SCORE

How to Start Planning Now for Your Own Business in 2024

Retrieved on: 
Wednesday, December 13, 2023
Growth, Family, Commerce, Mentorship, SCORE, Outline, Friends, Small business, Management, Marketing

WASHINGTON, Dec. 13, 2023 /PRNewswire/ -- Half of new businesses fail within the first five years, and poor business planning is a contributing factor, according to the U.S. Chamber of Commerce. Those first few years are crucial, which is why SCORE – mentors to America's small businesses – recommends entrepreneurs build their business on the foundation of a strong business plan.

Key Points: 
  • "Creating a business plan is essential for small business owners as it helps outline and set clear goals and objectives for the business," explains SCORE mentor LaRita South.
  • Additionally, a well-crafted business plan can attract investors, secure funding, and provide a roadmap for long-term success."
  • A business plan typically has four sections: the executive summary, business details, financial forecasts and supporting data.
  • The summary does just what the name implies: sums up all the information in the business plan.

SCORE Foundation Secures Grants for Financial Educational Training for Small Business Owners

Retrieved on: 
Monday, November 20, 2023
Steps, Organization, SCORE, Small business, BBB National Programs, Local, LPL, Education, Financial adviser

WASHINGTON, Nov. 20, 2023 /PRNewswire-PRWeb/ -- The SCORE Foundation, the philanthropic arm of SCORE, the nation's largest network of volunteer, expert business mentors, today announced that the LPL Financial Foundation and Glenn W. Bailey Foundation will support SCORE's education and training programs for small business owners that will focus on improving their financial literacy and overall business acumen. Both Foundations supported other SCORE educational offerings last year. The SCORE Foundation collaborates with organizations across diverse industries to underwrite SCORE's services that help founders gain necessary skills to increase their success.    

Key Points: 
  • The LPL Financial Foundation and Glenn W. Bailey Foundation Provide Funding for Local and National Programs Offered Through SCORE
    WASHINGTON, Nov. 20, 2023 /PRNewswire-PRWeb/ -- The SCORE Foundation, the philanthropic arm of SCORE , the nation's largest network of volunteer, expert business mentors, today announced that the LPL Financial Foundation and Glenn W. Bailey Foundation will support SCORE's education and training programs for small business owners that will focus on improving their financial literacy and overall business acumen.
  • The SCORE Foundation collaborates with organizations across diverse industries to underwrite SCORE's services that help founders gain necessary skills to increase their success.
  • "Managing cash flow, accessing working capital, budgeting and handling unforeseen expenses are among the top financial challenges for small businesses," said Liz Sara, president of the SCORE Foundation.
  • "Managing cash flow, accessing working capital, budgeting and handling unforeseen expenses are among the top financial challenges for small businesses," said Liz Sara, president of the SCORE Foundation.

How to Prepare For a Successful Small Business Saturday

Retrieved on: 
Thursday, November 16, 2023
Small Business Saturday, Mentorship, Small business, American Express, Marketing, Social media, EST, Volunteering, Environment, Education, Retail, Hotel, SCORE

WASHINGTON, Nov. 16, 2023 /PRNewswire/ -- More than half of small business owners expect Small Business Saturday to impact their holiday sales significantly this year, according to a recent American Express survey. With Small Business Saturday approaching, now is the perfect time for small business owners to prepare for the holiday rush and encourage customers to shop small. As mentors to America's small businesses, SCORE offers support through free expert business counseling and online resources – including these top tips to navigate the busy holiday season.

Key Points: 
  • WASHINGTON, Nov. 16, 2023 /PRNewswire/ -- More than half of small business owners expect Small Business Saturday to impact their holiday sales significantly this year, according to a recent American Express survey.
  • With Small Business Saturday approaching, now is the perfect time for small business owners to prepare for the holiday rush and encourage customers to shop small.
  • As mentors to America's small businesses, SCORE offers support through free expert business counseling and online resources – including these top tips to navigate the busy holiday season.
  • Why will customers want to spend time at your small business this holiday season?

Envestnet Launches Envestnet Retire Complete--Providing Advisors Access to a Competitive Retirement Savings Program for Clients

Retrieved on: 
Tuesday, November 14, 2023
Eye, Senior, Organization, Investment, Risk, CFA, Convention, SCORE, Element, Retirement, Empower, Customer communications management, Envestnet, Elevate, ERISA, Financial adviser

BERWYN, Pa., Nov. 14, 2023 /PRNewswire/ -- Financial advisors can now offer retirement plan sponsors access to a cost-effective, streamlined plan solution with fiduciary and investment support. The solution, Envestnet Retire Complete—a new offering from Envestnet in collaboration with retirement services provider Empower—can help strengthen the opportunities for participants to achieve a more secure retirement.

Key Points: 
  • BERWYN, Pa., Nov. 14, 2023 /PRNewswire/ -- Financial advisors can now offer retirement plan sponsors access to a cost-effective, streamlined plan solution with fiduciary and investment support.
  • The solution, Envestnet Retire Complete—a new offering from Envestnet in collaboration with retirement services provider Empower—can help strengthen the opportunities for participants to achieve a more secure retirement.
  • Envestnet Retire Complete combines Envestnet's fiduciary guidance and investment due diligence with Empower's personalized communications and investments to help more employers provide competitive 401(k) plans.
  • "Together, we can enable more organizations to offer a competitive benefits package for attracting and retaining top talent."

Bank of America doubles support for Veteran Loan Fund to Aid Growth of Veteran-Led Small Businesses throughout Texas

Retrieved on: 
Wednesday, November 8, 2023
Bank, Community development financial institution, Bank of America, Small business, NYSE, Military personnel, New Markets Tax Credit Program, Veteran, Spouse, BAC, Digital, Risk management, Community development, Enterprise Community Partners, CDFI, Investment, SBA, Nidec-Shimpo America Corporation, SCORE, Real estate

AUSTIN, Texas, Nov. 8, 2023 /PRNewswire/ -- PeopleFund is honored to be one of twelve Community Development Financial Institutions (CDFIs) announcing the expansion of the Veteran Loan Fund, with Bank of America as the lead capital investor. Bank of America is seeding a second round of financing for Veteran Loan Fund, doubling a two-year-old commitment that has already funded more than 500 small businesses built by former military personnel across 37 states.

Key Points: 
  • Bank of America is seeding a second round of financing for Veteran Loan Fund, doubling a two-year-old commitment that has already funded more than 500 small businesses built by former military personnel across 37 states.
  • "PeopleFund is deeply proud of representing the Veteran Loan Fund in Texas," said Gustavo Lasala, President and CEO of PeopleFund.
  • PeopleFund, an Austin-based CDFI and managing member of the Veteran Loan Fund, helps underserved veteran entrepreneurs across the state of Texas.
  • Close to 30% of this lending activity took place since July 2021 and was supported by the Veteran Loan Fund.

BofA Doubles Support for Veteran Loan Fund to Aid Growth of Veteran-Led Small Businesses

Retrieved on: 
Wednesday, November 8, 2023
Bank, Bank of America, Small business, NYSE, Military personnel, Community development financial institution, Organization, Veteran, Entrepreneurship, Spouse, BAC, Digital, Risk management, Community development, CDFI, Nidec-Shimpo America Corporation, SCORE, Real estate

NEW YORK, Nov. 8, 2023 /PRNewswire/ -- Bank of America is seeding a second round of financing for Veteran Loan Fund, doubling a two-year-old commitment that has already funded more than 500 small businesses built by former military personnel that have created or retained more than 3,000 jobs across 37 states. The fund's first $15 million round, closed in 2022, was deployed in less than 12 months.

Key Points: 
  • The Veteran Loan Fund is a national collaborative of a growing number of Community Development Financial Institutions (CDFIs) and specialized veteran service organizations providing responsible capital and technical assistance to underserved veteran entrepreneurs.
  • The fund offers an online platform that connects military veterans and their spouses with mission-focused lenders and education partners to help them build and sustain small businesses.
  • "Many veterans have the drive, discipline and leadership skills to fuel small business growth but lack the funding or network to help them grow.
  • "Access to responsible capital is a key issue for military veteran entrepreneurs," says Grant Bennett, Director of Veteran Programs and Operating Manager of the Veteran Loan Fund.

Veteran Entrepreneurs Thrive with SCORE's Free Mentoring and Resources

Retrieved on: 
Wednesday, November 1, 2023
Small business, Women's Business Ownership Act, Mentorship, Veteran, SCORE, Volunteering, Probability, Insurance

Vet-to-Vet Advice About Business Ownership

Key Points: 
  • Vet-to-Vet Advice About Business Ownership
    SCORE mentoring is a free service offered to any aspiring or established owner(s) of a U.S.-based business.
  • "My decision to join SCORE as a mentor was based on my desire to help," said SCORE mentor and veteran Bob Janesak.
  • "Veteran qualities and skill sets, with SCORE mentoring, are a great fit.
  • As a veteran, I take pride in my responsibility mentoring fellow veterans."

New and Returning Partners Collaborate with SCORE Foundation to Support Mentorship Opportunities for Entrepreneurs and Small Business Owners

Retrieved on: 
Monday, October 30, 2023
The ODP Corporation, NFL, Small business, NFLPA, Mentorship, Senior counsel, Customer experience, Organization, Milk round, PECO, SCORE, Elevate, Management, Trust

WASHINGTON, Oct. 30, 2023 /PRNewswire-PRWeb/ -- The SCORE Foundation, the philanthropic arm of SCORE, the nation's largest network of volunteer, expert business mentors, today announced that Phillips Edison & Company, Inc. ("PECO") joins renewing partners, The ODP Corporation and The Trust (Powered by the NFLPA), in supporting SCORE's mentoring services to help aspiring entrepreneurs and small business owners from their respective communities.

Key Points: 
  • "We are thrilled to include these organizations as valued partners," said Liz Sara, president of the SCORE Foundation.
  • Eligible former NFL players interested in starting a business or who seek business mentorship are referred to SCORE for personalized advice.
  • PECO, one of the largest owner-operators of grocery store-anchored shopping centers, is home to thousands of small business owners.
  • The SCORE mentor network features 10,000 volunteer business executives who provide free advice and coaching to founders through all stages of their small business journey.

How Small Businesses Can Benefit from Diverse Supplier Certification

Retrieved on: 
Tuesday, October 24, 2023
Small business, SAM, Organization, Certification, Federation, DEI, Social responsibility, Woman, Retail, Nursing, SCORE

WASHINGTON, Oct. 24, 2023 /PRNewswire/ -- Of the 1.1 million minority-owned employer businesses in the U.S., 99.9% are small businesses.

Key Points: 
  • WASHINGTON, Oct. 24, 2023 /PRNewswire/ -- Of the 1.1 million minority-owned employer businesses in the U.S., 99.9% are small businesses.
  • Getting certified as a diverse supplier offers small business owners the opportunity to expand market share, grow their companies, discover new partners, and create new revenue streams, according to SCORE, a resource partner of the U.S. Small Business Administration.
  • To take advantage of these benefits, SCORE encourages diverse supplier certification for those that qualify.
  • To qualify as a diverse supplier, in most cases, a small business must be in business for a minimum of two years.

SCORE - Mentors to America's Small Businesses - Announces New Board Members

Retrieved on: 
Tuesday, October 10, 2023
Investment, Ocean Village (company), MBA, Entrepreneurship, Thunderbird School of Global Management, IBM, SCORE, Mentorship, Morgan Stanley, Scoreboard, Christus, National Diversity Coalition for Trump, Fairfield, Connecticut, Equity, Club-E Collection, Equitable, A New World (Angel), Mechanical, Thunderbird, FedEx, Goldman Sachs, Small business, Club, Trusted Network Connect, Ohio State University, Advanced Management Program, John Brimacombe, Education, Associate, Christus Health, Mechanical engineering, History of the Georgia Institute of Technology, Conagra Brands, Miami University, Mastercard, Woman, ExxonMobil, Management, Financial services

"I'm pleased to welcome the newest members of the SCORE Board of Directors who join us in our shared mission of fostering small business communities through mentorship and education," said SCORE Board Chair Tracy Shaw.

Key Points: 
  • "I'm pleased to welcome the newest members of the SCORE Board of Directors who join us in our shared mission of fostering small business communities through mentorship and education," said SCORE Board Chair Tracy Shaw.
  • SCORE is here for every small business owner, wherever they are on their journey."
  • New members of the Board of Directors:
    Rick Brimacomb is a speaker, advisor, investor, board member and business executive serving emerging and lower middle-market companies.
  • Steve R. Smith has extensive experience in both large and small business entrepreneurship through 40-plus years with IBM and nine years with SCORE.