Starting a business can be expensive. Be sure that you prepare enough money to run your business for at least the first several months. This may include the amount of money you need to cover your startup expenses such as buying equipment as well as permit or license fees. It may take time to set up before you have enough customers to be profitable.
Using the calculations and estimates from your business plan, decide if you have enough money to begin, or if you need additional capital first. Lenders want to see that you have some of your own capital invested in your business.
You will need financial projections for at least the first three years of operation.
Determine how long it will take for your business to become profitable: How many customers might you need? How long will it take to find those customers?
Show a summary of major purchases (the sources) and what specific capital will purchase (the uses).
Remember that a business plan is required when applying for bank funding.
The Small Business Development Center (SBDC) helps entrepreneurs realize the dream of business ownership. The SBDC advisors provide a variety of FREE business consulting and low-cost training services.
They have online courses as well as classroom courses.
Please park in Lot O. Remember to purchase a $2 parking pass at the machine located to the right of the lot entrance. All attendees must park at any “non-staff” and “non-30 minute” lots.
Open Hours: 5:00 am to 9:30 pm
Buses 93, 101, 103, 111/112, and 176 all serve the SBDC and can be caught from the transit mall located on first street in downtown Long Beach.