Startup purchases that will save you money over the long haul

  • By creekmoremarketing
  • 31 Jul, 2015

Small business owners start their business with an average of $10,000, reports Wells Fargo. This money must support the business’s opening inventory, initial marketing and cover the supplies needed to open. While starting on such a small scale can be good for business as it allows you to make   rookie mistakes   when you don’t have a lot at stake, it can be stressful too. Take the path to success by investing your opening supplies budget on items that will serve you as you grow.

Starting off on the right foot

While some small business supplies do depend on your niche, many opening expenses are common across the board. Along with any specialized equipment or business licenses you may need, make your wish list by covering these bases:

  • Website   – A website is a must these days. Pay for your own domain at the outset, instead of using a free website service.
  • Marketing   – Business cards, brochures, postcards, direct mailing, paid advertising: All of these can help you spread the word about your business. Since you’ll want to have these materials on hand when you open, plan ahead and prepare to dedicate some of your opening budget to marketing.
  • Inventory management   – If you plan to open an e-commerce store, you’ll need equipment to manage your inventory. You may start by using a spreadsheet program, but you’ll also need to think about where you will store your inventory or whether you want to work with a fulfillment company. Unless you have a spare bedroom or garage, think critically about organization before you turn your home into a warehouse.
  • Office   – Perhaps you plan to work from home and use your personal laptop computer for the business. While that’s a fine place to start, consider what office equipment you’ll need. Find inexpensive, all-in-one printer/copier/scanner/fax machines at your local office supply store, and stock up on printer paper, general office supplies and storage units. During the early days of your business and throughout, being organized will help you grow.

Supplies you need

The above categories should help you brainstorm your supplies list. Don’t forget about these common items:

  • Packaging and shipping items   – packing tape, bubble wrap, air mailers and more. Buying in bulk is often cheaper than buying individually, so invest in these to start off without a headache.
  • Postage supplies   – Consider investing in small business   postage machines , which offer both built-in scales and metered postage. This way, you don’t need to go to the post office to pick up stamps or mail packages and mail won’t be returned due to insufficient postage.
  • Business boosting kit   – StartupNation recommends making small   business boosting kits   for your business. These may consist of brochures and sales specs if commerce is your main concern or press releases and media materials if you’re hoping to gain PR.

If your budget cannot cover all of the needed items, start with the most critical of these and purchase additional items as your budget allows. At the outset, expect to put much of your profit back into the business to grow your capacity.

Kevin Norvell, Web Project Manager

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By Robbi Meisel 18 Oct, 2016

LEXINGTON, Ky., (Oct. 18, 2016) –The Office of Veterans Business Development recognized Patricia Krausman, director of the Elizabethtown Small Business Development Center, as one of the six most outstanding instructors for the 2016 Boots 2 Business program.

Boots to Business is an entrepreneurial education and training program offered by the U.S. Small Business Administration. It is a training track within the U.S. Department of Defense’s Transition Assistance Program. The curriculum provides valuable assistance for transitioning service members who are exploring business ownership or other self-employment opportunities. The program leads them through the key steps for evaluating business concepts and providing the foundation required to develop a business plan. In addition, participants are introduced to Small Business Administration partners and resources.

The recognition was based on the instructors’ contributions and dedication to the program and to service members, veterans and spouses in their business ownership endeavors. Nominations for this achievement came from Small Business Administration offices across the country.

Krausman has provided business management consulting and training for more than 20 years. In 2009, she developed and served as the director of the Kentucky Small Business Development Center’s Veterans Assistance Program, the resource for veteran business support and advocacy. Additionally, she was chosen as A Veteran’s Small Business Advocate of the Year in 2013 by the Kentucky Small Business Administration. She takes an active role in her work and advocacy, serving as a member of the Kentucky Commission on Small Business Advocacy, the Lincoln Trail Workforce Development Board and the Governor’s Veterans Interagency Task Force. She was awarded the prestigious Kentucky Association for Economic Development Allied Professional of the Year in 2014.

“The Kentucky Small Business Development Center has a long-standing commitment to veterans and veteran-owned businesses. Boots 2 Business is a program specifically designed by the Small Business Administration and its resource partners to ensure that veterans have expert guidance and direction in their path to entrepreneurship,” Krausman said. “It’s an honor to be included in the recognition of outstanding instructors for the national SBA Boots 2 Business program. Veterans are exceptional entrepreneurs, and it is rewarding to have the opportunity to support them in their successful transition to small-business ownership.”

The Kentucky Small Business Development Center, part of the University of Kentucky College of Agriculture, Food and Environment, is a network of 13 offices located throughout the state. The center helps existing and start-up businesses succeed by offering high quality, in-depth and hands-on services. KSBDC is a partner program with the U.S. Small Business Administration. For more information on KSBDC services, visit their website, http://www.ksbdc.org/ .

 

Photo provided by the Kentucky Small Business Development Center –Patricia Krausman. ©KSBDC

 

Writer: Roberta Meisel , 859-257-7668

UK College of Agriculture, Food and Environment, through its land-grant mission, reaches across the commonwealth with teaching, research and extension to enhance the lives of Kentuckians.

 

By Robbi Meisel 14 Jun, 2016

LEXINGTON, Ky. – In anticipation of the many business opportunities that could stem from the construction of a new federal prison in Roxana, the Kentucky Small Business Development Center, in partnership with Letcher County Fiscal Court, is sponsoring When Opportunity Knocks, a luncheon and resource fair from 11 a.m. to 1 p.m. EDT June 22 at the Pine Mountain Grill in Whitesburg.

During lunch, local business owners will share how they answered the knock of opportunity and found success. The event is free and seating is limited; preregistration is required. Reservations can be made online at http://tinyurl.com/j9rdjtf .

At the event, organizers will discuss a three-part series of training events. Series topics will include general business and government contracting. The first event will take place 6 p.m. Tuesday, July 12 at the Whitesburg campus of Southeast Kentucky Community and Technical College. Training will also take place at 6 p.m. July 26 and August 9. Prior to each training event, a resource fair will begin at 4 p.m.

For more information, visit http://www.ksbdc.org/moving-forward-letcher-county or email Shawn Rogers at movingforwardletcher@ksbdc.org .

KSBDC, part of the University of Kentucky College of Agriculture, Food and Environment, is a network of 13 offices located throughout the state. The center helps existing and start-up businesses succeed by offering high quality, in-depth and hands-on services. KSBDC is a partner program with the U.S. Small Business Administration. For more information on KSBDC services, visit their website, http://www.ksbdc.org/ .

Other partners include: Kentucky Small Business Development Centers at Pikeville and Ashland, Southeast Small Business Development Center, Small Business Administration, Southeast Kentucky Community and Technical College, Kentucky Procurement Technical Assistance Center, Southeast Kentucky Economic Development, Kentucky Highlands Investment Corporation, Mountain Association for Community Economic Development, Kentucky Innovation Network – Pikeville , Kentucky River Area Development District, Eastern Kentucky Concentrated Employment Program, Federation of Appalachian Housing Enterprises Inc. and Kentucky Finance and Administration Cabinet – Minority and Women Business Enterprise Certification.

By Robbi Meisel 06 May, 2016

LEXINGTON, Ky., (May 3, 2016) - Kentucky’s finest small businesses and the small-business community were celebrated in the Capitol Rotunda in Frankfort during Kentucky Celebrates Small Business, an awards ceremony presented by the Kentucky Small Business Development Center and the Kentucky District Office of the U.S. Small Business Administration May 3.

Gov. Matt Bevin opened the awards ceremony by signing a proclamation recognizing National Small Business Week in the state.

"The vibrant entrepreneurial spirit in the commonwealth is a fundamental force driving Kentucky's economy and creating valuable jobs for our communities," Bevin said. "I understand, from personal experience, the sacrifice it takes for small business owners to survive. Every day they strive anew to secure a better life for their customers, their employees, their families and themselves. I am grateful to these men and women across Kentucky for taking the risk necessary to succeed."

WLEX-18 chief meteorologist Bill Meck served as emcee, along with his wife, Connie, whose small business, Sign Language Network of Kentucky, provided sign language interpretation for the event.

The Kentucky Small Business Development Center presented Kentucky Pacesetter awards to six businesses. Winners were chosen based on how they are changing Kentucky’s economic landscape by introducing innovative products, increasing sales and/or production, boosting employment and serving their communities.

This year’s outstanding Kentucky Pacesetters are D&D Shoe Company, Mayfield; Ingram Brothers, LLC, Morgantown; JSB Industrial Solutions, Inc., Tollesboro; Maynard Studios, Inc., Lawrenceburg; Trunnell’s Farm Market & Family Fun Acre, Utica; Flavorman and Distilled Spirits Epicenter, Louisville.

“We owe so much to the small businesses across the commonwealth that make our economy strong and diverse. It is a pleasure to recognize them and say thank you,” said Becky Naugle, KSBDC state director.

Each year, the U.S. Small Business Administration recognizes outstanding small businesses and entrepreneurs with awards across the country. The Small Business Person of the Year winner from each state will be acknowledged at both regional and national levels.

The 2016 Kentucky Small Business Administration award winners are:

Kentucky Small Business Person of the Year: David Dafoe, founder and CEO of Flavorman and Distilled Spirits Epicenter, Louisville

Kentucky Southeast Region 8(a) Graduate of the Year: Kathy Mills, president and CEO of Strategic Communications, Louisville

Kentucky Financial Services Advocate of the Year: Bill Fensterer, president and CEO of Capital Access Corporation, Louisville

Kentucky Minority-Owned Small Business of the Year: Harsha Wijesiri, president of Integrated Engineering, LLC, Lexington

Kentucky Veteran-Owned Small Business of the Year: Scott Matheny, president of Semper Tek, Lexington

Kentucky Woman-Owned Small Business of the Year: Desiree Sloan Harmon, founder and owner of Club Fit Studio, LLC, Paintsville

“The creative genius that drives our commonwealth forward lives in the minds of our entrepreneurs. This year we are honoring entrepreneurs from the far corners of Kentucky. We are deeply grateful for what they have done to sustain the economic vitality of large and small communities,” said Ralph Ross, district director of the Kentucky office of the U.S. Small Business Administration. “We are also grateful for our local, state and federal partners who work with us to help these entrepreneurs along their way.”

The Kentucky Small Business Development Center, part of the University of Kentucky College of Agriculture, Food and Environment, is a network of 13 offices located throughout the state. The center helps existing and start-up businesses succeed by offering high quality, in-depth and hands-on services. KSBDC is a partner program with the U.S. Small Business Administration. More information on KSBDC services can be found on their website, http://www.ksbdc.org/ .

 

Writer: Roberta Meisel, 859-257-0104

 

UK College of Agriculture, Food and Environment, through its land-grant mission, reaches across the commonwealth with teaching, research and extension to enhance the lives of Kentuckians.

 

 

 

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