Are the Women’s Business Center services for women only?
No. Although the Women’s Business Center is partially funded by the Office of Women’s Business Ownership, we do not discriminate against anyone. Men are welcome.
Is there free money to start my business?
While there are a few grants available for non-profit businesses (see www.grants.gov) Cornerstone Alliance nor the Small Business Administration SBA do NOT have free money to start a business. Loans are available (see Microloans)
Where is the WBC located?
The WBC at Cornerstone Alliance is located at 38 W. Wall Street, Benton Harbor, MI 49022.
What area do you service?
The Women’s Business Center at Cornerstone Alliance services the Michigan counties of Berrien, Cass and Van Buren. To find the nearest WBC visit www.sba.gov.
How do I know if the WBC is right for my needs?
Come to a free orientation session. These are held each month at various locations throughout Berrien, Cass and Van Buren counties. The free orientation will introduce you to all WBC services, how to apply, enrollment dates, work expectations and scholarship opportunities. All you need to do to attend is call in advance to reserve a seat 269-925-6100.
Do I have what it takes to own/manage my own business?
You will be your own most important employee, so an objective appraisal of your strengths and weaknesses is essential. Some questions to ask yourself are:
- Am I a self starter?
- How well do I get along with a variety of Personalities?
- How good am I at making decisions?
- Do I have the physical and emotional stamina to run a business?
- How well do I plan and organize?
- Are my attitudes and drive strong enough to maintain motivation?
- How will the business affect my family?
What is a business plan and why do I need one?
You wouldn’t take a trip without mapping out ahead of time which road you will take you’re your means to get there. A business plan precisely defines your business, identifies your goals and serves as your firm's resume. It’s a plan of your business! Its basic components include a current and pro forma balance sheet, an income statement and a cash flow analysis. It helps you 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 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.
The Women’s Business Center at Cornerstone Alliance can assist you in putting your business plan together. Our Business Resource Center is equipped with computers with business planning software and Entrepreneur “How To” guides available for your use at no cost.
During our free one-on-one business counseling we will go over a Business Readiness Assessment. The questions contained in this form assist you with your research and answer the questions that are required of a business plan.
Why do I need to define my business in detail?
It may seem silly to ask yourself, "What business am I really in," but some owner-managers have gone broke because they never answered that question. One watch store owner realized that most of his time was spent repairing watches while most of his money was spent selling them. He finally decided he was in the repair business and discontinued the sales operations. His profits improved dramatically.
What if I start taking your classes and someone steals my business idea?
First, there are not many business ideas that are new and haven’t been thought of or tried before. Your idea is likely a new spin on an old idea. So you will be able to talk about the category of your business (e.g. a coffeehouse) without telling more than you wish (e.g. a coffeehouse with a horticultural theme next to a public garden). Second, people in our classes often develop camaraderie and tend to help each other more than compete with each other.
Do I qualify as a small business?
You can quickly determine if you qualify as a "small" business by using our NAICS (North American Industry Classification Codes) or SIC (Standard Industry Classification) Code Lookup Table.
Simply enter your business description or NAICS/SIC code (if known). Then use the resulting table to locate your products/services and see the size standards for your busines type.
Can I operate a business from my home?
Yes. In fact, experts estimate that as many as 20 percent of new small business enterprises are operated out of the owner's home. There are however steps you will need to take to ensure that you are in complaince with your City or Township laws. We can provide pertinent information on how to manage a home-based business.
How do I sell my business?
The SBA offers several publications to specifically help in this area. Also, browse the publications in SBA's Online Library.
How do I purchase a business?
Purchasing an existing business or a franchise may be the right fit for your. You can only determine if it is viable for you to purchase a business by going through the business planning process. Visit us for free one-on-one business counseling for tips on purchasing an existing business or franchise. Also plan to attend our next “HOW TO INVESTIGATE AND BUY A FRANCHISE” seminar. Contact Cornerstone Alliance Small Business Services (269-925-6100) for seminar information.