Submitted report
McALESTER —
The McAlester Campus of Kiamichi Technology Center will soon begin a Starting & Running a Business 101 class. The series of six classes begins Oct. 1 and will meet from 6:30 to 9:30 p.m. The enrollment fee is $75.
According to Karl Scifres, coordinator of Small Business Services at Kiamichi Tech, there has been an increase in the past several months in individuals calling with questions about starting a small business. Small Business 101 is designed to give students the basic information needed to start their own business.
The six sessions of Small Business 101 will teach students basic business techniques. Specifically, the classes will cover:
• Introduction to Entrepreneurship
• Developing a Business Plan
• Legal Issues and Risk Management
• Promoting Your Business through Effective Marketing
• Recordkeeping and Tax Compliance
• Financial Management and Lending Programs for Small Business.
“Those who will benefit the most from Small Business 101 are those individuals who have plans to start a new business in the near future or who have an existing business and desire assistance in making their business more efficient,” Scifres said
Starting and expanding a small business can be risky at any time. According to the U.S. Small Business Administration’s Frequently Asked Questions, two-thirds of new businesses survive for two years or longer, 44 percent can survive at least four years, and 31 percent survive at least seven years.
Their research also showed that businesses that survive for four years have a better chance of surviving long-term. After those four years, the rate of firm closings declines considerably.
In addition, research by the SBA has also found that the major factors in a firm’s survivability include an ample supply of capital, being large enough to have employees, the owner’s education level, and the owner’s reason for starting a business.
In addition to the classes, Scifres offers individual assistance to the small business client that ranges from business plan assistance to record keeping to the development of a strategy for marketing the business.
“We are often able to draw on the expertise of other staff and faculty members at Kiamichi Tech in order to help with specific challenges faced by the small business owner,” Scifres said. “My goal is to do everything I can to help the entrepreneur succeed.”
One of the primary goals of Small Business 101 is to help the small business owner successfully manage his or her business. This is especially important since the United States SBA reports that most new businesses that fail, do so not because of a lack of skill or technical know-how but because of a lack of management ability. They just aren’t able to manage the business successfully.
“One of the main purposes of the Small Business 101 program is to provide training in the areas of business planning and management in order to help lower the high percentage of business failures,” Scifres said.
For more information about Small Business 101, contact Scifres at 888-567-6630 or kscifres@ktc.edu.
