b'SGAMAG: What are some of the common challengesSGAMAG: In addition to the SBDC, what other with starting a small business?resources are available to help small businesses Funding and strategic planning are the two most commoncontinue to grow and be profitable?challenges for small businesses. Having a lack of capital createsAs we consult, we advise clients to have a team of people to call cash flow issues, and weak pricing strategies, along withon if they have a concernwe call this the BAIL teambanker, poor financial management, hinders a strong start for startupaccountant, insurance, and legal. This team would not be on businesses. Its vitally crucial for startup businesses to researchthe payroll but would be called to assist in making decisions. and plan before anything else. In addition to this team, the local city and county government offices are excellent at addressing questions, and local SGAMAG: How can the SBDC help with thesechambers will also help with networking opportunities. challenges? Consultants with the SBDC are equipped with tools and resources to assist in cost projections and industry reports. Traditional banks are one way to gain funding, but there is aSBDCmultitude of other ways to seek the funding needed to start the new business. Most industries have set standards for pricing, and the SBDC has access to that information to educate ourOFFICEclients on where they should begin with their pricing models. Scheduling a time to meet one-on-one with a consultant is theLOCATIONSfirst step to help with these challenges.SGAMAG: What are the primary steps to starting a small business?ALBANY GWINNETTResearching the industry and writing a business plan is the first229.420. 1144 678.985.6820step to start a business. Whether funding is needed or not, its vital an owner knows everything there is to know about thatATHENS KENNESAWindustry and its market. Then research and comply with all706.542.7436 470.578.6450local, state, and federal requirements for the business. Lastly, determine the best location for this business based on the targetATLANTA MACONmarket. 404.413.7830 478.757.3609SGAMAG: Does the SBDC assist with financing optionsAUGUSTA MORROWfor a small business?706.650.5655 678.466.5100Our office does not lend money, but we do assist with preparing cost projections and reports for financial institutions to makeBRUNSWICK ROMEtheir decision. We have financial institutions that we can suggest912.264.7343 706.622.2006if a client requests, but we encourage our clients to have local banking relationships since the local banks know their market. CARROLLTON SAVANNAH678.839.5082 912.651.3200SGAMAG: What are some of the obstacles small business owners encounter in the first year? COLUMBUS STATESBOROThe first year is the most exciting, but it can also be the most706.569.2651 912.478.7232frustrating year. Funding, processes, labor issues, and pricing effectively are all major obstacles in the first year. These can beDEKALB VALDOSTAattributed to a lack of planning and research before opening the770.414.3110 229.245.3738business; therefore, we strongly encourage all startup businesses to write a business plan before ever opening a door. GAINESVILLE770.531.5681 20 SG MAGAZINE| FALL 2019 BUSINESS + CULTURE21'