January 13, 2020 -- Utah District Office Newsletter

Utah District Office  - January 13, 2020

u s small business administration
New Year, New Business 2020

New Year, New Business

By Allen Gutierrez

SBA News and Views


If you’ve been dreaming of becoming your own boss, 2020 is a good year to start. Let the SBA help guide you on your path to entrepreneurship.

Is 2020 the year to make your dream of owning a small business a reality?
With the start of a new year and a new decade, there’s optimism in the air – and you may be thinking it’s the year you’ll get your small business off the ground. Perhaps you’re considering turning your hobby or side hustle into a full-time job, or maybe you’ve simply always aspired to be an entrepreneur.
Whatever your inspiration, with small business optimism on the rise, this year may be the time to act and the U.S. Small Business Administration (SBA) stands ready to help you get started.
As you’re starting up your small business, consider these key initial steps:
Conduct market research. Do your due diligence to make sure that your business idea is viable in the market you’re planning to target. Some considerations include whether similar businesses are already rooted in the community where you’ll be based and whether enough demand exists. Conducting a competitive analysis will help you get a better sense of whether your business idea is likely to take off in a given market.

Write your business plan. A well-executed business plan will help you set and track goals while convincing investors and lenders that your business is destined for success. Whether you thrive on detail or just want to get the basics down on paper, multiple business planning formats and templates exist. Learn more in the SBA’s online, self-paced How to Write a Business Plan course.

Find funding. Once you know how much funding you’ll need to get your business off the ground, consider what funding type makes most sense for your business based on terms, rates and risks. There are a wide range of options including self-funding, venture capital, crowdfunding, small business loans and more. Do you need an SBA-backed loan? Use the SBA’s Lender Match tool to connect with approved lenders.

Pick your business location. When contemplating a location for your business, take into account the costs, benefits and restrictions associated with different states, counties and jurisdictions. Standard salaries, minimum wage laws, property values, rental rates, business insurance rates, utilities, and government licenses and fees are just a few costs that vary by location.

Choose a business structure. Your business’s legal structure will impact your business registration requirements, tax rates and personal liability. Read up on common business structures, from sole proprietorships to LLCs and more.

Additional Resources
Now that you’ve reviewed these initial steps, check out our comprehensive 10-step guide to starting your own business. For help implementing these steps, and for expert guidance throughout your journey, turn to local SBA Resource Partners, including SCORE, Small Business Development Centers, Women’s Business Centers and Veterans Business Outreach Centers.
If you’ve been dreaming of becoming your own boss, 2020 is a good year to start. Let the SBA help guide you on your path to entrepreneurship. Learn more about how we can help at every business stage at sba.gov.


opp zone

HUD has officially launched the Opportunity Zones website: https://opportunityzones.gov/

OpportunityZones.gov will serve as a hub of information for the array of audiences that work with the Opportunity Zone initiative.
• Opportunity Zone residents, State and local leaders, investors, and entrepreneurs can all utilize the website to get information about the latest actions of President Trump’s White House Opportunity and Revitalization Council.
• The Opportunity Zone website includes:
• An interactive map of the 8,764 Opportunity Zones nationwide
• Links to the Opportunity Zone-focused website of each state and territory;
• Comprehensive Federal tools and resources that support Opportunity Zone residents and complement Qualified Opportunity Fund investments; and
• The completed action items of each White House Opportunity and Revitalization Council member agency.


 

 

 

Boots to Business Jan. 15-16 at Hill Air Force Base

The curriculum provides assistance to those interested in exploring business ownership or other self-employment opportunities by leading participants through the key steps for evaluating business concepts and providing foundational knowledge required to develop a business plan. Participants are introduced to a broad spectrum of entrepreneurial business concepts and resources available to access start-up capital, technical assistance, contracting opportunities, and more.

Jan. 15-16, 9 a.m. to 4 p.m. 

Class Address: Hill Air Force Base Airman and Family Readiness Center

 

Ask to speak with the Veterans Business Development Officer for help
(801)524-3209

Register Here



 

SBA Learning -- FREE--Self Paced Online

How to Prepare a Loan Package

This course is designed to provide a basic overview of loan packaging. It is a practical program with real-world examples and helpful tips. The course is directed to small business owners who are interested in borrowing money to start, grow or expand their businesses.

Start Here



State Trade Expansion Program (STEP)

STEP: SBA's Export Grant Program

Are you looking to find new customers in global markets? Are you interested in attending an international trade show? Have you heard about STEP?

STEP, or the State Trade Expansion Program, is a U.S. Small Business Administration (SBA) grant program that has successfully assisted thousands of small businesses in the international marketplace since 2011. Through awards to states and U.S. territories, STEP is helping businesses learn how to export; obtain services to support foreign market entry; develop websites to attract foreign buyers; design international marketing products or campaigns; and participate in foreign trade missions.

Apply Here

Do you have questions about tariffs or customs compliance, need information on new international markets, or advocacy on your behalf with a foreign government regarding a pending contract?  Please call the SBA toll free (855) 722-4877.



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Check out our Twitter Feed at

twitter.com/SBA_Utah


Doing Business with the Federal Government Information Session
The U.S. government is the largest single purchaser of goods and services in the world

Contracting Opportunities

The government works to make sure small businesses get at least 23 percent of all federal contracting dollars. Come learn about the SBA contracting programs listed below that can help YOU bid on contracts and earn those dollars.

  • Women-Owned Small Business Federal Contracting program
  • Service-disabled Veteran-Owned Small Business program
  • 8(a) Business Development program
  • HUBZone program

The SBA provides several programs to help small businesses win federal contracts.

Participating in these programs helps small businesses:

  • Earn a fair share of federal contracts
  • Qualify for exclusive set-aside and sole-source contracts
  • Partner with established contractors to gain contracts
  • Get business mentoring and education to learn how federal contracting works

Next session: Thursday, January 30, 2019

10:00 am – 12:00 pm

125 South State Street, Rm 2222

Salt Lake City, Utah 84138

For more information call (801) 524-3209. 


Resource Partners


Small Business Development (SBDC)--Improving people’s lives through small business success.

The Utah Small Business Development Centers (SBDC) have training, tools, and access to consultants to help business owners succeed in starting, growing and transitioning their businesses. With free, confidential consultation and free or low-cost training, Utah’s SBDC Network is here to help you. Assisting business owners at any stage of their business, the SBDC’s certified business consultants are here to answer your questions.

The SBDC can help when you need assistance to:

  • Make actionable plans to get started
  • Assess your current operational needs
  • Get ready to grow your market
  • Prepare for funding to accelerate your business
  • Get ready to transition out of your business

Offering workshops, online training, and confidential one-to-one consultation — the SBDC is here for you.

Since 1982, the SBDC has been helping business owners. Visit us at one of our 14 locations state-wide. Funded in part by the U.S. Small Business Administration (SBA), the Utah State legislature, and hosting state universities and colleges, the SBDC is here to help. Utah SBDC network is nationally accredited by the Association of SBDCs.

Find out more

 

Women's Business Center of Utah (WBCUtah)

We help women: Build Confidence, Create Opportunities and Experience Success

We provide you with a personal mentor, online training and opportunities to learn with a group of women business owners just like you. 

Pulling from their own experience, our business advisors can help seasoned and aspiring women business owners alike. To get started, create a client profile and then request a session at WBCUtah.org

Invest time into our guided courses and the result will be a finished business plan, growth model and so much more! To enroll, click “register” and you will receive an email with a link and instructions.

Jump Start: Intro to Entrepreneurship

In 90 minutes, find out what it takes to jump into business ownership. Learn what to consider, how to research your idea, steps to setup a legal business and keys to success.  

Course also offered in-person in Salt Lake City and Cedar City.

REGISTER

Connect on the WBC Facebook Page 

 

What We're About (SCORE)

SCORE is a nonprofit organization affiliated with the Small Business Administration, providing free mentoring, advice and workshops to help you start or grow a business. Set up an appointment to meet with a SCORE Certified Mentor, free of charge, by calling (801) 957-5453. 

Get connected:

Meetup Group 

Free small business workshops and networking events

Facebook page


District Office Directory

Marla Trollan, District Director --  Executive Officer of the Utah DO

Phone: (801) 524- 3200     Email: Marla.Trollan@sba.gov

Christopher Stever, Deputy District Director

Phone: (801) 524- 3215     Email: Christopher.Stever@sba.gov

John Gygi, Legal Counsel

Phone: (801) 524-3205      Email: John.Gygi@sba.gov

Sharlene Miller, Paralegal

Phone: (801) 524-3221      Email: Sharlene.miller@sba.gov

Cheryl Richens, Administrative Officer

Phone: (801) 524-3219      Email: Cheryl.Richens@sba.gov

Cody Neville, Business Opportunity Specialist  

Phone: (801) 524-3206 Email: Cody.Neville@sba.gov

Karl Wernick, Lender Relations Specialist

Phone: (801) 524-3210       Email: Karl.Wernick@sba.gov 

Don MacMillan, Lender Relations Specialist

Phone: (801) 524-3226        Email: Don.MacMillan@sba.gov 

Rachel Bennett, Economic Development Specialist

Phone: (801) 524-3223       Email: Rachel.Bennett@sba.gov

Ian Lorenzana, Economic Development Specialist -- Veteran and Small Business Development Liaison, Marketing and Outreach

Phone: (801) 524-3218       Email: Ian.Lorenzana.@sba.gov 

Melinda Workman, Economic Development Specialist -- Score and Women's Business Center Liaison, Marketing and Outreach

Phone: (801) 524-3218       Email: Melinda.Workman@sba.gov 

Siobhan Carlile, Public Affairs Specialist -- Newsletter Editor, Media Relations, Social Media

Phone: (801) 524-3217       Email: Siobhan.Carlile@sba.gov

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