America’s SBDC Blog

A “Forbes 100 Best Websites for Entrepreneurs”

Engineering Success

October 26, 2015
M3-MarjorieMeltonSuccess Story: Missouri
  • St. Louis SBTDC, Missouri SBTDC network
  • Client: M3 Engineering Group PC – SBTDC client since 2008
  • SBTDC Consultants: Kevin Wilson (St. Louis SBTDC); Larry Dill (MO SBTDC International Trade Center); Greg Tucker (MO SBTDC)

“Kevin and his staff are extremely helpful, responsive and there for us when we need them most. They helped us obtain initial start-up funding from SBA and the Urban Enterprise Loan fund, and provided valuable training to help us navigate the murky waters of a small business start-up.” – Marjorie Melton, CEO and co-founder, M3 Engineering Group

Impact of working with the Missouri SBTDC: Secured capital funding (SBA, Urban Enterprise loans) of $545,000.00; doubled revenue from $1.2 million in 2012 to $2 million last year, and expect $2.5 million+ in 2015.

Read the whole story, and learn more about the Missouri SBTDC and the M3 Engineering Group.

Army Veteran’s Business Battles Bullying

October 23, 2015
UTSA-Success-Success-Army-Vet-Battles-BullyingSuccess Story: Texas

“The (UTSA SBDC) staff are experts in leveraging business acumen and providing resources, advice and access to avenues that help small-business owners start and grow their business. I highly recommend them to any veteran starting their own business.” – Tim Porter, Founder & CEO, Appddiction Studio

Tim Porter planned on a long career in the military, quickly moving up the Army ranks for nearly 10 years. But one instant changed everything. Stationed at Camp Casey in South Korea in 1998, a bomb exploded in Porter’s hands during a training exercise.

Over the next 15 years, Porter would enter the information technology field and climb the ladder much like he had in the military. With the help of friends, reading books and watching tutorials, he taught himself how to develop apps. (more…)

Help Employees Save with myRA®

October 21, 2015

It’s National Save for Retirement Week – Help Employees Save with myRA®

October 18 – 23 is National Save for Retirement Week and it’s a perfect time to help employees establish their retirement goals and take the first step toward meeting them. If you have employees who don’t have access to a retirement savings plan – including part-time, temporary, and contracted workers – you can help them start saving with myRA (my Retirement Account). 

What is myRA?

myRA is a new retirement savings account developed by the U.S. Department of the Treasury to make saving for retirement easy for the millions of people who don’t have access to a retirement savings plan at work or lack other options to save. It costs nothing to open a myRA account and there are no fees. Employees can choose to save an amount that fits their budget1, and the account carries no risk of losing money. In addition, savers can transfer or roll over their savings to a private-sector Roth IRA at any time.  (more…)

Lighting the Way for Firefighters

October 19, 2015
Lighting-the-way-for-firefightersSuccess Story: Pennsylvania

“We could not have been successful without the SBDC’s support, business connections, and excellent service” – Steve Brion, Owner and CEO of Light Shield Products LLC

Impact of working with the Pennsylvania SBDC: Steve credits the SBDCs’ assistance directly in helping Light Shield to obtain the investments necessary to turn his idea into a reality. Sales of the new Level Light product began with its launch in May, 2013, and new jobs have been created in sales, marketing and accounting. (more…)

Consider the Legal and Financial Aspects of Owning a Franchise

October 15, 2015

FranNet-Blog-10-15-2015As with any major investment, the best decision can be made only if you’re as informed as possible. You need to spend a good deal of time researching, interviewing and exploring your options — and a part of the process is determining what the legal and financial aspects are.

As your focus gets more serious with the idea of owning your own franchise, you need to genuinely look at your financials and propose a budget with which you feel comfortable. Research the many options you have, like the Self-Directed 401K option or loans. Financing a franchise may be considered a lower risk investment, mostly because franchises have proven track records and an established trademark and brand. That being said, it is still crucial that you prepare an in-depth business plan and explore a range of options so you commit to the one that makes the most sense for your budget.  (more…)