Description
A first step that a community can take to improve its small business sector is to offer small business seminars.
I nt r oduct i on: I mpor t ance of
Smal l Busi ness
Small businesses are a vital part of any
community, whether in a rural or urban
setting. In fact, 94 percent of employers
in Tennessee have less than 50 employees
(and 70 percent have less than 10).
1
In
addition to these small business employers,
Tennessee is home to more than 870,000
self-employed individuals (representing
23 percent of all jobs, including more than
71,000 farmers).
2
Given these facts, it is no
surprise that communities across Tennessee
have people who are, have been or want
to be engaged in owning/operating a small
business. However, despite the broad array of available resources, these current or potential
business owners are not always able to fnd what or who they need to help them be successful.
A frst step that a community can take to improve its small business sector is to offer small
business seminars. The goal of these seminars should be to give individuals the tools and
knowledge needed to successfully start up or expand a small business in the community.
Why Conduct Smal l Busi ness Semi nar s?
The reasons to host a small business seminar series will vary by community and by business owner.
There is defnitely no “one-size-fts-all” model/structure. Therefore, tailoring the series to local
needs is best. Some examples of why a seminar series may make sense for a community include:
§ Sector-specifc needs (e.g., agriculture, retail, arts/crafts, home-based business, etc.)
§ Chamber of Commerce membership cultivation
§ Youth entrepreneurship
§ Creating ‘buy-in’ and a foundation for entrepreneur-led economic development
In addition, such efforts are a good way to complement regional offerings (e.g., Small Business
Development Centers, etc.) by tailoring the training to meet specifc local needs. These seminars
can also serve as an excellent way to foster collaboration among technical service providers. This
is the critical frst step towards building a robust, community-level entrepreneurial system that
is easily navigable for aspiring and current small business owners. Lastly, since these seminars
are targeted at small business owners and entrepreneurs, a successful series can lead to the
development of entrepreneurship clubs or other forums through which people can network with one
another during the seminars and afterwards as ‘alumni’.
3
SMALL BUSI NESS SEMI NARS
Promoting Economic Development through a Community of Support for Small Business
Amanda Mathenia, UT Extension Decatur/Perry counties; Dr. Michael Wilcox, Assistant Professor,
Agricultural & Resource Economics; Creig Kimbro, UT Extension Grundy County; Dr. Alan Barefeld,
Extension Professor, Agricultural Economics, Mississippi State University
W263
2
Cur r i cul a and Topi c Desi gn
Extension has a long history working with small businesses from many different sectors using
the “seminar series” or “small business college” model. Experience has shown that the following
are the most sought-after topics of discussion for people interested in starting their own small
business. This fact sheet is meant to be a guide to help set up a small business seminar. As with
all programming, a community (or “needs”) assessment should determine if these topics ft the
needs of a community or if additional topics should be addressed. The assessment should take a
community-based approach and focus on the community’s assets.
4
Community Assessment for Small Businesses
Every potential small business owner should understand the situation and dynamics of his or her
market and location. This section will cover basic community demographics, offer general (and/or
sector-specifc) community economic and trade area analysis. It is important that individuals study
their market carefully and consider the areas in which their competitors are already frmly situated.
Often, small business owners must take into account specifc information about their location
(e.g., zoning, parking, etc.), location of competitors and traffc fow of surrounding areas. It is also
necessary to characterize or analyze the economic situation of the community in which they plan to
open their business.
Contacts for this area include Extension specialists, local economic development council/agency,
Chamber of Commerce, local tourism director, Small Business Administration (SBA)http://www.sba.gov/ representatives, Tennessee Small Business Development Centers (TNSBDC)http://www.tsbdc.org/, Center for Proftable Agriculture (CfPA)http://cpa.utk.edu/, Tennessee
Valley Authority (TVA)http://www.tva.gov/ and Labor and Workforce Development (LWFD)http://www.tn.gov/labor-wfd/.
Business Plan
In the overwhelming majority of cases, business plans play an important part in the success and
future of a small business. Each small business owner should have a business plan in place before
fnal considerations are made to open the business. The importance of a comprehensive, thoughtful
business plan cannot be overemphasized. Some of the topics that should be considered include:
outside funding; credit from suppliers; management of the operation; fnances, promotion and
marketing of the business; and realizing the owner’s goals and objectives – including the life-cycle
of the business. Discussion includes starting a business, the importance of a business plan and
business plan preparation. Many potential and even current small business owners are intimidated
by the very thought of outlining their business’ operations on paper. This session should have a
primary goal of alleviating those fears and convincing the participants that a business plan is an
exercise in thinking, not an exercise in writing.
Contacts for this area include Extension specialists, TNSBDC personnel and local lending
institutions. Representatives from the SCORE Association – a not-for-proft organization dedicated
to education and counseling of entrepreneurs, growing, solving challenges to their business or
forming new businesses, in the small business community – is another option.
3
Marketing
The most important consideration that a small business owner must face is “Will customers buy
the product or service that I am able or willing to provide?” Many owners/operators think their
marketing effort should consist solely of placing fyers under car windshields at the local shopping
center. However, marketing is much more than this type of advertising.
Marketing is taking the time to fgure out who your customers are and what you can do to convince
those people to purchase your product. Developing a marketing plan or strategy also enables the
small business owner/operator to identify the most effective means to reach these customers and
establish communication with them. The bottom line of marketing is to understand the customers’
needs and develop a plan that embraces those needs. Is it a product, good or service that is
marketable, or just something that seems like a great idea? Community assessment plays a major
role on the front end. However, careful planning, use of appropriate/effective technology and
execution of a robust strategy will determine success.
Extension specialists, the CfPA, the Chamber of Commerce, local public relations/advertising
agencies and local tourism councils are excellent sources to provide advertising, promotion and
marketing assistance.
Using a Web-based Social Network
In today’s world of “Likes” and “Tweets,” using a computer means much more than maintaining
fnancial records or monitoring a production process. Small business owners may need to be on
top of the latest social media trends, such as Facebook™, Twitter™ and YouTube™ to be successful
and in touch with younger, as well as more established audiences; all are part of an overall
marketing strategy. Tweeting has become a very inexpensive way for small business owners to
advertise the latest promotions within the store. Setting up a Facebook page can offer a free way
to get the name of the small business into the consciousness of a more modern, more technology-
driven society. One “Like” can lead to a whole string of “Fans” and this can lead to an expanded
customer base. Website development is another important basic to the success of a small business.
In today’s web-savvy world, an impressive, up-to-date website can make or break sales. In this
section, it is important to focus on website development and maintenance, specialized computer
uses and the use of social media.
Contacts for this area can be Extension personnel, local website developers, public relations/
communications experts and local marketing specialists.
Accounting for Non-Accountants
Accounting is one of the most essential aspects of starting and operating a small business. It is
easy to get caught up in the exciting startup tasks of choosing a business name or picking out
equipment, yet without a solid understanding of the numbers, the business will not survive. Some
former business owners ignored the fnancial side of business only to discover too late they were
operating at a loss, not a proft.
For this section, it is advisable to recruit a Certifed Public Accountant (CPA) or TNSBDC
representative to present information on computerized record-keeping systems, budgeting, balance
sheets and proft-and-loss statements. In addition, the SBA has created very professional balance
sheets and proft-and-loss statement templates that can be used as guides for small business
owners to access when performing accounting basics. UT Extension’s area farm management
specialists are also well equipped to offer training in this area, especially for those businesses in the
agricultural sector.
Taxes
New and long-time small business owners need to know their local, state and federal tax
responsibilities. It is important to the success of the business that owners pay only their fair share,
but that this fair share is paid. Topics include business tax, sales tax, use tax, local option tax rate,
registration, tax classifcation and licensing.
4
Contacts for this section include Extension specialists; local tax preparers; local tax assessor’s
offce; local CPAs; TN Department of Revenue, IRS and TNSBDC representatives.
Financing a Business
Finding and securing fnancing for startup and beginning operational expenses is just one aspect of
overall fnancial management for small business owners, but it is critical to their ultimate success.
Small business owners should investigate a number of options before they make their fnal decision
by listing the pros and cons of each type of fnancing. Taking time to make the best long-term
decisions will contribute to the sustainability and success of the business. Topics for this section can
include sources of capital, preparation of a loan application and available assistance.
Contacts for this area include local lending institutions, representatives from Tennessee Department
of Economic and Community Development (TNECD), SBA, TNSBDC, SCORE and the local Chamber
of Commerce.
Personnel Management
As we have heard, a business is only as good
as the people in it. A small business owner
must take the time to locate and hire the
right employees. Productive employees are
a vital key to a small business’s success.
Detailed and well-structured training is
vital to establish and maintain employee
productivity and satisfaction.
Contacts for this section, such as a human
resource manager, local private business
owner or Extension personnel can speak
about hiring, training and retaining
employees; additional costs associated
with employees; and how to properly hire and fre employees. A local insurance agent can also
be contacted to speak about insurance policies and coordinating benefts for the small business
owner’s employees.
Rol e of t he Faci l i t at or
As with many “resource development” Extension activities, the role of the Extension agent starts
with facilitation and logistics, but may also include content delivery and follow-up. The following are
some ‘best practices’ that have surfaced over the years.
Program Name
q There are a variety of ways to name this
program in different areas. For example,
Small Business Seminar (single class),
Small Business Series (periodic offerings)
and Small Business College (set time
frame).
Secure a Location location
q Choose a location with good accessibility
and high-speed Internet capabilities. It
is also helpful if the location is conducive
to breaking the participants into small
groups for specifc exercises.
5
Set time frame
q Select a time frame that best fts the needs of the participants.
q This program may be set up in a variety of ways, such as one meeting per week, multiple
nights/days weekly, or an all-day or weekend workshop.
q Night meetings tend to work better with this audience, since potential participants are
usually operating their businesses during daytime hours.
q Allow enough time for presentations and questions following the presentation. It is typically
recommended that a total of two hours be allotted per section.
Confrm presenters
q Bring in the ‘best’ and try to use local or regional presenters. These are the people who will
be interfacing with the participants afterward.
q Contact and confrm presenters by phone or email to see if they have any special technical
needs for their presentation.
Obtain sponsorship
q Seek sponsorship to cover travel, supplies, additional materials, copying, meals and other
expenses from local cooperatives (including public utilities), private industries, lending
institutions, government grants, Chambers of Commerce and local economic development
funds.
q Place sponsors’ logos on brochures, printed materials, websites and other marketing
materials.
q Keep in mind that ‘sponsorship’ comes in many forms, including volunteer time. Make
certain that all sponsors, including mentors and volunteers, are recognized and thanked in a
meaningful way.
Market or publicize program
q The program can be marketed on local television or radio stations, in the local newspaper
business section or Extension column, the county Extension website, social media, email
blasts and/or fyers displayed at area public gathering locations.
q Collaborate with partners/sponsors (e.g., local Chamber of Commerce, economic
development council, small business development center, etc.) to publicize the program at
their meetings, on their websites or in their email blasts.
Create a participant notebook
q Be sure to provide a meeting schedule, class syllabus, notepad, pen and other meeting
materials participants may need.
q Include dividers for each class section’s handout materials.
q Include contact information for all participants, presenters, partners and sponsors (if
permission to share this information is given). Also, include contact information for agencies,
departments, institutions and associations that could play a role in participants successfully
starting their own business.
Charge for the program
q Charge a nominal fee to attend the program. Prices may vary depending on the size of class,
location and overall cost after sponsorships.
q Do not set the fee too low so participants feel they are not going to be getting high-quality
information. Just as important, do not charge too high a price so participants are deterred by
the cost of the program.
q Offer reduced rates for business partners who wish to share materials.
Set class size limit
q Setting a participant limit size sends a message to participants that they need to sign up
early to guarantee their seat for the program.
q Smaller class sizes can promote greater learning and discussion.
q Limited class size may also promote need for future programs.
6
Establish an attendance policy
q Set up an attendance policy for participants. The number of classes will determine how many
sessions participants must attend. As most participants may have outside employment and
scheduling conficts due to family or work, having the participants attend a minimum of 80
percent of the seminars seems to work. Some have found success reimbursing the fee to
those with perfect attendance.
q Establish the attendance policy in writing on the participant application/registration. It is
often helpful to have participants read and sign a separate “attendance contract” so that the
policy is understood.
q Place a copy of the policy in the syllabus and announce it at the frst meeting.
q Remain faithful to the policy.
Prepare/plan/organize and host a graduation ceremony
q Give special recognition to those with perfect attendance by recognizing those individuals
who have adhered to the attendance policy.
q Give a certifcate of completion for participants to display in their small business. They may
also want to place a copy in their business plan.
q The graduation ceremony should be positive and motivational.
q The ceremony should strive to celebrate achievement, yet remain simple.
q It is meaningful to the participants if an entity that has a vested interest in local
economic development (such as a bank or Chamber of Commerce) sponsors a meal and
a representative from that entity talks about the importance of small businesses to the
community.
How t o mar ket t he event t o ent r epr eneur s / pot ent i al ent r epr eneur s
Marketing will vary depending on the size of community the program is offered in and the amount
of funds available. Newspaper advertisements, radio spots and local television commercials are
traditional ways to market to clientele, while email blasts and social media are other ways to reach
the interested audiences. Networking with local Chamber of Commerce leaders, civic organizations
and economic development committees will also be a benefcial way to market the program to
current and potential entrepreneurs.
Remember that aspiring entrepreneurs often have challenging schedules and may access a
wide range of information outlets. Keep the messaging realistic and succinct. Make sure that
the message originates from respected sources and be sure to emphasize the educational and
networking components of the training program.
Resour ces
There are many resources that can be used to supplement your small business offerings and most
are found conveniently online. Some of the best include:
5
Cent er f or Rur al Ent r epr eneur shi p
(http://www.energizingentrepreneurs.org)
A nationally recognized leader in entrepreneurship development, the Center’s mission is to be the
national, value-added resource for rural communities, regions and states interested in building
more sustainable economic development frameworks around entrepreneurship. The Center offers
guidance on a variety of topics through its online portal and fee-based programming (“Energizing
Entrepreneurs”) that can be done face-to-face or via webinar. Their “Resource Library” is flled with
tools and information that can greatly enhance community- and entrepreneur-level support efforts.
7
Cashi ng i n on Busi ness Oppor t uni t i es
(http://srdc.msstate.edu/cashing/)
This online curriculum recognizes that becoming a successful entrepreneur requires nearly equal
parts ambition, dedication and knowledge. With this complete, research-based curriculum, you can
fll in gaps that may exist in your agenda, provide a foundation for your scheduled speaker or refer
to the materials so participants can take a more in-depth look at topics of particular interest.
Lessons i ncl ude:
Part One: Sharpen Your Entrepreneurial Skills Part Three: Plan as You Expand
Assessing Self-Employment for Success Targeting New Markets
Spotting Opportunities among Scams Your Online Presence
Working and Living in the Same Space Incorporating Social Media into Your
Developing Time-Management Tactics Marketing Plan
Professionalism Pays Keeping Tabs on Cash
Recruiting, Training and Motivating
Employees
Insuring against Catastrophes
Part Two: Get Down to Business Part Four: Boost Your Bottom Line
Writing a Business Plan Calculating Financial Ratios
Setting the Right Price Getting Your Just Deductions
Choosing the Best Business Structure Searching for Capital
Adhering to Regulatory Requirements
Managing Inventory
Deciding on a Distribution Channel
Cr eat i ng a Rur al Ent r epr eneur i al Syst em i n Tennessee
(http://trend.ag.utk.edu/crest.html)
Some say “it takes a village to raise a child.” In the same sense, it takes a community to foster
entrepreneur-led development. Creating a Rural Entrepreneurial System in Tennessee (CREST)
seeks to assist targeted rural communities in Tennessee in transforming their local economies
through the development of key components required for entrepreneurship and small business
development. CREST achieves this goal through its key objectives:
§ Assist the community in understanding the impact and importance of small business
development.
§ Identify components that should be in place in the community to support small business
development and entrepreneurship.
§ Help the community develop an effective organization that will focus on small business
and entrepreneurship development locally.
§ Assist the community in an asset-based strategic planning process that identifes the
existing ESBD assets and weaknesses in the community.
§ Help the community identify projects that can be undertaken to build community capacity
for small business development.
§ Work with the community to prioritize potential projects, choose a project that builds
upon local and regional assets and successfully implement the project.
As of July 2011, CREST has been piloted in eight rural Tennessee communities. Currently, a
CREST facilitator’s guide and online learning modules are being developed and will be deployed
in early 2012.
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9
Nat i onal e-Commer ce Ext ensi on I ni t i at i ve
(http://srdc.msstate.edu/ecommerce/)
The National e-Commerce Extension Initiative features interactive online learning modules and
“turn-key” curricula that can be readily deployed in your community. The Initiative’s “Learning
Center” provides e-commerce resources for entrepreneurs, small business owners, Extension
educators, community development professionals and group leaders. With presentations, speaker
notes and facilitators guides, the Initiative offers an interesting variety of training opportunities to
consider. In addition, the program’s website offers a library of additional resources and a “Tutorials”
section for greater explanation on website design and function.
TVA’s “Consumer Connect i ons”
(http://www.tvaed.com/consumer_connect.htm)
The Consumer Connection is an economic development program that TVA developed to link
communities with business opportunities, as well as foster business retention and expansion. Since
the program is designed to help community leaders understand retail development and retention,
this program can play an important role in identifying potential entrepreneurship options. At a
community level, potential outcomes include expanding the local tax and revenue base, enhancing
property values, supporting job growth and enhancing local capital investment.
Ot her Resour ces
In addition to these resources, each community or region likely has a wide variety of
entrepreneurial assets that can be used effectively in an effort to enhance participant learning and
success. These resources are typically grouped into individuals and associations/institutions.
Individuals who are often asked to present in support of this type of programming include
professionals in the felds of accounting, law, public relations, fnance, education, government,
economic development and community service. Tapping local resources provides the opportunity
to build the ‘bridging’ social capital that is critical to the success of building a productive and
sustainable system of support for entrepreneurship. That said, one must keep in mind that there
may be several equally qualifed and willing individuals who could participate. Rather than showing
favoritism, organizers should strive to provide opportunities for these professionals to participate as
speakers and/or mentors to the participants as they go through the business planning process.
Also, keep in mind that even though someone may be employed in a feld listed above, he or she
should have experience directly related to small business development and be willing to recognize
other options that may exist in the community rather than simply using this as a means of
generating business. Lastly, and perhaps most importantly, local entrepreneurs should be included
as panelists, presenters and/or mentors. Peer-to-peer learning can pay dividends and enhance the
success of the business development efforts.
Institutions and associations that support entrepreneurship are scattered across Tennessee,
but tend to aggregate in metropolitan areas. A short list of such groups can be found in Table
1. It is important to note that most, if not all, community colleges and other institutions of
higher education have entrepreneurship classes, centers and/or faculty who can assist with
entrepreneurship support efforts. In addition, the Tennessee Technology Center system is an
excellent source of participants, information/training resources and a potential programming venue.
Concl usi ons
The purpose of small business seminars is to provide the tools and information needed for
potential and/or current small business owners to set up or maintain a successful small enterprise.
Small businesses make up an important part of the economic infrastructure in Tennessee. Many
individuals are seeking to own and operate their own businesses and need the proper resources
to succeed. The educator and/or facilitator will need suffcient time and willing collaborators
to develop and maintain successful small business seminars. With these elements in place,
the seminars’ results will not only be benefcial to participants, but the impacts on Tennessee
communities and counties, regardless of size, are limitless.
10
Sampl e Budget
Every event should take on a ‘local favor’ and be conducted using methods that are appropriate
for the clientele. The table below provides some general budget categories that are often
encountered when executing this type of educational program. Extra spaces are provided if there
are additional costs. Historically, programs run by Extension have attracted between 15–25
participants per offering and costs can run between $500 to $2000 for the entire series depending
on food, equipment, materials, etc. Since this topic offers an excellent opportunity for fee-based
programming, be prepared to cover costs and ensure that the quality of the program measures up
to the price. If the program is underwritten (sponsored) by a grant or local organization/institution,
then the fee can be used for revenue generation to fund future programming, or as an incentive for
participants as their ‘perfect’ attendance could warrant a complete refund.
Item Cost Item Cost
Materials Lessons
Copies Projector
Binders Screen
USB fash drive Room rental
Notepads
Marketing Lesson Archive
Daily/weekly newspaper
advertising
Website updates
Radio advertising Video/Web camera
Email blasts Webinar software
Newsletter Microphone
Food Acknowledgements
Snacks Graduation certifcates
Graduation reception Speaker gifts/fees
Lender’s luncheon
Eval uat i ng t he Pr ogr am
At the conclusion of the Small Business Seminar, participants should have a working knowledge of,
but not limited to, the following:
§ The skills needed to develop a business plan.
§ Improved record keeping systems.
§ Financial management skills and basic knowledge on marketing, accounting and
computer programs.
§ An understanding of various business functions and practices and their impact on the
successful operation of a business.
§ The impact of business decisions on the external environment.
A post-evaluation has been developed to assist in determining if these outcomes were met during
the Small Business Seminar.
The post-evaluation should be administered at the end of the fnal class section. Participants should
complete and turn in the evaluation before receiving a certifcate of completion.
11
No Knowledge
(1)
Some
Knowledge
(2)
Profcient
(3)
Expert
(4)
Writing a business plan
Acquiring funding for a
small business
Hiring employees
Locating a local resource
for assistance with a small
business
Local business compliance
issues
Business marketing
Pr e/ post Par t i ci pant Sur veys
Pl ease r at e your cur r ent l evel of knowl edge i n t he f ol l owi ng ar eas:
( Do not f i l l i n al l t he number s! Al l ow par t i ci pant s t o f i l l i n t he char t ! )
Please feel free to share your thoughts concerning your expectations about this series of classes.
_______________________________________________________________________________
_______________________________________________________________________________
_______________________________________________________________________________
12
Post Par t i ci pant Eval uat i on
Your responses will be helpful in evaluating this Small Business Series and improving future
programs. Please read and respond to all items. Thank you for your help with this evaluation!
For each item listed below, circle the number that corresponds with your knowledge
after completing this program. (1 is the lowest and 5 is the highest.)
Because of my
participation in this
seminar, I have a better
understanding of.....
Lowest
amount of
knowledge
gained
Highest
amount of
knowledge
gained
The different types of taxes
associated with opening
and running a small
business.
1 2 3 4 5
How to write a successful
business plan.
1 2 3 4 5
How to apply for small
business loans.
1 2 3 4 5
How to establish and
maintain a website and
use social media such as
Facebook.
1 2 3 4 5
How to market and
promote a small business.
1 2 3 4 5
What other topics would you like to be discussed in future programs? _______________________
_______________________________________________________________________________
_______________________________________________________________________________
PLEASE TURN OVER TO COMPLETE SURVEY.
13
Please place an (X) in the appropriate column in response to each of the following items:
How would you rate the program overall?
1 2 3 4 5 (1 being the lowest and 5 being the highest)
ADDITIONAL COMMENTS/SUGGESTIONS:
_______________________________________________________________________________
_______________________________________________________________________________
_______________________________________________________________________________
_______________________________________________________________________________
_______________________________________________________________________________
Thank You!
NOTES:
______________________________________
Because of my
participation in this
program…..
Strongly
Disagree
Disagree
Neither
Agree nor
Disagree
Agree
Strongly
Agree
I found the information
presented to be useful.
I found the instructional
techniques and materials
helpful in teaching the
material.
I found the program
presentations to be very
high-quality.
I plan to use this
information and adopt or
make changes in my role
as a small business owner
or someone thinking
about starting a small
business.
I think I have increased
my knowledge about the
tools needed to start a
small business.
I would recommend this
seminar to others if it
were to be offered again.
14
Ref er ences
1
U.S. Census. 2011. County Business Patterns. Online. Accessed February 22, 2011. Available at:http://www.census.gov/econ/cbp/index.html. For data on your county, you can use the same site
and fnd information on the number, size and revenue generated by businesses with employees by
sector at the state and county level from 1998 to approximately three years prior to the present.
Earlier data can be found but business sectors are classifed using the old Standard Industrial
Classifcation (SIC Code) system.
2
For data on the self-employed (nonemployer) in Tennessee you can use the U.S. Census Bureau’s
Nonemployer Statistics (http://www.census.gov/econ/nonemployer/index.html). The U.S. Bureau
of Economic Analysis’ Regional Economic Information System (http://www.bea.gov/regional/reis/)
use Table CA25N - Total full-time and part-time employment by NAICS industry) also has data on
the self-employed (“Proprietor”) but the two sources are not directly comparable due to differences
in how self-employment is defned and counted. In the text, we refer to BEA data, as they include
farmers.
3
For more information about and examples of Entrepreneur Clubs and Networks please see:
the Entrepreneur Center in Nashville, TN (http://entrepreneurcenter.com/) and the Wisconsin
Entrepreneur Network (http://www.wenportal.org) with their searchable Entrepreneurship Club
database (http://www.wenportal.org/ProviderLocator/Peer-to-PeerLearning.htm). Also, Green,
Wise and Armstrong (2007) provide some interesting insights in their conference paper entitled,
“Inventor & Entrepreneur Clubs: Investment in an Innovative Approach to Entrepreneurship.”
Available online at:http://www.ssu.missouri.edu/agecon/mccel/materials/green-wise.pdf.
4
See the CREST website (http://trend.ag.utk.edu/crest.html) for general information and
Dr. Bo Beaulieu’s webinar on asset mapping for entrepreneurship. Also, the Center for Rural
Entrepreneurship is an excellent source for assessment tools (http://www.energizingentrepreneurs.
org/site/index.php?option=com_content&view=article&id=21&Itemid=36).
5
Some of the material in this section has been adapted with permission from: Wilcox, M.D. and
D.M. Lambert. 2009. “Entrepreneurship in Tennessee: Striving for Success: A Baseline Analysis.”http://trend.ag.utk.edu/entrepreneurship/EntrepreneurshipFinalReport11_18_08.pdf.
W263 12/11 12-0054
Programs in agriculture and natural resources, 4-H youth development, family and consumer sciences, and resource development.
University of Tennessee Institute of Agriculture, U.S. Department of Agriculture and county governments cooperating.
UT Extension provides equal opportunities in programs and employment.
Funding for this work was provided by:http://trend.ag.utk.edu/crest.html
doc_580038584.pdf
A first step that a community can take to improve its small business sector is to offer small business seminars.
I nt r oduct i on: I mpor t ance of
Smal l Busi ness
Small businesses are a vital part of any
community, whether in a rural or urban
setting. In fact, 94 percent of employers
in Tennessee have less than 50 employees
(and 70 percent have less than 10).
1
In
addition to these small business employers,
Tennessee is home to more than 870,000
self-employed individuals (representing
23 percent of all jobs, including more than
71,000 farmers).
2
Given these facts, it is no
surprise that communities across Tennessee
have people who are, have been or want
to be engaged in owning/operating a small
business. However, despite the broad array of available resources, these current or potential
business owners are not always able to fnd what or who they need to help them be successful.
A frst step that a community can take to improve its small business sector is to offer small
business seminars. The goal of these seminars should be to give individuals the tools and
knowledge needed to successfully start up or expand a small business in the community.
Why Conduct Smal l Busi ness Semi nar s?
The reasons to host a small business seminar series will vary by community and by business owner.
There is defnitely no “one-size-fts-all” model/structure. Therefore, tailoring the series to local
needs is best. Some examples of why a seminar series may make sense for a community include:
§ Sector-specifc needs (e.g., agriculture, retail, arts/crafts, home-based business, etc.)
§ Chamber of Commerce membership cultivation
§ Youth entrepreneurship
§ Creating ‘buy-in’ and a foundation for entrepreneur-led economic development
In addition, such efforts are a good way to complement regional offerings (e.g., Small Business
Development Centers, etc.) by tailoring the training to meet specifc local needs. These seminars
can also serve as an excellent way to foster collaboration among technical service providers. This
is the critical frst step towards building a robust, community-level entrepreneurial system that
is easily navigable for aspiring and current small business owners. Lastly, since these seminars
are targeted at small business owners and entrepreneurs, a successful series can lead to the
development of entrepreneurship clubs or other forums through which people can network with one
another during the seminars and afterwards as ‘alumni’.
3
SMALL BUSI NESS SEMI NARS
Promoting Economic Development through a Community of Support for Small Business
Amanda Mathenia, UT Extension Decatur/Perry counties; Dr. Michael Wilcox, Assistant Professor,
Agricultural & Resource Economics; Creig Kimbro, UT Extension Grundy County; Dr. Alan Barefeld,
Extension Professor, Agricultural Economics, Mississippi State University
W263
2
Cur r i cul a and Topi c Desi gn
Extension has a long history working with small businesses from many different sectors using
the “seminar series” or “small business college” model. Experience has shown that the following
are the most sought-after topics of discussion for people interested in starting their own small
business. This fact sheet is meant to be a guide to help set up a small business seminar. As with
all programming, a community (or “needs”) assessment should determine if these topics ft the
needs of a community or if additional topics should be addressed. The assessment should take a
community-based approach and focus on the community’s assets.
4
Community Assessment for Small Businesses
Every potential small business owner should understand the situation and dynamics of his or her
market and location. This section will cover basic community demographics, offer general (and/or
sector-specifc) community economic and trade area analysis. It is important that individuals study
their market carefully and consider the areas in which their competitors are already frmly situated.
Often, small business owners must take into account specifc information about their location
(e.g., zoning, parking, etc.), location of competitors and traffc fow of surrounding areas. It is also
necessary to characterize or analyze the economic situation of the community in which they plan to
open their business.
Contacts for this area include Extension specialists, local economic development council/agency,
Chamber of Commerce, local tourism director, Small Business Administration (SBA)http://www.sba.gov/ representatives, Tennessee Small Business Development Centers (TNSBDC)http://www.tsbdc.org/, Center for Proftable Agriculture (CfPA)http://cpa.utk.edu/, Tennessee
Valley Authority (TVA)http://www.tva.gov/ and Labor and Workforce Development (LWFD)http://www.tn.gov/labor-wfd/.
Business Plan
In the overwhelming majority of cases, business plans play an important part in the success and
future of a small business. Each small business owner should have a business plan in place before
fnal considerations are made to open the business. The importance of a comprehensive, thoughtful
business plan cannot be overemphasized. Some of the topics that should be considered include:
outside funding; credit from suppliers; management of the operation; fnances, promotion and
marketing of the business; and realizing the owner’s goals and objectives – including the life-cycle
of the business. Discussion includes starting a business, the importance of a business plan and
business plan preparation. Many potential and even current small business owners are intimidated
by the very thought of outlining their business’ operations on paper. This session should have a
primary goal of alleviating those fears and convincing the participants that a business plan is an
exercise in thinking, not an exercise in writing.
Contacts for this area include Extension specialists, TNSBDC personnel and local lending
institutions. Representatives from the SCORE Association – a not-for-proft organization dedicated
to education and counseling of entrepreneurs, growing, solving challenges to their business or
forming new businesses, in the small business community – is another option.
3
Marketing
The most important consideration that a small business owner must face is “Will customers buy
the product or service that I am able or willing to provide?” Many owners/operators think their
marketing effort should consist solely of placing fyers under car windshields at the local shopping
center. However, marketing is much more than this type of advertising.
Marketing is taking the time to fgure out who your customers are and what you can do to convince
those people to purchase your product. Developing a marketing plan or strategy also enables the
small business owner/operator to identify the most effective means to reach these customers and
establish communication with them. The bottom line of marketing is to understand the customers’
needs and develop a plan that embraces those needs. Is it a product, good or service that is
marketable, or just something that seems like a great idea? Community assessment plays a major
role on the front end. However, careful planning, use of appropriate/effective technology and
execution of a robust strategy will determine success.
Extension specialists, the CfPA, the Chamber of Commerce, local public relations/advertising
agencies and local tourism councils are excellent sources to provide advertising, promotion and
marketing assistance.
Using a Web-based Social Network
In today’s world of “Likes” and “Tweets,” using a computer means much more than maintaining
fnancial records or monitoring a production process. Small business owners may need to be on
top of the latest social media trends, such as Facebook™, Twitter™ and YouTube™ to be successful
and in touch with younger, as well as more established audiences; all are part of an overall
marketing strategy. Tweeting has become a very inexpensive way for small business owners to
advertise the latest promotions within the store. Setting up a Facebook page can offer a free way
to get the name of the small business into the consciousness of a more modern, more technology-
driven society. One “Like” can lead to a whole string of “Fans” and this can lead to an expanded
customer base. Website development is another important basic to the success of a small business.
In today’s web-savvy world, an impressive, up-to-date website can make or break sales. In this
section, it is important to focus on website development and maintenance, specialized computer
uses and the use of social media.
Contacts for this area can be Extension personnel, local website developers, public relations/
communications experts and local marketing specialists.
Accounting for Non-Accountants
Accounting is one of the most essential aspects of starting and operating a small business. It is
easy to get caught up in the exciting startup tasks of choosing a business name or picking out
equipment, yet without a solid understanding of the numbers, the business will not survive. Some
former business owners ignored the fnancial side of business only to discover too late they were
operating at a loss, not a proft.
For this section, it is advisable to recruit a Certifed Public Accountant (CPA) or TNSBDC
representative to present information on computerized record-keeping systems, budgeting, balance
sheets and proft-and-loss statements. In addition, the SBA has created very professional balance
sheets and proft-and-loss statement templates that can be used as guides for small business
owners to access when performing accounting basics. UT Extension’s area farm management
specialists are also well equipped to offer training in this area, especially for those businesses in the
agricultural sector.
Taxes
New and long-time small business owners need to know their local, state and federal tax
responsibilities. It is important to the success of the business that owners pay only their fair share,
but that this fair share is paid. Topics include business tax, sales tax, use tax, local option tax rate,
registration, tax classifcation and licensing.
4
Contacts for this section include Extension specialists; local tax preparers; local tax assessor’s
offce; local CPAs; TN Department of Revenue, IRS and TNSBDC representatives.
Financing a Business
Finding and securing fnancing for startup and beginning operational expenses is just one aspect of
overall fnancial management for small business owners, but it is critical to their ultimate success.
Small business owners should investigate a number of options before they make their fnal decision
by listing the pros and cons of each type of fnancing. Taking time to make the best long-term
decisions will contribute to the sustainability and success of the business. Topics for this section can
include sources of capital, preparation of a loan application and available assistance.
Contacts for this area include local lending institutions, representatives from Tennessee Department
of Economic and Community Development (TNECD), SBA, TNSBDC, SCORE and the local Chamber
of Commerce.
Personnel Management
As we have heard, a business is only as good
as the people in it. A small business owner
must take the time to locate and hire the
right employees. Productive employees are
a vital key to a small business’s success.
Detailed and well-structured training is
vital to establish and maintain employee
productivity and satisfaction.
Contacts for this section, such as a human
resource manager, local private business
owner or Extension personnel can speak
about hiring, training and retaining
employees; additional costs associated
with employees; and how to properly hire and fre employees. A local insurance agent can also
be contacted to speak about insurance policies and coordinating benefts for the small business
owner’s employees.
Rol e of t he Faci l i t at or
As with many “resource development” Extension activities, the role of the Extension agent starts
with facilitation and logistics, but may also include content delivery and follow-up. The following are
some ‘best practices’ that have surfaced over the years.
Program Name
q There are a variety of ways to name this
program in different areas. For example,
Small Business Seminar (single class),
Small Business Series (periodic offerings)
and Small Business College (set time
frame).
Secure a Location location
q Choose a location with good accessibility
and high-speed Internet capabilities. It
is also helpful if the location is conducive
to breaking the participants into small
groups for specifc exercises.
5
Set time frame
q Select a time frame that best fts the needs of the participants.
q This program may be set up in a variety of ways, such as one meeting per week, multiple
nights/days weekly, or an all-day or weekend workshop.
q Night meetings tend to work better with this audience, since potential participants are
usually operating their businesses during daytime hours.
q Allow enough time for presentations and questions following the presentation. It is typically
recommended that a total of two hours be allotted per section.
Confrm presenters
q Bring in the ‘best’ and try to use local or regional presenters. These are the people who will
be interfacing with the participants afterward.
q Contact and confrm presenters by phone or email to see if they have any special technical
needs for their presentation.
Obtain sponsorship
q Seek sponsorship to cover travel, supplies, additional materials, copying, meals and other
expenses from local cooperatives (including public utilities), private industries, lending
institutions, government grants, Chambers of Commerce and local economic development
funds.
q Place sponsors’ logos on brochures, printed materials, websites and other marketing
materials.
q Keep in mind that ‘sponsorship’ comes in many forms, including volunteer time. Make
certain that all sponsors, including mentors and volunteers, are recognized and thanked in a
meaningful way.
Market or publicize program
q The program can be marketed on local television or radio stations, in the local newspaper
business section or Extension column, the county Extension website, social media, email
blasts and/or fyers displayed at area public gathering locations.
q Collaborate with partners/sponsors (e.g., local Chamber of Commerce, economic
development council, small business development center, etc.) to publicize the program at
their meetings, on their websites or in their email blasts.
Create a participant notebook
q Be sure to provide a meeting schedule, class syllabus, notepad, pen and other meeting
materials participants may need.
q Include dividers for each class section’s handout materials.
q Include contact information for all participants, presenters, partners and sponsors (if
permission to share this information is given). Also, include contact information for agencies,
departments, institutions and associations that could play a role in participants successfully
starting their own business.
Charge for the program
q Charge a nominal fee to attend the program. Prices may vary depending on the size of class,
location and overall cost after sponsorships.
q Do not set the fee too low so participants feel they are not going to be getting high-quality
information. Just as important, do not charge too high a price so participants are deterred by
the cost of the program.
q Offer reduced rates for business partners who wish to share materials.
Set class size limit
q Setting a participant limit size sends a message to participants that they need to sign up
early to guarantee their seat for the program.
q Smaller class sizes can promote greater learning and discussion.
q Limited class size may also promote need for future programs.
6
Establish an attendance policy
q Set up an attendance policy for participants. The number of classes will determine how many
sessions participants must attend. As most participants may have outside employment and
scheduling conficts due to family or work, having the participants attend a minimum of 80
percent of the seminars seems to work. Some have found success reimbursing the fee to
those with perfect attendance.
q Establish the attendance policy in writing on the participant application/registration. It is
often helpful to have participants read and sign a separate “attendance contract” so that the
policy is understood.
q Place a copy of the policy in the syllabus and announce it at the frst meeting.
q Remain faithful to the policy.
Prepare/plan/organize and host a graduation ceremony
q Give special recognition to those with perfect attendance by recognizing those individuals
who have adhered to the attendance policy.
q Give a certifcate of completion for participants to display in their small business. They may
also want to place a copy in their business plan.
q The graduation ceremony should be positive and motivational.
q The ceremony should strive to celebrate achievement, yet remain simple.
q It is meaningful to the participants if an entity that has a vested interest in local
economic development (such as a bank or Chamber of Commerce) sponsors a meal and
a representative from that entity talks about the importance of small businesses to the
community.
How t o mar ket t he event t o ent r epr eneur s / pot ent i al ent r epr eneur s
Marketing will vary depending on the size of community the program is offered in and the amount
of funds available. Newspaper advertisements, radio spots and local television commercials are
traditional ways to market to clientele, while email blasts and social media are other ways to reach
the interested audiences. Networking with local Chamber of Commerce leaders, civic organizations
and economic development committees will also be a benefcial way to market the program to
current and potential entrepreneurs.
Remember that aspiring entrepreneurs often have challenging schedules and may access a
wide range of information outlets. Keep the messaging realistic and succinct. Make sure that
the message originates from respected sources and be sure to emphasize the educational and
networking components of the training program.
Resour ces
There are many resources that can be used to supplement your small business offerings and most
are found conveniently online. Some of the best include:
5
Cent er f or Rur al Ent r epr eneur shi p
(http://www.energizingentrepreneurs.org)
A nationally recognized leader in entrepreneurship development, the Center’s mission is to be the
national, value-added resource for rural communities, regions and states interested in building
more sustainable economic development frameworks around entrepreneurship. The Center offers
guidance on a variety of topics through its online portal and fee-based programming (“Energizing
Entrepreneurs”) that can be done face-to-face or via webinar. Their “Resource Library” is flled with
tools and information that can greatly enhance community- and entrepreneur-level support efforts.
7
Cashi ng i n on Busi ness Oppor t uni t i es
(http://srdc.msstate.edu/cashing/)
This online curriculum recognizes that becoming a successful entrepreneur requires nearly equal
parts ambition, dedication and knowledge. With this complete, research-based curriculum, you can
fll in gaps that may exist in your agenda, provide a foundation for your scheduled speaker or refer
to the materials so participants can take a more in-depth look at topics of particular interest.
Lessons i ncl ude:
Part One: Sharpen Your Entrepreneurial Skills Part Three: Plan as You Expand
Assessing Self-Employment for Success Targeting New Markets
Spotting Opportunities among Scams Your Online Presence
Working and Living in the Same Space Incorporating Social Media into Your
Developing Time-Management Tactics Marketing Plan
Professionalism Pays Keeping Tabs on Cash
Recruiting, Training and Motivating
Employees
Insuring against Catastrophes
Part Two: Get Down to Business Part Four: Boost Your Bottom Line
Writing a Business Plan Calculating Financial Ratios
Setting the Right Price Getting Your Just Deductions
Choosing the Best Business Structure Searching for Capital
Adhering to Regulatory Requirements
Managing Inventory
Deciding on a Distribution Channel
Cr eat i ng a Rur al Ent r epr eneur i al Syst em i n Tennessee
(http://trend.ag.utk.edu/crest.html)
Some say “it takes a village to raise a child.” In the same sense, it takes a community to foster
entrepreneur-led development. Creating a Rural Entrepreneurial System in Tennessee (CREST)
seeks to assist targeted rural communities in Tennessee in transforming their local economies
through the development of key components required for entrepreneurship and small business
development. CREST achieves this goal through its key objectives:
§ Assist the community in understanding the impact and importance of small business
development.
§ Identify components that should be in place in the community to support small business
development and entrepreneurship.
§ Help the community develop an effective organization that will focus on small business
and entrepreneurship development locally.
§ Assist the community in an asset-based strategic planning process that identifes the
existing ESBD assets and weaknesses in the community.
§ Help the community identify projects that can be undertaken to build community capacity
for small business development.
§ Work with the community to prioritize potential projects, choose a project that builds
upon local and regional assets and successfully implement the project.
As of July 2011, CREST has been piloted in eight rural Tennessee communities. Currently, a
CREST facilitator’s guide and online learning modules are being developed and will be deployed
in early 2012.
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9
Nat i onal e-Commer ce Ext ensi on I ni t i at i ve
(http://srdc.msstate.edu/ecommerce/)
The National e-Commerce Extension Initiative features interactive online learning modules and
“turn-key” curricula that can be readily deployed in your community. The Initiative’s “Learning
Center” provides e-commerce resources for entrepreneurs, small business owners, Extension
educators, community development professionals and group leaders. With presentations, speaker
notes and facilitators guides, the Initiative offers an interesting variety of training opportunities to
consider. In addition, the program’s website offers a library of additional resources and a “Tutorials”
section for greater explanation on website design and function.
TVA’s “Consumer Connect i ons”
(http://www.tvaed.com/consumer_connect.htm)
The Consumer Connection is an economic development program that TVA developed to link
communities with business opportunities, as well as foster business retention and expansion. Since
the program is designed to help community leaders understand retail development and retention,
this program can play an important role in identifying potential entrepreneurship options. At a
community level, potential outcomes include expanding the local tax and revenue base, enhancing
property values, supporting job growth and enhancing local capital investment.
Ot her Resour ces
In addition to these resources, each community or region likely has a wide variety of
entrepreneurial assets that can be used effectively in an effort to enhance participant learning and
success. These resources are typically grouped into individuals and associations/institutions.
Individuals who are often asked to present in support of this type of programming include
professionals in the felds of accounting, law, public relations, fnance, education, government,
economic development and community service. Tapping local resources provides the opportunity
to build the ‘bridging’ social capital that is critical to the success of building a productive and
sustainable system of support for entrepreneurship. That said, one must keep in mind that there
may be several equally qualifed and willing individuals who could participate. Rather than showing
favoritism, organizers should strive to provide opportunities for these professionals to participate as
speakers and/or mentors to the participants as they go through the business planning process.
Also, keep in mind that even though someone may be employed in a feld listed above, he or she
should have experience directly related to small business development and be willing to recognize
other options that may exist in the community rather than simply using this as a means of
generating business. Lastly, and perhaps most importantly, local entrepreneurs should be included
as panelists, presenters and/or mentors. Peer-to-peer learning can pay dividends and enhance the
success of the business development efforts.
Institutions and associations that support entrepreneurship are scattered across Tennessee,
but tend to aggregate in metropolitan areas. A short list of such groups can be found in Table
1. It is important to note that most, if not all, community colleges and other institutions of
higher education have entrepreneurship classes, centers and/or faculty who can assist with
entrepreneurship support efforts. In addition, the Tennessee Technology Center system is an
excellent source of participants, information/training resources and a potential programming venue.
Concl usi ons
The purpose of small business seminars is to provide the tools and information needed for
potential and/or current small business owners to set up or maintain a successful small enterprise.
Small businesses make up an important part of the economic infrastructure in Tennessee. Many
individuals are seeking to own and operate their own businesses and need the proper resources
to succeed. The educator and/or facilitator will need suffcient time and willing collaborators
to develop and maintain successful small business seminars. With these elements in place,
the seminars’ results will not only be benefcial to participants, but the impacts on Tennessee
communities and counties, regardless of size, are limitless.
10
Sampl e Budget
Every event should take on a ‘local favor’ and be conducted using methods that are appropriate
for the clientele. The table below provides some general budget categories that are often
encountered when executing this type of educational program. Extra spaces are provided if there
are additional costs. Historically, programs run by Extension have attracted between 15–25
participants per offering and costs can run between $500 to $2000 for the entire series depending
on food, equipment, materials, etc. Since this topic offers an excellent opportunity for fee-based
programming, be prepared to cover costs and ensure that the quality of the program measures up
to the price. If the program is underwritten (sponsored) by a grant or local organization/institution,
then the fee can be used for revenue generation to fund future programming, or as an incentive for
participants as their ‘perfect’ attendance could warrant a complete refund.
Item Cost Item Cost
Materials Lessons
Copies Projector
Binders Screen
USB fash drive Room rental
Notepads
Marketing Lesson Archive
Daily/weekly newspaper
advertising
Website updates
Radio advertising Video/Web camera
Email blasts Webinar software
Newsletter Microphone
Food Acknowledgements
Snacks Graduation certifcates
Graduation reception Speaker gifts/fees
Lender’s luncheon
Eval uat i ng t he Pr ogr am
At the conclusion of the Small Business Seminar, participants should have a working knowledge of,
but not limited to, the following:
§ The skills needed to develop a business plan.
§ Improved record keeping systems.
§ Financial management skills and basic knowledge on marketing, accounting and
computer programs.
§ An understanding of various business functions and practices and their impact on the
successful operation of a business.
§ The impact of business decisions on the external environment.
A post-evaluation has been developed to assist in determining if these outcomes were met during
the Small Business Seminar.
The post-evaluation should be administered at the end of the fnal class section. Participants should
complete and turn in the evaluation before receiving a certifcate of completion.
11
No Knowledge
(1)
Some
Knowledge
(2)
Profcient
(3)
Expert
(4)
Writing a business plan
Acquiring funding for a
small business
Hiring employees
Locating a local resource
for assistance with a small
business
Local business compliance
issues
Business marketing
Pr e/ post Par t i ci pant Sur veys
Pl ease r at e your cur r ent l evel of knowl edge i n t he f ol l owi ng ar eas:
( Do not f i l l i n al l t he number s! Al l ow par t i ci pant s t o f i l l i n t he char t ! )
Please feel free to share your thoughts concerning your expectations about this series of classes.
_______________________________________________________________________________
_______________________________________________________________________________
_______________________________________________________________________________
12
Post Par t i ci pant Eval uat i on
Your responses will be helpful in evaluating this Small Business Series and improving future
programs. Please read and respond to all items. Thank you for your help with this evaluation!
For each item listed below, circle the number that corresponds with your knowledge
after completing this program. (1 is the lowest and 5 is the highest.)
Because of my
participation in this
seminar, I have a better
understanding of.....
Lowest
amount of
knowledge
gained
Highest
amount of
knowledge
gained
The different types of taxes
associated with opening
and running a small
business.
1 2 3 4 5
How to write a successful
business plan.
1 2 3 4 5
How to apply for small
business loans.
1 2 3 4 5
How to establish and
maintain a website and
use social media such as
Facebook.
1 2 3 4 5
How to market and
promote a small business.
1 2 3 4 5
What other topics would you like to be discussed in future programs? _______________________
_______________________________________________________________________________
_______________________________________________________________________________
PLEASE TURN OVER TO COMPLETE SURVEY.
13
Please place an (X) in the appropriate column in response to each of the following items:
How would you rate the program overall?
1 2 3 4 5 (1 being the lowest and 5 being the highest)
ADDITIONAL COMMENTS/SUGGESTIONS:
_______________________________________________________________________________
_______________________________________________________________________________
_______________________________________________________________________________
_______________________________________________________________________________
_______________________________________________________________________________
Thank You!
NOTES:
______________________________________
Because of my
participation in this
program…..
Strongly
Disagree
Disagree
Neither
Agree nor
Disagree
Agree
Strongly
Agree
I found the information
presented to be useful.
I found the instructional
techniques and materials
helpful in teaching the
material.
I found the program
presentations to be very
high-quality.
I plan to use this
information and adopt or
make changes in my role
as a small business owner
or someone thinking
about starting a small
business.
I think I have increased
my knowledge about the
tools needed to start a
small business.
I would recommend this
seminar to others if it
were to be offered again.
14
Ref er ences
1
U.S. Census. 2011. County Business Patterns. Online. Accessed February 22, 2011. Available at:http://www.census.gov/econ/cbp/index.html. For data on your county, you can use the same site
and fnd information on the number, size and revenue generated by businesses with employees by
sector at the state and county level from 1998 to approximately three years prior to the present.
Earlier data can be found but business sectors are classifed using the old Standard Industrial
Classifcation (SIC Code) system.
2
For data on the self-employed (nonemployer) in Tennessee you can use the U.S. Census Bureau’s
Nonemployer Statistics (http://www.census.gov/econ/nonemployer/index.html). The U.S. Bureau
of Economic Analysis’ Regional Economic Information System (http://www.bea.gov/regional/reis/)
use Table CA25N - Total full-time and part-time employment by NAICS industry) also has data on
the self-employed (“Proprietor”) but the two sources are not directly comparable due to differences
in how self-employment is defned and counted. In the text, we refer to BEA data, as they include
farmers.
3
For more information about and examples of Entrepreneur Clubs and Networks please see:
the Entrepreneur Center in Nashville, TN (http://entrepreneurcenter.com/) and the Wisconsin
Entrepreneur Network (http://www.wenportal.org) with their searchable Entrepreneurship Club
database (http://www.wenportal.org/ProviderLocator/Peer-to-PeerLearning.htm). Also, Green,
Wise and Armstrong (2007) provide some interesting insights in their conference paper entitled,
“Inventor & Entrepreneur Clubs: Investment in an Innovative Approach to Entrepreneurship.”
Available online at:http://www.ssu.missouri.edu/agecon/mccel/materials/green-wise.pdf.
4
See the CREST website (http://trend.ag.utk.edu/crest.html) for general information and
Dr. Bo Beaulieu’s webinar on asset mapping for entrepreneurship. Also, the Center for Rural
Entrepreneurship is an excellent source for assessment tools (http://www.energizingentrepreneurs.
org/site/index.php?option=com_content&view=article&id=21&Itemid=36).
5
Some of the material in this section has been adapted with permission from: Wilcox, M.D. and
D.M. Lambert. 2009. “Entrepreneurship in Tennessee: Striving for Success: A Baseline Analysis.”http://trend.ag.utk.edu/entrepreneurship/EntrepreneurshipFinalReport11_18_08.pdf.
W263 12/11 12-0054
Programs in agriculture and natural resources, 4-H youth development, family and consumer sciences, and resource development.
University of Tennessee Institute of Agriculture, U.S. Department of Agriculture and county governments cooperating.
UT Extension provides equal opportunities in programs and employment.
Funding for this work was provided by:http://trend.ag.utk.edu/crest.html
doc_580038584.pdf