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News from the Western Kentucky University
Small Business Development Center
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Pre-Business Orientation
Starting a business requires a great deal of organization and many steps. Before you jump in head first, learn about the common mistakes made by many people considering small business ownership. These basics include an overview of business plan development, legal entity considerations, business tax and licensing issues and financing options.
May 15th, 6:00-8:00pm
The Learning Center, 247 Double Springs Rd.
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Chrisman Surveys
You may have received a survey in the mail recently. This survey is called the Chrisman Survey. This is to evaluate the SBDC programs. If you have received this survey, please complete and mail back to the KY Small Business District Office in Lexington. |
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Loan Supply and Demand Cautiously Improving Says Wells Fargo
According to a Wells Fargo/Gallup Small Business Index survey earlier this month, the number of small business owners who said they found it difficult to obtain credit dropped to 30% from 33% since January, the last time the survey was conducted. The number of business owners anticipating difficulty securing credit over the next year also fell, from 38% to 32%. The results were based on telephone interviews with 603 small business owners in all 50 states conducted from April 2nd through 6th.
"The survey results are consistent with the deleveraging trend we've seen over the last two years among the small business owners we serve," a Wells Fargo spokesman told the Wall Street Journal, "Many business owners who took on a significant amount of debt before or during the Great Recession have been focused on paying down existing debt and putting their business in a better position as the economy recover.
The Coleman Report May 1, 2012 |
Recession a Hurdle for Small-business Owners Seeking Credit to Operate
A lending index by Paynet, which tracks commercial loans, shows small-business lending nationwide has not picked up since the financial crisis began in late 2008. The Chicago area firm's index peaked in fourth-quarter 2008 at 115 as the financial crisis hit and then dropped to 75 by first-quarter 2010. Since then, it has fluctuated between 70 and 75.
"Lending is beginning to loosen up a bit, but people have to remember how bad it was in 2009," said Bob Coleman, editor of the Coleman Report, a La Canada, Calif.-based publication that tracks SBA loans. "Lenders say they don't have enough good-quality applicants, and Main Street says there aren't enough lenders providing small-business loans," he said. "Is that a supply problem or a demand problem?" |
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Congratulations to the WKU Graduates
The WKUSBDC wish you the best in the future. If you are interested in starting your own business, remeber that our sevices are for you and they are free. Feel free to contact us at 270-745-1905 or 270-467-7154. |
Funded in part through a cooperative agreement with the U.S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of SBA. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance.
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 The Kentucky Small Business Development Center is a network of 15 offices located throughout the commonwealth that help existing and start-up businesses succeed by offering high quality, in-depth and hands-on services. These services include: no-cost confidential business consultations, affordable business workshops, seminars and research to help business owners make informed business decisions. For more information or to locate a consultant near you, visit www.ksbdc.org.
"Funded through support from the City of Bowling Green's Community Development Block Grant Program"
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The Western Kentucky University Small Business Development Center is hosted by Western Kentucky University.
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