Stacy Adam, Van Wert Economic Development Director
Stacy Adam, Van Wert Economic Development Director

VAN WERT – The Van Wert Area Economic Development Corporation has designed a series of workshops to help area residents get started on the right path developing a new business. Free one-on-one counseling is part of this workshop process.

Part one of the Business Plan Challenge is designed to help residents understand the basics of:

_ The concepts involved with assessing a business idea,

_ Marketing your product of service,

_ Understanding business financials and how they work, and

_ How to find and finance your business.

Five sessions will begin on Thursday, Feb. 20, 2020, at 6 p.m. and continue for five success nights through April 16, 2020, at 6 p.m.

Sessions continue the following optics: Start-up basics, Business plan basics, Marketing plan, Cash flow 101, and, Funding sources.

“The final session offers information on how to finance your small business,” commented Stacy Adam, Executive Director, Van Wert Area Economic Development. “Managing cash and securing capital are the two biggest challenges faced by start-up business owners.

“The Business Plan Challenge will assist you with the key decisions to get your business started,” continued Adam. “Through a series of group of instruction sessions, experienced entrepreneurs and business professionals will help prepare for the launch of your business. This challenge will help you develop a viable business model and help you develop the materials needed for the funding that any business to start.”

Saturday morning, Feb. 8, an entrepreneurship workshop, sponsored by the Van Wert Area Economic Corporation was held at Ken-Feld Group, LLC, in Van Wert. It was headed by Adam.

One of the main learning opportunities included, “Ask the Expert Panel,” covering such areas as, “Legal,” Keri McClure, “CPA,” Andrew Bashore, “Realtor,” Bob Gamble, “Finance,” Gary Reichert, “Insurance,” Michele Mooney, Purmort Brothers Insurance, and “Marketing,” Marie Miller.

In order to help quick-start your business, Ohio Secretary of State Frank LaRose put together a checklist of 10 important things you may want to consider.

1. Register with the Ohio Secretary of State.

2. Obtain a federal Employer Identification Number.

3. Open a bank account.

4. Register with the Ohio Department of Taxation at Tax.Ohio.gov.

5. Report newly-hired and re-hired employees to the Ohio New Hire Reporting Center.

6. Determine what may be required of your business by the Ohio Bureau of Worker’s Compensation.

7. Identify requirements of the Ohio Department of Job and Family Services.

8. Obtain the proper licenses and permits.

9. File an Annual Report of Unclaimed Funds.

10. Discover growth opportunities for your new business.