When a small business owner is seeking funding to bring in a new business partner or expand, writing a business plan can be daunting.
“They say the number one fear for most people is public speaking. I think number two is putting together a business plan,” said Bill Burnham, a business consultant for the Small Business Development Center affiliated with the University of South Florida. “It’s foreign to them and they don’t know where to start. We provide our services at no cost, but we do require anyone requesting that service to register and put in a request for assistance.”
To register for help devising a business plan, go to sbdctampabay.com.
Burnham or another consultant at the SBDC walk clients through the process of developing a business plan, first by suggesting they attend an introductory webinar which gives the basics on how to put together such a plan. “If they need further assistance, we will work with them to help them write their plan. Our role is to provide them the tools and assistance they need to get it done,” Burnham said.
He likes to start with a financial forecast. “If they are looking at trying to get a loan, they need to have a forecast to cover two, maybe three years.” A client might realize they cannot meet their goals for a business based on the forecast, or they may find that they can.
“If they get to where they’ve got a decent forecast, we start working on the narrative of the business plan – industry, market, competition, the demographics of their market,” Burnham said.
Once an entrepreneur registered on the SBDC website, a consultant will contact them to set up an appointment.
