Offering the Right Tools for Entrepreneurs
Starting or expanding a business can be an intimidating experience and requires a great deal of work and research before the first customer is ever served. Entrepreneurs often have many unanswered questions. MDA has developed the Entrepreneur’s Tool Kit to answer those questions and help entrepreneurs pull together the necessary information to start or expand a business.
To secure capital and stay on course, entrepreneurs are required to write a business plan, conduct market research, provide financial projections, and follow state and federal tax and reporting guidelines among other items. The Entrepreneur’s Tool Kit includes: Top Twenty Most Asked Questions, A Guideline for Preparing a Business Plan, Reporting Requirements, Selective Business Financing Available and Business Resources. Each section provides valuable tools to guide business owners along the right path. Knowledgeable MDA staff members are available every step of the way from analyzing business statements, developing marketing strategies, assisting with loan applications or advising on budgeting and cash flow.
Anne Robertson, owner of Quilt Arts in Flowood, used the Entrepreneur’s Tool Kit to jump start her plans to start a quilting store. MDA’s Existing Industry and Business staff also provided counseling to help her prepare a business plan and financial analysis. Since opening in November 2007, Quilt Arts has enjoyed much success. Today, the store offers quilting classes, provides Statler Stitcher Long Arm services, ships fabrics to customers all over the globe and sells quilts by artisans from around the United States. Also by working with MDA, Robertson made the decision to establish a business model that included environmentally friendly business practices, such as recycling energy-saving electronics and offering a full line of “green” cleaning products for sale.
Recently, the owner of Craft Products decided to add to the company’s product lineup by manufacturing custom furniture and architectural products in addition to the custom metal work the company has produced for more than 16 years. Starting with the resources available in the Entrepreneur’s Tool Kit, MDA assisted Craft Products in preparing a business plan that has enabled the company to secure much needed capital for expansion of equipment and marketing materials. The company was able to borrow the necessary funds and is now serving new customers while keeping traditional business opportunities a part of the original business model.
By utilizing the Entrepreneur’s Tool Kit, business owners around Mississippi are able to find the right resources to propel their businesses forward. Whether just starting a business endeavor or striving to expand an existing business, entrepreneurs can rely on MDA to provide the assistance and guidance that businesses need to succeed in today’s market.
Entrepreneurs seeking more information should contact MDA’s Existing Industry and Business Division at 601.359.3593.
Entrepreneur’s Tool Kit
A must for every new business owner. A comprehensive manual to help you succeed.
Mississippi Market
The South's premier order-only wholesale show where Mississippi companies can promote their products and services to credentialed retail buyers from all over the Southeast.
MDA Library & Resources
Almost everything you need to know about living and working in Mississippi, all in one place. Find key facts, statistics, articles, maps, forms, data banks, and plenty of important links all at your fingertips.
