LIHU‘E — The Kaua‘i Small Business Development Center (SBDC), a program of the University of Hawai‘i at Hilo, is hosting a Zoom seminar on “How to Start a Business on Kaua‘i.”
The seminar will be from 9 a.m. to noon on Thursday, Nov. 5.
“Join us for our last webinar in 2020 on How to Start A Business on Kaua‘i,” Center Director Robbie Melton said. “You may be thinking about it, have just started your business, or thinking about expanding your business, join us. Not a good day or time for you? Register and you will get the recording and the slides.”
Melton said there are a lot of things to consider when starting a business.
“The most important is how do you know people want your product or service?” Melton asked. “What type of company do you want to be? How will you get customers and the most important, how much money do you need to get started and operate?”
Melton said this workshop is for people thinking about starting a business or in the early stages of their company.
“If people are can’t attend but are interested, they should register so they can get the recording and slides,” Melton said.
The U.S. Small Business Administration (SBA) said if people who want to start a business should market research and competitive analysis, write their business plan, calculate their startup costs, find ways to fund their business, and think about buying an existing business or franchise instead of starting from scratch.
SBA said start-up businesses should identify their startup expenses. Most businesses fall into one of three categories: Brick-and-mortar businesses, online businesses, and service providers.
“You’ll face different startup expenses depending on your business type,” SBA said.
According to SBA, calculating startup costs helps the new business owners by estimating profits, creating a breakeven analysis, securing loans, attracting investors, and save money with tax deductions
SBA said the key to a successful business is preparation.
“Before your business opens its doors, you’ll have bills to pay,” SBA said. “Understanding your expenses will help you launch successfully.”
Register here: https://clients.hisbdc.org/workshop.aspx?ekey=3400007.