Established businesses include businesses which are currently in operation. Owners of existing businesses have overcome many hurdles in the pre-planning and start up stage. However, existing business owners continue to face a variety of challenges. Business owners must effectively use limited resources to improve their position in the market while continuing to manage the critical aspects of business operations. In addition to limited budgets, business owners have limited time since they must wear multiple hats in the business. To achieve long term success, business owners must also work to lay the foundation for future growth and adapt to changes in the marketplace.
The Ohio Small Business Development Centers offer a variety of services and solutions to assist owners of existing businesses. The SBDC supports business owners by offering general information and market research, individualized consulting services, and training programs on relevant business topics.
The SBDC offers a wide variety of live classes on topics relevant to existing business owners.
The SBDC offers marketing assistance to small business owners. Businesses can receive assistance in obtaining market research and developing a marketing plan as well as obtain suggestions and advice regarding marketing options. The SBDC provides tools and information in the area of marketing.
Growth Planning and Business Expansion
Growing or expanding a small business requires planning. It is important to establish a solid foundation for future success as well as avoid common pitfalls. To assist small business owners in these efforts, the SBDC provides individualized consulting services to existing businesses in Ohio.
The SBDC also provides assistance in developing a business plan. For those who are writing a business plan, the SBDC offers suggested Action Steps for Writing a Business Plan. These steps are intended to help guide you through the process as point you towards suggested information and tools.
In addition, various tools and articles on the topic of business planning are available.
Maximizing Profits and Managing Cash Flow
Maximizing profits and managing cash flow are objectives of most small business owners. The SBDC can assist small business owners in pursuing these goals. By offering individualized consulting services to small business owners in Oho, SBDC staff can analyze the current status of a business and its cash flow patterns. The SBDC can then provide information and recommended solutions tailored to the needs of the small business. In addition, the SBDC can develop customized financial analysis reports utilizing existing businesses financial statements which provide insight into the financial strengths and weaknesses of the business. This information can be valuable in planning, budgeting, and managing cash flow.
Obtaining financing for a small business is a big step and can be challenging. Therefore, it is important to consider the realities of obtaining financing. Information on obtaining financing can be found at the following links:
In order to obtain a small business loan for an existing business, you should develop a loan proposal in order to communicate with potential lenders. The SBDC also offers recommended action steps for developing a small business loan proposal.
Answers to Questions
Ohio residents who need additional assistance in answering small business questions, contact your local SBDC office.