NEWS RELEASE
Andres Chagolla/Nelson Mitchell–MCbiz Team
602-506-2249 / 602-50MCbiz
achagolla@mail.maricopa.gov
mitchelln001@mail.maricopa.gov
SMALL BUSINESSES PREP FOR ECONOMIC REALITIES
In these economically challenging times, what must small businesses do to ensure their success? There are no easy answers and the correct response may depend on a variety of specific circumstances that perplex small business owners.
Some of the answers were recently presented to a group of small business owners at a MCbiz Small Business Workshop at the Avondale City Library. MCbiz is a County organization that connects small businesses with County agencies ready to purchase a variety of goods and services.
“One way for small businesses to survive is to find more customers. Maricopa County routinely provides procurement opportunities to small businesses through a competitive, low-bid process. But first, those businesses must register and self-certify to be contacted to provide a bid for the goods or services that County departments need,” said Andres Chagolla, MCbiz program manager.
Another workshop presenter, Samantha Thornton, Wells Fargo Bank, pointed out that in these tough economic times, some businesses find it difficult to obtain loans that might sustain them. She suggested 10 ways for small businesses to imbue themselves to lenders. “Banks will not give loans unless businesses can prove they are worthy. A stellar credit history and a well-formulated business plan may tip a bank that a business loan applicant is worth the risk, for example.”
Connie Nelson and Cecilia Guerrero of American Family Insurance focused their discussion on how small businesses can protect themselves from unplanned incidents. Whether the business has suffered a theft of property, a loss due to equipment malfunction, or a catastrophic event such as an owner’s untimely death, businesses should be prepared to effectively reduce the negative impact of such events. “What is key is that all significant bases are covered, which means that we sometimes need to be creative with the insurance protection offered,” said Guerrero.
According to workshop participant Jessica Harden, environmental manager, Epsilon Engineering Consultants, Inc., “The MCbiz SBE program is a great avenue to reach out to small businesses such as ours. I found the workshop both enjoyable and informative and we look forward to involvement in opportunities provided by this program.”
For more information about the Maricopa County’s Small Business Enterprise Program--MCbiz and its small business workshops, please visit www.maricopa.gov/mcbiz.
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