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Welcome to SCORE!
Greetings!
SCORE, Service Corp Of Retired
(and Working) Executives, Counselors to America's Small Business offers
free counseling to St. Louis area small businesses.
For more
information contact us at 314-539-6600 Ext. 242 or www.stlscore.org to learn more about what SCORE offers.SCORE will host SBA Express Loan Workshops
June 10 & 11, 2009
Space Available, but Please Register Now!
See Our Website
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St. Louis SCORE
200 North Broadway
Suite 1500
St. Louis,
MO
63102
314-539-6600 x242
http://www.stlscore.org
St. Charles Office
636-447-5000
St. Charles Economic Development Center
5988 Mid Rivers Mall Drive
St. Charles, MO 63304
Kirkwood Office
314-800-1527
Inside National City Bank
333 S. Kirkwood Rd
Kirkwood, MO 63122
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Plan
Now to Survive the Seasonal Sales Cycle
Seasonal businesses devote a large part
of the year preparing for those special weeks or months when most of their
revenue is generated. For many retailers
the holidays are boom time. Fitness centers soar in January and sag with the
summer exodus. Some businesses sell more when the weather warms, the tax or
wedding season arrives or tourists travel.
Those boom times come at a
price-financial survival throughout the remainder of the year when business
slows to a trickle.
To help smooth the bumps it will be
important to create a tight budget and stick to it throughout the year. Create
a special cash reserve account for use only in leaner months. Set money aside
whenever you can. Creating a cash flow forecast will help you identify patterns
and see what you are up against. Include a worst-case plan to anticipate any
nasty shocks.
Operating a seasonal business also
requires that you plan and use your time more efficiently than other business
owners. Some periods may call for only 25-hour workweeks, while others go far
beyond that. To make sure everything gets done and also avoid burnout, you'll
need to schedule your time carefully.
Put slower times to good use by using
them to update your Web site, catch up on maintenance, strengthen customer
relationships or write marketing plans. You may want to employ only a small
core of permanent workers and use temps or interns to fill in. Consider
offering off-season sales or rates, and look for ways to generate revenue
during quieter periods.
Owners of seasonal businesses can also take advantage of
CAPlines, SBA-guaranteed short-term loans designed to help small
businesses meet short-term and cyclical needs for working capital.
The loans, which may be , your business must have established a definite
pattern of seasonal activity. Eligibility is based on the size and type of
business, how the loan will be used, and the availability of funds from other
sources. To learn more about CAPlines,
click Financial Assistance under the Services section of www.sba.gov, then go
to Special Purpose Loans.
To
learn more about operating seasonally, contact a SCORE Counselor. A SCORE Counselor can help you solve problems
and plan for the future. Contact SCORE at 314-539-6600 Ext. 242, M-F 10 am to
3 pm or go to www.stlscore.org.
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Businesses
Who Take ARRA's Energy-Saving Steps This Year May Get Bigger Tax Savings Next
Year
The recently enacted American Recovery and
Reinvestment Act (ARRA) of 2009 contained a number of either new or expanded
tax benefits on expenditures to reduce energy use or create new energy sources.
The Internal Revenue Service is reminding
businesses that many energy-saving steps taken this year may result in bigger
tax savings next year. IRS encourages businesses to explore
whether they are eligible for any of the new energy tax provisions.
An IRS Fact Sheet on Energy Provisions of the American
Recovery and Reinvestment Act of 2009 at http://www.irs.gov/newsroom/article/0,,id=206871,00.html
provides a listing of ARRA energy provisions.More information on the wide range of energy items is also
available on the special Recovery section of IRS.gov at http://www.irs.gov/newsroom/article/0,,id=206875,00.html.
Subscribe
to e-News for Small Businesses to get the latest information about ARRA and other IRS news and information.
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EDC named
"504 Lender of the Year" by SBA
ST. CHARLES COUNTY, MO --- The Economic Development Center of St.
Charles County (EDC) has been named the 504 Lender of the Year by the
U.S. Small Business Administration (SBA) as part of National Small
Business Week 2009.
"You can be proud of the role you are playing in our nation's
economic recovery," wrote SBA Administrator Karen Mills in a
letter announcing the EDC's award. "Your hard work, innovative
ideas, and dedication to your community have made you a success in
your business. SBA is pleased to recognize you for these
achievements."
"It is great to know that the EDC's financing programs are
having a major impact in people's lives," said President and CEO
Greg Prestemon. "It's especially gratifying to see our
organization being recognized nationwide for our efforts to help
business and impact the economy."
Two SBA lenders are recognized annually and the EDC is sharing the
2009 honor with another certified development corporation in Seattle,
Wa.
For more information about the EDC 504 Loan Program, contact Mark
Diliberto at 636-441-6880 ext. 235 or visit www.edcscc.com.
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SBA
Honors National Small Business Champions
PRESS OFFICE - Release Date: May 18, 2009
Internet Address: http://www.sba.gov/news
WASHINGTON, D.C. - Fifteen small business owners and
leaders of small business support organizations were hailed today by the U.S.
Small Business Administration for their outstanding support of entrepreneurs. The 15 Champion Awards were presented today in
Washington,
D.C., as part of the
annual observance of National Small Business Week.
2009 National
Minority Champion
Eddie G. Davis, Principal
DaLite & Associates, LLC
St.
Louis, Missouri
The Champion Awards were presented at the Champion Award
Winners Luncheon, sponsored by Sam's Club.
"The SBA is proud to honor these men and women as true
champions of small business, whose tireless efforts have provided tangible and
significant support to small businesses and to their communities," said SBA
Administrator Karen G. Mills. "They
provide the counseling, advice and support that small business owners need, and
foster an environment in which the spirit of entrepreneurship can flourish."
This year's Champion Awards recognize winners from Arizona, Maryland, Michigan, Missouri, Pennsylvania, Utah and Wisconsin. For more
information on all the winners please go to
http://www.nationalsmallbusinessweek.com/
and click on Winners.
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Resources For You
St. Charles EDC - EDC is offering $5,000 small business grant for new
incubator tenants.
This grant will provide one year of free rent, training and
counseling services for one new company to move into the EDC
small business incub ator facility in St. Peters, Mo.
"This is the perfect time for new companies that are just
getting started and home-based businesses to take the next step in
their growth process, and the EDC is trying to make it as simple and
risk-free as possible," said Craig
Frahm, CFO and incubator manager.
Information on how to apply for the $5,000 grant is available at
www.edcscc.com/incubator or
can be picked up at the EDC.
The deadline to apply and complete all the necessary steps is July 1,
2009.
For more information or to arrange a tour of the EDC small business
incubator, call Craig Frahm at 636-441-6880 ext. 228 or email cfrahm@edcscc.com
A Chance to Be a Part of America's Most Promising Companies List on Forbes.com
Forbes has teamed up with The Venture Alliance, which advises
early-stage companies, to offer a comprehensive FREE self-assessment survey to
determine how fundable a business really is, and what are the steps required to
make it even more attractive to potential investors.
The companies that they are looking for are:-
Less then 5 years old (Incorporation date)
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Have sales less then $10M per year
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Have less than 50 employees
- Have assets less than $1,000,000
The link where the companies can fill the survey is here
Missouri takes loan
applications for small businesses
Kansas
City Business Journal
Missouri now will take applications
for the Missouri Small Business Loan Program.
Gov. Jay Nixon said Monday that the Missouri Development Finance Board approved
the program designed to make low-interest loans to small businesses. The loan
program will start with $2 million in capital available for applicants.
The
Missouri Small Business Loan Program is for businesses with five or fewer
employees.
Loan
amounts range from $2,500 to $25,000 and get repaid during a 10-year term with
an interest rate of 3 percent.
Applicants
are expected to submit business plans to qualify for the loan.
Applications are available
on the Missouri Department of Economic Development's
Web site.
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SCORE Chapter 21 Monthly Seminars
Improve Your Business!
REGISTER NOW
"How to Start and Manage Your Own Business"
Saturday, June 13, 2009
8:15 A.M. to 3 P.M
Fee - $50.00
St. Louis Community College - Rm SO-105
Meramec Campus
Register Now!
Upcoming SCORE Seminars
"How to Start and Manage Your Own Business"
July 11, 2009 - St. Louis C.C. @ Meramec
Rm SO-105
SCORE Workshops
"Understanding Finance - How to Manage Your Business Profitably"
Saturday, June 20, 2009
Time: 9 am to 12:00 noon
Fee: $40.00
Learn:
- The Importance of Accurate Recordkeeping
- How to Read Financial Statements
- How to Finance Your Business
- How to Use Financial Information to Manage Your Business
- How to Use Accounting Software
This workshop will cover all of these topics and more.....
The speaker is Robin Bell, CPA,
Brown Smith Wallace.This Workshop will be held at the offices of Brown Smith Wallace
1050 North Lindbergh Boulevard
St. Louis, MO 63132
Directions: www.bswllc.com/st--louis-location
"How to Survive and Thrive in a Bad Economy"
Saturday, June 27, 2009 Time: 9 am to 12:00 noon
Fee: $40.00
St. Charles EDC
5988 Mid Rivers Mall Drive
St. Charles, MO 63304
636.447.5000
To learn more about any of these courses and dates, times and how to register -
CLICK HERE
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Vote
For SCORE - St. Louis - Here's your chance to vote for the Best Businesses In St. Louis. Small
Business Monthly's annual "Best In Business" contest. Vote for the Best Businesses in 13 categories.
Click here to vote.
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SBA to offer floor plan financing for auto, RV & other dealerships
Beginning July 1, 2009 the U.S. SBA will make
guarantees available to support floor plan financing for auto, RV and other
dealerships, which will make it easier for these small businesses to borrow
against their inventory and increase cash flow at this critical time.
Until now the SBA had not been able to guaranty such loans.
SBA's Dealer Floor Plan (DFP) financing program complements the steps
already taken through the Recovery Act and is one of many SBA tools available
to help increase access to capital and offer technical assistance to small
businesses.
With a maximum repayment term of five years, the loans will come with a
government guarantee of up to 75 percent. DFP loans will be available for a
minimum of $500,000 up to the $2 million allowable under the 7(a) program.
Borrowers will also benefit from the temporary elimination of fees on 7(a)
loans made possible by the America's Recovery and Reinvestment Act of 2009.
DFP loans are available for qualifying businesses in the retail sector,
including auto, RV, manufactured housing, boat and trailer dealerships.
For more information in pdf format click here.
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Brought to you by SCORE "Counselors to America's Small Business," a nonprofit association and resourc e partner with the U.S. Small Business Administration. SCORE is dedicated to entrepreneurship and the formation, growth and success of small businesses nationwide. Since 1964, SCORE has helped more than 8 million entrepreneurs.
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© Copyright 2009. SCORE Association. All rights reserved.
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