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Congratulations on starting your own business!Starting and operating a business can be one of the most rewarding, yet challenging experiences of your life. Themore thought, planning, and research that go into your idea, the greater your chance for success.This guide has been created to assist you in planning the necessary steps in forming a successful venture, andincludes the assets, resources, and contacts available to help you get started and steer you in the right direction.The Missouri CORE region has abundant expertise in the area of entrepreneurship, and we hope this guide will beof assistance to you.We encourage you to keep this guide on hand and consult it frequently as you navigate the start-up of yourbusiness. While no one can do the work for you, or eliminate the risks involved in starting your own business,this guide provides the information necessary to smooth your transition into the entrepreneurial world and theeconomic development organizations within Missouri CORE are here to help you.Good luck in your new business venture!Sincerely,Steve Wyatt, JD Stacey Button, PresidentAssociate Vice Chancellor and Vice Provost Regional Economic Development, Inc.Economic Development, University of Missouri Boone County RepresentativeMissy Bonnot, Director of Economic Development Bruce Hackman, PresidentJefferson City Area Chamber of Commerce Fulton Area Development Corp.Cole County Representative Callaway County RepresentativeJim Gann, Director of Business Engagement Russell Runge, Assistant City Manager andOffice of Economic Development Director of Economic DevelopmentUniversity of Missouri City of MexicoCooper County Representative Audrain County RepresentativeJoel McNutt, Director Missouri CORE 1

Mid-Missouri Road Map for Entrepreneurs Published and distributed 2015 This publication project was led by Virginia Wilson and Collin Bunch – of the University of Missouri Small Business & Technology Development Center (SBTDC). Publication cover designed by Olivia Gill. Although we have tried to make this guide as accurate as possible, laws and regulations change periodically. Always check the current status of any laws or regulations which may apply to you. The following resources contributed to information in this publication: Paul Bateson, Collin Bunch, & Virginia Wilson – University of Missouri Small Business & Technology Development Center Terry Culver – SCORE, Columbia Chapter Kat Cunningham – Moresource Inc. Donna Delong Hamilton – Columbia Enterprise Development Corp. Matt Kitzi – Armstrong Teasdale, LLC Brett Maland – Law Firm of Brett M. Maland, LLC Nelson Mueller – Biz Crossing International Marketing Team – Missouri Small Business & Technology Development Center Chris Thompson – University of Missouri Extension Business Development Specialist Websites: www.business.mo.gov www.irs.gov www.missouribusiness.net www.sba.gov www.franchise.org www.ftc.gov Special thanks to Mike Brooks, former President of Regional Economic Development Inc. (REDI), Columbia, MO2

Marla Welker Karin Bell Geoff Karr Crystal Morris You work hard for your clients. Let us work hard for you.One of the best financing options for small and growing businesses is aloan guaranteed by the Small Business Administration (SBA). The Bank ofMissouri is a nationally recognized SBA Preferred Lender in Missouri andhas an award-winning SBA Lending Division.An SBA loan can help you finance an entire business, equipment and fixtures,working capital, business real estate and much more. The Bank of Missouri isproud to have a dedicated SBA Lending team comprised of experts in small businessfinancing who are here to help you get the best experience possible when workingthrough the loan process. Our SBA lenders also have the ability to make decisionslocally, without having to send your loan elsewhere for approval, making the processquicker and easier for you. Member FDIC
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TABLE OF CONTENTS 30 :: FINANCING YOUR BUSINESS 1 :: COVER LETTER Small Business Loans.............................. 30 Methods of Financing............................. 31 2 :: GUIDE CONTRIBUTORS Angel & Venture Funding....................... 35 5 :: EXPLORING ENTREPRENEURSHIP 36 :: REGISTERING YOUR BUSINESS / Is Entrepreneurship for You ......................5 TAX INFORMATION 20 Questions Before Starting...................5 Lowering Your Risks....................................6 License and Permit Checklist................. 38 12 Reasons Businesses Fail .......................6 Missouri License and Tax Research: Your First Steps .........................8 Requirements for Small Business ...... 39 Recognizing Opportunities ................... 10 Student Entrepreneurship ..................... 12 41 :: HIRING EMPLOYEES Lean Startup Process............................... 12 The Business Model Canvas .................. 13 43 :: GROWING YOUR BUSINESS Who is Your Customer?........................... 13 Marketing .................................................. 43 15 :: LEGAL ORGANIZATION Management............................................ 44 Doing Business with the Government.... 44 Establishing a Business Structure Trade Adjustment Assistance and Entity................................................ 15 for Firms (TAAF) ..................................... 45 Additional Information Common Economic Gardening.............................. 45 to All Statutory Entities ........................ 18 International Marketing ........................ 47 Intellectual Property ............................... 49 20 :: YOUR BUSINESS PLAN Technology Transfer................................ 50 Writing Your Business Plan.................... 20 51 :: EXIT & SUCCESSION PLANNING Business Plan Outline ............................. 21 Start-Up & Projected Monthly 53 :: PROFESSIONAL ASSISTANCE Expenses Worksheet............................. 23 Professional Resources ........................... 53 24 :: THE IMPORTANCE OF AN 55 :: BUSINESS CONTACTS & RESOURCES ELEVATOR PITCH Federal........................................................ 55 24 :: FRANCHISED BUSINESSES State............................................................ 55 Specific Permits/Licenses ....................... 56 26 :: CHOOSING YOUR BUSINESS Local Contacts – County and City........ 57 Colleges, Universities and LOCATION Tech Schools........................................... 60 Tips for Choosing Your 63 :: ADVERTISER INDEX Business Location.................................. 26 Business Incubators ................................ 28 29 :: SMALL BUSINESS INSURANCE Insurance for Your Business................... 29 Insurance for Your Employees............... 294

EXPLORING ENTREPRENEURSHIP ROAD TOIs Entrepreneurship for You? Supported by others – Before you start a business, it’s important to have a strong support system in place. You’ll beStarting your own business can be an exciting and rewarding forced to make many important decisions, especially in the firstexperience. Becoming a successful entrepreneur requires months of opening your business. If you do not have a supportthorough planning, creativity and hard work. Does the vision network of people to help you, consider finding a businessof your business meet your personal goals? Considering your mentor. A business mentor is someone who is experienced,personal goals will help you select a business that is right for successful and willing to provide advice and guidance.you. Experience within an industry or business can give youan advantage towards building a successful business. It is also If the above-mentioned characteristics describe you, then read on. . .important to build a strong team and seek assistance fromtrusted advisors, mentors, and outside professionals to prevent Exploring Entrepreneurshipyou from making costly mistakes and minimizing your risks. 20 Questions Before StartingConsider whether you have the following characteristics andskills commonly associated with successful entrepreneurs: So you’ve got what it takes to be an entrepreneur?Risk Taker – Entrepreneurship involves uncertainty. Now, ask yourself these 20 questions to make sure you’reDo you avoid uncertainty in life at all costs? If yes, then thinking about the right key business decisions:entrepreneurship may not be the best fit for you. Do you enjoythe thrill of taking calculated risks? If so, then entrepreneurship 1. Why am I starting a business?could be for you. 2. What kind of business do I want? 3. Who is my ideal customer?Desire and Passion – Do you have the drive, motivation and 4. What products or services will my businessemotional strength? Do you have the fervent drive to succeedand zeal for the tasks required? provide? 5. Am I prepared to spend the time and moneyIndependent – Being your own boss also means you’re the onemaking tough decisions. Entrepreneurs have to make a lot of needed to get my business started?decisions on their own. If you find you can trust your instincts 6. What differentiates my business idea and the— and you’re not afraid of rejection every now and then — youcould be on your way to becoming an entrepreneur. products or services I will provide from others in the market?Persuasive – You may have the greatest idea in the world, but 7. Where will my business be located?if you cannot persuade customers, employees and potential 8. How many employees will I need?lenders or partners, you may find entrepreneurship to be 9. What types of suppliers do I need?challenging. If you enjoy public speaking, and can engage new 10. How much money do I need to get started?people with ease and find you make compelling arguments 11. Will I need to get a loan?grounded in facts, it’s likely you’re poised to make your idea 12. How soon will it take before my products orsucceed. services are available? 13. How long do I have until I start making a profit?Ability to negotiate – As a small business owner, you will need 14. Who is my competition?to negotiate everything from leases to contract terms to rates. 15. How will I price my product compared to myPolished negotiation skills will help you save money and keep competition?your business running smoothly. 16. How will I set up the legal structure of my business? 17. What taxes do I need to pay?Creative – Are you able to think of new ideas? Can you imagine 18. What kind of insurance do I need?new ways to solve problems? Entrepreneurs must be able to 19. How will I manage my business?think creatively. If you have insights on how to take advantage 20. How will I advertise my business?of new opportunities, entrepreneurship may be a good fit. 5

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EXPLORING ENTREPRENEURSHIPLowering Your Risks 12 Reasons Businesses FailIn business there are no guarantees. There is simply no way to The U. S. Small Business Administration conducted a study thateliminate all the risks associated with starting a small business; looked at the reasons for small business failure. Here are thehowever, you can improve your chances of success with good major reasons ranked according to frequency.planning and preparation. 1. Inadequate front-end planning – The business owner didSome analysts estimate that up to 70 percent of all new not prepare a business plan, feasibility study, or cash flowbusinesses close after two to five years of operation. Good projection.entrepreneurs take calculated risks and reduce their risksthrough research and planning. Involve the right people in 2. Insufficient capital for start-up and back-up – Even theyour business from the start. Get assistance from advisors, most dedicated workaholic cannot overcome ongoingprofessionals and mentors. Build a strong team and involve the capital deficiencies due to start-up losses.right people in your business from the start. Carefully plan yourbusiness venture and write a business plan. Replace guessing 3. Inexperienced management – The business owner hadwith research and facts. insufficient experience in the management and day-to- day operations of the business or of any business.Business Idea Assessment
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EXPLORING ENTREPRENEURSHIPResearch: Your First Steps how soon did the business start to show profit, how soon could they take a salary, what personal qualities helped them, whatResearch starts at the first question you ask. All of the personal weaknesses did they have to overcome?information you will gather is to answer the first question,i4IPVME
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Know Your Industrymight change the purpose of the business. Some ideas might Research the trends, current status and health of the industryeven be shelved for the future. in which you will operate. What is the size and rate of growth in the industry? Is your business sensitive to economic cycles?Recognizing Opportunities How will your business be affected if the economy goes up orWhere others see problems and chaos, entrepreneurs see down? Is your business seasonal, if so how will you prepareopportunities. An opportunity can arise as you identify for less busier times? It’s important to know if regulations oran unmet need or want in the marketplace. Opportunity technology will affect the business. Most businesses haverecognition is a continuous process throughout the life of the associations that can provide financial information to getbusiness as customer wants and needs change. objective data to see if the industry and market can support your business goals.Personal ConsiderationsStart small. Talk to friends, family and coworkers to begin to Research the Market and Competitorscollect your thoughts. Ask everyone to evaluate your ideas Market research can identify market trends, demographics,honestly. Start to form your mission statement. economic shifts, customer’s buying habits, and important information on competition. The information must be timelyNetwork. Talk to other business owners to discover the realities and relevant to your business. Market research can help youof owning your own business. How many hours do they work, minimize your financial risks by determining if your product or Continued on page 10 A win-win, win, win, win situation. For a free catalog or quote, visit Smart Business Products www.smartbusinessproducts.com Begin with Accelerate and everybody wins. Accelerate is easy to order, install, and reconfigure. Components fit precisely and provide endless options for space planners to arrange people. See more about Accelerate online at hon.com/accelerate. Accelerate® © 2011 The HON Company SMART, SUSTAINABLE WORKPLACES START HERE 1901 Vandiver Drive | Columbia, MO 65202 | P: 573-474-4057 | F: 573-474-38388

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EXPLORING ENTREPRENEURSHIPContinued from page 8 Recognizing Opportunitiesservice will succeed or fail in the marketplace and perhaps save To stay ahead and on top of the market, companies mustyou from making costly mistakes. By describing the current constantly recognize opportunity as they continue to growstatus of the industry and the market, the business owner is and evolve. Some of the best entrepreneurial opportunitiesgaining confidence that the business concept is solid and there come by identifying a market need or solving a problem forwill be sufficient business to operate profitability. customers. Entrepreneurs identify an unmet need or want in the marketplace and provide a product or service which meets thatYou need to understand who is the customer, what are their need. The more you know about the marketplace and industryneeds, how to reach them, educate them and get them to in which you operate, the better you’ll be able to identify gaps,purchase the product or service. needs and unfilled wants. Look for emerging trends through trade and industry associations, technology, vendors andAs you do your market research, you will be determining suppliers and information gathering from other industries andwhether your target is sufficiently large enough to reach your various governmental agencies. Look for growth industries.goals, or whether your goals should be adjusted to accurately Position yourself in an industry that is going to grow rapidly.reflect the success you can anticipate from your target market. Study the competition and do an analysis of competitive data.You will need to identify and understand the barriers to entry. Changes in tastes, lifestyles and habits are constant and volatile.During your research, you will be trying to learn if you can be By anticipating and responding quickly to such changes, you canresponsive to changes in the market, and if your product and greatly increase your chances of having a successful business.delivery methods are aligned with customer expectations. Keeping up with lifestyles and consumer habits can lead you to a good idea or help refine the one you already have.In your research, you’ll identify competitor offerings, evaluatecompetitors’strengths and weaknesses and how to differentiate Recognizing opportunity is a natural process for most people, weyourself from your competitors. Competition is what makes the strive to improve things and visualize how they could be better.market work. Understand your competitors and learn from them. Assessing that opportunity is a mixture of art and science as you research; and test assumptions to determine any large obstaclesYou will identify your niche, where you are going to position your in your pursuit. This can come in the form of industry research,offerings. This, along with your costs, will help determine pricing. discussions with mentors, or lean startup tests that validate assumptions or needs. Finally realization is moving past analysisResearch the Field and building something to capture the opportunity.Network with owners of similar businesses in noncompetitivelocations. As long as you pose no threat to them, what betterTPVSDF
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if your type of business exists there and talk to that owner. Behonest about what you’re doing, and have questions preparedahead of time to minimize the time you take. Prospectivecustomers and interviews with people who might later becomecustomers can be very valuable.Visit the Chambers of Commerce, SBDC centers, economicdevelopment offices and other organizations that help develop newbusinesses. Universities, colleges and libraries also have resourcesthat can help with your research. (See the Appendix section)10

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EXPLORING ENTREPRENEURSHIPStudent Entrepreneurship Lean thinking defines value as providing benefit to the customer, anything else is waste. When you launch any newStudents from all backgrounds are interested in entrepreneurship business or product you do so based on validated learning,because what it really means is leadership, collaboration and experimentation and frequent releases which allow you toinnovation. Regardless of whether you are ready to start your measure and gain valuable customer feedback.own venture or just interested in working for yourself someday,consider attending events on campus and in the community to Build > Measure > Learnlearn about entrepreneurship or help someone with their idea. Instead of making assumptions, you make testable hypothesis about a product or feature and test it in the market.The mid-Missouri region has long been a hotbed of studententrepreneurship, as students of all campuses engage with the Lean Startup Cycleentrepreneurial ecosystem in the region. There are a number oforganizations, events, and programs that students can utilize toget help with their idea or learn more about entrepreneurship.Each year in the Spring, the Regional Economic Development,Inc. (REDI) organizes an entrepreneurship conference and pitchevent with local partners like CORE. Columbia Startup Weekend &Hack Mizzou are held in the fall and are open to students from allschools. These events provide an intense dive into creating a newbusiness or idea and forming teams with people with differentstrengths.The SBTDC is a free resource for all types of students throughoutthe state of Missouri. Advisors are trained in developing youridea by meeting individually to talk through issues, teachentrepreneurial skills, and also connect you with other resources.On campus resources like student groups, faculty, and evenAlumni can help you develop your idea or interest in owning yourown business.Lean Startup Process www.lean.st/principles/build-measure-learnSo you have an idea for a company or social venture, how Minimum Viable Productdo you find out if it’s worth investing your time, energy, and An MVP is not a minimal product; it is a strategy and processmoney? Eric Ries, a Silicon Valley entrepreneur and author directed toward making and selling a product to customers.recognized for pioneering the lean startup movement, defines It is an iterative process of idea generation, prototyping,a startup as an organization dedicated to creating something presentation, data collection, analysis and learning. One seeksnew under conditions of extreme uncertainty. How do you to minimize the total time spent on iteration.strategically vet the idea over time minimizing investment andrisk until you find the right model and market fit?12

EXPLORING ENTREPRENEURSHIPThe Business Model Canvas Key Partners Who will help you with any aspect of implementing yourThe Business Model Canvas was first developed by Alex model?Ostenerwalder, co-founder of strategyzer.com and lead authorof the Business Model Generation, as a tool to actionably Cost Structureconceptualize innovative ideas. Since its inception it has been What will it cost? (Resources, time, energy)tweaked and adapted for all types of businesses, organizations,and personal goals. The model is based on complex systems Revenue Streamand understanding how your business operates in a simple, How much will you make?visual way. It’s important that you incorporate all costs into the solutionThis tool is especially critical to early phase businesses that you’re developing. Even if you don’t make a profit right away,may have shifts in their model as they get feedback from understanding the relationship and when you should make acustomers or develop new iterations by creating a simple profit is critical.guide that ensures all aspects of the model are covered andunderstanding how they relate.It’s also helpful for existing businesses as they develop newproducts or reach out to new markets. Each expansion shouldbe viewed through the lens of customer discovery and creatingsmall iterations until the right solution and customer is found.Building Your Model Who is your customer?You can start anywhere, but most people like to start with theValue Proposition. Will your business idea attract enough customers to be a profitable business? One of the biggest challenges forThe Value Proposition Canvas makes explicit how you are startups and growing companies is determining who theircreating value for your customers. How does your product/ ideal customers really are. The more you know about theservice ease the pains, increase the gains, and solve problems marketplace and industry in which you operate, the betterfor customers. Although it can be the most difficult to discern, you’ll be able to identify gaps, needs and unfulfilled wants.once you have a strong value proposition the model is simple You may use trade and industry information, focus groups,to complete. (See page 14 for the Value Proposition Canvas) census data and other market research to understand your customers and know what your competitors are doing. MarketCustomer Segment research can identify market trends, demographics, economic Who do you help? shifts, customer’s buying habits and important information on competition. Use this information to define your target marketsCustomer Relations and establish a competitive advantage. How do you interact? How do they view you? In particular, when you are starting out, you want to focus on customers where quality or solving the problem is moreChannels important than price. Small businesses and entrepreneurs in How do you reach them (message & delivery or general aren’t trying to sell to mass markets rather they should product/service)? focus on a niche(s) that truly value their solution. Think about your customers or potential customers, who gets what you’reKey Activities doing? Who needs it? Who is willing to pay? Stripped down, what are the things you MUST do to operate this model?Key Resources What do you need? 13

14 The Business Model Canvas Designed for: Designed by: Date: Version: Key Partners Key Activities Value Propositions Customer Relationships Customer Segments Who are our key partners? What Key Activities do our Value What value do we deliver to the What types of relationships does each of our For whom are we creating value? Who are our key suppliers? Propositions Require? customer? Customer Segments expect us to establish and Who are our most important customers? Which Key Resources are we acquiring from Our Distribution Channels? Which one of our customer’s problems are we maintain with them? partners? Customer Relationships? helping to solve? Which ones have we established? Mass Market Which Key Activities do partners perform? Revenue streams? What bundles of products and services are we How are they integrated with the rest of our Niche Market offering to each Customer Segment? business model? Segmented MOTIVATIONS FOR PARTNERSHIPS CATEGORIES Which customer needs are we satisfying? How costly are they? Diversified Multi-sided Platform Optimization and economy Production CHARACTERISTICS EXAMPLES Reduction of risk and uncertainty Problem Solving Acquisition of particular resources and activities Platform/Network Newness Personal assistance Performance Dedicated Personal Assistance Customization Self-Service “Getting the Job Done” Automated Services Design Communities Brand/Status Co-creation Price Key Resources Cost Reduction Channels Risk Reduction What Key Resources do our Value Accessibility Through which Channels do our Customer Propositions require? Convenience/Usability Segments want to be reached? Our Distribution Channels? How are we reaching them now? Customer Relationships? How are our Channels Integrated? Revenue streams? Which ones work best? Which ones are most cost-efficient? TYPES OF RESOURCES How are we integrating them with customer rountines? Physical Intellectual (brand patents, copyrights, data) CHANNEL PHASES Human Financial 1. Awareness - How do we raise awareness about our company’s products and services? 2. Evaluation - How do we help customers evaluate our organization’s Value Proposition? 3. Purchase - How do we allow customers to purchase specific products and services? 4. Delivery - How do we deliver a Value Proposition to customers? 5. After sales - How do we provide post-purchase customer support? Cost Structure Revenue Streams TYPES FIXED PRICING What are the most important costs inherent in our business model? For What value are our customers really willing to pay? Asset sale List Price Which Key Resources are most expensive? For what do they currently pay? Usage fee Product feature dependent Which Key Activities are most expensive? How are they currently paying? Subscription fees Customer segment dependent How would they prefer to pay? Lending/Renting/Leasing Volume dependent IS YOUR BUSINESS MORE How much does each Revenue Stream contribute to Licensing overall revenues? Brokerage fees DYNAMIC PRICING Cost Driven (leanest cost structure, low price value proposition, maximum automation, extensive outsourcing) Advertising Value Driven (focused on value creation, premium value proposition) Negotiation (bargaining) Yield Management SAMPLE CHARACTERISTICS Real-time-Market Fixed Costs (salaries, rents, utilities) Variable costs Economies of scale Economies of scope DESIGNED BY: Business Model Foundry AG The makers of Business Model Generation and Strategyzer (strategyzer.com)

LEGAL ORGANIZATION ROAD TOEstablishing a Business Structure PARTNERSHIPSand Entity Partnerships involve two or more people who are conducting a business together. With respect to taxes, the owners of aSelecting and forming the optimal entity for a business partnership are taxed but the partnership itself is not.venture can take mere minutes, but has a decades-longimpact that shapes a company’s ownership, management, General Partnershipfinances, tax obligations and liabilities. Government agencies A general partnership consists of general partners who sharehave made the process of creating a corporation or limited the management of the entity and are personally responsibleliability company exceedingly simple — anyone with an for the partnership’s obligations. All partners in a generalInternet connection and credit card can bring a new entity partnership share unlimited liability for the obligations andinto existence in 15 minutes. The decisions and legal issues actions of the partnership and its partners. The best practiceunderlying that creation, however, are complex and require is to have a written partnership agreement prepared with ana thorough review of a wide range of considerations. The attorney’s assistance.sections below outline features of the most common businessstructures and statutory entities, and also provide a little Advantagesmore depth on traditional or typical business structure issues
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Helping you grow your business without dropping the ballSuccessfully managing a growing business enterprise takes talent, ambition and a knowledgeableaccountant with the tools to help you grow. Williams-Keepers LLC can be a trusted advisor toensure your ventures are positioned for success.· Entity selection · Financing consulting · Accounting system design and set-up· Business ownership · Tax planning, preparation structuring and compliance · Business valuations · Buy/sell agreements· Contract review and · Bookkeeping and financial · Internal control review due diligence statement preparation Learn how WK can help your business grow.www.williamskeepers.com (573) 442-6171 COLUMBIA (573) 635-6196 JEFFERSON CITY 17

LEGAL ORGANIZATIONContinued from page 16 state of formation. The name does not have to be the business or trade name of the venture, and it does not have to be all that Disadvantages different from that of existing businesses. It is important to
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19

ROAD TO YOUR BUSINESS PLANWriting Your Business Plan Operational Plan – This section explains the daily operation of the business, its location, equipment, people, processes andThe importance of planning your business cannot be surrounding environment.over emphasized. The business plan is a roadmap for thedevelopment of your company. The process of writing a Management and Organization – This is an important sectionbusiness plan will force you to take an objective, critical look at in that it addresses who will manage the business day to dayall aspects of your business project. The business plan will help and their qualifications, as well as what to do when theseyou identify areas of weakness and strength, spot opportunities key personnel need to be replaced. You will also discuss theand foresee possible problems. The business plan is primarily professional and advisory support that the business will havefor you, the owner, and a thorough business plan can become available.a complete financing proposal that will meet the requirementsof most lenders, other investors or potential partners, and Startup Expenses and Capitalization – This is the sectionsuppliers. The finished plan should specify the steps you will where you estimate as accurately as possible the expenses thetake to manage the business and realistically describe your business will incur and how much capital you will need to getability to profitably operate the business. As you develop your the business up and running and to keep it operating.business plan, you may have to modify or revise your initialplans. The business plan is a living document that you will Financial Plan – This very important section is comprised ofupdate as your business, industry and market change. The monthly reports including profit and loss projections, cash flowtypical business plan includes the following sections: predictions, a balance sheet and a carefully calculated break- even analysis. A final detailed budget is also necessary. (See theExecutive Summary – Write this section last keeping it to no Start-up & Projected Monthly Expenses Worksheet on page 23.)more than two pages. Explain the fundamentals of the proposedbusiness which include a discussion of what industry you are in, (For assistance with your business plan contact your local SBTDCwho your competitors will be, the product and/or services that or SCORE office.)you will provide and who your targeted customers will be.General Company Description – This section should consistof your mission statement, a listing of your company goalsand objectives and your business philosophy. Describe thecompany’s most important strengths and core competencies,as well as your legal form of ownership.Products and Services – Describe in depth your products andservices while addressing in detail your unique or proprietaryfeatures. This is also the time to address pricing, fees, or leasingcosts of your products and services.Marketing Plan – This begins with careful systematic research,looking at both primary and secondary information. Inthis section it is very important to include specific statistics,numbers and sources. This will include the total size of yourmarket and what percentage you expect to have of the totaland the various barriers you will have to overcome and howthat will be achieved. In this section you will also clearlyidentify your intended customers and their demographics. Youwill do the same for your competition in a competitive analysis.You will then develop a strategy and a budget to support thatstrategy. This information will all culminate in a sales forecast.20

YOUR BUSINESS PLANBusiness Plan OutlineTitle
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22

YOUR BUSINESS PLANStart-Up & Projected Monthly Expenses WorksheetONE TIME START UP EXPENSES AMOUNT NOTESOne Time Start-Up Costs:Rent DepositFurniture & FixturesEquipmentBuild out / RenovationsDecorating, Painting and RemodelingInstallation of Fixtures & EquipmentStarting InventoryDeposits with Public UtilitiesLegal, and Other Professional FeesLicense and PermitsAdvertising and PromotionInsuranceSoftwareVehiclesTrainingSales Tax PermitCashOther:Other:Total One Time Start-Up Costs:Monthly Expenses: Working CapitalBank ChargesDebt Service (interest and principle)InsuranceMembership & DuesMaintenance & RepairsMarketing & Promotion: AdvertisingOutside ServicesPayroll: Wages (Owner/Manager)Payroll: Wages (Employees)Payroll TaxAccounting and Legal FeesVehicleTravelRentSubscriptionsSupplies: OfficeSupplies: OperatingTelephoneUtilitiesShipping & DeliveryOtherMiscellaneousTotal Monthly Expenses:Number of Months Required to Cover Expenses:TOTAL START-UP FUNDS REQUIRED:Loan Amount (at 80% of Total Start-Up) 23

ROAD TO THE IMPORTANCE OF AN ELEVATOR PITCHAlthough many entrepreneurs have actually been caught onan elevator with an angel investor or strategic contact, the realimportance of crafting an elevator or minute pitch is being ableto succinctly communicate your vision in a way that peoplecan understand and act upon. Not all entrepreneurs will pitchinvestors, but almost every day you will pitch customers,partners, and people in the ecosystem to support your business.Your well-crafted pitch for your current business iteration can beused in person, on the phone, and in digital marketing efforts.Even more powerful, a well thought out concise value propositioncan be remembered and shared by other people in your network.ROAD TO FRANCHISED BUSINESSESFranchising can be a great alternative if you want to have someguidance in the start-up phase of the business. Before youdecide to franchise, you need to do your research. You couldlose a significant amount of money if you do not investigate abusiness carefully before you buy. By law, franchise sellers mustdisclose certain information about their business to potentialbuyers. Make sure you get all the information you need firstbefore entering into this form of business.Advantages of Franchise:
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Behind every successful business there’s a trusted legal specialist EMERGING BUSINESSES & STARTUPS Business Organization Financing and Raising Capital Employment Intellectual Property Business Expansion Components Estate and Business Succession Planning Emerging Companies Industry Group Co-Chairs: Mid-Missouri: Matt Kitzi - 573.659.6707 | St. Louis: Jennifer Byrne - 314.342.8025 www.armstrongteasdale.com/emerging-companiesThe choice of a lawyer is an important decision and should not be based solely upon advertisements. 25

ROAD TO CHOOSING YOUR BUSINESS LOCATIONTIPS FOR CHOOSING YOUR Evaluate Your FinancesBUSINESS LOCATION Besides determining what you can afford, you will need to be aware of other financial considerations:Choosing a business location is perhaps the most importantdecision a small business owner or startup will make, so it
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Boone County ASHLAND EST. 1877U1N4IVmEiRleSsIT/Y1O8FmMinISutSeOsURI 70 mVIiAnuHtWesY 63 MISSOURI STATE CAPITAL 14 17 miles / 20 minutes IN1T4ERmSiTleAsTE/COLUMBIA REGIONAL AIRPORT6 miles / 8 minutes LOCATION, LOCATION, LOCATION! Ashland, Missouri is centrally located between Columbia, Jefferson City, and Fulton, and is just 5 minutes from the airport! Visit our website today for business and community information and resources. 27

CHOOSING YOUR BUSINESS LOCATIONBUSINESS INCUBATORSDowntown Incubator Columbia Regional Economic Development Inc. (REDI) launched the Downtown Incubator in 2012. The500 East Walnut, Suite 105 Downtown Incubator is a shared workspace for innovatorsColumbia, MO 65201 to work 24/7/365 and serves as a meeting place for natural(573) 442-8303 collaboration with other creative minds. The space, nextwww.columbiaredi.com door to REDI’s headquarters and the Small Business and Technology Development Center (SBTDC), serves as an affordable, 24-hour office providing resources and space for local entrepreneurs. With nearby advisors and a supportive entrepreneurial atmosphere, the Downtown Incubator has become home to a wide variety of start-up businesses. Some businesses use the incubator for a short time; others are long-term. The incubator is used as a full time office, a satellite office, and as a business drop-in space to work between downtown meetings. Some use the incubator on a daily basis and others only occasionally. The Downtown Incubator provides professional meeting space and address in a convenient, downtown location. Resources from REDI and the Columbia SBTDC counselors are available to all clientele of the Downtown Incubator.MU Life Science Business Incubator The Missouri Innovation Center (MIC) operates the MU Life Science Business Incubator at Monsanto Place, which offers biomedical and life science wet labs and engineering (including software) suites for startup companies. MIC counselors reside at the business incubator and offer ongoing mentoring services and technology commercialization assistance. 1601 South Providence Road Columbia, MO 65211 (573) 884-0496 www.muincubator.com28

SMALL BUSINESS INSURANCE ROAD TOBusiness insurance protects your investment by minimizing due to business operations. As a general rule, firms with five orfinancial risks associated with unexpected events such as a more employees must be covered, although contractors withdeath of a partner, an injured employee, a lawsuit, or a natural even one employee must also buy coverage. It is importantdisaster. One thing that’s important not to overlook is making to note that Missouri law does not distinguish betweensure your business is adequately protected through property employees of different employment statuses. The statutoryinsurance, liability insurance and other types. Also, staying EFöOJUJPO
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ROAD TO FINANCING YOUR BUSINESSImprove your odds of business success by understanding your and establish a solid relationship from the beginning. Lendersfinancing needs, as well as the options that are available to help are more favorable to extend credit to businesses that are well-you start, manage and grow your business. known in the local business community. Do the research on small business lending process and different loan programs.Capital or funding is an important aspect of any business as itbegins to grow. It’s important to understand the types and uses Before you approach a lender for a loan, you will need toof funding sources. A common mistake for new companies is understand the factors the bank will use to evaluate yourto seek funding before they are ready or have validated their application. The five things a lender is typically going to bemodel. Each investor or group is different, but your exit plan concerned with (these may vary by lender) are: characterand management team are likely critical to any decision. (stability, and good record of paying your bills on time), collateral, capital/equity, capacity/ability to pay back, andSmall Business Loans condition (outside circumstances that may affect borrowers financial situation and ability to repay). Some lenders developIt is essential that the decision to apply for a loan is based on UIFJS
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FINANCING YOUR BUSINESS
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RETAIL OFFICE FOUNDED ON INTEGR OUR REACH IS NATIONAL, BUT OUR HOME IS COLUMBIA. For more than 20 years, Maly Commercial a reputation for quality projects, on time and on Realty has been helping clients find the perfect budget. location to grow their business. We’ve honed our skills on some of the biggest development projects Whatever your real estate objective, Maly in the country, but our passion has always been Commercial Realty can make it happen. We’re serving clients right here at home. Whether you’re committed to complete client service—sharing our looking for a new office, the perfect retail space knowledge and experience, and walking you through or a warehouse for your expansion, we have the the process every step of the way. Whether you’re knowledge and experience to help you succeed. looking for expertise in retail development, the restaurant business, investment strategies, market We offer a wide variety of retail, office, and site analysis or land development, our team is industrial and multifamily properties, as well as ready to help. land for development. Beyond our hometown of Columbia, Missouri, we’ve completed more than R. Otto Maly 150 commercial and retail site selections for major President national tenants in 32 states and developed more than 30 shopping centers nationwide. We have MALY IS A PROUD MEMBER OF REDI. WE’LL SEE YOU AT ONE MILLION CUPS OR THE NEXT REDI QUARTERLY BREAKFAST. www.malyrealty.com (573) 443-3200 Toll Free 1-888-875-1332 Fax (573) 875-128632

INDUSTRIAL MULTIFAMILY LANDRITY. DEDICATED TO RESULTS.OTTO MALY GINA RENDE MEL ZELENAK JOHN HANCOCKLEASING I DEVELOPMENT I SALES 213 N. Stadium Blvd. Suite 203 Columbia, Missouri 65203 33

FINANCING YOUR BUSINESSContinued from page 31 Petersen organization (www.justinepetersen.org) or Central Missouri Community Action (CMCA) (www.showmeaction.com) inEnterprise Development Corporation is a not-for-profit Columbia, MO. CMCA has an income limit.Certified Development Corporation (CDC) financing the growthof small businesses in Missouri through 504 loans. The SBA 504 USDA Rural Development – Through its business programs,program from Enterprise Development can provide up to 40% of the USDA Rural Development provides loans for business anda project’s financing with the participating lender providing up industry often in partnership with private-sector lenders. Loanto 50%. Depending on the details, the borrower is responsible purposes include construction, renovation, purchase land andfor a minimum of 10%. For start-up businesses or those in buildings, purchase machinery and equipment, startup costsoperation for less than two years, the maximum participation is and working capital. Business and industry loans are normally35%, while the participating lender and the borrower contribute available in rural areas which include all areas other than citiesthe balance. If real estate is involved in the project that is or towns of more than 50,000 people and the urbanized areaspecial-purpose in nature, the SBA 504 loan will be reduced by contiguous and adjacent to those cities or town.5%. Historically, the average size of an SBA 504 loan throughEnterprise Development is around $500,000. The minimum loan Missouri Small Business Loan Program – The Missouriamount is $65,000 and the maximum loan amount is $5 million Department of Economic Development working with the($5.5 million for Public Policy Goal projects). Missouri Development Finance Board have a pool of funds for low-interest or no-interest direct loans for small businesses.Enterprise Development Corporation Information can be found at:910 E. Broadway, Ste. 201 www.ded.mo.gov/businesses/programsbusinesses.(573) 875-8117Columbia, MO 65201 Personal, Friends and Family – Using personal savings orwww.entdevcorp.org borrowing money from the equity you have built in your home are the more effortless and inexpensive ways to obtain fundingRMI is a Certified Development Company (CDC). Working with a for your business. You will want to take into considerationlender, RMI provides up to 40% of the financing for the purchase how using your savings or home equity impacts your personalof existing commercial real estate or new construction and financial security. Money borrowed from relatives andequipment. The 504 Loan Program provides long-term, fixed-rate friends can sometimes be another easy source of funding.financing with low down payments to businesses. These loans are This source of funding is obtained through close personalused to acquire real estate, machinery or equipment for expansion relationships. You should establish a clear understanding ofor modernization. Projects range: $120,000 to $10 million. the risk associated with the investment, as well as repayment expectations for loans.A typical project includes a loan from a bank or non-bank lenderwith secured senior lien; a 504 loan from RMI secured with a junior Crowdfunding – Although Crowdfunding, or the ability of alien covering up to 40% of the total project cost; a contribution of community of supporters to help fund or give resources to buildat least 10% from the borrower. The 504 Loan Program is designed an idea, is not new the internet and the social layer built upon itfor start-ups and existing businesses, for-profit businesses, and have enabled a surge of projects that are funded by friends andowner-occupied businesses. future customers of the business. Typically a project is created online complete with video and ‘rewards’ in the form of productRMI or special services that are given to supporters who donate funds3324 Emerald Lane to a campaign.Jefferson City, MO 65109(573) 635-0136 Crowdfunding as a form of financing a venture is a great fit whenwww.rmiinc.org the idea is unique, reaches a particularly passionate audience, or within the context of testing the validity of an idea. It takes aMicroloans – Microloans are usually provided by community- lot of work to organize, promote, run, and then follow up on abased, nonprofit micro-finance institutions that want to help crowdfunding campaign.people like you start or grow a business. The SBA Microloanprogram provides very small loans to startups, newly established There have been numerous successful campaigns in the mid-or growing small business. For a microloan contact the Justine Missouri region including: Ragtag Cinema Gunter Haus, Vonnie34

FINANCING YOUR BUSINESSD’s Pinball, Pizza Tree, Encircle Technologies, Stadium Shoes, BelleBash, and Soul Seat — they were able to tap into a community,fund their idea, and have a great start or boost to their business.Although most of these projects were on Kickstarter orIndieGoGo there are many platforms with their own communityand rules that you should assess before making a decision.Kickstarter – www.kickstarter.comIndiegogo – www.indiegogo.comGofundme -www.gofundme.comCrowdrise – www.crowdrise.comAngel & Venture FundingAngel Investors – Angel investors are typically high networth or affluent individuals who can afford to make earlierstage investment in a new venture. They will ask for a smallerpercentage of ownership than larger venture capital firms andcan provide mentorship, access to experts and other networks,and potentially additional funding at a later stage.Every deal is unique, however consider Angel investors orany capital infusion within the context of how it will help youscale your venture or reach a higher rate of profitability. Angelinvestors are looking at how their investment will take yourbusiness to a scalable level and ultimately make a multiple ofreturn at a later date. This requires your business to have sometype of clear exit strategy, whether it’s being purchased byanother company or investment firm, buying out the investorswith profits, or making an Initial Public Offering (IPO).Venture Capital – Venture capital firms provide capitalunsecured by assets to young, private companies with thepotential for rapid growth. Typically Venture funds wouldcome after a round of initial investment and phase of growthor business milestones. This could relate to level of adoption,clinical or legal hurdles, or success of a new technology.Venture capital is also an active rather than passive form offinancing. These investors seek to add value, this requires activeinvolvement; almost all venture capitalists will, at a minimum,want a seat on the board of directors.Although investors are committed to a company for the longhaul, that does not mean indefinitely. The primary objective ofequity investors is to achieve a superior rate of return throughthe eventual and timely disposal of investments. An investorwill be considering potential exit strategies from the time theinvestment is first presented and investigated. 35

ROAD TO REGISTERING YOUR BUSINESS/TAX INFORMATIONState Registration to three times the average monthly sales and use tax. SeparateIf you are interested in starting a new business, the first step is licenses for businesses wanting to operate as a motor fuelBusiness Registration (www.dor.mo.gov/business/register). supplier, permissive supplier, distributor, terminal operator or transporter, and for businesses wanting to operate as aMissouri law requires any person or business entity transacting cigarette or other tobacco products wholesaler are required.CVTJOFTT
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REGISTERING YOUR BUSINESS/TAX INFORMATIONSelf-employment TaxesAs a self-employed individual, generally you are required to filean annual return and pay estimated tax quarterly. You are self-employed if your carry on a trade or business as a sole proprietor,an independent contractor, a member of a partnership, LLC orare otherwise in business for yourself. You do not have to carryon regular full-time business activities to be self-employed. Part-time work, including work you do on the side in addition to yourregular job, may also be self-employment.Self-employed individuals generally must pay self-employmenttax (SE tax) as well as income tax. SE tax is a Social Security andMedicare tax primarily for individuals who work for themselves.It is similar to the Social Security and Medicare taxes withheldfrom the pay of most wage earners. In general, anytime theXPSEJOH
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REGISTERING YOUR BUSINESS/TAX INFORMATION License and Permit Checklist † Check with your County Clerk about requirements for County Business License. † Check with City Clerk for requirement for City Business License if business located within the city limits. † Have you requested your Fictitious Name from the Missouri Secretary of State? (Businesses not forming as corporations) † Business forming as a corporation — have you filed your Articles of Incorporation with the Missouri Secretary of State Office? † Does your business require you to collect sales tax in and out of the State of Missouri? Have you applied for a Sales Tax and Use Tax number from the Missouri Department of Revenue? † Will your business have employees? Have you applied for a Federal Employee Identification Number (EIN) from the IRS by calling over the phone: 1-800-829-4933? † Do you know the proper amount of Federal and State Tax to withhold from your employees? Contact IRS, Missouri Department of Revenue or your CPA for guidance. † Workers’ Compensation Insurance is mandatory for businesses that employ more than five full time employees or construction companies with one or more employees: Have you contacted a private insurance company for coverage? † Does your business require any special licenses or permits? (i.e. Pest Control, Food, Plumbers, Daycare, Liquor, Real Estate, and Heating and Air Conditioning). NOW LEASINGBROADWAY BLUFFS BROADWAY SHOPS FORUM SHOPPING CENTER NIFONG SHOPPING CENTER WITH PRIME RETAIL, RESTAURANT AND OFFICE SPACE, CONTACT US TODAY TO FIND OUT ABOUT SPECIAL OPPORTUNITIES FOR ENTREPRENEURS AND THE RIGHT SPACE TO START YOUR BUSINESS. 573.446.5500 | forumgroup.com [email protected]

REGISTERING YOUR BUSINESS/TAX INFORMATIONMissouri License and Tax Requirements for Small BusinessLicense/ Tax Sole Proprietor Partnership Limited Liability Corporations Company RequiredRegister Company Yes, unless using Required Requiredname, Fictitious business owner’sname form full name Yes, if retail or Yes, if retail or Yes, if retail orSales and Use Tax # wholesale wholesale wholesaleForm 2643 Yes, if retail or business. No, if business. No, if business. No, if wholesale service business service business service businessFederal I.D. # or business. No, if RequiredEmployer I.D. # service business Required RequiredForm SS-4 Yes, if employees Yes, if you or you deal in employ anyone. Same as Yes, everyone isWithholding Tax # alcohol, firearms, No, if partner partnership. considered an tobacco. No, if employee of the no employees Yes, if you corporation employ anyone Yes, if you Yes, if one or Yes, if you employ anyone. more employees employ anyone No, if proprietor Yes, if one orSocial Security Tax Yes, if you Yes, if you more employees employ anyone employ anyoneUnemploymentInsurance # Yes, if one or Yes, if one or more employees more employeesImmigration Law Yes, employees Yes, employees Yes, employees Yes, employeesForm I-9 hired after Nov. 6, hired after Nov. 6, hired after Nov. 6, hired after Nov. 6, 1986 1986 1986 1986Worker Construction is Construction is Construction is Construction isCompensation with one with one with one with one(through private employee, others employee, others employee, others employee, othersinsurance company) five or more five or more five or more five or moreBusiness PropertyTax (call local Yes, if included in Yes, if included in Yes, if included in Yes, if listed inAssessor) business assets business assets business assets business assetsArticles ofIncorporation No No State Law Yes Requirements forLocal Business Yes, from local Yes, from local L.L.C. Yes, from localLicense municipality or municipality or organization municipality or unincorporated unincorporated unincorporated co. co. Yes, from local co. municipality or unincorporated co. 39

OUR ROOTS MAKE GETTING A LOAN EASIER THAN YOU THINK. At Boone County National Bank, we control our loans. So we can guide you through the process faster and more efficiently with local decision makers who can offer you more flexible terms, whatever stage your business is in. To get your business loan started, call 874-8100 or visit any location. &ROXPELD02‡‡0HPEHU)',&‡ERRQHEDQNFRP‡IDFHERRNFRP%RRQH%DQN40

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banking institution on the 15th of the month.File required payroll reports with the Department of Revenueand the Department of Labor and Industrial Relations on aquarterly and annual basis; and issue W-2 reports to employeesat the end of the year. For more information about payroll issues,visit the IRS website. A good resource is IRS Publication #15.Source: www.business.mo.gov/agencies/revenueOnce you hire an employee, you put on an entirely new hatas a business owner. There are state specific laws for payingemployees. The rules are governed by Wage and Hour of theDepartment of Labor. Rules such as:
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send a letter to the employee at the last known address, containing information about the unclaimed paycheck. If nothing results from the notification, then the Holder must report it to the state. Records should be kept at least five years after reporting. Reports must be filed by November 1 for all years ending June 30. Unclaimed Property Holder Report Forms (scroll down to Report/ Remit Unclaimed Property): www.treasurer.mo.gov/mainUCP.aspx.
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GROWING YOUR BUSINESS ROAD TOMarketing Communicating a great idea starts with a strong value- proposition. The value proposition for your business is how you“All marketing is customer service.” communicate the benefit of your product/service through the lens of your customer/stakeholder. It’s important to note thatAs the social web and power of search engines become different customer segments or even partners will all have aincreasingly important to the success of brands, customer different value proposition.service is transforming from a management function toan important driver of marketing success and building acommunity.It’s important to reach customers where they’re comfortableand create a system or strategy to engage with customersacross multiple platforms. When done right, great customerservice can create loyal customers who will also drive others toyour business.The complexity of business in the digital age can seemdaunting, but realize that all networks are made of people.Design your customer process and service elements aroundengaging with people and keep the long-term success of yourventure as your goal.LGIBUSINESS Use the library to help your business from your home BROKERS or work computer or electronic device. Take business classes, conduct research, download business forms, Over 300 Closed and get professional training. It’s all free with a free Business Transactions library card. Apply online or at the library. Over 2000 Check out: Business/Machinery • U.S. Legal Forms • Business Insights Equipment • Small Business Valuations Resource Center Let LGI Work • Research USA For You • LearningExpress Library • Lynda.com Jeff Guinn, President • Universal Class • eBooks and audiobooks Certified Machinery & Equipment Appraiser Certified Business Intermediary | Fellow of the IBBA Daniel Boone Regional Library Certified Senior Business Analyst www.dbrl.org LGI Business Brokers :: 28 North Eighth Street :: Suite 501, Guitar Building :: Columbia, MO 65201 43 573-875-2773 :: Fax 573-443-4992 :: [email protected] www.lgibusinessbrokers.com

GROWING YOUR BUSINESSManagement

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GROWING YOUR BUSINESSfrom responsible suppliers willing to participate in contracts Eligible firms are assisted in two ways:with the U.S. Army, Navy, Air Force, Defense Logistics Agency, 1. TAAC personnel conduct a comprehensive companyVeterans Administration, General Services Administration and assessment to identify and prioritize opportunities for increaseda host of other federal, state and local agencies. There are profits, job creation and long-term financial stability.literally billions of dollars in opportunities in the government 2. TAAF partners with manufacturers by offering grantmarketplace. funding of either $150,000 (50 percent company match) or $30,000 (25 percent company match) to implementFederal purchasing offices are required by the Small Business projects that are focused on improving a firm’s internal\"DU
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operations and competitive abilities for increased profits,bidding by small and/or minority owned businesses. Often jobs creation and long-term financial stability.major prime contractors are also required to subcontract aportion of their government contracts to small firms. Contact your local SBTDC center to learn more about this businessThe Missouri Procurement Technical Assistance Centers (MO assistance opportunity.PTAC) assists businesses — including small, disadvantaged andwomen owned firms — in obtaining federal, state and local Economic Gardeninggovernment contracts.Procurement specialists will assist you in identifying Driven by the National Center for Economic Gardening (NCEG),opportunities and understanding the government &DPOPNJD
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46

GROWING YOUR BUSINESSContinued from page 45
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Economic Gardening originated in Littleton, Colo. in the 1980sunder the direction of Chris Gibbons, then director of the city’s certificationsbusiness and industry affairs and now CEO of the NCEG. Duringthe 20-year period Littleton practiced Economic Gardening, The International Trade Network consists of partners tojobs grew from 15,000 to 30,000, and sales tax revenue coordinate and streamline delivery of international trade servicesmore than tripled from $6M to $21M without any recruiting, to primarily new-to-export and new-to-market companies.incentives or tax rebates. The partners in the international trade network and their rolesSource: include:www.edwardlowe.org/tools-programs/economic-gardening The Missouri Small Business & Technology DevelopmentThe Missouri SBTDC is proud to offer economic gardening Centers, which are the lead service providers for companiesto the small businesses of Missouri. If you think this type of that are new-to-export. They will help you assess yourprogram is right for you, please contact: readiness for exporting, develop your export plan, conduct initial international market research to aid you in selecting yourPaul Bateson target markets, facilitate your connection to other state, federalUniversity of Missouri – Extension and private sector resources and integrate services from ourSmall Business & Technology Development Center (SBTDC) other statewide programs, such as the Missouri Procurement(573) 882-9976 Technical Assistance Centers or the Trade [email protected] Assistance Center. Services are offered through educational sessions or individualized business counseling.International Marketing The Missouri Department of Economic Development offers a variety of new-to-market services that include makingWhy Export? Because the global market is huge! More than prescreened contacts for Missouri firms in countries in which96 percent of the world’s consumers live outside the U.S. And the department has staff, coordinating tradeshow and tradetwo-thirds of the world’s purchasing power resides outside the missions for Missouri companies, providing customizedU.S. Our nation has 14 free trade agreements with 20 countries. company missions, identifying market opportunities, obtainingAnd, it’s important to note that 97 percent of U.S. exporters are certificates of free sale, accessing financing for export-readycompanies just like yours – small to medium sized businesses. companies, clarifying regulations and facilitating contact with department staff in other countries.Specialists in the International Trade Network can help your The U.S. Commercial Service focuses on assisting new-company grow revenues and create jobs by expanding to-market companies by providing the Gold Key Service,into global markets. Through counseling services, training International Partner Searches, Verified Contact Lists andopportunities and programs, specialists will help you: International Company Profiles. The Commercial Service can assist with country-specific rules and regulations, new-to-
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GROWING YOUR BUSINESS Continued from page 47 Missouri trade specialists all have professional certification through NASBITE International. All have completed the Certified Global Business Professional training. They are uniquely qualified to assist your company in lessening your dependence on domestic markets and entering the international marketplace. For more information or to request assistance, contact: SBTDC International Trade Center Larry Dill, State Director (314) 899-9858 [email protected] Or Missouri International Trade & Investment Office Ann Pardalos, Manager (573) 751-6605 ann.pardalos.ded.mo.govtĞŽīĞƌƚŚĞĨŽůůŽǁŝŶŐƐĞƌǀŝĐĞƐ͗ Tami R. Benus, CPAWƌĞͲWƌĞƐƐ &ŽůĚŝŶŐ Taxes
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