RE: business plan + funding
- Be sure to connect with the local Small Business Administration, the local Small Business Development Centers, which provide technical assistance to small businesses and aspiring entrepreneurs supporting business performance and sustainability and enhancing the creation of new businesses entities, or the local Senior Corps of Retired Executives (SCORE), a nonprofit association dedicated to helping small businesses get off the ground.
They have been around for nearly fifty years, and their work is supported by the SBA, and a group of volunteers, so they are able to provide services at no charge or at a very low cost. Most of the SBDCs are located within a university system, which is another wonderful option available to them.
Finally, if they are able to connect with a local graduate school of business, there are many students who need projects - including writing a business plan with projections - for their marketing or finance classes. Contact the Dean of the school and ask if you are able to connect with them. Have them put together financial projections - they will get credit, and you will get your projections.
[Editor's note: here are the previous comments on this question:
Director, Strategic Initiatives
Community Renewal Team Inc.
Changing lives...Creating opportunity!
555 Windsor Street Hartford, CT 06120-2418
Tel (860) 560-5635 Fax (860) 560-5314
From: npEnterprise@yahoogroups.com [mailto:npEnterprise@yahoogroups.com] On Behalf Of stacy.w.mccoy@...
Sent: Friday, February 17, 2012 1:00 PM
Subject: [npEnterprise] business plan + funding
I am the co-founder of Give To Get Jobs. Give To Get Jobs is a job board and information hub for jobs that use a sustainable business problem to solve a social and/or environmental issue, mainly social enterprise and CSR. As a social enterprise ourselves, we donate a portion of the proceeds from each posting to fund job creation programs.
We launched in May and have been 100% self funded since then. But we are really interested in exploring funding options. We are thinking of starting off with a small business loan. Is this the best approach?
Also, we are working on completing our business plan in a way that is appealing to banks and investors. But neither of us have any background in making financial projections, etc. What's the best way to get help with this? I was thinking maybe we could work with an entrepreneurship club at a local university. Has anyone done this before? What are some other options?
Any insight or advice would be very much appreciated.
[Editor's note: we've had several recent discussions on this business planning question, for example: http://finance.groups.yahoo.com/group/npEnterprise/message/3676 and http://finance.groups.yahoo.com/group/npEnterprise/message/3651 . However, we haven't addressed her question about funding options for awhile. Does anyone have any suggestions for her?]
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