Small Business resource guide METRO NEW YORK EDITION 2020
START GROW EXPAND YOUR BUSINESS
New York City Edition 2020
Local Business Assistance 8 National Success Story Jerado and Joyce Reynolds know their local landscape for entrepreneurship support. 11 Local SBA Resource Partners 13 Your Advocates 14 How to Start a Business 18 Workforce Recruitment 19 Emerging Leaders 21 Opportunities for Veterans 22 Write Your Business Plan 25 Entrepreneurial Resources
26 National Success Story Jennifer and Jeff Herbert’s
meadery has expanded into a multimillion dollar enterprise thanks to SBA assistance.
29 SBA Lenders 33 Need Financing? 34 Go Global with
International Trade 36 R&D Opportunities for High Growth Startups 38 National Success Story
Cheeseburger Baby owner Stephanie Vitori persevered through a financial storm and a natural disaster.
42 Surety Bonds
44 National Success Story Jennifer Rahn steers the course for Admiral Engineering, succeeding as a small business subcontractor. 48 SBA Certification Programs 49 Woman-Owned Small Business certification
ON THE COVER Gia Giasullo and Peter Freeman, courtesy of Brooklyn Farmacy & Soda Fountain; Dr. Mandë Holford, left, Jessica Ochoa Hendrix, courtesy of the SBA; Stephanie and Gabrie Vitori, courtesy of the SBA; Dawn Kelly, courtesy of the SBA
U.S. SMALL BUSINESS ADMINISTRATION A MESSAGE FROM THE ADMINISTRATOR
I t is my honor to serve as Administrator of the U.S. Small Business Administration, leading a dedicated team of talented individuals across America who are focused on helping entrepreneurs start, grow, and expand their small businesses. The SBA is here to support the prosperity and longevity of our nation’s small businesses with timely and innovative resources to help them thrive in today’s economy. America’s entrepreneurs are innovators, risk-takers, and the catalyst for employment opportunities within their communities, and they are what makes our economy so strong and dynamic. As we enter a new decade of possibilities, small businesses have a remarkable opportunity to continue building upon the success we’ve seen in our economy over the last three years. As the voice for America’s 30 million small businesses, I am eager to advocate on entrepreneurs’ behalf as a member of the President’s Cabinet. Whether it’s seeking access to capital, government contracting opportunities, business mentoring, or assistance with disaster recovery, the SBA is ready and determined to help our customers succeed. The SBA remains committed to continuing our support of America’s entrepreneurs and making an even bigger impact in communities across the country. In particular, the SBA is focused on elevating female entrepreneurs and our military veterans, expanding access to SBA resources
among entrepreneurs in disadvantaged communities, and continuing to prioritize disaster relief. Within this resource guide, you will learn more about the tremendous tools the SBA provides small businesses through our 68 District Offices and numerous Resource Partners, such as our Small Business Development Centers, our SCORE mentoring network, Women’s Business Centers, and Veterans Business Outreach Centers. Featured in this guide are some of the remarkable success stories of entrepreneurs who partnered with the SBA to take their businesses to the next level. The SBA encourages you to also utilize these resources to help strengthen and meet your business goals. Sincerely,
Jovita Carranza SBA Administrator
WE MAKE SMALL BUSINESS OUR BUSINESS. START • GROW • EXPAND • RECOVER
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Copyright: New South Media, Inc. Reproduction in part or whole is strictly prohib- ited without the express written permission of the publisher. © 2020 NEW SOUTH MEDIA, INC., ALL RIGHTS RESERVED The U.S. Small Business Administration’s Office of Marketing & Customer Service directs the publication of the Small Business Resource Guide under SBA Contract #SBAHQ-17-C-0018. SBA publication winter 2020 national edition #mcs-0134
WRITER/EDITOR Becky Bosshart (202) 205-6677 firstname.lastname@example.org DIRECTOR OF MARKETING Paula Panissidi Tavares email@example.com
The SBA’s participation in this publication is not an endorsement of the views, opinions, products or services of the contractor or any advertiser or other participant appearing here. All SBA programs and services are extended to the public on a nondis- criminatory basis. Directory listings do not constitute or imply an endorsement by the SBA of any opinions, products, or services of any private individual or entity.
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While every reasonable effort has been made to ensure that the information con- tained here is accurate as of the date of publication, the information is subject to change without notice. The contractor that publishes this guide, the federal govern- ment, or agents thereof shall not be held liable for any damages arising from the use of or reliance on the information contained in this publication.
SBA New York District Office Serving the Five Boroughs of New York City, Long Island,
Long Island Office 350 Motorway Parkway, suite 109 Hauppauge, NY 11788 (631) 454-0750
and the Lower Hudson Valley 26 Federal Plaza, suite 3100 New York, New York 10278 (212) 264-4354 sba.gov/ny @SBA_NewYork
District Director Letter W elcome to the U.S. Small Business Administration’s New York District Office 2020 Small Business Resource Guide. We sit at the epicenter of one of the most diverse and culturally rich communities in the world. Our area includes 1.6 million small businesses employing over five million people in the 14 counties that make up the Metropolitan New York area. The SBA helps make the American dream of small business ownership a reality. We are the only federal agency dedicated to helping our 30 million small businesses start, grow, expand, or recover after a disaster. Last year, small businesses in our area qualified for nearly $1 billion in SBA-backed loans from our lending partners. These funds were then used to buy equipment, build or renovate facilities, pursue exporting opportunities, and hire new employees. The SBA also works with the U.S. Department of Housing and Urban Affairs to increase investments in Opportunity Zones. These zones often expand from Historically Underutilized Business Zones, creating economic possibility in low-income communities. Our agency accomplishes all this because of our commitment to fostering entrepreneurship. To get started, contact our SBA office or visit one of our SBA Resource Partners. Starting on page 9, you will find listings for our free or low-cost business advisers, which include over 40 locations of the SBA Resource Partner network in our district. Stay up to date on events near you and get valuable local business information by following us @SBA_NewYork. Register for email updates at sba.gov/updates . Use our Small Business Resource Guide to power your dream of starting, growing or expanding your small business.
District Director Beth Goldberg (212) 264-1318 firstname.lastname@example.org Deputy District Director John Mallano (212) 264-1480 email@example.com Supervisory Economic Development Specialist Peter Fehnel (212) 264-1472 firstname.lastname@example.org Supervisory Business Opportunity Specialist Clyde Martin (212) 264-5276 email@example.com Long Island Branch Manager Robert Piechota (631) 454-0750 robert.piechota@ sba.gov Administrative Officer Marie White (212) 264-9460 firstname.lastname@example.org Legal Counsel Diana St. Louis (212) 264-7770 email@example.com
Lender Relations Specialists Christopher Dalton (212) 264-4352 christopher.dalton@ sba.gov Robin Daniels (212) 264-1763 firstname.lastname@example.org Business Opportunity Specialist Jennifer Krottinger (212) 264-9487 jennifer.krottinger@ sba.gov Economic Development Specialists
Program Support Assistants Teresa Detelj (212) 264-1319 email@example.com Ana Hernandez (212) 264.5664 firstname.lastname@example.org District Support Assistants Roland Stancione (212) 264-4324 roland.stancione@ sba.gov Laura Morales (212) 264-5711 email@example.com Andrea Spigner (212) 264-4354 firstname.lastname@example.org Joseph Farber (631) 454-0750 email@example.com
Elizabeth Abreu (212) 264-2736 elizabeth.abreu@ sba.gov Sylvia Rivera (212) 264-0996
firstname.lastname@example.org Elaine Powell-Belnavis (212) 264-4330 elaine.powell. email@example.com Man-Li Lin (212) 264-7060 firstname.lastname@example.org Regional Communications Director Matt Coleman (212) 264-1450 matthew.coleman@ sba.gov
Beth L. Goldberg District Director
LOCAL BUSINESS ASSISTANCE
Gia Giasullo & Peter Freeman Owners, Brooklyn Farmacy & Soda Fountain Cobble Hill, Brooklyn, NY How We Did It
LOCAL BUSINESS ASSISTANCE
fter struggling for a year and a half to find startup funding for their retro soda shop concept, Gia Giasullo and Peter Freeman turned to the SBA. With business guidance and SBA-backed loans, they set up shop in a former Brooklyn pharmacy, growing from a local destination to a tourist stop. At Brooklyn Farmacy, soda jerks prepare authentic
Brooklyn-style egg creams and other beverages surrounded by nostalgic décor, vintage medical paraphernalia and shelves stocked with local grocer items and penny candy. Gia and Peter continue to consult with their local Small Business Development Center adviser, staying nimble and strategically growing in the challenging service/retail market. What was your challenge? Just after the national financial crisis, it was really hard for original business concepts like ours to secure startup funding. We weren’t able to qualify for traditional financing because neither of us had the business experience or credit history. We did our best to present a compelling story to our area lenders, but we were repeatedly turned down. What was the solution? We needed some business guidance to get to the point in which we could secure financing. The SBA funds and supports local resource partners like the Brooklyn Small Business Development Center. Our business adviser helped us align our projections to more accurately reflect our actual growth and growth potential. Our adviser worked one-on-one with us for free, which was vital in those early days. The SBA New York District Office and our SBDC advisers helped us gain key insights into marketing and small business management, which has paid off long term. We were then able to pursue small business financing. The SBA guarantees loans made by lending institutions to small businesses that cannot find conventional financing elsewhere. We qualified for a $1 million SBA-backed 504 Certified Development Company loan from NYBDC that helped us create jobs and become an economic force for good in our neighborhood. We later received an SBA-backed 7(a) loan of $600,000 for working capital. What was the benefit to your business? We employ about 20 in our Cobble Hill shop. We hire local youths, giving many of them their first jobs and a peek into small business ownership.
The SBA New York District Office and our SBDC advisers helped us gain key insights into marketing and small business management, which has paid off long
term. ” Gia Giasullo
& Peter Freeman Owners, Brooklyn Farmacy & Soda Fountain
Brooklyn Farmacy Co-owner Peter Freeman
LOCAL BUSINESS ASSISTANCE
SBA Resource Partners No matter your industry, location, or experience, if you have a dream, the SBA is here to help you achieve it. Our SBA Resource Partners offer mentoring, counseling, and training to help you startup and thrive at all stages of the business life cycle. These independent organizations operating across the United States and U.S. territories are funded through SBA cooperative agreements or grants.
SMALL BUSINESS DEVELOPMENT CENTERS
950 Small Business Development Centers + 20 Veterans Business Outreach Centers + 100 Women’s Business Centers + 300 SCORE chapters +
Achieve your dream of business ownership and remain competitive in an ever-changing global economy with assistance from your local SBDC. Access free counseling and free or low- cost training on topics like regulatory compliance, technology development, and international trade. Find an SBDC adviser at sba.gov/sbdc .
Join the ranks of other business owners who have experienced higher revenues and increased growth thanks to SCORE, the nation’s largest network of volunteer business mentors. Experienced executives share real-world knowledge to fit your busy schedule. SCOREmentors are available for free as often as you need, in person, via email or over video chat. Find amentor at sba.gov/score .
WOMEN’S BUSINESS CENTERS
Women entrepreneurs receive essential business counseling and training from this national network of community-based centers. Each center tailors its services to help you navigate the challenges women often face when starting or growing a business. To learn about SBA resources for women visit sba.gov/women .
VETERANS BUSINESS OUTREACH CENTERS
Veteran and military entrepreneurs receive business training, counseling, and referrals to other SBA Resource Partners at a Veterans Business Outreach Center, sba.gov/vboc . Receive procurement guidance to better compete for government contracts. VBOCs also serve active duty service members, National Guard or Reserve members, veterans of any era, and military spouses.
LOCAL BUSINESS ASSISTANCE
SBA’s Resource Partners are independent organizations funded through SBA cooperative agreements or grants. Our Local SBA Resource Partners
Columbia-Harlem SBDC Columbia Business School 475 Riverside Drive, third floor (646) 745-8573 email@example.com Director Kaaryn Nailor Simmons gsb.columbia.edu/sbdc THE BRONX Lehman College SBDC 250 Bedford Park Blvd. W. Carman Hall, room 128 (718) 960-8806 firstname.lastname@example.org Director Clarence Stanley bronx.nyssbdc.org
BROOKLYN NewYorkCityCollegeof TechnologySBDC Howard Building 25 Chapel St., 11th floor (718) 797-0187 email@example.com Acting Director Miriam Colon brooklyn.nyssbdc.org
FARMINGDALE Farmingdale SUNY SBDC 2350 Broadhollow Road (631) 420-2765 firstname.lastname@example.org Director Erica Chase farmingdale.edu/sbdc
Arthur and Sandra Johnson, owners of 21 Short Stop in Georgia, received
assistance from their local Small Business Development Center and SCORE chapter. Small Business Development Centers NEW YORK CITY Pace University SBDC 163 William St., room 328
STONY BROOK Stony Brook University SBDC Research & Support Services, building 17, room 146 (631) 632-9070
Baruch College SBDC 55 Lexington Ave. (at 24th Street), room2-140 (646) 312-4790 email@example.com Director Ulas Neftci blogs.baruch.cuny.edu
firstname.lastname@example.org Director Bernard Ryba stonybrook.edu/sbdc
(212) 618-6655 email@example.com Director Andrew Flamm pacesbdc.org
LOCAL BUSINESS ASSISTANCE
Dutchess Chapter Dutchess County Regional Chamber of Commerce 1 Civic Center Plaza, room400, Poughkeepsie (845) 454-1700 x1021 firstname.lastname@example.org dutchess.score.org Long Island Chapter SBA Long Island Office 350 Motor Parkway, room 109, Hauppauge (888) 433-3632 or (631) 454-0771 email@example.com longisland.score.org Orange County Chapter Goshen Chamber of Commerce 223 Main St., Goshen (845) 237-2476 firstname.lastname@example.org orange.score.org Putnam Chapter Donald B. Smith County Government Campus 110 Old Route 6, room 8, building 3, Carmel (845) 225-6030 email@example.com Brucker Hall, room 6102G 145 College Road, Suffern (845) 426-1206 firstname.lastname@example.org rockland.score.org Staten Island Chapter Staten Island Advance Building 950 W. Fingerboard Road, fourth floor (718) 727-1221 email@example.com statenisland.score.org Sullivan Chapter Sullivan County Partnership 198 Bridgeville Road, Monticello (845) 796-5270 firstname.lastname@example.org sullivancounty.score.org Ulster Chapter SUNY Ulster, HAR 210, Stone Ridge (845) 339-0468 email@example.com ulster.score.org Westchester Chapter New York State Department of Labor 120 Bloomingdale Road, White Plains (914) 948-3907 firstname.lastname@example.org westchester.score.org putnam.score.org Rockland Chapter Rockland Community College
JAMAICA York College SBDC 94-50 159th St., room 107 (718) 262-2880
Women’s Business Centers Business Outreach Center Network WBC Brooklyn 85 S. Oxford St., second floor Director Delia A. Awusi (718) 625-1276 email@example.com bocnet.org The Bronx 1231 Lafayette Ave. Director Luz-Maria Lambert (646) 723-3361 firstname.lastname@example.org bocnet.org Staten Island 705 Forest Ave., second floor Director Nina Flores
email@example.com Director Harry Wells york.cuny.edu/sbdc
LONG ISLAND CITY LaGuardia Community College/CUNY SBDC 30-20 Thomson Ave. (718) 482-5303 firstname.lastname@example.org
Director Rosa A. Figueroa laguardia.nyssbdc.org
SUFFERN Rockland Community College/SUNY SBDC Brucker Hall 145 College Road (845) 356-6065
email@example.com Director Thomas Morley rockland.nyssbdc.org
(718) 816-4775 firstname.lastname@example.org siboc.org
East New York Local Development Corp. 80 Jamaica Ave., third floor Brooklyn
KINGSTON Mid-Hudson SBDC at SUNY Ulster Business Resource Center 1 Development Court (845) 339-0025 email@example.com
Director Gail Davis (718) 385-6700 x24 firstname.lastname@example.org ldceny.org Queens Economic Development Corp. 120-55 Queens Blvd., suite 309 Kew Gardens Director Andrea Ormeno (718) 263-0546 email@example.com queensny.org Women’s Enterprise Development Center Inc. 901 N. Broadway, suite 23 White Plains Acting Director Anne Janiak (914) 948-6098 x11 wedcbiz.org Veterans Business Outreach Center 44 Dalliba Ave. Watervliet Director Amy Amoroso (518) 326.6328 firstname.lastname@example.org vbocregion2.com
Director Arnaldo Sehwerert mid-hudson.nyssbdc.org
STATEN ISLAND SBDC at College of Staten Island 2800 Victory Blvd., building 3A, room 105 (718) 982-2560 email@example.com Director Dean L. Balsamini sisbdc.org SCORE Contact your closest SCORE office first for an appointment. New York City Chapter 26 Federal Plaza, room 3100 (212) 264-4507 firstname.lastname@example.org newyorkcity.score.org
LOCAL BUSINESS ASSISTANCE
Your Advocates The SBA offices of advocacy and ombudsman are independent voices for small business within the federal government.
To report how a proposed federal regulation could unfairly affect you, find your regional SBA advocate at sba.gov/advocacy . To submit a comment about how your business has been hurt by an existing regulation, visit sba.gov/ ombudsman/comments .
The SBA’s Office of Advocacy also independently represents small business and advances its concerns before Congress, the White House, federal agencies, federal courts, and state policy makers. Ombudsman Entrepreneurs who have an issue with an existing federal regulation or policy can receive assistance from the SBA’s national ombudsman. The ombudsman’s office can help you: » resolve regulatory disputes with federal agencies » reduce unfair penalties and fines » seek remedies when rules are inconsistently applied » recover payment for services done by government contractors
Advocacy When you need a voice within the federal government for your interests as a small business owner, the SBA’s regional advocates are here to assist. The advocates analyze the effects of proposed regulations and consider alternatives that minimize the economic burden on small businesses, governmental jurisdictions, and nonprofits. Find your regional advocate at sba.gov/advocacy . Your advocate helps with these small business issues: » if your business could be negatively affected by regulations proposed by the government » if you have contracting issues with a federal agency » when you need economic and small business statistics
Make your voice heard by participating in a Regional Regulatory Enforcement Fairness Roundtable or a public hearing hosted by the SBA’s national ombudsman. These events are posted periodically on the ombudsman website, sba.gov/ombudsman . To submit a comment or complaint through the online form, visit sba.gov/ ombudsman/comments . Your concerns will be directed to the appropriate federal agency for review. The SBA will collaborate with you and the agency to help resolve the issue.
LOCAL BUSINESS ASSISTANCE
Dawn Kelly, owner of the Nourish Spot in Jamaica, Queens, received free business counseling through an SBA Resource Partner. With this guidance, Dawn started up and wrote her business plan.
How to Start a Business in Metro New York Thinking of starting a business? Here are the nuts & bolts.
The Startup Logistics Even if you’re running a home-based business, you will have to comply with many local, state, and federal regulations. Do not ignore regulatory details. You may avoid some red tape in the beginning, but your lack of compliance could become an obstacle as your business grows. Taking the time to research regulations is as important as knowing your market. Being out of compliance could leave you unprotected legally, lead to expensive penalties, and jeopardize your business. Market Research View consumer and business data for your area using the Census Business Builder: Small Business Edition, https://cbb.census.gov/ sbe . Filter your search by business type and location to view data on your potential customers, including consumer spending, and a summary of existing businesses, available as a map and a report.
Business License & Zoning Licenses are typically administered by a variety of state and local departments. It is important to consider zoning regulations when choosing a site for your business. Contact the local business license office where you plan to locate your business. You may not be permitted to conduct business out of your home or engage in industrial activity in a retail district. » New York State Business Information Center 99 Washington Ave., Albany (518) 485-5000 businessexpress.ny.gov Name Registration Register your business name with the county clerk where your business is located. If you’re a corporation, also register with the state. » New York Division of Corporations (518) 473-2492
LOCAL BUSINESS ASSISTANCE
Adriana Medina, owner of Fuerte Fitness, in Seattle, WA, received counseling from a SCORE mentor and a Women's Business Center adviser.
Taxes As a business owner, you should know your federal tax
Employment Eligibility Verification The Federal Immigration Reform and Control Act of 1986 requires employers to verify employment eligibility of new employees. The law obligates an employer to process Employment Eligibility Verification Form I-9. The U.S. Citizenship and Immigration Service offers information and assistance through uscis.gov/i- 9-central . For forms, see uscis.gov/forms . For the employer hotline call (888) 464-4218 or email Iemail@example.com. E-Verify is the quickest way for employers to determine the employment eligibility of new hires by verifying the Social Security number and employment eligibility information reported on Form I-9. Visit e-verify.gov , call (888) 464-4218 or email firstname.lastname@example.org. Health & Safety All businesses with employees are required to comply with state and federal regulations regarding the protection of employees, visit dol.gov for information. The Occupational Safety and Health Administration provides information on the specific health and safety standards used by the U.S. Department of Labor, (800) 321- 6742 or visit osha.gov . » Division of Labor Standards State Campus, building 12, Albany (518) 457-9000 Employee Insurance Check with your state laws to see if you are required to provide unemployment or workers’ compensation insurance for your employees. For health insurance options, call the Small Business
responsibilities and make some business decisions to comply with certain tax requirements. The IRS Small Business and Self- Employed Tax Center, irs.gov/businesses/small-businesses- self-employed , includes information on paying and filing income tax and finding an Employer ID Number. As the IRS continues to implement some of the Tax Cuts and Jobs Act provisions, your tax obligations may change. For the latest tax reformupdates that affect your bottom line visit irs.gov/tax-reform . » State Taxes NYS Department of Taxation & Finance (518) 485-2889 New York City Taxes
Dial 311 within New York City or (212) 639-9675 outside of the Five Boroughs. Social Security
If you have any employees, including officers of a corporation but not the sole proprietor or partners, you must make periodic payments, and/or file quarterly reports about payroll taxes and other mandatory deductions. You can contact the IRS or the Social Security Administration for information, assistance, and forms, at (800) 772-1213 or visit socialsecurity.gov/employer . You can file W-2s online or verify job seekers through the Social Security Number Verification Service.
LOCAL BUSINESS ASSISTANCE
Health Options Program at (800) 706-7893 or visit healthcare. gov/small-businesses/employers . Association Health Plans allow small businesses, including self-employed workers, to band together by geography or industry to obtain healthcare coverage as if they were a single large employer. For information, visit dol.gov/general/topic/ association-health-plans .
Kari Weigel provides educational services to rural communities through her Sylvan Learning Center in Fargo, ND, which she expanded with the help of SBA-backed financing.
» New York State Department of Health Corning Tower, Empire State Plaza, Albany (866) 881-2809 email@example.com Environmental Regulations
State assistance is available for small businesses that must comply with environmental regulations under the Clean Air Act. State Small Business Environmental Assistance programs provide free and confidential assistance to help small business owners understand and comply with environmental regulations and permitting requirements. These state programs can help businesses reduce emissions at the source, often reducing regulatory burden and saving you money. To learn more about these free services visit nationalsbeap.org/states/list . » Environmental Protection Agency Small Business Division epa.gov/resources-small-businesses Accessibility & ADA Compliance For assistance with the Americans with Disabilities Act, call the ADA center at (800) 949-4232 or the Department of Justice at (800) 514-0301. Direct questions about accessible design and the ADA standards to the U.S. Access Board at (800) 872-2253, TTY (800) 993-2822, firstname.lastname@example.org or visit access-board.gov . Child Support Employers are essential to the success of the child support program and collect 75%of support nationwide through payroll deductions. You’re required to report all new and rehired employees to the State Directory of NewHires. If you have employees in two or more states, youmay register with the Department of Health and Human Services to report all your employees to one state. Find electronic income withholding orders and the Child Support Portal, which can be used to report information to nearly all child support agencies, at acf.hhs.gov/programs/css/employers . Send questions to email@example.com. Intellectual Property Patents, trademarks, and copyrights are types of intellectual property that serve to protect creations and innovations. For information and resources about U.S. patents and federally registered trademarks consult uspto.gov, call(800) 786-9199 or visit the U.S. Patent and Trademark Office headquarters in Alexandria, Virginia. For inventor entrepreneur resources visit uspto.gov/inventors . There are three types of patents: • Utility patents may be granted to anyone who invents or discovers any new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement. • Design patents may be granted to anyone who invents a new, original, and ornamental design for a manufactured article.
• Plant patents may be granted to anyone who invents or discovers and asexually reproduces any distinct and new variety of plant, other than a tuber propagated plant or a plant found in an uncultivated state. A trademark or service mark includes any word, name, symbol, device, or any combination, used to identify and distinguish the goods/services of one provider from others. Trademarks and service marks may be registered at both the state and federal level. The U.S. Patent and Trademark Office only registers federal trademarks and service marks, which may conflict with and supersede state trademarks. Visit uspto.gov/trademarks . » State Trademarks New York Division of Corporations (518) 473-2492 Copyrights protect original works of authorship including literary, dramatic, musical and artistic, and certain other intellectual works, such as computer software. Copyrights do not protect facts, ideas, and systems, although they may protect the way they are expressed. For general information on copyrights, contact: » U.S. Copyright Office U.S. Library of Congress James Madison Memorial Building 101 Independence Ave. SE Washington, DC (202) 707-3000 or toll free (877) 476-0778 copyright.gov
Export Assistance New York U.S. Export Assistance Center 290 Broadway, Room 1312 New York City (212) 809-2642 export.gov Global NY State Trade Expansion Program
Empire State Development 633 Third Ave., 36 th floor
New York City (212) 803-3130 esd.ny.gov/global-ny-state-trade-expansion-program-step
LOCAL BUSINESS ASSISTANCE
Vocademy in Riverside, vocademy.com , trains underserved populations for vocational careers in manufacturing. Indiana Ruckus Makerspace in Indianapolis, ruckusindy.com , provides coaching and job placement complementing day-to-day job skills training. Massachusetts The Clubhouse-to-Career Pathways to Success program in Roxbury, flagshipclubhouse.org/c2c , places its participants in meaningful employment matching their skill sets. Missouri Rightfully Sewn in Kansas City, rightfullysewn.org , prepares at-risk women and underserved populations for entry level sewing positions, increasing their tailoring and production management skills. New Hampshire Monadnock Art x Tech Makerspace in Peterborough fills the need for qualified welders in construction and industry, visit monadnockartxtech.org . New Jersey New Jersey Institute of Technology Makerspace in Newark connects participants with entry level advanced manufacturing jobs, in addition to an apprenticeship program, visit njitmakerspace.com . New York The Foundry in Buffalo, thefoundrybuffalo.org , operates four makerspaces, metal and wood shops and tech and textile labs, in support of education and entrepreneurship. North Carolina Forge Greensboro connects untapped talent to employment opportunities through pre-apprenticeship programs and accreditation, visit forgegreensboro.org . Oklahoma Fab Lab Tulsa prepares participants with high-value skills to secure careers as operators and technicians in digital fabrication, visit fablabtulsa.org . Pennsylvania NextFab’s Furnishing a Future program in Philadelphia places trained carpenters, visit nextfab.com .
NJIT Makerspace works to create an environment for students to participate in American industrial development. Mechanical engineering student Mike Talbot has learned metal work and 3D Printing at the Newark makerspace, which receives SBA funding for its programs.
Workforce Recruitment Find qualified workers at these makerspace initiatives fund d by the SBA. If you are a small business employing skilled laborers, access a new talent pool for recruitment at your local makerspace. How it benefits you These community operated workspaces provide training and resources to better prepare workers for the jobmarket, offering job-specific and soft skills training. Connect with one of these organizations to see if thesemakerspace participants could work for your small business. California Workshops for Warriors, wfw.org , trains, certifies to national standards, and places veterans into advanced manufacturing careers nationwide.
LOCAL BUSINESS ASSISTANCE
Learn the skills to grow your small business in this seven-month course.
Accelerate Growth Small business executives looking to grow their business, create jobs, and strengthen their communities will find their next challenge
in the SBA Emerging Leaders program. This seven-month course offers about 100 hours of training and provides the opportunity for high-potential small business owners to work with experienced coaches and mentors while developing connections with peers, local leaders, and the financial community. How it benefits you Since the start of the program in 2008, Emerging Leaders graduates have reported creating over 6,500 jobs, gaining more than $300 million in new financing, and securing over $3.16 billion in government contracts. Participants produce a three-year strategic growth plan that connects them with the necessary tools and resources to reach major performance targets. What you learn The curriculum is research-based and nationally scalable, enabling you to engage in focused development and expansion strategies, including options for accessing new capital and securing government contracts. Who’s eligible Small businesses having annual revenues of at least $250,000, in business for at least three years, and with at least one employee.
HOW THE SBA HELPED ME SUCCEED When April Broderick wanted to expand into government contracting, she turned to the SBA. A&A Fire and Safety Co. in Cabot, AR serves the fire protection and service needs of businesses, schools, and fire departments across Arkansas. She took over from her father, Alan, in 2014, becoming one of the few women executives in her industry. With the help of the SBA Emerging Leaders program, April received business training and networking opportunities to help her better compete in the public marketplace. April committed to the program because she wanted to develop a three- year growth plan with business experts. Since graduating from Emerging Leaders, she has grown her business to six full-time employees, seven part time, with a projected 2019 revenue of $1.7 million.
Get involved To register online, visit sba.gov/ emergingleaders .
LOCAL BUSINESS ASSISTANCE
Opportunities for Veterans
Military community members become more successful entrepreneurs with the help of the SBA.
VIP Grow Strategize to expand and operate within the federal marketplace. VIP International Enter or expand your federal and commercial contracting opportunities overseas. Get certified Learn about the service-disabled veteran- owned small business certification program on page 49. Need assistance? Veteran and military entrepreneurs receive business training, counseling, and referrals to other SBA Resource Partners at a Veterans Business Outreach Center, sba.gov/vboc . For veterans business information visit sba.gov/veterans .
Financing Employee called to active duty?
Entrepreneurship training In Boots to Business, explore business ownership and other self-employment opportunities while learning key business concepts. Walk away with an overview of entrepreneurship and applicable business ownership fundamentals, including how to access startup capital using SBA resources. Boots to Business is conducted on all military installations as part of the Department of Defense’s Transition Assistance Program. Who’s eligible? Service members transitioning out of active duty and military spouses. Boots to Business: Reboot, for veterans, National Guard or Reserve members and military spouses, teaches this entrepreneurship curriculum off base in communities. Register for either B2B program at https://sbavets.force.com . For women veterans Receive entrepreneurial training geared toward women veterans, service members, and spouses through these SBA- funded programs: » Veteran Women Igniting the Spirit of Entrepreneurship in Syracuse, New York » LiftFund in San Antonio, Texas For service-disabled veterans Learn how to start and grow a small business using these SBA-funded programs: » Entrepreneurship Bootcamp for Veterans with Disabilities in Syracuse, New York » Veterans Entrepreneurship Program at the Riata Center for Entrepreneurship, Spears School of Business, Oklahoma State University in Stillwater, Oklahoma » Veteran Entrepreneurship Jumpstart at St. Joseph’s University in Philadelphia, Pennsylvania » Dog Tag Inc., affiliated with Georgetown University in Washington, DC
You can receive funds that enable your business to meet ordinary and necessary operating expenses when an essential employee is called up to active duty in the military reserve. Ask your local SBA specialist or lender about the Military Reservist Economic Injury Disaster Loan. Government contracting Veteran-owned and service-disabled veteran-owned small businesses that want to better compete in the public market receive training from the Veteran Institute for Procurement, nationalvip.org . VIP Start Enter the federal market and become ready for procurement.
AVMAC President/CEO Bert Ortiz, left, and fellow U.S. Navy veteran and electrician Ken Morey manufacturing a power panel bracket.
HOW THE SBA HELPED US SUCCEED U.S. Navy veteran Roberto Ortiz puts his 40 years of aviation management experience to use as a small business owner in Chesapeake, VA. Bert expanded AVMAC Inc. into the government sector fulfilling aviation and maritime logistical services with the help of his local SBA Veterans Business Outreach Center. VBOCs are the first stop for military community entrepreneurs looking to start, grow, or expand a small business. The VBOC located at Old Dominion University helped Bert obtain government contracting business certifications. With support from his local VBOC, Bert has strategically position AVMAC in the federal marketplace to better compete for large-scale government contracts. From AVMAC’s first contract in 2010, this veteran-led company has nearly doubled in revenue and grown to over 400 employees.
LOCAL BUSINESS ASSISTANCE
Write your Business Plan
Your business plan is the foundation of your business. Learn how to write a business plan with the help of an SBA Resource Partner. TRADITIONAL BUSINESS PLAN FORMAT
When you write your business plan, you don’t have to stick to the exact business plan template. Instead, use the sections that make the most sense for your business and your needs. Executive Summary Briefly summarize your company and why it will be successful. Include your mission statement, your product or service, and basic information about your company’s leadership team, employees, and location. You should also include financial information and high-level growth plans if you plan to ask for financing. Company Description Go into detail about the problems your business solves. Be specific as to audience and location. List out the consumers, organizations, or businesses your company plans to serve. Explain the competitive advantages you have that will make your business successful. Are there experts on your team? Have you found the perfect location? Your company description is the place to boast about your strengths. Market Analysis Demonstrate a solid understanding of your industry outlook and tar- get market. This is where it pays to partner with an experienced busi- ness counselor fromyour local Small Business Development Center, SCORE, Women's Business Center, or Veterans Business Outreach Center—all these SBA Resource Partners provide free or low-cost business assistance. Competitive research will showwhat other busi- nesses are doing and their strengths. In your market research, look for trends and themes. What do successful competitors do? Why does it work? Can you do it better? Now's the time to answer these questions. Organization and Management
Business plans help you run your business. A good business plan guides you throughmanaging your business. You’ll use your business plan as a roadmap for how to structure, run, and grow your new business. Business plans can help you get funding or bring on new business partners. Investors want to see a return on their investment. Your business plan is the tool you’ll use to convince people that working with you—or investing in your company—is a smart investment. Brain storm with a business counselor (visit one of our SBA Resource Partners detailed on page 10) and write a traditional business plan , which uses a standard structure and detailed sections. Once you've got it all down, you can then condense it to a lean startup business plan, which typically contains key points on only one page.
Explain how your com- pany will be structured and who will run it. Describe the legal structure of your busi- ness. Statewhether you have or intend to incor- porate your business as a C or an S corporation, forma general or limited partnership, or if you're a sole proprietor or limited liability company.
Want to see an example of a business plan? View examples of business plans at sba.gov/business-guide/plan/ write-your-business- plan-template
LOCAL BUSINESS ASSISTANCE
LEAN STARTUP PLAN FORMAT Write a lean startup plan if requested from an investor, or if your business is relatively simple or you plan to regularly change and refine as you go. Lean startup plans use more visual organization tools and only a handful of elements to describe your company’s value proposition, infrastructure, customers, and finances. They’re useful for visualiz- ing your company's fundamental facts. Your business counselor can help you edit down into the Business Model Canvas, used here—the most well known style, or another lean startup template. Key Partnerships Note the other businesses you’ll work with--suppliers, manufactur- ers, subcontractors, and similar strategic partners. Key Activities List the ways your business will gain a competitive advantage. Will you sell direct to consumers or use technology to tap into the sharing economy? Key Resources List resources you’ll leverage to create value for your customer. Your most important assets include staff, capital, or intellectual property. Leverage business resources that might be available to women, veterans, Native Americans, and HUBZone–certified businesses. Value Proposition Make a clear and compelling statement about the unique value your company brings to the market. Customer Relationships Describe how customers will interact with your business. Think through the customer experience from start to finish. Is it auto- mated or personal? In person or online? Customer Segments Name your target market. Your business won’t be for everybody; it’s important to have a clear sense of who you serve. Channels List the most important ways you’ll talk to your customers. Cost Structure Will your company focus on reducing cost or maximizing value? Define your strategy, then list the most significant costs you’ll face. Revenue Streams Explain how your company makes money: direct sales, member- ships fees, selling advertising space? If your company has multiple revenue streams, list them all.
Use an organizational chart to show the hierarchy. Explain how each person’s experience will contribute to the success of your venture. Consider including CVs of key members. Service or Product Line Describe what you sell or what service you offer. Explain how it ben- efits your customers and the product lifecycle. Share your plans for intellectual property, like copyright or patent filings. If you're doing research and development for your service or product, explain it. Marketing and Sales Your marketing strategy should evolve and change to fit your needs in each context. Describe how you'll attract and retain customers. Show how a sale will actually happen. You'll refer to this section later when you make financial projections, so be thorough. Funding Request If you're asking for funding, outline your funding requirements. Specify whether you want debt or equity and the terms you'd like. Your goal is to clearly explain how much funding you’ll need over the next five years and how the investment will be used. Specify if you need funds to buy equipment or materials, pay salaries, or cover specific bills until revenue increases. Explain how ❒ Executive summary ❒ Company description ❒Market analysis ❒ Organization and management ❒ Service or product line ❒Marketing and sales ❒ Funding request ❒ Financial projections ❒ Appendix TRADITIONAL BUSINESS PLAN CHECKLIST
you'll pay off the debt. Financial Projections
Supplement your funding request with a prospective financial outlook for the next five years. Show how your business will be a financial success. If your business is already established, include income state- ments, balance sheets, and cash flow statements for the last three to five years. List collateral you could put against a loan. Include forecasted income statements, balance sheets, cash flow statements, and capital expenditure budgets. For the first year, be even more specific and use quarterly—or even monthly —projections. Make sure to clearly explain your projections and match them to your funding requests. Use visual organization tools--graphs and charts—to tell your business's financial story. Appendix Here you'll attach supporting documents or other requested materials. Common items to include are credit histories, CVs, product pictures, letters of reference, licenses, permits, patents, legal documents, and other contracts.
LEAN STARTUP PLAN CHECKLIST
❒ Key partnerships ❒ Key activities ❒ Key resources ❒ Value proposition ❒ Customer relationships
❒ Customer segments ❒ Channels ❒ Cost structure ❒ Revenue streams
LOCAL BUSINESS ASSISTANCE
Regional Innovation Clusters Create jobs and grow the economy through an SBA Regional Innovation Cluster. Who should join Small businesses driving innovation in one of these tech industries: • advanced composites • agTech • bioscience • food processing • data sciences
Online Learning Find free short courses and learning tools to start and grow your small business at sba.gov/learning . The free SBA Online Learning Center is a great resource for every entrepreneur, especially rural business owners looking for easy access to vital business training. Courses include: • writing your business plan • understanding your customer • buying a business • marketing to win customers
• medical sciences • power and energy • unmanned aerial systems • water tech • wood products
• legal requirements • financing options • disaster recovery
How it works Each industry cluster is based in a geographic region. Your small business must be located in or near that region in order to join the cluster. For example, the AgLaunch Initiative cluster, which focuses on agricultural technology, is located in the Tennessee area. A small agTech business in or near Tennessee will connect with other agTech suppliers, service providers, and related institutions through that innovation cluster. How it benefits you Network with other industry innovators and connect with resources that will help your small business find funding. You’ll also receive guidance on how to better compete for government contracts and other opportunities so you can grow and expand. Receive free technical and legal assistance to develop your tech and get it to market for government and industry buyers. Get involved Find an SBA Regional Innovation Cluster near you by visiting sba.gov/localassistance . Select the regional innovation clusters on the drop-down menu.
Native American Workshops Tribal enterprises and business organizations can receive entrepreneurial training at an SBA Entrepreneurial Empowerment Workshop. These workshops cover business concepts important for starting, growing, or expanding a small business. RedWind instructors identify and help participants avoid common pitfalls. Learn how to prepare a business plan, gain access to capital, and basic book keeping. Request a workshop in your area by visiting nativesmallbusiness.org .
FUNDING PROGRAMS Financing Your Small Business
Crafting a Business SBA-backed financing helped Superstition Meadery expand into a multimillion dollar enterprise. written by Becky Bosshart How We Did It
Solution Thanks to guidance from an SBA Resource Partner, the Small Business Development Center at Yavapai Community College, Jennifer and Jeff learned about financing that worked for them. The SBA guarantees loans made by lending institutions to small business that would not otherwise be able to obtain financing. Their small business qualified for two SBA-backed loans totaling more than $600,000. The Herberts’ first SBA-backed loan allowed them to acquire commercial property to design and build their mead production facility. Their second SBA-backed loan provided the funding for professional brewing equipment to complete their 7,450-square-foot production space. The Herberts recently purchased a historic building in downtown Phoenix, Arizona to open a mead-pairing restaurant. Benefit The Herberts started with two employees and now have over 20 producing 29,000 gallons this year. From a homegrown setup, Jennifer and Jeff are now charting revenue in excess of $2.6 million and distributing to 37 states, across Europe and Southeast Asia. They have plans for another expansion, including a shipping warehouse to manage their online retail and wholesale orders.
ennifer and Jeff Herbert’s home-based brewing has expanded into a global, multimillion dollar enterprise thanks to SBA
assistance. Using Arizona honey and ingredients they’ve sourced from around the world (such as Tahitian vanilla and Moroccan saffron), the Herberts are selling nearly 30,000 gallons annually of their honey-based fermented beverage. They operate a downtown Prescott, Arizona tasting room and state-of-the-art production facility, creating jobs and building a local craft industry. The Herberts, founding members of the American Mead Makers Association, have traveled around the world hosting pairing events and pouring at craft beverage festivals. Challenge The Herberts wanted to scale up their meadery while also staying true to their values of quality ingredients and craft process. It is often difficult for new entrepreneurs or unique concepts like a meadery to get traditional financing, even though they knew they had a great idea, the backing wasn’t there to expand. They say that choosing to do something new breaks the mold, which can be uncomfortable for traditional lenders.
5 Tips for Success Get guidance. Develop a working relationship with an SBA Resource Partner (see page 10) to help you find the funding that works best for you. Define your lending needs. Determine if a loan is right for you. Is this the right time? How much do you need? What are you going to use it for? Talk to multiple lenders. See who best matches you and your business. Has the lender successfully worked with other businesses in your industry? Check all options. Consult with your lender to see if you’re eligible for SBA financing programs, determined by your industry & experience; collateral; credit score; and the relationship & transparency you develop with the lending agent.
Be ready for the ups and downs.
Your entrepreneurial endeavor will be a roller coaster ride filled with challenges and successes. The path is all consuming so make sure that you love what you do. Passion is the price of admission.
Jeff & Jennifer Herbert, owners of Superstition Meadery, completed their 7,450-square- foot production space and opened a tasting room in Prescott, AZ with the assistance of SBA-backed financing. See their story on YouTube by searching for the 2019 National Small Business Persons of the Year.
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