWz_B0KrRoMMm/s200/carol-aubitz.jpg" border="0" /></a> SCORE Lancaster Volunteer Carol Aubitz is an expert at building businesses through branding and niche marketing.<br /><br />Carol has worked in advertising and marketing for more than 35 years, with twenty years management responsibility at nationally recognized companies. Her experience covers a wide variety of businesses including retail, direct mail, catalogs, food, travel/tourism, manufacturing, professional & trade services, home furnishings, community and economic development, and special interest niche markets. <div align="justify"><br />She is often a guest speaker at business and marketing functions, and has been published in many marketing and business publications including Advertising Age, Fortune, Target Marketing, Direct Magazine, and Central Penn Business Journal. She is a member of the National Association of Professional Women.</div><div align="justify"><br />Working full time as President and owner of Excelsior Marketing (<a href="http://www.excelsiormarketing.biz/"><span style="color: rgb(255, 255, 51);">http://www.excelsiormarketing.biz/</span></a>) in Lancaster, she still finds time to counsel with SCORE clients who are starting or growing small businesses. Carol gives generously of her time and talent as a speaker on marketing topics for local Chambers of Commerce and other non-profits, and she’s a key member of SCORE Lancaster’s Marketing Committee. A graduate of Columbia University, Carol majored in journalism.<br /><br />To request Carol -- or any of the 50 SCORE Lancaster counselors – to help your business, contact us at <a href="http://www.scorelancaster.org/"><span style="color: rgb(255, 255, 51);">www.scorelancaster.org</span></a> or at 717-397-3092, or visit us at Suite 231 Liberty Place, Lancaster, weekdays between 10:00 a.m. and 2:00 p.m.</div><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-71174234374550034432009-02-06T10:58:00.005-05:002009-02-08T17:26:59.717-05:00SCORE Volunteer Profile - Jim Foster<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZWDcaf-v6J9-7SnslZBdKTZ4Ol0EZxLkFmZbazAymOs3Tu7ybbpQwlIesnco4da-HkcevzdbZ3_fjKjVcxMtZHbKtXtv1FB6GHAgwqjyH86O5aqY0UP6XzMJSxKPFmMxUMiAd3UIWudMX/s1600-h/2009-1+Foster+2-1.jpg"><img id="BLOGGER_PHOTO_ID_5299715098743175842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 133px; CURSOR: hand; HEIGHT: 200px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZWDcaf-v6J9-7SnslZBdKTZ4Ol0EZxLkFmZbazAymOs3Tu7ybbpQwlIesnco4da-HkcevzdbZ3_fjKjVcxMtZHbKtXtv1FB6GHAgwqjyH86O5aqY0UP6XzMJSxKPFmMxUMiAd3UIWudMX/s200/2009-1+Foster+2-1.jpg" border="0" /></a><br /><div align="justify"><span style="font-family:georgia;">SCORE Lancaster Counselor Jim Foster is a professional engineer by trade. Most recently he was Vice President Marketing for an engineering consultancy. </span></div><br /><div align="justify"><span style="font-family:georgia;"></span></div><br /><div align="justify"><span style="font-family:georgia;">Jim has devoted more than thirty years to engineering work with architectural and engineering firms developing economical and safe solutions to practical problems. His experience spans a wide range of technical and management areas, including process safety management. Jim is a Registered Professional Engineer in Pennsylvania.<br /><br />He’s a graduate of the United States Naval Academy and was a nuclear qualified submariner who served as an engineering officer on the USS Alexander Hamilton (SSBN-617), a Lafayette class ballistic missile submarine. After leaving active duty, Jim continued his service in a variety of US Navy Reserve units. Jim retired from the Navy as a Captain.<br /><br />Jim lives in the Ephrata area and leads SCORE’s outreach to that part of Lancaster County. He represents SCORE with the Ephrata Area Chamber of Commerce and networks with local organizations such as the Ephrata Chapter of the American Business Women’s Association.<br /><br />In addition to counseling and networking, Jim applies his Microsoft Access database skills to maintaining and refining our client and contact mailing lists.<br /><br />To request Jim – or any of the 50 SCORE Lancaster counselors – to help your business, contact us at </span><a href="http://www.scorelancaster.org/"><span style="font-family:georgia;color:#ffff33;"><strong>www.scorelancaster.org</strong></span></a><span style="font-family:georgia;"> or at 717-397-3092, or visit us at Suite 231 Liberty Place, Lancaster, weekdays between 10:00 a.m. and 2:00 p.m.</span></div><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-14751095043867319052009-02-04T09:56:00.017-05:002009-02-08T17:27:47.186-05:00SCORE Volunteer Profile - Rhonda Kleiman<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgR8HCdTKoaKbgU6ToF1tSj2sgMEhxQWPwjz_hc9WxLEDKyHMUC3lxF_muWFGLzS9HOPsR1JS_hjdC8sUyLVzcxujJHi9nN41AlrGo0Kbedc_6Ady1D12uuOG0_EkUsdWmCla2cqk3VqSMD/s1600-h/2009-2.jpg"><img id="BLOGGER_PHOTO_ID_5298957682535214066" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 134px; CURSOR: hand; HEIGHT: 200px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgR8HCdTKoaKbgU6ToF1tSj2sgMEhxQWPwjz_hc9WxLEDKyHMUC3lxF_muWFGLzS9HOPsR1JS_hjdC8sUyLVzcxujJHi9nN41AlrGo0Kbedc_6Ady1D12uuOG0_EkUsdWmCla2cqk3VqSMD/s200/2009-2.jpg" border="0" /></a><br /><div>Rhonda Kleiman is a key resource for SCORE Lancaster clients. </div><br /><div></div><div>Rhonda, the Economic Development Manger for the Library System of Lancaster County, created the countywide business information service. She was also responsible for the creation of the Duke Street Business Center at Lancaster Public Library. </div><div><br /></div><div>The Business Center staffed by librarians Diane Pawling and Stacey Brownlie, helps people access both print resources and multiple databases for market research. They publish a business start-up check list on the Library website. Take a look at this helpful resource: </div><div></div><div></div><div><a href="http://www.lancasterlibraries.org/lslc/cwp/view.asp?a=3&q=467470"><strong><span style="font-family:georgia;font-size:85%;color:#ffff33;">http://www.lancasterlibraries.org/lslc/cwp/view.asp?a=3&q=467470</span></strong></a></div><div></div><div></div><div></div><div></div><div>Need to find potential customers? Need to learn more about competitors? Need to search for similar business models? </div><div></div><div></div><div></div><div>Rhonda and her team can help.. and their help is free! In addition, once you have your library card, you can access most of this data on the Web from the convenience of your home or office. <div><strong><span style="color:#ff0000;"></span></strong></div><br /></div><div>Rhonda recently launched a new service geared for existing businesses, Lancaster MarketEdge, which includes a five-part Competitive Intelligence Certification Program.</div><div><br />As a SCORE member, Rhonda also co-teaches our workshop on Marketing Planning, demonstrating how business resources available through the Library System can assist people starting or growing small businesses in Lancaster. Later in 2009 she’ll help lead workshops on The Web, Web 2.0 and Competitive Intelligence.</div><div><br />Rhonda is a Past Chair of the Lancaster Chamber’s Small Business Group, and current Chair of the American Library Association’s Business Reference In Public Libraries Committee. She’s also a member of the Special Libraries Association and the Society of Competitive Intelligence Professionals. Previously she served as Senior Information Specialist with the American Association of Advertising Agencies. She has over 35 years of library experience.</div><div><br />To request Rhonda – or any of the 50 SCORE Lancaster counselors – to help your business, contact us at <a href="http://www.scorelancaster.org/"><strong><span style="color:#ffff33;">http://www.scorelancaster.org/</span></strong></a> or at 717-397-3092, or visit us at Suite 231 Liberty Place, Lancaster, weekdays between 10:00am and 2:00pm.</div><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com1tag:blogger.com,1999:blog-1797206333504404787.post-36570331396486739452009-01-23T09:28:00.011-05:002009-01-23T09:59:25.395-05:00SCORE National Honors Lancaster VolunteerSCORE Counselor Ed England was honored by the National SCORE Association recently for his creativity and service to existing businesses in Lancaster County.<br /><br />Under Ed’s leadership, SCORE Lancaster initiated a series of business roundtables designed to help businesses in similar industries by:<br /><br /><div style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none"></div>• sharing best practices<br />• discussing issues and challenges<br />• drawing on SCORE counselor experience and expertise<br />• sharing resources<br />• improving processes.<br /><br /><div style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none"></div><div align="left">Two roundtable groups – retailers and contractors – are active and a new one is forming among members of the Lancaster Chamber of Commerce. This outreach to existing businesses reflects SCORE’s proactive commitment to the local business community. There is no charge to participate in the roundtables.<br /><br />Ed was presented with the award by SCORE Lancaster Chapter Chair Jerry Glenn (right) at the January 20th Chapter meeting.<br /><br /><br /></div><img id="BLOGGER_PHOTO_ID_5294499422298468770" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 193px; CURSOR: hand; HEIGHT: 121px; TEXT-ALIGN: center" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyIfj07w8JJgyXZUaQgJs4IMEtR_BDe9cEOMDu12QJNHCAO0T3V6ddD52Nib_9qo7JtgS6Im8ZDksONM8pukBkkBUgP3Sh_VmoaNVtQOVq4VdfFj39PemVyKc27omIo-90S1sWU4vnIJp2/s200/DSCN0186.JPG" border="0" /><br /><div style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none"><a style="CLEAR: right; FLOAT: right; MARGIN-BOTTOM: 1em; MARGIN-LEFT: 1em; cssfloat: right" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguz6KIhE9gtb_V-Wvo_3bWNYBaCb6sMSjm6Qilbn5ttHZFKDXyc5gQV-Nj2948TLlZS0Z9Ekk8va5VdvQVBODcO4iN3k6iL1PqNKl6SBAvrb43IIhWonk9tAJWElISwI_apjkbd9Z7gjam/s1600-h/DSCN0186-1.JPG"></a>The citation presented to Ed reads:</div><div style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none"><br /><em><span style="font-family:georgia;font-size:85%;">“The SCORE Gold Member Award and Certificate is the highest national award that can be given to a volunteer. </span></em></div><p><em><span style="font-family:georgia;font-size:85%;">To be eligible, a member must have provided a minimum of seven years of distinguished service and made an exceptional contribution to the chapter through activities such as workshop participation, administrative roles, community service, and outreach programs.”</span></em></p><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com2tag:blogger.com,1999:blog-1797206333504404787.post-30817265396257236422009-01-22T15:27:00.007-05:002009-01-22T15:45:55.149-05:00SBA Microloan Programs AvailableThe SBA Microloan Program provides small loans to start-up, newly established, or growing small business concerns.<br /><br />Under this program, SBA makes funds available to nonprofit community based lenders (intermediaries) which, in turn, make loans to eligible borrowers in amounts up to a maximum of $35,000. The average loan size is about $13,000. Applications are submitted to the local intermediary and all credit decisions are made on the local level.<br /><br /><strong>Terms, Interest Rates, and Fees: </strong><br />The maximum term allowed for a microloan is six years. However, loan terms vary according to the size of the loan, the planned use of funds, the requirements of the intermediary lender, and the needs of the small business borrower.<br /><br />The maximum loan amount is $35,000, however, the average loan amount is around $13,000.<br /><br />Interest rates vary, depending upon the intermediary lender and costs to the intermediary from the U.S. Treasury. Generally these rates will be between 8 eight percent and thirteen percent.<br /><br /><strong>Collateral:</strong><br />Each intermediary lender has its own lending and credit requirements. However, business owners contemplating application for a microloan should be aware that intermediaries will generally require some type of collateral, and the personal guarantee of the business owner.<br /><br /><strong>Technical Assistance:</strong><br />Each lender is required to provide business based training and technical assistance to its microborrowers. Individuals and small businesses applying for microloan financing will be required to fulfill training and/or planning requirements before the loan application is considered. <br /><br />SCORE programs and counseling provide assistance meeting these micro-loan application requirements.<br /><br /><strong>How to Apply: </strong><br />Small businesses that are interested in applying for a microloan should contact SCORE to find a microlender in their area.<br /><br />For more information about participation in this and other Microloan Programs contact <strong>SCORE Lancaster at 717-397-3092</strong>.<div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com0tag:blogger.com,1999:blog-1797206333504404787.post-22349125289279461422009-01-18T12:55:00.007-05:002009-02-07T18:54:43.837-05:00Laid Off and Thinking of Starting a New Business?<span style="font-family:georgia;">Starting New Business? Tools to check out:<br /><br />LAID OFF, NOW WHAT? </span><br /><span style="font-family:georgia;">Incorporate. Learn how to </span><a href="http://www.score.org/internet_legal_starting_over.html" target="_blank"><span style="font-family:georgia;">protect your assets and start a business.</span></a><span style="font-family:georgia;"><br />Assess. Take SCORE's </span><a href="http://www.e-myth.com/score/skills/" target="_blank"><span style="font-family:georgia;">Small Business Assessment</span></a><span style="font-family:georgia;">.<br />Ask. Get help from expert </span><a href="http://www.score.org/ask_score.html"><span style="font-family:georgia;">counselors at SCORE.</span></a><span style="font-family:georgia;"><br />Succeed. Inspiration from a </span><a href="http://www.score.org/success_cor_productions.html" target="_blank"><span style="font-family:georgia;">SCORE success</span></a><a href="http://www.score.org/success_cor_productions.html" target="_blank"><span style="font-family:georgia;"> </span></a><span style="font-family:georgia;">- this happened after a layoff!<br /></span><br /><span style="font-family:georgia;">SMART BUSINESS PLANNING<br />Start. Get started with SCORE's </span><a href="http://www.tsbc.com/sbo/score/module.aspx?mid=114&cid%201" target="_blank"><span style="font-family:georgia;">Business Planning Quiz</span></a><span style="font-family:georgia;">.<br />Plan. Read the </span><a href="http://www.score.org/60_guide_business_plan.html" target="_blank"><span style="font-family:georgia;">60-second guide to writing a Business Plan.</span></a><span style="font-family:georgia;"><br />Utilize. Check out our </span><a href="http://www.score.org/head_start_business_planning.html" target="_blank"><span style="font-family:georgia;">Resources to Start your Business Plan</span></a><span style="font-family:georgia;">.<br />Visualize. Think of the future with </span><a href="http://www.score.org/bp_5.html" target="_blank"><span style="font-family:georgia;">Scenario Planning. </span></a><br /><br /><span style="font-family:georgia;">CABIN FEVER? LEARN ONLINE.<br />Download. VISA and SCORE's </span><a href="http://www.score.org/pdf/SCORE_Visa_Workbook.pdf" target="_blank"><span style="font-family:georgia;">FREE Financial Management Workbook</span></a><span style="font-family:georgia;">.<br />Learn. Take our FREE </span><a href="http://www.va-interactive.com/score/" target="_blank"><span style="font-family:georgia;">small business online courses</span></a><span style="font-family:georgia;">.<br />Read. Check out planning articles in our </span><a href="http://www.score.org/readingroom.html#a_1" target="_blank"><span style="font-family:georgia;">Reading Room</span></a><span style="font-family:georgia;">.<br />Prep. Tax </span><a href="http://www.irs.gov/businesses/small/article/0,,id=97726,00.html" target="_blank"><span style="font-family:georgia;">courses for small businesses</span></a><span style="font-family:georgia;"> from the IRS.<br /><br />GET ORGANIZED<br />Listen. To our </span><a href="http://www.score.org/podcasts.html" target="_blank"><span style="font-family:georgia;">new podcast</span></a><span style="font-family:georgia;">, Get More Done in Less Time.<br />Download. Julie Morgenstern, offers </span><a href="http://www.score.org/pdf/JulieMorgensternExclusiveTips.pdf" target="_blank"><span style="font-family:georgia;">Tips on Organizing</span></a><span style="font-family:georgia;">.<br />Organize. Lisbeth McNabb's Organizing post at the </span><a href="http://womensblog.score.org/" target="_blank"><span style="font-family:georgia;">Women's Success blog</span></a><span style="font-family:georgia;">.<br />Learn. Fast help to </span><a href="http://www.score.org/60_guide_organizing.html" target="_blank"><span style="font-family:georgia;">start you on your way</span></a><span style="font-family:georgia;"> in 60 seconds.</span><div class="blogger-post-footer">SCORE Lancaster
Liberty Place, Suite 231
313 West Liberty Street
Lancaster, PA 17603</div>SCORE Lancasterhttp://www.blogger.com/profile/08184994699640616974noreply@blogger.com1