PCEDC partners with WIU to host Business Workshop Series
PROTECTED CONTENT
If you’re a current subscriber, log in below. If you would like to subscribe, please click the subscribe tab above.
Username and Password Help
Please enter your email and we will send your username and password to you.
By DAVID CAMPHOUSE
Starting Feb. 21, Pike County Economic Development Corporation (PCEDC) is offering its recurring Business Workshop Series in partnership with the Western Illinois University (WIU) Small Business Development Center (SBDC). All workshops will take place at JWCC’s Southeast Education Center in Pittsfield.
According to PCEDC Director Brenda Middendorf, the classes play an important role in growing the local economy.
“The classes have a great impact on our community, in that they help start new businesses,” Middendorf said prior to last year’s workshop series. “The classes provide valuable training for entrepreneurs just getting started. They are also of great help to small businesspeople, who need help with marketing, financials or business plans.”
Middendorf added that the capstone of the workshop series is a business plan, which entrepreneurs may use to seek financing for their planned businesses.
“People who complete the classes will have a business plan that they can bring to a bank for financing, and they’ll have a leg up,” Middendorf said.
According to a release from PCEDC, the workshop series is designed for all current and aspiring business owners to successfully run and grow their passion, and it will include a discussion of tools that can help participants evaluate how they will address the challenges and opportunities of entrepreneurship and will also provide a high-level overview of many key topics related to starting a business.
The workshops are led by Jim Boyd, the WIU SBDC director. Boyd has counseled hundreds of businesses and has owned and operated businesses of his own. Boyd knows the ins and outs of starting, growing, and evolving businesses of all kinds and sizes. In addition, he is passionate about helping prospective entrepreneurs realize their visions.
PCEDC’s Small Business Workshop Series kicks off on Tuesday, Feb. 21, with a session dedicated to “Getting Your Business Started.”
Participants at the workshop can expect to learn about:
• Getting their business name registered.
• How to obtain a tax ID number.
• Which legal form to choose.
• Business plans, taxes, financing options and more.
Middendorf said that in the last couple of years, the workshop series has led to the creation of multiple new businesses in Pike County – including but not limited to Douglas Automotive, Zac Pruett, Inc. trucking, Judi’s Country Store and Natural Reflections Skin Spa.
All workshops will be held at JWCC’s Southeast Education Center, 39637 260th Ave, Pittsfield from 6-8 p.m. Workshops are free but registration is required. To register, send an email to bmiddendorf@2riversrcd.org. your interest or call 217-491-2401.
Workshop schedule:
Feb. 21: Getting your business started
This workshop is for individuals who are interested in starting their own business. You will learn about: getting your business name registered, where to obtain a tax ID number, which legal form to choose, business plans, taxes, financing options and much more!
Feb. 28: Understanding your financials
Small business accounting and understanding the use of it can help a business prosper, the misunderstanding can sink a business. Our advisors have training in the use of QuickBooks®, the small business accounting software that makes your financials understandable and your company run smoother. We can assist you with loan package preparation, financial analysis, annual budgets, and general financial literacy. How to read balance sheets, Profit and Loss Statements or income statements and cash flow statements and why it is the most important for small businesses.
March 7: Creating a business plan part 1
Failing to plan = planning to fail: Small businesses need to have a roadmap, whether they are startups or existing businesses. At each point in the development of a small business a business plan is needed, however, one size does not fit all. A business plan precisely defines your business, identifies your goals, and serves as your firm’s resume. Its basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you to allocate resources properly, handle unforeseen complications, and make the right decisions. Because it provides specific and organized information about your company and how you will repay any borrowed money, a good business plan is a crucial part of any loan package. Additionally, it can tell your sales personnel, suppliers and others about your operations and goals. This first session will focus on the narrative of a Business Plan.
March 14: Creating a business plan part 2
Using our business plan format with Pro Forma financial preparation we can assist the new venture with a plan to secure financing. With our use of GrowthWheel® 360° assessment tool we can help companies grow by identifying and planning areas of improvement.
March 21: Marketing basics
This session will cover finding your target market. Using demographics and research to learn how to find them. Will also cover Return on Investment and how to measure it.
March 28: Online marketing
How to create an affordable website, social media and their different target markets, email marketing and establishing yourself as the expert.
