Starting a business, working with banks and the worth of a business are the subjects of three free business workshops to be offered next month through Rend Lake College’s Small Business Development Center.
“How Much is Your Business Worth?” (WKSP 5060) will be held from 6 to 9 p.m. Tuesday, Aug. 22, in Room 203 at the Rend Lake College MarketPlace. The workshop will be led by long-time businessman and consultant Pete Bradham, owner of the Bradham Group.
This in-depth workshop will cover the primary methods of business valuation. Participants will learn what factors really affect the value of a business and how to perform the “Acid Test” to determine price justification. This is a must for anyone who is transferring ownership to an outside buyer, family or employees. Attendees will learn what they need to know to make the right decisions and to redeem the best price.
“How to Start a Business in Illinois / Illinois Finance Authority” (WKSP 5305) will be offered three times: 9 a.m. to noon Saturday, Aug. 19; 9 a.m. to noon Saturday, Aug. 26; and 6 to 9 p.m. Tuesday, Sept. 19. These workshops will be led by Curt Mowrer, Director of the Rend Lake College Small Business Development Center, and Rick Pigg, IFA Funding Manager.
Topics to be covered include services available through the SBDC, legal structures for small business, registering a business, employee issues, developing a business plan, and financing options. This workshop is a must for prospective business owners.
The Illinois Finance Authority effectively functions as the state’s investment banker, with a $23 billion bond capacity and a full range of bond, lease, loan and venture capital offerings – ready to participate in projects with those wanting to start a business. Pigg will explain these and other aspects of the IFA.
“Dealing with Banks” (WKSP 5359) is set for 9 a.m. to noon Tuesday, Oct. 10, in Room 354B of the MarketPlace. It will be led by Jim Flagg, Vice President for People’s National Bank. Dealing with banks can be confusing for those unfamiliar with how the lending institution views business lending. This workshop will give the attendee a practical guide to dealing with the local banker. A basic review of commercial financing will also provide the insight needed to deal with bankers logically in order to succeed in a funding objective. A question-and-answer session will be included in the agenda.
Because of the generosity of the volunteer instructors, these classes will be offered at no charge. These workshops are made available through a cooperative agreement among the Department of Commerce and Economic Opportunity, the U.S. Small Business Administration and Rend Lake College.