Small Business - in delaware GROW YOUR BUSINESS - SBA

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Small Business - in delaware GROW YOUR BUSINESS - SBA
Small Business
              DELAWARE EDITION 2020

             resource guide

GROW YOUR BUSINESS
in delaware

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Small Business - in delaware GROW YOUR BUSINESS - SBA
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Small Business - in delaware GROW YOUR BUSINESS - SBA
CONTENTS
Delaware Edition 2020

                        Local Business                            Funding
                        Assistance                                Programs
                         8   National Success Story               28   National Success Story
                             Jerado and Joyce Reynolds                 Jennifer and Jeff Herbert’s
                             know their local landscape for            meadery has expanded into a
                             entrepreneurship support.                 multimillion dollar enterprise
                                                                       thanks to SBA assistance.
                        11 Local SBA Resource
                        		Partners                                31   SBA Lenders

                        13   Your Advocates                       33   Need Financing?

                        14   How to Start a Business              34   Go Global with
                                                                       International Trade
                        18   Find an EIN
                                                                  36   R&D Opportunities for
                        19   Opportunities for Veterans                High Growth Startups
                        20   Entrepreneurial                      38   National Success Story
                             Opportunities                             Cheeseburger Baby owner
                                                                       Stephanie Vitori persevered
                        22   Write Your Business Plan                  through a financial storm and a
                                                                       natural disaster.
                        24   10 Tips to Help You
                             Build and Grow a                     42   Surety Bonds
                             Stand-Out Brand

                        26   Local Success Story
                             When it came time for Don Chupp
                                                                  Contracting
                             to grow his own small business, he
                             turned to the SBA.
                                                                  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 Wilmington skyline,
                        courtesy of Tim Kider on Wikimedia
                        Commons; Rehoboth Beach, courtesy of
                        Bob Bowie on Unsplash; Don Chupp, photo
                        courtesy of Fireside Partners

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Small Business - in delaware GROW YOUR BUSINESS - SBA
Let us help
    give voice
    to your
    story.

      SCOPE OF SERVICES                               We have all heard the phrase “content is
                                                      king.” Creating rich, engaging, and inspiring
                                                      content differentiates your brand in the
       Brand Voice         Catalogs                   marketplace. But who has time to focus on
         Articles        Visitor Guides               anything other than running their business?
                                                        Narrative works with you to develop
          Blogs             Books
                                                      the tools to tell your story across all
     Website Content      Copywriting
                                                      media platforms. Powerful and authentic
    Social Media Posts   Photography                  storytelling helps you stand out. It inspires
      Email Content         Videos                    action. It creates an emotional impact and
        Brochures                                     forges enduring relationships. It separates
                                                      you from the competition.

                                          To schedule a meeting or to learn more, contact
                                          Buddy Butler at buddy@newsouthmediainc.com
                                          or call 304.615.9884.
           BY NEW SOUTH M E D I A

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Small Business - in delaware GROW YOUR BUSINESS - SBA
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Small Business - in delaware GROW YOUR BUSINESS - SBA
PUBLISHED BY

                            New South Media, Inc.
                           304.413.0104 | newsouthmedia.com

    PUBLISHER
    Nikki Bowman, nikki@newsouthmediainc.com

    ASSOCIATE EDITORS
    Pam Kasey, pam@newsouthmediainc.com
    Jess Walker, jess@newsouthmediainc.com

    DESIGNER
    Hayley Richard, hayley@newsouthmediainc.com

    OPER ATIONS MANAGER
    Holly Leleux-Thubron, holly@newsouthmediainc.com

    ADVERTISING SALES DIRECTOR
    Heather Mills, heather@newsouthmediainc.com

    ADVERTISING SALES

    Meggan Hoyman, Kelley McGinnis, Bryson Taylor
    sba@newsouthmediainc.com

    Copyright: New South Media, Inc. Reproduction in part or whole is strictly prohib-
    ited without the express written permission of the publisher.

    © 2019 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 summer 2019 national edition #mcs-0089.

    WRITER/EDITOR
    Becky Bosshart
    (202) 205-6677
    rebecca.bosshart@sba.gov
    DIRECTOR OF MARKETING
    Paula Panissidi Tavares
    paula.tavares@sba.gov

    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.

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Small Business - in delaware GROW YOUR BUSINESS - SBA
SBA Delaware
District Office
1105 N. Market St., lobby level
Wilmington, DE 19801
(302) 573-6294
Fax (302) 573-6060
sba.gov/de
@SBA_Delaware

District Director Letter                                                                           District Director

W
            elcome to the 2019-2020 edition of the U.S. Small Business Administration’s            John Fleming
            Delaware Small Business Resource Guide. Since being the first to ratify the U.S.       (302) 573-6182
            Constitution more than 200 years ago, Delawareans’ trailblazing spirit continues       john.fleming@sba.gov
into the entrepreneurial sphere. In the First State, public and private sector innovators create
                                                                                                   Deputy District Director
a first-rate entrepreneurial environment. Delaware is home to over 77,000 small businesses
                                                                                                   John Banks
employing nearly half of the state’s workforce.
                                                                                                   (302) 573-6553
    The SBA helps make the American dream of small business ownership a reality. We are the
                                                                                                   john.banks@sba.gov
only federal agency dedicated to helping our 30 million small businesses start, grow, expand,
or recover after a disaster. The SBA Delaware District Office works with an extensive network      Economic Development/
of business advisers and lenders to help small businesses at every stage of development.           Women-Owned Business
    Across Delaware in the last year, we empowered the state’s small businesses to:                Representative/
   • Find an ally, advocate or mentor via our Delaware SBA Resource Partners, which include        SBDC Project Officer
      SCORE, the Delaware Small Business Development Center, and the Women’s Business              Ellyn Herbert
      Center, all powered by the SBA.                                                              (302) 573-6183
   • Access over $73 million in SBA-guaranteed loans using 38 local banks, credit unions,          ellyn.herbert@sba.gov
      community-based lenders, and microlenders. The 212 businesses that qualified for SBA
      financing have hired thousands of new employees, bought needed equipment, and built          Public Affairs Specialist
      or renovated facilities.                                                                     Jennifer S. Pilcher
   • Secure over $115.8 million in federal contracting awards.                                     (302) 573-6181
Delaware’s small business environment aligns with the Mid-Atlantic region as a hub for             jennifer.pilcher@sba.gov
innovative entrepreneurism. Together with our resource partners, SBA Delaware is proud to
help local entrepreneurs navigate that economic                                                    Economic Development/
landscape. Stay up to date on SBA events                                                           Veteran Business
near you and get valuable Delaware business                                                        Development Officer
information by following us on Twitter                                                             Jim Provo
@SBA_Delaware. Register for email updates                                                          (302) 233-6847
at sba.gov/updates. Use our Small Business                                                         james.provo@sba.gov
Resource Guide to power your dream of starting,
                                                                                                   Lender Relations/
growing, or expanding your small business
                                                                                                   District International
in Delaware.
                                                                                                   Trade Officer
Sincerely,                                                                                         Michael A. Rossi
                                                                                                   (302) 573-6294 x7
                                                                                                   michael.rossi@sba.gov

John Fleming
District Director

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Small Business - in delaware GROW YOUR BUSINESS - SBA
LOCAL BUSINESS
                  ASSISTANCE

 How We Did It

Made
to Last
Joyce and Jerado Reynolds used SBA
support to succeed.
Written by Micaela Morrissette

                                     COURTESY OF SHANA SURECK PHOTOGRAPHY

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Small Business - in delaware GROW YOUR BUSINESS - SBA
LOCAL BUSINESS ASSISTANCE

R                                                                                                                           5
               eynolds Welding &

                                                                                                                                        Tips for
               Fabrication has grown
               steadily, building a loyal
               customer base, since
               Jerado Reynolds founded
the company in 2005.                                                                                                                    Success

                                                                                   COURTESY OF SHANA SURECK PHOTOGRAPHY
   “At first the company was just Jerado,”
recalls his wife and co-owner, Joyce
                                                                                                                            Find a great business mentor.
Reynolds. “Then it was him and me part                                                                                      To find your local SBA office and
time.” During the day she worked as a                                                                                       resource partners in your area, visit
nurse and spent her evenings doing all                                                                                      sba.gov/localresources.
the company’s paperwork. The Reynolds
sank everything they earned into the
business—money, time, and energy. She                                                                                       Have a healthy view
remembers with pride helping Jerado
                                                                                                                            of competition.
weld a stair railing at a local school. Her
                                                                                                                            We’re not always competing.
son later attended that same school,
                                                                                                                            We’re a competitor, but if a similar
and she watched her child and others                                                                                        business has extra work, they’ll send
                                              SBA Resource Partner, where “from day
using the rail, benefiting from the                                                                                         it to us and vice versa. That’s the
                                              one it was, Eureka! Everyone wanted
hard work the couple did together. It                                                                                       relationship to have.
                                              to see us win.” Women entrepreneurs
was then Joyce decided as much as she
                                              receive essential business counseling and
loved her day job, she wanted to devote
                                              training from this national network of
herself full time to the family business                                                                                    Record everything you do.
                                              community-based centers. Most helpful
in Windsor, Connecticut. She wanted                                                                                         Navigating business relationships
                                              was the detailed personal attention
to work side-by-side with her husband,                                                                                      in this age means keeping an email
                                              available through free one-on-one
fully focused on administration and                                                                                         record of everything you do. Leave a
                                              business counseling. Joyce also learned
business growth. As they both hoped,                                                                                        clear paper trail.
                                              about workshops offered by providers like
word of mouth spread; clients made
                                              the Metropolitan District, a Connecticut
referrals. Joyce was soon overwhelmed
                                              nonprofit municipal corporation offering
with paperwork. They brought on two
                                              water and sewer services. At a meet-                                          Sacrifice to ensure quality.
employees—doubling up in the busy                                                                                           We don’t cut corners. Sometimes you
                                              and-greet, Joyce understood how much
seasons. They were able to maintain four                                                                                    have to lose money to do quality work—
                                              the SBA could help her business. An
full-time employees by 2009. After this,                                                                                    it’s rough, but nothing is more important.
                                              SBA professional walked Joyce through
Joyce says, they saw that “things were
                                              the extensive paperwork and, crucially,
not moving.” She wanted to scale up.
                                              helped her register the company in
                                              the System for Award Management
                                                                                                                            Seek SBA assistance to
Challenge
The company wasn’t growing in part            (sam.gov), positioning the company for                                        see if you qualify for
because it wasn’t certified with the          new federal contracts.                                                        business certifications.
state department of transportation or            “Resources like the Entrepreneurial                                        We used to look for jobs. Now that
prequalified with the Connecticut State       Center and the SBA will train you from                                        we’re on the SBA Subcontracting
Department of Administrative Services,        bottom to top,” Joyce says. “They have                                        Network database, SubNet, and
Joyce says. She decided to tackle the         finance classes that open your eyes                                           sam.gov, we have a continuous flow
                                              regarding taxes. You'll learn how to                                          of contractors reaching out to us.
certification problem full time, leaving
her nursing career. This was the change       register your business. They’ll help
she'd been wanting to make, but since         with a contract or your website or                                          on two bridges—a lifelong dream. Joyce
her background was in health care,            accountability statements. Everything!”                                     continues to move forward, getting
Joyce didn’t feel fluent in the languages        Before the SBA, Reynolds Welding                                         Reynolds qualified for the SBA 8(a)
of construction or business. Joyce            attempted the DOT certification on five                                     Business Development Program, which
wanted to learn, and she had incentive:       separate occasions, always falling short                                    provides free business development
they needed the certifications to bid         because the process was so complicated.                                     education to small businesses so they
on bigger jobs. “Never be afraid to ask       Joyce secured the certification with SBA                                    can better compete in the public sector.
questions,” she says. Joyce needed to         guidance on the first attempt.                                              “When I came on full time, I set a goal
find people with answers.                                                                                                 for what I would like for the company,
                                              Benefit                                                                     and I’ve achieved 80% of that,” Joyce
Solution                                      Reynolds Welding now employs more                                           says. When she secures 8(a) certification
She and Jerado connected with the             than 15 workers, constructing stairs,                                       for Reynolds, she’ll have hit all her
University of Hartford Entrepreneurial        rails, structural beams, and columns                                        objectives. Then, she admits, she’ll
Center & Women’s Business Center, an          throughout the region. Jerado is working                                    probably come up with some new ones.

                                                                                                                                                                         9
Small Business - in delaware GROW YOUR BUSINESS - SBA
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+
                                                  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
        Small Business                            development, and international trade. Find an SBDC adviser at
                                                  sba.gov/sbdc.
        Development Centers

                                                  SCORE

        300+
                                                  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.
        SCORE chapters                            SCORE mentors are available for free as often as you need, in person,
                                                  via email or over video chat. Find a mentor at sba.gov/score.

                                                  WOMEN’S BUSINESS CENTERS

       100+
                                                  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.
        Women’s Business
        Centers

                                                  VETERANS BUSINESS OUTREACH CENTERS

        20 +
                                                  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,
        Veterans Business                         National Guard or Reserve members, veterans of any era, and
        Outreach Centers                          military spouses.

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LOCAL BUSINESS ASSISTANCE

Our Local SBA
Resource Partners
SBA’s Resource Partners are independent organizations funded through SBA cooperative
agreements or grants.

                                                              SCORE
                                                              Visit sba.gov/score to start working on
                                                              your business goals. Contact your local
                                                              office to schedule an appointment.

                                                              Chapter 42
                                                              1105 N. Market St., lobby level
                                                              Wilmington
                                                              President W. Eric Roberson
                                                              (302) 573-6552
                                                              william.roberson@scorevolunteer.org
                                                              delaware.score.org

                                                              Other locations:
                                                              Kent County
                                                              Herb Konowitz
                                                              (302) 661-2366
                                                              herbert.konowitz@scorevolunteer.org
                                                              Sussex
                                                              Len Kidwell
                                                              (302) 691-9152
                                                              aonebanker@gmail.com

                                                              Delaware
                                                              Small Business
                                                              Development
                                                              Centers
                                                              SBDC State Office
                                                              Director Mike Bowman
                                                              Associate Director Denita Henderson
                                                              1 Innovation Way, suite 300
                                                              Newark
                                                              (302) 831-1555
                                                              delawaresbdc.org

                                                              Delaware SBDC Sussex
 Arthur and Sandra Johnson, owners                            Center Director David G. Root
 of 21 Short Stop in Georgia, received                        103 W. Pine St.
 assistance from their local Small Business                   Georgetown
 Development Center and SCORE chapter.
                                                              (302) 831-1555

                                                                                                    11
LOCAL BUSINESS ASSISTANCE

   Veterans
   Business
   Outreach
   Center
   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.
   Community Business Partnership
   Charles McCaffrey
   6564 Loisdale Court, suite 600
   Springfield, VA
   (703) 856-1211
                                                         O'Connor Belting, a Delaware
   charles@cbponline.org                                 family-owned business,
                                                         expanded with the help of an
                                                         SBA-guaranteed 7(a) loan.

                                             Women’s
                                             Business
                                             Center
                                             Women’s Business Center at First State
                                             Community Loan Fund
                                             100 W. 10th St., suite 1005
                                             Wilmington
                                             (302) 652-6774
                                             Fax (302) 656-1272
                                             Program Director Sara Crawford-Jones
                                             sjones@firststateloan.org
                                             Program Assistant Dolores Lee
                                             dlee@firststateloan.org
                                             wbc.firststateloan.org

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LOCAL BUSINESS ASSISTANCE

Your                                                                                         To report how a proposed federal
                                                                                             regulation could unfairly affect you,

Advocates
                                                                                             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
The SBA’s offices of advocacy and ombudsman are                                              sba.gov/ombudsman/comments
independent voices for small business within the
federal government.

Advocacy
When you need a voice within the federal        »» when you need economic and small               »» seek remedies when rules are
government for your interests as a small          business statistics                               inconsistently applied
business owner, the SBA’s regional advocates    The SBA’s Office of Advocacy also                 »» recover payment for services done by
are here to assist. The advocates analyze the   independently represents small business and         government contractors
effects of proposed regulations and consider    advances its concerns before Congress, the
alternatives that minimize the economic         White House, federal agencies, federal courts,    Make your voice heard by participating in a
burden on small businesses, governmental        and state policy makers.                          Regional Regulatory Enforcement Fairness
jurisdictions, and nonprofits. Find your                                                          Roundtable or a public hearing hosted by the
regional advocate at sba.gov/advocacy.          Ombudsman                                         SBA’s national ombudsman. These events
                                                Entrepreneurs who have an issue with an           are posted periodically on the ombudsman
Your advocate helps with these small
                                                existing federal regulation or policy can         website, sba.gov/ombudsman.
business issues:
                                                receive assistance from the SBA’s national           To submit a comment or complaint through
»» if your business could be negatively         ombudsman.                                        the online form, visit sba.gov/ombudsman/
  affected by regulations proposed by the                                                         comments. Your concerns will be directed to
                                                The ombudsman’s office helps you:
  government                                                                                      the appropriate federal agency for review. The
»» if you have contracting issues with a        »» resolve regulatory disputes with federal       SBA will collaborate with you and the agency
                                                  agencies                                        to help resolve the issue.
  federal agency
                                                »» reduce unfair penalties and fines

                                                                                                                                           13
LOCAL BUSINESS ASSISTANCE

                                                                                                                                              COURTESY OF THE SBA
   Adriana Medina, owner of
   Fuerte Fitness, in Seattle, WA,
   received counseling from a
   SCORE mentor and a Women's
   Business Center adviser.

  How to Start a Business
  in Delaware
  Thinking of starting a business? Here are the nuts & bolts.

                                                                       choosing a site for your business. Contact the local business
 The Startup Logistics
                                                                       license office where you plan to locate your business. You may not
 Even if you’re running a home-based business, you will have to
                                                                       be permitted to conduct business out of your home or engage in
 comply with many local, state, and federal regulations. Do not
                                                                       industrial activity in a retail district.
 ignore regulatory details. You may avoid some red tape in the
                                                                       firststeps.delaware.gov
 beginning, but your lack of compliance could become an obstacle
 as your business grows. Taking the time to research regulations
                                                                       Name Registration
 is as important as knowing your market. Carefully investigate
                                                                       Register your business name with the county clerk where your
 the laws affecting your industry. Being out of compliance could
                                                                       business is located. If you’re a corporation, also register with the state.
 leave you unprotected legally, lead to expensive penalties, and
 jeopardize your business.                                             Taxes
                                                                       As a business owner, you should know your federal tax
 Market Research                                                       responsibilities and make some business decisions to comply
 Need to do research on your clients and location? View consumer
                                                                       with certain tax requirements. The IRS Small Business and Self-
 and business data for your area using the Census Business
                                                                       Employed Tax Center, go.usa.gov/xPxYR, offers information on a
 Builder: Small Business Edition, https://cbb.census.gov/sbe.
                                                                       variety of topics including: obtaining an Employer Identification
 Filter your search by business type and location to view data on
                                                                       Number, paying and filing income tax, virtual workshops, forms,
 your potential customers, including consumer spending, and a
                                                                       and publications.
 summary of existing businesses, available as a map and a report.
                                                                          As the IRS continues to implement some of the Tax Cuts and
                                                                       Jobs Act provisions, your tax obligations may change. Visit the
 Business License & Zoning
                                                                       Tax Reform Provisions that Affect Businesses page on irs.gov for
 Licenses are typically administered by a variety of state and local
                                                                       the latest tax reform updates that affect your bottom line.
 departments. It is important to consider zoning regulations when

 14
LOCAL BUSINESS ASSISTANCE

»» IRS Tax Assistance Centers                                          Health & Safety
  Statewide (800) 429-4933                                             All businesses with employees are required to comply with state
  Dover                                                                and federal regulations regarding the protection of employees,
  611 S. DuPont Highway                                                visit dol.gov for information. The Occupational Safety and Health
  (302) 678-2784                                                       Administration provides information on the specific health and
                                                                       safety standards used by the U.S. Department of Labor. Call (800)
  Georgetown
                                                                       321-6742 or visit osha.gov.
  21309 Berlin Road, unit 13
  (302) 855-0309                                                       »» Delaware Department of Labor
                                                                         Division of Industrial Affairs
  Wilmington
                                                                         delawareworks.com/industrialaffairs
  844 King St.
  (302) 830-2076                                                         Wilmington
                                                                         4425 N. Market St., third floor
»» State Taxes
                                                                         (302) 761-8200
  Delaware Division of Revenue
  (302) 577-8205                                                         Dover
  Estimated tax coupons estimated@delaware.gov                           Blue Hen Corporate Center
  Business tax electronic filing (302) 577-8205                          655 S. Bay Road
  Forms request line (302) 577-8201 or formsrequest@delaware.us          Labor law (302) 422-1134
  revenue.delaware.gov                                                   Workers' comp (302) 422-1392

  Dover                                                                Employee Insurance
  Thomas Collins Building                                              Check with your state laws to see if you are required to provide
  540 S. Dupont Highway, suite 2                                       unemployment or workers’ compensation insurance for your
  (302) 744-1085                                                       employees. For health insurance options, call the Small Business
  Georgetown                                                           Health Options Program at (800) 706-7893 or visit healthcare.gov/
  Georgetown Building                                                  small-businesses/employers.
  20653 Dupont Blvd., suite 2                                             Department of Labor Association Health Plans allow small
  (302) 856-5358                                                       businesses, including self-employed workers, to band together
                                                                       by geography or industry to obtain healthcare coverage as if
  Wilmington
                                                                       they were a single large employer. For information, visit dol.gov/
  Carvel State Office Building                                         general/topic/association-health-plans.
  820 N. French St.
                                                                       »» Unemployment insurance
  (302) 577-8200
                                                                         (302) 761-8351
Social Security                                                          ui.delawareworks.com
If you have any employees, including officers of a corporation         »» Workers' compensation
but not the sole proprietor or partners, you must make periodic          4425 N. Market St., Wilmington
payments, and/or file quarterly reports about payroll taxes and          (302) 761-8200
other mandatory deductions. You can contact the IRS or the               dia.delawareworks.com
Social Security Administration for information, assistance, and        »» Wage and hour
forms, at (800) 772-1213 or visit socialsecurity.gov/employer.           (302) 573-6112 or (866) 487-9243
You can file W-2s online or verify job seekers through the Social
Security Number Verification Service.                                  Environmental Regulations
                                                                       State assistance is available for small businesses that must
Employment Eligibility Verification                                    comply with environmental regulations under the Clean Air Act.
The Federal Immigration Reform and Control Act of 1986 requires
                                                                       State Small Business Environmental Assistance programs provide
employers to verify employment eligibility of new employees.
                                                                       free and confidential assistance to help small business owners
The law obligates an employer to process Employment Eligibility
                                                                       understand and comply with complex environmental regulations
Verification Form I-9. The U.S. Citizenship and Immigration
                                                                       and permitting requirements. These state programs can help
Service offers information and assistance through uscis.gov/i-9-
                                                                       businesses reduce emissions at the source, often reducing
central. For forms call (800) 870-3676. For the employer hotline
                                                                       regulatory burden and saving you money. To learn more about
call (888) 464-4218 or email I-9central@dhs.gov.
                                                                       these free services visit nationalsbeap.org/states/list.
   E-Verify, operated by the Department of Homeland Security
in partnership with the Social Security Administration,                Accessibility and ADA Compliance
electronically verifies the Social Security number and                 For assistance with the Americans with Disabilities Act, call the
employment eligibility information reported on Form I-9. It’s          ADA Center at (800) 949-4232 or the Department of Justice at
the quickest way for employers to determine the employment             (800) 514-0301. Direct questions about accessible design and the
eligibility of new hires. Visit e-verify.gov, call (888) 464-4218 or   ADA standards to the U.S. Access Board at (800) 872-2253, TTY
email e-verify@dhs.gov.                                                (800) 993-2822, ta@access-board.gov or visit access-board.gov.

                                                                                                                                     15
LOCAL BUSINESS ASSISTANCE

                                                                                                                                      COURTESY OF THE SBA
   Reeves Clippard used the business
   knowledge he acquired in the SBA
   Emerging Leaders program to grow A/R
   Solar in Seattle, WA.

                                                                       offering for sale, or selling the invention in the United States or
 Child Support
                                                                       importing the invention into the country. For information visit
 Employers are essential to the success of the child support
                                                                       uspto.gov/inventors.
 program and are responsible for collecting 75% of support
                                                                           There are three types of patents:
 nationwide through payroll deductions. The Office of Child
                                                                         • Utility patents may be granted to anyone who invents
 Support Enforcement at Health and Human Services offers
                                                                            or discovers any new and useful process, machine,
 employers step-by-step instructions for processing income
                                                                            manufacture, or composition of matter, or any new and useful
 withholding orders for child support. Download the fact sheet
                                                                            improvement.
 about the Employer’s Role in the Child Support Program at the
                                                                         • Design patents may be granted to anyone who invents a new,
 Office of Child Support Enforcement’s website at acf.hhs.gov/
                                                                            original, and ornamental design for an article of manufacture.
 programs/css > employer responsibilities. You can also find
                                                                         • Plant patents may be granted to anyone who invents or
 information about other employer responsibilities and tools that
                                                                            discovers and asexually reproduces any distinct and new
 can make meeting those responsibilities easier, such as electronic
                                                                            variety of plant, other than a tuber propagated plant or a
 income withholding orders and the Child Support Portal. Send
                                                                            plant found in an uncultivated state.
 questions to employerservices@acf.hhs.gov.
                                                                       A trademark or service mark includes any word, name, symbol,
 »» Division of Child Support Services                                 device, or any combination, used or intended to be used to identify
   New Castle                                                          and distinguish the goods/services of one seller or provider from
   84A Christiana Road                                                 those of others and to indicate the source of the goods/services.
   (302) 577-7171                                                      Trademarks and service marks may be registered at both the
   Dover                                                               state and federal level. The U.S. Patent and Trademark Office
   905 S. Governor's Ave., second floor                                only registers federal trademarks and service marks. Federally
   (302) 739-8299                                                      registered trademarks may conflict with and supersede those
                                                                       registered only at the state level. Visit uspto.gov/trademarks.
 Intellectual Property                                                     Copyrights protect original works of authorship including
 Patents, trademarks, and copyrights are types of intellectual         literary, dramatic, musical and artistic, and certain other
 property that serve to protect creations and innovations.             intellectual works. Copyrights do not protect facts, ideas, and
 The United States Patent and Trademark Office is the federal          systems, although they may protect the way they are expressed.
 agency that grants U.S. patents and registers trademarks. For         For general information contact:
 information and resources about U.S. patents and federally
                                                                       »» U.S. Copyright Office
 registered trademarks consult uspto.gov. Call the patent and
                                                                         U.S. Library of Congress
 trademark office help center at (800) 786-9199 or visit U.S. Patent
                                                                         James Madison Memorial Building
 and Trademark headquarters in Alexandria, Virginia.
                                                                         101 Independence Ave. SE
    A patent for an invention is the grant of a property right to an
                                                                         Washington, DC
 inventor, issued by the U.S. patent office. The right conferred by
                                                                         (202) 707-3000 or toll free (877) 476-0778
 the patent grant is the right to exclude others from making, using,
                                                                         copyright.gov

 16
LOCAL BUSINESS ASSISTANCE

                                            New Castle County                        Downtown Dover Partnership
Chambers of                                 920 Justison St., Wilmington
                                            (302) 737-4343
                                                                                     (302) 678-2940
                                                                                     info@downtowndover.com
Commerce                                    info@ncccc.com
                                            ncccc.com
                                                                                     Downtown Newark Partnership
                                                                                     (302) 366-7000
Bethany-Fenwick area
                                            Rehoboth Beach–Dewey Beach               mmcguriman@newark.de.us
36913 Coastal Highway, Fenwick Island
                                            501 Rehoboth Ave., Rehoboth Beach
(302) 539-2100                                                                       Eastern Minority Supplier Development
                                            (302) 227-6446
info@bethany-fenwick.org                                                             Council of PA-NJ-DE
                                            rehoboth@beach-fun.com
thequietresorts.com                                                                  (215) 569-1005
                                            beach-fun.com
                                                                                     info@emsdc.org
Central Delaware
                                            Western Sussex
435 N. DuPont Highway, Dover                                                         Export Delaware, Delaware
                                            26673 Sussex Highway
(302) 734-7513                                                                       Department of State
                                            (302) 629-9690
info@cdcc.net                                                                        (302) 577-8464
                                            admin@westernsussexcoc.com
cdcc.net                                                                             export@delaware.gov
                                            westernsussexcoc.com
Delaware Small Business Chamber                                                      Kent Partnership
11F Liberty Plaza, Possum Park Mall,
Newark                                      Economic                                 (302) 674-3028
                                                                                     kentpartnership.org

                                            Development
(302) 482-2120                                                                       Middletown Main Street
bob@dsbcchamber.com                                                                  (302) 378-2977
dsbchamber.com                                                                       director@middletownmainstreet.com
                                            American Association of Franchisees
Delaware State                              & Dealers                                National Veteran-Owned
1201 N. Orange St., suite 200, Wilmington   (800) 733-9858                           Business Association
(302) 576-6563                              aafd.org                                 (724) 362-8622
info@dscc.com                                                                        navoba.com
                                            City of Newark Planning Department
dscc.com
                                            (302) 366-7000                           New Castle County Economic
Georgetown                                  rnietubicz@newark.de.us                  Development Council
827 E. Market St.                                                                    (302) 395-5959
                                            Claymont Business Owners Association
(302) 856-1544                                                                       tfmorris@nccde.org
                                            (302) 798-1364
info@georgetowncoc.com
                                            info@claymontbusiness.org                Rehoboth Beach Main Street
georgetowncoc.com
                                            Claymont Renaissance Development Corp.   (302) 227-2772
Lewes                                                                                krys@downtownrb.com
                                            (302) 354-1931
120 Kings Highway
                                            info@claymontdevelopment.org             Sussex County Office of
(302) 645-8073
inquiry@leweschamber.com                    Delaware Center for                      Economic Development
leweschamber.com                            Enterprise Development                   (302) 855-7770
                                            (302) 857-6952                           william.pfaff@sussexcountyde.gov
Middletown area
                                            lillcraw@desu.edu                        Sussex Economic Development
1050 Industrial Drive, suite 110
(302) 378-7545                              Delaware Community Reinvestment          Action Committee
rferguson@maccde.com                        Action Council Inc.                      (302) 856-1818
maccde.com                                  (800) 421-8656                           scottt@visitsoutherndelaware.com
Milford                                     rashmi@dcrac.org                         Wilmington Downtown Visions
24 NW Front St., suite 101                  Delaware Division of Small Business      (302) 425-4200
(302) 655-7221                              (302) 577-8477                           mhageman@downtownvisions.org
milfordchamber.com                          business@state.de.us                     Wilmington Economic
Millsboro                                   Delaware Manufacturing                   Development Corp.
102 Washington St., suite G                 Extension Partnership                    (302) 571-9088
(302) 934-6777                              (302) 283-3131                           info@wedco.org
info@millsborochamber.com                   demep.org                                Wilmington Renaissance Corp.
millsborochamber.com                                                                 (302)425-5500
                                            Delaware Restaurant Association
Milton                                      (866) 372-2545                           info@bigideaswilmington.com
115 Federal St.                             carrie@delawarerestaurant.org            World Trade Center Delaware
(302) 684-1101                                                                       (302) 656-7905
                                            Delaware Technology Park
chamber@historicmilton.com                                                           wtcde.com
                                            (302) 452-1100
historicmilton.com
                                            jane.crouch@deltechpark.org

                                                                                                                         17
LOCAL BUSINESS ASSISTANCE

How Do I                                                                                            Not sure whether
                                                                                                    you need an EIN?

Find an EIN?
                                                                                                    Check out this guide from the IRS.
                                                                                                    Answering yes to any of the
                                                                                                    questions in the list means you
                                                                                                    need one for your business.

                                                                                                    Do you have employees?
                                                                                                    ❒ YES ❒ NO
                                                How to apply for an EIN
                                                The easiest way to apply for your EIN is            Do you operate your business as a
                                                online via the IRS EIN Assistant. As soon as        corporation or a partnership?
                                                your application is complete and validated,
                                                you’ll be issued an EIN. There is no charge         ❒ YES ❒ NO
                                                for this service (beware of internet scams
                                                that will try to sell you their EIN application     Do you file any of these
                                                services).                                          tax returns: employment,
                                                   You can also apply by mail or fax using          excise, or alcohol, tobacco
                                                Form SS-4, available at irs.gov/formss4.            and firearms?
                                                                                                    ❒ YES ❒ NO
                                                Changing your business
No doubt, there are probably quite a few        structure? Get a new EIN
regulatory and administrative items on your     As your business grows and matures, you             Do you withhold taxes on income,
new business checklist, like getting a permit   may choose to change its legal or ownership         other than wages, paid to a
and registering your business name.             structure. For example, a sole proprietor           non-resident alien?
   One of the key requirements for most         may decide to incorporate, or a partnership         ❒ YES ❒ NO
new businesses (or businesses that are          may be taken over by one of the owners to
restructuring) is obtaining an Employer         then operate as a sole proprietorship. In
Identification Number, or EIN, from the IRS.
                                                                                                    Do you have a Keogh plan?
                                                instances such as these, your business will
   Here’s what you need to know about           need a new EIN.                                     ❒ YES ❒ NO
EINs and how to go about getting one               There are other scenarios that require
for your business.                              a new EIN, such as bankruptcy, a change             Are you involved with any of the
                                                in a corporation’s name or location, or             following types of organizations?
What is an EIN?
                                                reorganization of a corporation. Check out          • Trusts, except certain grantor-owned
An EIN is a unique nine-digit number that
                                                "Do You Need a New EIN" on irs.gov.                   revocable trusts, IRAs, Exempt
identifies your business for tax purposes.
                                                                                                      Organization Business Income Tax
Think of it as the business equivalent          Using your EIN to make                                Returns
of a social security number (although it        tax deposits
shouldn’t be used in place of it).                                                                  • Estates
                                                If you have employees, you will have been
    As a business owner, you’ll need an EIN     automatically enrolled in the Electronic            • Real estate mortgage investment
to open a business bank account, apply for      Federal Tax Payment System (eftps.gov)                conduits
business licenses, and file your tax returns.   when you applied for your EIN. This allows          • Nonprofit organizations
It’s a good idea to apply for one as soon as    you to make tax deposits, including federal         • Farmers’ cooperatives
you start planning your business. This will     employment and corporate taxes, online or
ensure there are no delays in getting the                                                           • Plan administrators
                                                by phone.
appropriate licenses or financing that you
                                                                                                    ❒ YES ❒ NO
need to operate.                                Lost your EIN?
                                                If you lost or misplaced your EIN, you can
Who needs an EIN?                               retrieve it in the following ways:
An EIN is needed by any business that
retains employees. However, non employers       • Reference the original notice issued by           organizations. They should be able to
are also required to obtain one if they           the IRS when you received your EIN, or            retrieve your number.
operate as a corporation or partnership.          call the IRS Business & Specialty Tax Line
                                                  at (800) 829-4933.                              • Find an old tax return. Your EIN should be
   Answering yes to any of the questions in
                                                                                                    on it.
the list on the right means you need one for    • If you used it to open a bank account
your business.                                    or get a license, contact these                 written by Caron Beesley, contributor

18
LOCAL BUSINESS ASSISTANCE

                                                                                                 Need financing?
                                                                                                 Loan Fee Relief
                                                                                                 To encourage lending to members of the
                                                                                                 military community who want to start
                                                                                                 or grow their business, the SBA reduces
                                                                                                 upfront guarantee fees on select loans. That
                                                                                                 means the cost savings will be passed down
                                                                                                 to you, the eligible veteran or qualifying
  COURTESY OF LIFEHEALTH

                                                                                                 military member. Ask your local SBA district
                                                                                                 office or SBA Lender about the Veterans
                                                                                                 Advantage program.
                                                                                                 Have an employee who was called to
                                                                                                 active duty?
                                                                                                 You may receive funds that enable your
                                                                                                 business to meet ordinary and necessary
                           HOW THE SBA HELPED US SUCCEED                                         operating expenses when an essential
     Margot Adam Langstaff, left, and Elisa Hamill, right, sought assistance from their          employee is called up to active duty in the
     local Veterans Business Outreach Center, which helped them better compete for               military reserve. Ask your local SBA district
     government contracts. LifeHealth of Littleton, CO has expanded to more than 30              office or SBA Lender about the Military
     states with offices in Washington, DC and San Antonio, TX. Their clients include the        Reservist Economic Injury Disaster Loan.
     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        Interested in contracting?
     started her career as an Army medic, eventually running one of the largest outpatient       Veteran-owned and service-disabled
     clinics in the Northeast at Ft. Devens, MA.                                                 veteran-owned small businesses interested
                                                                                                 in federal contracting receive training from

                                    Opportunities
                                                                                                 the Veteran Institute for Procurement,
                                                                                                 which offers a platform with three
                                                                                                 training programs to assist veterans. Visit

                                    for Veterans                                                 nationalvip.org.
                                                                                                 VIP Start
Members of the military community can start and grow their small                                 Enter the federal market and become ready
                                                                                                 for procurement. Nearly 200 veteran-owned
businesses with the help of SBA programs.
                                                                                                 businesses from 29 states plus Washington,
Need entrepreneurship training?                   For women veterans                             DC have graduated from the program.
In Boots to Business, you explore                 Receive entrepreneurial training geared        VIP Grow
business ownership and other self-                toward women veterans, service members,        Strategize to expand and operate within
employment opportunities while learning           and spouses of service members through         the federal marketplace. More than 700
key business concepts. You will walk away         these SBA-funded programs:                     veteran-owned businesses from 42 states
with an overview of entrepreneurship                                                             plus DC and Guam have graduated from
                                                  »» Veteran Women Igniting the Spirit of
and applicable business ownership                                                                this program.
                                                    Entrepreneurship in Syracuse, New York
fundamentals, including how to access
                                                  »» LiftFund in San Antonio, Texas              VIP International
startup capital using SBA resources.
                                                                                                 Enter or expand your federal and commercial
Boots to Business is conducted on all
                                                  For service-disabled veterans                  contracting opportunities overseas.
military installations as part of the
                                                  Learn how to start and grow a small business
Department of Defense’s Transition                                                               Get certified
                                                  using these SBA-funded programs:
Assistance Program.                                                                              Learn about the service-disabled veteran-
                                                  »» Entrepreneurship Bootcamp for Veterans      owned small business certification program
Who’s eligible?                                     with Disabilities in Syracuse, New York      on page 65.
Service members transitioning out of
                                                  »» Veterans Entrepreneurship Program at        For more assistance
active duty and military spouses.
                                                    the Riata Center for Entrepreneurship,
Are you a veteran or member of                                                                   Veteran and military entrepreneurs
                                                    Spears School of Business, Oklahoma
the National Guard or Reserve or a                                                               receive business training, counseling, and
                                                    State University in Stillwater, Oklahoma
military spouse? Boots to Business:                                                              referrals to other SBA Resource Partners
Reboot teaches this entrepreneurship              »» Veteran Entrepreneurship Jumpstart at       at a Veterans Business Outreach Center,
curriculum off base and in local                    St. Joseph’s University in Philadelphia,     sba.gov/vboc. For veterans business
communities. Register for either B2B                Pennsylvania                                 information visit sba.gov/veterans.
program at https://sbavets.force.com.             »» Dog Tag Inc., affiliated with Georgetown
                                                    University in Washington, DC

                                                                                                                                          19
LOCAL BUSINESS ASSISTANCE

Entrepreneurial
Opportunities
Regional Innovation Clusters
Create jobs and grow the economy through an SBA Regional
Innovation Cluster.                                                    Online Resources
                                                                       Find free short courses and learning
Who should join
Small businesses driving innovation in one of these tech industries:   tools to start and grow your small
• advanced composites                                                  business at sba.gov/learning. The
                                                                       free SBA Online Learning Center is a
• agTech
                                                                       great resource for every entrepreneur,
• bioscience
                                                                       especially rural business owners looking
• food processing
                                                                       for easy access to vital business training.
• data sciences
• medical sciences                                                     Courses include:
• power and energy                                                     • writing your business plan
• unmanned aerial systems                                              • buying a business
• water tech                                                           • financing options
• wood products                                                        • digital and traditional marketing to win customers
                                                                       • disaster recovery
How it works
                                                                       • understanding your customer
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.
                                                                          Native American
                                                                          Workshops
How it benefits you
Network with other industry innovators and connect with
resources that will help your small business find funding. You’ll
                                                                          Tribal enterprises and business organizations
also receive guidance on how to better compete for government
contracts and other opportunities so you can grow and expand.             can receive training at an SBA Entrepreneurial
Receive free technical and legal assistance to develop your tech          Empowerment Workshop. These workshops
and get it to market for government and industry buyers.                  cover business concepts important for starting,
Get involved                                                              growing, or expanding a small business. RedWind
Find an SBA Regional Innovation Cluster near you by visiting              instructors identify and help participants avoid
sba.gov/localassistance. Select the regional innovation clusters          common pitfalls. Learn how to prepare a business
on the drop-down menu.
                                                                          plan, gain access to capital, and basic book
                                                                          keeping. Request a workshop in your area by
                                                                          visiting nativesmallbusiness.org.

20
SBA Regional Innovation Clusters

 Autonomous & Unmanned S     ystems
 Cluster – Emerging Tech Ventures               Integrative Business Services Inc.
                                                 (Industry focus: Optics)
 The Ozarks Cluster – Startup Junkie
 (Industry focus: Food processing, supply       Great Plains Technology &
 chain, & logistics)                            Manufacturing Cluster

 The Water Council Cluster                       Montana Bioscience Cluster – Montana
                                                 Technology E
                                                             nterprise Center
 Marine Industry Science & Technology Cluster
                                                 AgLaunch Initiative
 BioSTL: St. Louis Biosciences Cluster
                                                 Utah Advanced Material
 Oklahoma-South Kansas Unmanned Aeri-           Manufacturing Initiative
 al Systems Cluster
                                                 Defense Alliance - LSI Business
 The Appalachian Ohio Wood Products Cluster      Development Inc. (Industry focus:
                                                 Advanced Power and Energy)
 Conductor RIC in Healthcare, Education
 & Data/Decision S
                  ciences – Startup
 Junkie Consulting

                                                                                        21
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 from your 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 show what 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.
Business plans help you run your business.
A good business plan guides you through managing your business.         Organization and Management
You’ll use your business plan as a roadmap for how to structure, run,   Explain how your com-
and grow your new business.                                             pany will be structured
   Business plans can help you get funding or bring on new              and who will run it.
business partners. Investors want to see a return on their                  Describe the legal            Want to see an
                                                                        structure of your busi-
investment. Your business plan is the tool you’ll use to convince
people that working with you—or investing in your company—is            ness. State whether you
                                                                                                          example of a
a smart investment. Brain storm with a business counselor (visit        have or intend to incor-          business plan?
one of our SBA Resource Partners detailed on page 8) and write          porate your business as     View examples of business plans
a traditional business plan, which uses a standard structure            a C or an S corporation,
                                                                                                    at sba.gov/business-guide/plan/
and detailed sections. Once you've got it all down, you can then        form a general or limited
                                                                                                    write-your-business-
condense it to a lean startup business plan, which typically            partnership, or if you're a
                                                                                                    plan-template
contains key points on only one page.                                   sole proprietor or limited
                                                                        liability company.

22
LOCAL BUSINESS ASSISTANCE

   TRADITIONAL BUSINESS PLAN CHECKLIST
                                                                           LEAN STARTUP PLAN FORMAT
                                                                           Write a lean startup plan if requested from an investor, or if your
    ❒ Executive summary                                                    business is relatively simple or you plan to regularly change and
                                                                           refine as you go.
    ❒ Company description
                                                                              Lean startup plans use more visual organization tools and only a
    ❒ Market analysis                                                      handful of elements to describe your company’s value proposition,
    ❒ Organization and management                                          infrastructure, customers, and finances. They’re useful for visualiz-
                                                                           ing your company's fundamental facts. Your business counselor can
    ❒ Service or product line
                                                                           help you edit down into the Business Model Canvas, used here—the
    ❒ Marketing and sales                                                  most well known style, or another lean startup template.
    ❒ Funding request                                                      Key Partnerships
    ❒ Financial projections                                                Note the other businesses you’ll work with--suppliers, manufactur-
                                                                           ers, subcontractors, and similar strategic partners.
    ❒ Appendix
                                                                           Key Activities
                                                                           List the ways your business will gain a competitive advantage.
  Use an organizational chart to show the hierarchy. Explain how
                                                                           Will you sell direct to consumers or use technology to tap into the
each person’s experience will contribute to the success of your
                                                                           sharing economy?
venture. Consider including CVs of key members.
                                                                           Key Resources
Service or Product Line
                                                                           List resources you’ll leverage to create value for your customer.
Describe what you sell or what service you offer. Explain how it ben-
                                                                           Your most important assets include staff, capital, or intellectual
efits your customers and the product lifecycle. Share your plans for
                                                                           property. Leverage business resources that might be available
intellectual property, like copyright or patent filings. If you're doing
                                                                           to women, veterans, Native Americans, and HUBZone–certified
research and development for your service or product, explain it.
                                                                           businesses.
Marketing and Sales
                                                                           Value Proposition
Your marketing strategy should evolve and change to fit your needs
                                                                           Make a clear and compelling statement about the unique value
in each context.
                                                                           your company brings to the market.
   Describe how you'll attract and retain customers. Show how a
sale will actually happen. You'll refer to this section later when you     Customer Relationships
make financial projections, so be thorough.                                Describe how customers will interact with your business. Think
                                                                           through the customer experience from start to finish. Is it auto-
Funding Request
                                                                           mated or personal? In person or online?
If you're asking for funding, outline your funding requirements.
Specify whether you want debt or equity and the terms you'd like.          Customer Segments
Your goal is to clearly explain how much funding you’ll need over          Name your target market. Your business won’t be for everybody;
the next five years and how the investment will be used.                   it’s important to have a clear sense of who you serve.
    Specify if you need funds to buy equipment or materials, pay           Channels
salaries, or cover specific bills until revenue increases. Explain how     List the most important ways you’ll talk to your customers.
you'll pay off the debt.
                                                                           Cost Structure
Financial Projections                                                      Will your company focus on reducing cost or maximizing value?
Supplement your funding request with a prospective financial               Define your strategy, then list the most significant costs you’ll face.
outlook for the next five years. Show how your business will be a
                                                                           Revenue Streams
financial success.
                                                                           Explain how your company makes money: direct sales, member-
   If your business is already established, include income state-
                                                                           ships fees, selling advertising space? If your company has multiple
ments, balance sheets, and cash flow statements for the last three to
                                                                           revenue streams, list them all.
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               LEAN STARTUP PLAN CHECKLIST
match them to your funding requests.                                          ❒ Key partnerships                ❒ Customer segments
   Use visual organization tools--graphs and charts—to tell your
                                                                              ❒ Key activities                  ❒ Channels
business's financial story.
                                                                              ❒ Key resources                   ❒ Cost structure
Appendix
Here you'll attach supporting documents or other requested                    ❒ Value proposition               ❒ Revenue streams
materials. Common items to include are credit histories, CVs,                 ❒ Customer relationships
product pictures, letters of reference, licenses, permits, patents,
legal documents, and other contracts.

                                                                                                                                              23
LOCAL BUSINESS ASSISTANCE

10 Tips
to Help You Build and Grow a
Stand-Out Small Business Brand
Build a better business with these time-tested tips.

                                                                                                              Elliot Henry, an 8(a) program
                                                                                                              graduate, runs Unlimited Water
                                                                                                              Processing in St. Louis, MO.

The United States loves small businesses. That’s according to              niche, the target customer is very defined. Business operations
a survey by the Pew Foundation reported by Small Business                  are agile and unconstrained by corporate rules and processes.
Trends, smallbiztrends.com, which found that 71% of Americans              Small businesses are also trusted for their integrity, community
view small business more favorably than any other institutions,            engagement, and customer service. When was the last time you
including religious organizations.                                         called a small business and got put through to an automated call
   Why is this? Well, small businesses are seen as a positive influence.   center? These things come together to create a hugely competitive
But it’s more than that.                                                   value proposition, the linchpin of your brand.
   Small businesses are in a unique position to create valuable               But what can you do to leverage these experiences and grow
customer experiences. Their products and services are often                the appeal of your brand without breaking the bank?

24
LOCAL BUSINESS ASSISTANCE

1                                                                      6
          What is Your Brand?                                                    Have a Distinct Voice
          It’s important to understand that your brand is much                   A great way to ensure your distinct brand message
          more than your logo, merchandising or products. It is                  is delivered consistently across your business is to
          all the experiences customers have with your business,                 focus on how you and your employees interact and
including the visual elements of your business. It also includes       communicate with customers in person, on the phone, and
what you do, how you do it, customer interactions, and your            on social media. Not sure what your “voice” should be? Look
marketing. All of these elements help establish the trust and          to other brands. What do they do that you’d like to emulate?
credibility of your business.                                          How do they greet and interact with you? What is it they do that

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                                                                       makes you feel good about doing business with them?

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         Stand Out
         If your brand is going to be strong, you need to be able                Build Community Around What you Do
         to pinpoint what makes you different from competitors.                  A successful brand is one trusted and respected by
         A SCORE mentor, sba.gov/score, can help you use                         customers. Building a strong community online and
competitive differentiators to build your business brand.                        off can help you achieve this. You don’t have to spend
Don’t forget to weave your differentiators into your company’s         a lot of money to do this. In fact, many successful brands
messaging and marketing.                                               concentrate almost exclusively in online and offline community

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                                                                       building. Offline participation in community activities, such as
          Have Great Products and Services                             local events, fundraisers, and charities, as well as hosting your
          Word of mouth is often a small business’s greatest lead      own events, such as workshops or loyal customer events, can all
          generator, so having great products and services that        help you build community and extend the trust your brand has
          people talk about is a critical part of your brand. Even     earned.

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the most outgoing and charming small business owner is not
going to succeed in bringing customers back unless the product                  Be an Advocate for Your Business—
or service they provide delivers and exceeds expectations. Don’t                Not Just a Salesman
lose sight of your product, keep refining it, testing new offerings,            You don't have to be the greatest salesman to succeed
and making sure you always put product first.                                   in business. Selling takes many forms, and being a

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                                                                       brand advocate gels them. For example, many small business
          Make Sure Your Customers Know                                owners strive to be the number one salesman, the number one
          the Face Behind the Product                                  cheerleader, and the number one fan of their own business. If
          One of the biggest reasons that small businesses fail        you are passionate about your business, be an advocate for it.
          is because of the persistent absence of the business         Invite people in!

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owner. You only need to look at a few episodes of business
makeover TV shows to witness what can go wrong when a                            Be Reliable
business is left to run itself. Without an actively engaged owner,               Letting your customers down by failing to live up
employees lose motivation and structure, which can quickly lead                  to your own promises and brand standards can be
to sloppy service, a poor product, and customer churn. Yes, your                 particularly harmful for small businesses that depend
business needs to be able to function without your constant            heavily on referrals. The foundation of brand loyalty lies in great
presence, but it’s important to strike a balance. Find ways to         service; a happy customer is a loyal customer. Make sure you
make sure your customers know you and connect with the face            aren’t making promises that you can’t keep, whether you run a
behind the business. Businesses thrive when the energy of the          pizza business and pledge to deliver within 30 minutes, or you’re
owner is present.                                                      a painting contractor who promises to start a job on a Monday at

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                                                                       9 a.m. sharp. Stand by your promises.

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          Get Your Name and Logo Right
          It’s important to get this right the first time because                         Have a Value Proposition
          changing your name and logo later can be costly. Your                           Value, not to be mistaken with price, can help
          logo and name should be easily recognizable and                                 define your brand and differentiate you from
reflect the nature and tone of your business as well as appeal                            the competition. This goes back to my second
to your target market. I’m a dog owner, and two of my absolute         point about standing out. What niche do you serve? What do you
favorite small businesses cater to pet owners: my local provider       do well in that niche that makes you different from everyone
of dog walking services and a healthful pet food store. When           else? What are the emotional benefits of what you do? The
I see their logos, it makes me feel good; I feel an affinity with      answers to these questions will help define what your value is to
them. That’s what you need to shoot for.                               your customers. It could be your great customer service, product
                                                                       quality, innovation, or a combination of these.

                                                                       written by Caron Beesley, contributor

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