Small Business resource guide WYOMING EDITION 2020
1 START GROW EXPAND YOUR BUSINESS
Wyoming 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 Entrepreneurial Opportunities 19 Opportunities for Veterans 20 Write Your Business Plan 22 Local Success Story Ryan Gregory got his start working for others—on ranches, in construction, and for energy companies. When it came time
26 National Success Story Jennifer and Jeff Herbert’s
meadery has expanded into a multimillion dollar enterprise thanks to SBA assistance.
29 SBA Lenders 32 Financing 101 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
for him to grow his own small business, he turned to the SBA.
24 Local Success Story
With guidance from the SBA Wyoming District office and the Small Business Development Center, Stacy Bair started up as a first-time business owner.
44 National Success Story Jennifer Rahn steers the course for Admiral Engineering, succeeding as a small business subcontractor. 47 Government Contracting 48 SBA Certification Programs 49 Woman-Owned Small Business Certification
ON THE COVER Ryan Gregory, courtesy of the SBA; Stacy Bair, courtesy of Bairco Construction
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
PUBLISHED BY New South Media, Inc. 304.413.0104 | newsouthmedia.com
PUBLISHER Nikki Bowman, email@example.com
DESIGNER Hayley Richard, firstname.lastname@example.org
MANAGING EDITOR Holly Leleux-Thubron, email@example.com
ASSOCIATE EDITORS Pam Kasey, firstname.lastname@example.org
OPERATIONS MANAGER Meggan Hoyman, email@example.com
ADVERTISING SALES DIRECTOR Heather Mills, firstname.lastname@example.org
ADVERTISING SALES Kelley McGinnis, Bryson Taylor email@example.com
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.
Printed in the United States of America.
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 Wyoming District Office 150 E. B St., room 1011 Casper, WY 82601 (307) 261-6500 sba.gov/wy @SBA_Wyoming
District Director Letter T his 2020 edition of the U.S. Small Business Administration’s Wyoming Small Business Resource Guide directs you to SBA resources and tools for business assistance. You'll be encouraged by our many success stories. The SBA is committed to helping small businesses start, grow, expand, and recover. The Wyoming economy depends on small businesses, and we empower entrepreneurs to help realize their dreams of business ownership. Wyoming is home to over 65,000 small businesses, nearly 99% of all enterprises in our state. Our small businesses employ 137,000 workers, about 62% of the workforce. There is a lot to be excited about when it comes to small business in the Cowboy State. The beauty of entrepreneurship is you don’t have to do it alone. There are many resources and tools designed to help you on your journey. Wyoming has a network of industry experts that can help you achieve your business goals. Contact your local Wyoming Small Business Development Center or SCORE chapter. The Wyoming Women’s Business Center and the folks here in the SBA Wyoming District Office can help you get the business assistance you need. Connect with SBA Wyoming online and register for email updates at sba.gov/wy . We look forward to empowering your small business to succeed.
District Director Amy Lea (307) 247-3191 firstname.lastname@example.org Deputy District Director Deb Farris (307) 247-3736 email@example.com Administrative Officer Marilyn Coy (307) 267-3433 firstname.lastname@example.org Lender Relations Specialist/ District International Trade Officer Steve Immel (307) 247-2385 email@example.com Public Affairs Specialist/Veteran Business Development Officer
Jordan Belser (307) 441-1192 firstname.lastname@example.org
Amy C. Lea Wyoming District Director
LOCAL BUSINESS ASSISTANCE
Made to Last Joyce and Jerado Reynolds used SBA support to succeed. Written by Micaela Morrissette How We Did It
LOCAL BUSINESS ASSISTANCE 5 Tips for Success Find a great business mentor.
eynolds Welding & Fabrication has grown steadily, building a loyal customer base, since Jerado Reynolds founded
the company in 2005. “At first the company was just Jerado,” recalls his wife and co-owner, Joyce Reynolds. “Then it was him and me part time.” During the day she worked as a nurse and spent her evenings doing all the company’s paperwork. The Reynolds sank everything they earned into the business—money, time, and energy. She remembers with pride helping Jerado weld a stair railing at a local school. Her son later attended that same school, and she watched her child and others using the rail, benefiting from the hard work the couple did together. It was then Joyce decided as much as she loved her day job, she wanted to devote herself full time to the family business in Windsor, Connecticut. She wanted to work side-by-side with her husband, fully focused on administration and business growth. As they both hoped, word of mouth spread; clients made referrals. Joyce was soon overwhelmed with paperwork. They brought on two employees—doubling up in the busy seasons. They were able to maintain four full-time employees by 2009. After this, Joyce says, they saw that “things were not moving.” She wanted to scale up. Challenge The company wasn’t growing in part because it wasn’t certified with the state department of transportation or prequalified with the Connecticut State Department of Administrative Services, Joyce says. She decided to tackle the certification problem full time, leaving her nursing career. This was the change she'd been wanting to make, but since her background was in health care, Joyce didn’t feel fluent in the languages of construction or business. Joyce wanted to learn, and she had incentive: they needed the certifications to bid on bigger jobs. “Never be afraid to ask questions”, she says. Joyce needed to find people with answers. Solution She and Jerado connected with the University of Hartford Entrepreneurial Center &Women’s Business Center, an
To find your local SBA office and resource partners in your area, visit sba.gov/localresources .
Have a healthy view of competition. We’re not always competing.
We’re a competitor, but if a similar business has extra work, they’ll send it to us and vice versa. That’s the relationship to have.
SBA Resource Partner, where “from day one it was, Eureka! Everyone wanted to see us win.” Women entrepreneurs receive essential business counseling and training from this national network of community-based centers. Most helpful was the detailed personal attention available through free one-on-one business counseling. Joyce also learned about workshops offered by providers like the Metropolitan District, a Connecticut nonprofit municipal corporation offering water and sewer services. At a meet- and-greet, Joyce understood howmuch the SBA could help her business. An SBA professional walked Joyce through the extensive paperwork and, crucially, helped her register the company in the System for Award Management (sam.gov), positioning the company for new federal contracts. “Resources like the Entrepreneurial Center and the SBA will train you from bottom to top”, Joyce says. “They have finance classes that open your eyes regarding taxes. You'll learn how to register your business. They’ll help with a contract or your website or accountability statements. Everything!” Before the SBA, Reynolds Welding attempted the DOT certification on five separate occasions, always falling short because the process was so complicated. Joyce secured the certification with SBA guidance on the first attempt. Benefit Reynolds Welding now employs more than 15 workers, constructing stairs, rails, structural beams, and columns throughout the region. Jerado is working
Record everything you do. Navigating business relationships in this age means keeping an email record of everything you do. Leave a clear paper trail.
Sacrifice to ensure quality. We don’t cut corners. Sometimes you have to lose money to do quality work— it’s rough, but nothing is more important.
Seek SBA assistance to see if you qualify for business certifications. We used to look for jobs. Now that we’re on the SBA Subcontracting Network database, SubNet, and sam.gov , we have a continuous flow of contractors reaching out to us. on two bridges—a lifelong dream. Joyce continues to move forward, getting Reynolds qualified for the SBA 8(a) Business Development Program, which provides free business development education to small businesses so they can better compete in the public sector. “When I came on full time, I set a goal for what I would like for the company, and I’ve achieved 80% of that”, Joyce says. When she secures 8(a) certification for Reynolds, she’ll have hit all her objectives. Then, she admits, she’ll probably come up with some new ones.
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
Serving Carbon and Albany counties Regional Director James Drever 766-3505 email@example.com Serving Converse, Natrona, Niobrara, and Platte counties Regional Director Steen Stovall 234-6683 firstname.lastname@example.org Serving Goshen and Laramie counties Regional Director John Privette 772-7371 email@example.com Serving Lincoln, Sublette, Sweetwater, and Uinta counties Regional Director Rob Condie 352-6894 firstname.lastname@example.org Serving Teton and Fremont counties Regional Director Sarah Hamlin 851-2029 email@example.com Market Research Center ProgramManager Mike Lambert 766-2688
SCORE Visit sba.gov/score to start working on your business goals. Contact your local office to schedule an appointment. Cheyenne Chapter Chair Merrie Elsberry 635-2726 firstname.lastname@example.org Small Business Development Arthur and Sandra Johnson, owners of 21 Short Stop in Georgia, received assistance from their local Small Business Development Center and SCORE chapter.
email@example.com Market Researchers Nicholas Giraldo 766-5405 firstname.lastname@example.org Audrey Jansen 766-6472 email@example.com
Associate State Director Paul Johnson 766-3593 firstname.lastname@example.org Marketing and Communications Specialist Jake Dixon 761-5012 email@example.com Serving Big Horn, Hot Springs, Park, and Washakie counties Regional Director Bruce Morse 754-2139 firstname.lastname@example.org Serving Campbell, Crook, Johnson,
Wyoming Small Business Innovation Research/Small Business Technology Transfer Initiatives WSSI Manager Kelly Haigler Cornish 766-2904 email@example.com
Centers wyomingsbdc.org State Director Jill Kline 766-3405 firstname.lastname@example.org
Sheridan, and Weston counties Regional Director Susan Jerke 682-5232 email@example.com
LOCAL BUSINESS ASSISTANCE
WEST REGION Serving Lincoln, Sublette, Teton, and Uinta counties Regional Director Elaina Zempel 877-2203 firstname.lastname@example.org Manufacturing- Works Wyoming MEP manufacturing-works.com Receive expert advice and business assistance to manufacture in Wyoming Center Director Rocky Case 220-1264 email@example.com Assistant Director Nancy Fallas 766-4812 firstname.lastname@example.org Serving Laramie Account & Project Manager Josh Watson 766-4812 email@example.com Serving Cheyenne Account & Project Manager Michael Grundy (503) 804-6754 firstname.lastname@example.org Serving Sheridan Account & Project Manager Tyler O’Daniel (308) 430-0366 email@example.com Serving Afton Project Manager Marty Occhi 248-3682 firstname.lastname@example.org Serving Riverton Consultant Kevin Kershisnik 856-0952 email@example.com Women’s Business Center wyomingwomen.org Executive Director Debbie Gorski 460-3944 firstname.lastname@example.org Project Director/Business Counselor Jonathan Howdeshell 460-3949 email@example.com
Wyoming Business Council wyomingbusiness.org Get help starting up your business, access public infrastructure and other state resources from the Wyoming Business Council. Business Development Director Ron Gullberg 777-2833 firstname.lastname@example.org Business Development Division Director Brandon Marshall 777-2820 email@example.com Economic Development Finance Manager Josh Keefe 777-2882 firstname.lastname@example.org NORTHWEST REGION Serving Big Horn, Hot Springs, Park, and Washakie counties Regional Director Amy Quick 421-0140 email@example.com SOUTH CENTRAL REGION Serving Fremont and Sweetwater counties Regional Director Marcio Paes-Barreto 630-4679 firstname.lastname@example.org EAST CENTRAL REGION Serving Converse, Natrona, Niobrara, and Platte counties Regional Director Kimberlie Rightmer 577-6012 email@example.com NORTHEAST REGION Serving Campbell, Crook, Johnson, Sheridan, and Weston counties Regional Director Brandi Harlow 689-1320 firstname.lastname@example.org
O'Connor Belting, a Delaware family-owned business, expanded with the help of an SBA-guaranteed 7(a) loan.
Veterans Business Outreach Center vbocregion8.com Veteran entrepreneurs or small business owners can receive business training, counseling and mentoring, and referrals to other SBA Resource Partners at a Veterans Business Outreach Center, sba.gov/vboc . This is also the place to receive procurement guidance, which can help your business better compete for government contracts. VBOC Director Dustin Frost (406) 869-8408 email@example.com Senior Training Manager Brian Clemons (406) 702-6675 firstname.lastname@example.org
SOUTHEAST REGION Serving Albany, Carbon, Goshen, and Laramie counties Regional Director Heather Tupper 777-2804 email@example.com
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
Adriana Medina, owner of Fuerte Fitness, in Seattle, WA, received counseling from a SCORE mentor and a Women's Business Center adviser.
Thinking of starting a business? Here are the nuts & bolts. How to Start a Business in Wyoming
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. Carefully investigate the laws affecting your industry. Being out of compliance could leave you unprotected legally, lead to expensive penalties, and jeopardize your business.
Market Research Need to do research on your clients and location? 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. Receive market research guidance from an experienced business adviser by visiting the Market Research Center at wyomingsbdc.com .
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. » Wyoming SBDC Network Cindy Unger 234-6685 firstname.lastname@example.org
LOCAL BUSINESS ASSISTANCE
An O’Fallon Casting Inc. employee at work in O’Fallon, MO. General Manager Vince Gimeno grew his business thanks to the Small Business Innovation Research Program.
» State Tax Department Wyoming Department of Revenue 777-5200 email@example.com revenue.wyo.gov 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. 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 call (800) 870-3676. For the employer hotline call (888) 464-4218 or email Ifirstname.lastname@example.org. E-Verify, operated by the Department of Homeland Security in partnership with the Social Security Administration, electronically verifies the Social Security number and employment eligibility information reported on Form I-9. It’s the quickest way for employers to determine the employment eligibility of new hires. Visit e-verify.gov , call (888) 464-4218 or email email@example.com. 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. Call (800) 321-6742 or visit osha.gov .
Name Registration Register your business namewith the county clerkwhere your business is located. If you’re a corporation, also register with the state. » Secretary of State Business Division 777-7311 http://soswy.state.wy.us Taxes As a business owner, you should know your federal tax responsibilities and make some business decisions to comply with certain tax requirements. The IRS Small Business and Self-Employed Tax Center, go.usa.gov/xPxYR , offers information on a variety of topics including: obtaining an Employer Identification Number, paying and filing income tax, virtual workshops, forms, and publications. As the IRS continues to implement some of the Tax Cuts and Jobs Act provisions, your tax obligationsmay change. Visit the Tax ReformProvisions that Affect Businesses page on irs.gov for the latest tax reform updates that affect your bottom line. » IRS Tax Assistance Center Casper/Cheyenne (844) 545-5640
LOCAL BUSINESS ASSISTANCE
» State Safety & Health Regulations Wyoming Workers’ Safety Deputy Administrator Dan Bulkley, OSHA (307) 777-3581 » Wyoming Department of Workforce Services Director John Cox 777-8728 wyomingworkforce.org Employee Insurance Checkwithyour state laws tosee if you are required toprovideunemployment or workers’ compensation insurance for your employees. For health insuranceoptions, call theSmall BusinessHealthOptionsProgram at (800) 706-7893or visit healthcare.gov/ small-businesses/employers . Department of Labor 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/ State assistance is available for small businesses thatmust complywith 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 complex environmental regulations and permitting requirements. These state programs can help businesses reduce emissions at the source, often reducing regulatory burden and saving youmoney. To learnmore about these free services visit nationalsbeap.org/states/list . 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 association-health-plans . Environmental Regulations (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 programand are responsible
for collecting 75%of support nationwide through payroll deductions. TheOffice of Child Support Enforcement at Health andHuman Services offers employers step-by-step instructions for processing incomewithholding orders for child support. Download the fact sheet about the Employer’s Role in the Child Support Programat theOffice of Child Support Enforcement’swebsite at acf.hhs.gov/ programs/css > employer responsibilities. You can also find information about other employer responsibilities and tools that can makemeeting those responsibilities easier, such as electronic incomewithholding orders and the Child Support Portal. Send questions to email@example.com. » Wyoming Department of Family Services 777-5300 or (888) 570-9914 http://childsupport.wyoming.gov Intellectual Property Patents, trademarks, and copyrights are types of intellectual property that serve to protect creations and innovations. The United States Patent and Trademark Office is the federal agency that grants U.S. patents and registers trademarks. For information and resources about U.S. patents and federally registered trademarks consult uspto.gov . Call the patent and trademark office help center at (800) 786-9199 or visit your nearest office in Rocky Mountain Regional Office in Denver, Colorado, uspto.gov/denver . A patent for an invention is the grant of a property right to an inventor, issued by the U.S. patent office. The right conferred by the patent grant is the right to exclude others frommaking, using, offering for sale, or selling the invention in the United States or importing the invention into the country. For information 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 an article of manufacture. • 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 or intended to be used to identify and distinguish the goods/services of one seller or provider from those of others and to indicate the source of the goods/services. 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. Federally registered trademarks may conflict with and supersede those registered only at the state level. Visit uspto.gov/trademarks . » State Registration of a Trademark Wyoming State Library Patent and Trademark Office State Publications Librarian Karen Kitchens 777-7281 firstname.lastname@example.org » Wyoming Research Products Center 766-2509 Copyrights protect original works of authorship including literary, dramatic, musical and artistic, and certain other intellectual works. Copyrights do not protect facts, ideas, and systems, although theymay protect the way they are expressed. For general information 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
LOCAL BUSINESS ASSISTANCE
Hulett 146 Main St. 467-5430 Jackson Hole 260 W. Broadway 733-3316 Kaycee 100 Park Ave. 738-2444 Kemmerer 800 Pine Ave. 877-9761 Lander 100 N. First St.
Saratoga/Platte Valley 210 W. Elm St. 326-8855 Sheridan County 24 S. Main St. 672-2485 Star Valley 360 Washington St., Afton 885-2759 Sublette County 19 E. Pine St., Pinedale 367-2242 Sundance 283-1000 Thermopolis-Hot Springs 220 Park St. 864-3192 Upton 2501 WY-116 468-2228 Worland/Ten Sleep 405 N. 10th St. 347-3226 Economic Development Energy Capital 345 Sinclair St., Gillette 686-2603 Carbon County 215 W. Buffalo St., suite 304, Rawlins 324-3836 Advance Casper 300 S. Wolcott St. #300 577-7011 Cheyenne Leads 121 W. 15th St., suite 304 638-6000 Evanston 225 Ninth St. 783-0301 Forward Cody 1130 Sheridan Ave., suite 200 587-3136 Forward Sheridan 224 S. Main, room 107
Goshen County 110 W. 22nd Ave., Torrington
Chambers of Commerce Basin area 407 C St., Basin
532-5162 IDEA Inc. 213 W. Main St., suite C,
Riverton 856-0952 Lander 485 N. Fourth St.
568-3055 Big Piney 401 Budd Ave. 276-3554 Buffalo 55 N. Main St. 684-5544
349-5734 Laramie 2523 E. Garfield St., suite B 742-2212 Leader Corp. 185 S. Fifth St. 332-5181 Lovell Inc. 142 E. Third St. 548-6707 North East Wyoming 2201 S. Douglas Highway, suite 140, Gillette 686-3673 Platte County 851 Gilchrist St., Wheatland 322-4232 South Lincoln County 20 US Highway 30 & 189, Diamondville 877-9781 Sweetwater 1897 Dewar Drive, Rock Springs 871-8899 Thermopolis 420 Broadway St. 864-2348 Washakie 608 S. 12th S t., Worland 347-8900 Exporting Assistance Regional Export Finance Manager Bryson Patterson Serving Wyoming, Colorado, New Mexico, and Utah SBA Office of International Trade 999 18th St. Denver, CO (303) 844-6622 email@example.com
Campbell County 314 S. Gillette Ave. 682-3673 Casper area 500 N. Center St. 234-5311 Greater Cheyenne 121 W. 15th St., suite 204 638-3388 Cody County 836 Sheridan Ave. 587-2777 Cokeville 10558 N. Highway 30 279-3105 Dubois 708 Meckem St. 455-2556 East Yellowstone Valley Wapiti 587-9595 Evanston 1020 Front St. 783-0370 Glenrock 506 W. Birch St. 436-5652 Goshen County 2042 Main St., Torrington 532-3879 Greater Bridger Valley 100 W. Sage, Lyman 787-6738 Green River 1155 W. Flaming Gorge Way
332-3892 Laramie 800 S. Third St. 745-7339 Lovell area 287 E. Main St. 548-7552 Moorcroft 756-3386 Newcastle 1323 Washington Blvd. 746-2739 Niobrara 302 S. Main St., Lusk 334-2950 Platte County 65 16th St., Wheatland 322-2322
Pine Bluffs 206 Main St. 245-3695 Pine Haven 24 Waters Drive 756-9807
Powell Valley 111 S. Day St. 754-3494 Rawlins-Carbon County 519 W. Cedar St. 324-4111 Riverton 213 W. Main St. #3462 856-4801 Rock Springs 1897 Dewar Drive 362-3771
875-5711 Greybull 521 Greybull Ave. 765-2100
673-8004 Glenrock 206 S. Fourth St. 259-3936
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 .
LOCAL BUSINESS ASSISTANCE
Need financing? Have an employee who was called to active duty? You may 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 district office or SBA Lender about the Military Reservist Economic Injury Disaster Loan. Interested in contracting? Veteran-owned and service-disabled veteran-owned small businesses interested in federal contracting receive training from the Veteran Institute for Procurement, which offers a platform with three training programs to assist veterans. Visit nationalvip.org . VIP Start Enter the federal market and become ready for procurement. Nearly 200 veteran-owned businesses from 29 states plus Washington, DC have graduated from the program. VIP Grow Strategize to expand and operate within the federal marketplace. More than 700 veteran-owned businesses from 42 states plus DC and Guam have graduated from this program. 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. For more 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 .
HOW THE SBA HELPED US SUCCEED Margot Adam Langstaff, left, and Elisa Hamill, right, sought assistance from their local Veterans Business Outreach Center, which helped them better compete for government contracts. LifeHealth of Littleton, CO has expanded to more than 30 states with offices in Washington, DC and San Antonio, TX. Their clients include the Department of Defense, the National Guard, and the Indian Health Service. They also expanded their business using an SBA-backed line of credit for $350,000. Margot started her career as an Army medic, eventually running one of the largest outpatient clinics in the Northeast at Ft. Devens, MA.
Opportunities for Veterans
Members of the military community can start and grow their small businesses with the help of SBA programs.
Need entrepreneurship training? In Boots to Business, you explore business ownership and other self- employment opportunities while learning key business concepts. You will 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. Are you a veteran or member of the National Guard or Reserve or a military spouse? Boots to Business: Reboot teaches this entrepreneurship curriculum off base and in local 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 of service members 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
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 success story
Ryan Gregory OWNER, WYOMING ROOFING Sher idan, WY
• What challenge did you have? I’m a hard worker and I learn fast, but I was always work- ing for someone else. I didn’t have to write a business plan or give financial projections. When the opportunity came to buy the business, I took it because I knew this was the best next step for me and my wife, Bonnie. I didn’t know what I was doing at first, but I knew we could do it together. I also recognized the need to attract the best employees who could advance in the com- pany like I did. I wanted to create a culture where my teammembers realized the benefit to themselves and felt respected. • What was the SBA solution? I developed my initial business plan, which included finan- cial projections and human resources with my Wyoming Small Business Development Center adviser. SBA Resource Partners across the state offer mentoring, counseling, and training for free or low cost to help entrepreneurs thrive. This business plan helped me become a better business owner. Later I improved upon it, developing a brand and a marketing strategy. I learned you can start small and build, and because you do it over time, it’s not as overwhelming. Get the guidance you need in the beginning to build that foundation for success. My business adviser also directed me to the Wyoming Workforce Development Training Fund to attract and retain the best workforce. I use the fund to send my employees to trade shows and seminars to better their skills. • What benefit did this have for you? Wyoming Roofing has grown to over 30 employees at two locations. We offer full employee benefits and opportunities for advancement. We’re dispelling the belief that trade workers are somehow less valuable than those who attend a traditional four-year college. Wyoming Roofing and other trade businesses have career and promotion potential. You can secure a competitive salary and an engaging long-term career in our industry. Some of my folks started off roofing, as I did, and now they hold lucrative management positions. I can’t say enough about the SBDC and what it has meant to our business. Our long-term vision is to work with our SBA Wyoming District Office and SBDC to learn how to expand our brand across Wyoming and beyond.
Ryan Gregory got his start working for
others on ranches or in construction. When it came time for him to grow his own small business, he turned to the SBA. When the former owner of Wyoming Roofing and Supply retired in 2012, Ryan jumped at the opportunity to buy the business. To help with the transition from employee to owner, Ryan sought business guidance from his local Small Business Development Center, an SBA Resource Partner. His company has since expanded to two locations in Sheridan and Gillette.
22Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52
Made with FlippingBook - professional solution for displaying marketing and sales documents online