Owning a small business isn't a job. It's a calling. Wherever you are on your entrepreneurial journey, the Michigan Small Business Development Center (Michigan SBDC) is here to help. Our May Newsletter features:
Miguel Atkinson, an experienced tool and die maker from Flint, had always wanted to own his own shop. When the shop owners he had worked for for several years decided to retire, Miguel decided to acquire Precision Industries. He realized, however, that he needed counsel to secure the capital needed to do so.
He and Senior Business Consultant Harry Blecker met dozens of times to prepare the business plan and build out financial projections, plus reviewed topics such as business appraisal, environmental assessments, marketing, payroll taxes and employee retention strategies.
With the documents in hand, Miguel considering several financing options and opened the doors of Precision Industries Acquisitions. The company provides mold building/repair, plastic injection molds, structural foam molds, CAD/CAM, design and custom machining.
This project is being supported in whole or in part, by federal award number SLRFPO127 awarded to Economic Development Alliance of St. Clair County by the US Department of Treasury.
Small Business Blog 📝
Why Customer Discovery is Important
Studies suggest an astounding 35% of companies fail for lack of market fit (i.e., no one gives a…darn). So, before wasting a whole lot of life chasing the wrong problem, spend the time early on confirming that someone (besides your mom) cares.
In the fast-paced world of startups and entrepreneurship, the burning question you may find yourself asking is, “I need a business plan—can AI just do that for me?” While AI can help you in many ways, it is not a comprehensive solution in and of itself.
This free tool from the SBA helps connect businesses with verified U.S. manufacturers, producers, and suppliers. It’s built to support companies that want to onshore operations, strengthen their supply chains and source the components they need—all proudly Made in the USA.
The Internal Revenue Service's official YouTube channel features IRS videos to help America's taxpayers understand and meet their tax responsibilities and enforce the law with integrity and fairness to all.
People and Process: Practical Approaches for Times of Uncertainty June 25 | 12:00pm
Michigan's small businesses are confronting uncertain economic times. Join us for a discussion on how to prepare your business and your team for what lies ahead. From employee retention initiatives to strategic planning to process improvement, we will discuss practical approaches to help you grow and build value in your business during difficult economic conditions.
Exploring Small Business Ownership July 2 | 10:00am
This introductory webinar covers the process of exploring a framework for your business, evaluating market potential for your products or services, startup costs and financing options, plus initial steps for writing a business plan.
We will use the Michigan SBDC's Simple Business Plan Template to help you plan your business description, market analysis, management and operations, and financial projections.
