University of Delaware’s Small Business Development Center (SBDC) is currently scheduling free one-on-one sessions with those currently doing business in New Castle County, or those interested in starting a business due to downsizing.
Experienced business counselors are now scheduling free one-hour sessions with individual business owners and entrepreneurs on Wednesday, March 9 between the hours of 10 a.m. and 3 p.m. at the Blue Ball Barn, 1914 West Park Drive in Wilmington, or between the hours of 9 a.m. and 4 p.m., on Thursday, March 10 at the University of Delaware Technology Park, One Innovation Way in Newark.
“Delaware’s business climate is rapidly changing,” said Bill Pfaff, Director of the SBDC in Southern Delaware. “How resilient are you when it comes to coping with the effects of corporate downsizing, implementation of your business plan, weather preparedness or cybersecurity issues?”
With DuPont downsizing and potential changes ahead for AstraZeneca, Johnson Controls and Capital One, now is the perfect time to reassess business strategy and the demographics of your customer base, he added. Businesses also need to prepare for weather impacts such as flooding, as well as cybersecurity, loss of key personnel and changes in clientele, Pfaff said.
During the free sessions, counselors will help businesses identify and then get prepared for the changes in business environment. Information to be covered includes:
- Reevaluating current and future customer demographics;
- Solving a cash crisis by getting organized, setting priorities and critical business activities;
- Getting a handle on accounting processes and accounts receivables;
- Evaluating price increases and costs savings including possible reduction in staffing;
- Negotiating with creditors;
- Reducing inventory;
- Assessing the resiliency of the business from downsizing, cybersecurity, weather-preparedness or staffing issue (businesses will receive a free Disaster Protection and Recovery Planning Toolkit);
- Ensuring the business portrays a positive image; and
- Reassessing the current marketing strategy to meet future needs.
To register for the one-on-one sessions, contact the SBDC at 302-856-1555. The program is free, but space is limited.
The Delaware Small Business Development Center, a unit of the University of Delaware Office of Economic Innovation and Partnerships, is funded in part through a Cooperative Agreement with the U.S. Small Business Administration and in part through the State of Delaware.
