Financing for your business
Do you need help securing the capital to launch or grow your small business? The UAlbany SBDC has worked with a wide range of lending institutions, crowdfunding platforms and other sources of capital to secure the funds needed to purchase equipment or property, or for working capital to operate your business. A UAlbany SBDC business advisor can identify the most likely funding options, including the SBA’s 7(a) and 504 loan programs, and begin “packaging” your financial request.
Developing financial projections
Forecasting realistic financial projections is crucial to both effectively plan for your business’ growth as well as to potentially secure financing from prospective lenders and/or sources of equity. A UAlbany SBDC business advisor can help you understand and develop financial statements, and analyze how to improve its cash flow and profitability.
Marketing & Sales
In a competitive market place it is crucial to communicate the benefits of your products/services and develop your strategy to continually grow the sales of your business. A UAlbany SBDC advisor can work with you to develop effective marketing and sales strategies, including an expanded social media presence as well as creating/improving a website.
The UAlbany SBDC has a breadth of experience helping its clients write a business plan, the “roadmap” for a business venture. A formal business plan is recommended whether or not you are seeking funding, as it helps the entrepreneur focus on their goals and ensures that they concentrate on business priorities. Click here for a good format from the SBA to follow, or learn more about EntreSkills, an online resource that walks entrepreneurs through how to develop a business plan.
Selling to the Government
City, State and Federal agencies purchase billions in goods and services each year. If your small business does construction work or a wide range of other services, a UAlbany SBDC business advisor can help you identify and submit for relevant contract opportunities.
Support for Minority and Women-owned Businesses (MWBEs)
UAlbany SBDC advisors work closely with relevant Government agencies to help our MWBE clients with certification and to access financing and contract opportunities.
Researching your target market will help you determine if your product or service has potential. As a member of the NYS Small Business Development Center network, the UAlbany SBDC can offer its clients free access to demographic, economic and other key market research available through our Research Network. Click here to learn more.
A UAlbany SBDC advisor can provide invaluable guidance on how to manage your business, from handling licenses and regulations, dealing with suppliers, hiring & managing staff, and explaining basic accounting concepts.
Business start-up assistance
Starting a business can be more complex and take longer than you expect. So before making financial or life changing commitments (like signing a lease or quitting your day job), meet with a UAlbany SBDC business advisor to help you bring your idea from concept to reality.
Legal Forms of Business Structure
Will your business be a sole proprietorship, corporation, limited liability partnership or not for profit? The UAlbany SBDC can help explain the respective obligations and responsibilities and guide entrepreneurs through the process of forming their legal structure.
International Trade & Export Assistance
A UAlbany SBDC advisor can help Identify avenues for exporting goods and services and entering international markets.