Help available for budding entrepreneurs [Las Cruces Sun-News, N.M.]
(Las Cruces Sun-News (NM) Via Acquire Media NewsEdge) Aug. 16--LAS CRUCES >> Have you ever sat at your desk, or toiled on the work site, and thought about operating your own business?
If so, you are not alone.
According to a new survey, 41 percent of Americans who do not currently own their own business, hope to do so in the future.
The survey, conducted by the University of Phoenix, shows that age makes a significant difference as 55 percent of workers in their 20s who don't currently own a business hope to do so in the future, followed by 48 percent of workers in their 30s and 36 percent in their 40s. The desire for a second career may also be lead more workers to also consider entrepreneurship later in their careers. In fact, 39 percent of workers in their 50s and 26 percent of workers age 60 or older who do not own a business, want to do so in the future.
"Being a business owner isn't easy, but can be very rewarding for those who have done their homework and are educated about the different facets of running a business," said Sam Sanders, college chair for University of Phoenix School of Business and a former human resources executive with more than 20 years of experience, via a release. "One of the biggest challenges is recognizing what you do not know.
Tom Heilpern, a retired businessman and now a counselor for SCORE -- a national nonprofit that helps
people who want to or already own a business and has a Las Cruces office -- said that the most important issue he notices is the lack of knowledge when it comes to handling finances.
"Some people do not understand how to read their financial statements," Heilpern said. "I had somebody come in who wants to (expand). She was not making much money and I asked 'What are your costs?' She said, 'I don't know.'"
Sanders said that just knowing about a certain business is not the same as running that business.
"Entrepreneurs may have a solid understanding of a niche or industry, but may not have a lot of experience in other aspects of running a business, including strategic planning, marketing, finance, people management, procurement and research and design," he said. "Business degree programs and continuing education, along with a variety of free business resources and networking opportunities, can help entrepreneurs fill these gaps and strengthen their business acumen."
There is help available, some of it free.
"Take advantage of any financial training you can get," Heilpern said.
Other groups that offer free advice and help in Las Cruces include the Small Business Development Center at Dona Ana Community College at 2345 E. Nevada Ave., and WESST, which is located at 221 N. Main St., Suite 104A. Both organizations work with entrepreneurs who want to start their own business or who has started one but still needs help. SBDC can be reached at 575-527-7676 while WESST's phone number is 575-541-1583.
SCORE has a free seminar scheduled for next month at the SBDC offices titled "How To Start Your Own Business." The organization reports that the seminar "will cover the basic information needed to successfully set up and operate a small business. Most small businesses that fail do so because of insufficient planning before opening the doors."
Here are some of the questions that will be answered and areas that will be discussed:
* Are you ready to start and run your own business: Advantages and disadvantages?
* How to turn your idea or hobby into a business
* The legal aspects of creating a business: License, certification, tax ID, zoning, etc.
* Market research, how to find your customers.
* How to promote your business: Marketing, advertising, use of media.
* Structuring your business: Sole proprietor, partnership or corporation.
* Financing your business: How much do you need and where do you get it?
* Staffing your business: Who is needed to run it?
The seminar will be held Wednesday, Sept. 18 from 9 a.m. to noon at the Las Cruces Small Business Development Center DACC Workforce Center on Nevada Avenue, Room 127. For more information, call 575-527-7676
Brook Stockberger may be reached at 575-541-5457
(c)2013 the Las Cruces Sun-News (Las Cruces, N.M.)
Visit the Las Cruces Sun-News (Las Cruces, N.M.) at www.lcsun-news.com
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