The West Virginia Small Business Development Center in Buckhannon has been busy lately helping area men and women begin their own venture.
Wednesday, SBDC Business Analyst Vicki Karickhoff told Elkins-Randolph County Chamber of Commerce members during their quarterly meeting about the services the state agency provides. The SBDC is a part of the West Virginia Development Office, and the Buckhannon office is a partner with Pierpont Community and Technical College.
In all West Virginia counties, the SBDC offers assistance to current and future business owners, and even community organizations. Several opportunities are include the Three Step Jump Start training to receive business training throughout cities across West Virginia. Information about the Jump Start training can be obtained by calling the Charleston SBDC office at 304-558-2960.
Karickhoff explained that financial assistance and related problems are often concerns for those wanting to expand or begin a business, and she receives many questions about the availability of grants.
"It's unfortunate, but true, that the federal and state government do not have grants available for starting a business," Karickhoff said. "We do provide a consultant to help you through that process (obtaining funding)."
Because of the economy, it's difficult to obtain commercial loans, she said.
"It's the riskiest type that is lending out there," Karickhoff commented. "When you go to your lender and you're not fully prepared, it's not uncommon to receive a denial. The reason being, the lenders are looking out for their stakeholders; and they have to."
The federal Small Business Administration will guarantee loans if a person has a deficiency that might hinder the loan process; however, Karickhoff says the best option is to work with a local loan officer. She added that talking to a local lender enables the business person to talk about options.
Locally, Karickhoff assists and teaches students at YouthBuild and the Randolph County Housing Authority.
"It's my favorite part of the job," she added.
The students at YouthBuild attend business classes and receive certification from the West Virginia Development Office and Pierpont Community and Technical College.
"With the participation of the local community and businesses, students have been able to interact with people who they may not have come in contact with," Karickhoff said.
Another SBDC project is getting ready to begin in Doddridge County. The Mountain State Natural Quality Beef Initiative will teach the fundamentals of business to individuals by focusing on how to operate an agricultural business.
Karickhoff said she has seen several clients who have been in her office to establish a small business that enables them to utilize their trade or marketable skill after they have been laid-off.
"We're also working with a lot of businesses that are spin-offs of the oil and gas industry," she added.
ERCCC Executive Director Robbie Morris told the crowd that the chamber has been working to increase its membership and provide more opportunities.
Contact Carra Higgins by email at chiggins@the intermountain.com.
