Help available for small businesses
“Small business: Vt.’s economic engine” in last Sunday’s paper confirmed what we in the small business support services knew all along: Small businesses create jobs and are the driver for economic growth here in Vermont and nationwide as well. The entrepreneurs who create and run these enterprises should be applauded for taking risks and working against pretty tough odds. Businesses that make it past the hurdles of the first years have a much better chance of long-term success. But even so, only about 50 percent of start-ups succeed, and the most common reason for failure is lack of experience, with the second reason being insufficient capital.
There are several resources available for entrepreneurs: Google the Internet and you will find nearly unlimited material offering business advice, or contact business counselors who can steer the small business owner in the right direction. SCORE, “counselors to America’s small businesses,” a nationwide volunteer organization, is staffed by people with extensive business management experience. It is free and confidential.
Running a small business is difficult, but having somebody available for discussing ideas about financing, marketing and so on is priceless. A SCORE mentor will be able to assist with crafting a business plan, preparing financial forecasts and designing internal controls, and acts as a sounding board when opportunities or problem arise. Empirical evidence supports the premises that having a SCORE mentor on your side enhances your success rate. Contact www.score.org, a source for proven business advice.
Vermont SCORE district director
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