What Banks Look for When Deciding on a Business Loan
I spend a lot of time here at the SBDC working with clients on financial issues for their businesses. A lot of the time, it involves applying for a business loan. Folks often don’t have a good understanding of what a bank will be looking for when making a lending decision. The basic idea […]
Do you have enough capital to start your business?
One of the things we talk about as a significant failure factor for new businesses is being under-capitalized when they start. Undercapitalizing is simply a fancy finance term for underestimating how much money it will really take to (1) get the business started and (2) to cover initial losses while sales ramp up before […]
Thoughts on Small Business and Response and Recovery During COVID-19
Napoleon Hill, author of multiple books, including Think and Grow Rich and The Master Key to Riches, once said, “Every adversity, every failure, every heartache carries with it the seed of an equal or greater benefit.” Though it can be hard for some of us to consider a benefit or opportunity right now, in the […]
Small Business DoD Contractors – Be Alert, CMMC Has Arrived
Many reading this post are aware there are significant changes coming for Department of Defense (DoD) contractors (prime or subs) in 2020 and it is essential to be getting ready for these if you intend to continue with existing DoD contracts or obtain new ones. Currently, DoD allows a business to self-certify compliance to controls […]
5 Strategic Planning Moves to Position for Success
By Mark Collier, Business Consultant As we move into the fourth quarter of 2019, savvy business owners are looking ahead to their business prospects for the year 2020. Now is the time to begin looking at strategic planning for the upcoming year. Here are five simple yet strategically sound steps to help plan for a […]
Financial Assistance from the SBDC Triples the Size of a Family-Owned Assisted Living Business
Nurse Sue Bailey has been a caring person all her life. So, when her family suggested she open a care facility, she did. Twice. “My cousin had started a small place that she ended up expanding. It was a wonderful place. For years, she encouraged me to do it,” she said. When she neared retirement, […]
2019 – Mind Your Business – November
November 13, 2019 (11:30 a.m. – 1:30 p.m.) If you utilize digital technology for business transactions, communication, financial management, or other forms in your business (and most everyone does), make plans to attend this lunch and learn on Wednesday, November 13, 2019. The event will be at SharedSpace Augusta, 901 Greene St. downtown. What will […]
APPAREL ADVENTURE TO SUCCESSFUL BUSINESS
Carlton Grubb could teach students in the University of Georgia Terry College of Business’ Entrepreneurship Program a thing or two about running a successful home-based business when she goes to campus this fall. But first, she’d really just like to enjoy the full UGA freshman experience. Carlton owns Grubbwear, a line of acid-splattered apparel and […]
