Vancouver Business Resource

VancouverBusinessResource.org
WHERE SW WASHINGTON BUSINESSES GO TO GROW

Thinking about starting a business?

 

If you're thinking about taking the first step to
building your dream, congratulations!

- You just did.


 

Here's a list of resources and things to think

about to get you going. If you can't find
something you're looking for, just ask us.


Know Yourself
Know Your Market Niche
Know Your Customer
Know Your Finances
  • List your financial strengths and weaknesses

    Pay attention to credit history available cash/assets, and current financial obligations, outside resources. Carefully assess your financial health by comparing what you own to what you owe.
    www.annualcreditreport.com
  • If considering the business as an investment, seek the advice of an investment professional.

    Meet with a Financial Advisor or CPA:
    http://www.cfp.net/search/
Develop a Business Plan
Do YOU Have the Money? To Borrow or not to Borrow?
  • Determine how you will finance your business.

    Do you have personal cash: savings, family investment, or equipment that can be converted to a company asset? Complete personal financial statements; Balance Sheet and Inflow/Outflow analysis. List the resources you will commit from your analysis (cash and assets). Determine if that is enough or will you need to seek cash from other sources?
    http://www.sba.gov/financialassistance/
  • Consider options: lenders, suppliers (trade or credit), "angel" finance, venture capital, insurance company

    Can you meet the 5 "Cs"? (Positive Credit, Collateral, Credibility through Experience, Cash Equity, Capacity to Repay) Have initial meeting with lender or investors to assess ability to raise capital. If you don't have 25-30% of the business's start-up costs and/or you have a poor credit rating, you may find it difficult to secure outside loans.
    http://www.sba.gov/financialassistance/
    http://dfi.wa.gov/sd/smallbusiness.htm
  • Is your Business plan and loan proposal draft complete?

    Review business plan or loan proposal with SCORE or SBDC advisor. Identify lender or investor and make appointment:
    www.scorevancouver.org
    www.WSBDC.org
Create a Legal Entity
Permitting for Construction
Comprehensive Checklist

Got all that?

Alright then, let's keep moving forward!
Click here to get tips and resources for maintaining your business.


The SBDC is 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 view of the SBA.
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