SBA Rhode Island District Office December Newsletter

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Rhode Island District Office  - December 5, 2019

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In this Issue:


How to Write a Business Plan

National Write a Business Plan Month

A good business plan guides you through each stage of starting and managing your business. You’ll use your business plan as a roadmap for how to structure, run, and grow your new business. It’s a way to think through the key elements of your business.

Business plans can help you get funding or bring on new business partners. Investors want to feel confident they’ll see a return on their investment. Your business plan is the tool you’ll use to convince people that working with you — or investing in your company — is a smart choice.

Key areas to focus on:

Executive summary
Briefly tell your reader what your company is and why it will be successful.

Company description
Use your company description to provide detailed information about your company.

Market analysis
You'll need a good understanding of your industry outlook and target market.

Organization and management
Tell your reader how your company will be structured and who will run it.Describe the legal structure of your business.

Service or product line
Describe what you sell or what service you offer.

Marketing and sales
There's no single way to approach a marketing strategy, your goal in this section is to describe how you'll attract and retain customers.

Funding request
If you're asking for funding, this is where you'll outline your funding requirements.

Financial projections
Supplement your funding request with financial projections.

Appendix
Use your appendix to provide supporting documents or other materials were specially requested.

For more in-depth information on writing a business plan click the link below.

Business Plan Guide

For examples of business plans click the links below.

Rebecca's Plan           Andrew's Plan

 

Need more personalized assistance?

Join the SBA on December 10th at 3:00 p.m. for an in-depth Twitter Chat about drafting your business plan. What is a business plan? What is the value of having a business plan? What should you include? These questions along with questions submitted my users live will be answered. Mark you calendars today!

Twitter Chat: How to Write a Business Plan on December tenth at three pm Eastern Standard time. Hashtag #SBAchat.

National Small Business Week: Award Nominations

National Small Business Week Awards, submit your nomination.

Friendly reminder that all National Small Business Week nominations are due to the Rhode Island District Office by December 6th, 2019. For more information on award categories and nomination process follow the link below.

Nominate Today


How to Prepare Your Small Business for Winter Weather

How to Prepare for Winter Weather

An estimated 25 percent of businesses don’t open again after a major disaster, according to the Institute for Business and Home Safety. The following checklist will help you identify the areas of your business that are most susceptible to winter hazards. To minimize damage and recover quicker following a winter storm, it is a good idea to develop a plan of action for your business and staff.

Below you will find critical information and preparedness tools to assist in protecting your business and the most critical element of your business – your people.

Winter Checklist             Safety Tips


Veteran-Owned Small Business

Share your veteran business successes, lessons learned and resolutions on social media using hashtag #VetBiz.

What has 2019 meant to your Veteran-Owned Small Business? Join the SBA in reflecting on the past year by sharing your successes, lessons learned, and resolutions for the year ahead! Join the conversation on Twitter with the #VetBiz hashtag. 


Shop Small this Holiday Season

Small Business Saturday

(L-R) SBA Regional Administrator Wendell G. Davis; Ocean Community Chamber of Commerce President Lisa Konicki; U.S. Senator Sheldon Whitehouse; U.S. Congressman Jim Langevin; U.S. Senator Jack Reed; SBA District Director Mark S. Hayward; Ocean Community Chamber of Commerce Chairperson Jennifer Brinton; Rhode Island Foundation President and CEO Neil Steinberg.

In honor of the 10th anniversary of "Small Business Saturday," the U.S. Small Business Administration, along with the Rhode Island Foundation, and the Ocean Community Chamber of Commerce hosted a "Shop Small" walking tour of High Street in Westerly. The event was held to spread awareness of Small Business Saturday and encourage consumers to get out and "Shop Small".

"Small Business Saturday" may have come and gone but that doesn't mean you have to stop "Shopping Small' and "Buying Local". American Express estimates that 67 cents of every dollar spent at a local small business stays in that local community. Compare that with the estimated 13 cents per dollar spent at the big-box stores and the choice is easy.

Shop Small and Buy Local.


Procurement Technical Assistance Centers

Procurement Technical Assistance Centers

Procurement Technical Assistance Centers or PTACs, help small business find and bid on government contracts for free. Click the picture to left to visit the Rhode Island PTAC website. 


Follow Us on Twitter

Follow SBA Rhode Island Today!

@SBA_RhodeIsland

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We Want to Hear From You!

Let us hear from you!

 

Do you have three minutes? Take SBA’s Customer Experience Feedback Survey to help us better serve you. Your feedback is valuable and will help us better determine how we can improve our services. This survey is intended for current and prospective small business owners who have interacted with an SBA office.

All responses are anonymous. Thank you in advance for your time.

Survey

 


guide

All the information you need to start and grow your Small Business in Rhode Island can be found in our online Resource Guide. Download it today!