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SBA Definition of “In Business”

Learn how to determine if you meet the SBA definition of being "in business" and the steps to complete the required registration and documentation to qualify. Discover resources like the Feasibility Workbook and prospect tracking for assistance.

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SBA Definition of “In Business”

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  1. SBA Definition of “In Business” They MUST HAVE completed required registration (s), if applicable, with the local, state, and/or Federal government (e.e. DBA registration, get a business license, agency issued tax identifications, etc.) AND at least ONE of the following: • Has documented a transaction from the sale of a product or professional or personal service for the purpose of gain or profit; • Has contracted for or compensated an employee(s) or independent contractor(s) to perform essential business functions; • Has acquired debt or equity capital to pursue business operations (e.g., to purchase inventory, equipment, building, business, etc.) or • Has incurred business expenses in the operation of a business. Intake Process powerpoint: September 14, 2007

  2. Tools • New SBDC Website • Smart Start • Grow Smart • eCenterDirect • Smart Start Assessment

  3. Issues • SBA counts “business starts” • Because of the SBA’s generous definition more people are classified as in-business and may qualify for an appointment • Fewer people will be nascent • Reduces the number of “business starts” • ‘Business starts’ is counted by SBA • Conflicts with SBDC goal of servicing “dreamers” by services other than counseling. SBDC may add another layer to further qualify clients

  4. Virtual Classroom Resource links Feasibility Workbook Prospect Receives Custom Guidesheet Explore on your own Client enters via SBDC Website Direct to Smart Start Assessment Prospect Completes Smart Start Assessment Client reads welcome message with instructions Prospect may be directed to e-center BASED ON SCORE Data also entered into a master database and sent to regions by e-mail Select Smart Start SBDC Staff performs monthly Prospect tracking/follow-up to track progress

  5. Select GROW SMART Qualifying Question: I've never been in business, and I have an idea. I'm not sure how to move forward. I'm not in business yet, but I've done a few things, and I'm not sure how to move forward. I have been in business before, but I am interested in starting a different business. I have been operating my business and have paid taxes but am concerned about the lack of growth. I have started my business but have not been able to make many (or any) sales. I've been in business a year or more and have made sales, but my sales are now declining. Sales are fine, I'm looking to expand. Sales are fine, I'm looking for specific technical help on financing or technology. I am in business, none of the above applies, but I still need help. NOT YET IN BUSINESS (first two responses) Redirect to Smart Start Area/Smart Start Assessment Tool Client enters via SBDC Website Client reads welcome message with QUALIFYING QUESTION. IN BUSINESS (7 lower responses) E-Center Direct for Appointment Region Responds

  6. Refer to Smart Start Button on Website to complete Entrepreneur Readiness Assessment Not in business Use standard intake process based on SBA definitions to determine client status Client calls/visits Regional Office Existing/Grow Smart Make Appointment

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