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The SBTDC at UNC Wilmington is affiliated with the UNCW Cameron School of Business and is located next to the UNCW Center for Innovation and Entrepreneurship. Our experienced business advisory team offers confidential, in-depth business counseling to small- to mid-sized company business owners and management staff and to entrepreneurs preparing to launch their next venture.
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Heather McWhorter
Regional Director
910.962.4248 or
Robin Bennett
Business Counselor
910.962.3744 or
Diane Lantz
Business Counselor
910.962.2869 or
Gloria Monroe
Business Counselor
910.962.7307 or
Jamie Stalfort
Business Launch Specialist
910.962.0537 or
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Welcome to the newsletter of the University of North Carolina Wilmington (UNCW) Small Business and Technology Development Center (SBTDC). The goal of the UNCW SBTDC is simple: to empower business owners and entrepreneurs to make businesses in southeast NC more competitive and more profitable. In 2018, our staff helped more than 500 entrepreneurs and small businesses to start, grow, and prosper. If your small business needs assistance with startup and growth, contact your SBTDC Business Counselor today.
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Has your business recovered fully from all of the impacts of Hurricane Florence? If you are like most, the honest answer is "no". There are two loan products to remember:
SBA Economic Injury Disaster Loan -
SBA can provide loans to help your business meet financial obligations and operating expenses that could have been met had the disaster not occurred. Your loan amount will be based on your actual economic injury and your business' financial needs, regardless of whether the business suffered any property damage.
Terms are up to $2 million for up to 30 years at 3.675% when qualified.
https://disasterloan.sba.gov/ela/Information/EIDLLoans
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As your business continues to recover from Hurricane Florence and you build resilience in your business in case another disaster strikes, strategies to consider may include:
1.
Was your disaster loan application denied? Explore options for addressing comments and re-submitting the application. Research other loan options. Talk with your SBTDC counselor to learn more.
2.
Are additional marketing strategies needed? After the hurricane, many business owners were impacted by a decrease in customers visiting their retail stores, a decrease in tourists visiting the region, or missing a key trade show necessary for the future sales. Develop and implement corrective marketing and advertising strategies to let customers know that you remain open for business.
3.
Are your key milestones on track? You may need to check in with your Business Plan or Annual plan. What corrective strategies need to be implemented?
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Is your insurance coverage adequate? Review your policies with a professional to ensure that your business is covered from unexpected events. If you lease space, fully understand landlord vs. tenant responsibilities.
5.
Do you need to obtain or expand your line of credit? For long-term success of your business a line-of-credit that is already in place can help your business to get through unexpected events and expenses such as a drop in sales that can result from a disaster.
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Please join us in welcoming Jamie Stalfort to the UNCW SBTDC. Jamie, a Business Launch Specialist, is part of a new specialized service being offered statewide by the SBTDC to help people turn ideas into businesses. Jamie, a native of Wilmington and UNCW graduate, has worked and interned with several well-known companies in our region such as Aruza Marketing, KWIPPED, and IronGate Partners.
Watch for new workshops and programs that she will be rolling out to help spur entrepreneurship in our region! Jamie can be contacted at
stalfortj@uncw.edu
or 910.962.0537.
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STARTUP WEEKEND WILMINGTON
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Do you have an idea you'd like to pursue or a problem you'd like to solve but don't know where to start or who to start with? Startup Weekend Wilmington is the place to look for a team, create a prototype of your idea, validate your business idea, and receive feedback from experienced entrepreneurs, all in one weekend.
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Friday, March 29 5:00 PM - Sunday, March 31
UNCW Center for Innovation and
Entrepreneurship
(CIE)
803 S College Rd, Wilmington, NC
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RECESSION PROOF YOUR BUSINESS
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In our office, our Business Counselors have been thinking about a potential recession and how that could impact our clients. Below are some articles to read about recession proofing your business:
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OSHA: KNOW YOUR REQUIREMENTS
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Did you know that small businesses with one or more employees are required to comply with the U.S. Occupational Safety and Health Administration (OSHA) regulations? The UNCW SBTDC is holding a free seminar on Monday, April 15 from 1:00-2:30 p.m. so you can have an introduction to occupational safety and health requirements as a general small business. You will learn about OSHA, your responsibilities, and how OSHA inspections are conducted. The "Top 10" frequently cited standards by OSHA will be reviewed with tips about how to meet the requirements. Register now at:
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HOW TO HIRE A UNCW INTERN
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Are you interested in hiring a paid summer intern? This can be incredibly rewarding for both you and the student that you hire. Our clients are starting to think about hiring UNCW summer interns to provide educational experience for them, while finding potential talent for their business and moving projects forward. We are often asked, how do we start? The process for creating an internship is similar to creating a new staff position at a business. Start by determining who the intern will report to and who will mentor them. Next, write the position description and determine your requirements for applicants. Perform interviews and background checks. Onboard the intern and ensure that they have an enriching experience while at your business.
Since an internship has defined start and end dates, consider developing an interesting project that can be learned and accomplished in that time period. Additional information and the location for posting internships is at
https://uncw.edu/career/handshake.html
. Contact your Business Counselor for additional guidance.
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