University of La Verne SBDC Small Biz Blog

  Many veteran small businesses need some sort of advantage when they are starting government contracting, and gaining some kind of veteran certification can do just that. Many small business owners find the certification process really confusing and are not even sure where to begin to apply. In this video guide, I will cover what the DBVE certification is, how to apply for it online, and how to put your years of service to work for your business. Background So what is the DVBE certification? The Disabled Veteran Business enterprise Certification is government contracting socioeconomic certification in California. California has committed to set aside 3% of contracts for DVBEs. The certification allows you a 5% incentive for DVBEs on applicable state solicitations. This means if you are DVBE certified and are 5% percent higher than the lowest bid that isn’t certified you can win the contract because of this incentive. The State of California also allows the certification to apply to th

  In celebration of all the great things SBDCs do to help small business we are going to answer questions that you have out there from calls, requests and comments on social media.  Question #1 I'm looking for funding to grow my business. Im looking to get a grant but I don’t know how to search for them and I don’t want to take out a loan Check out our resource on funding option for small businesses and role grants have in funding small business  5 Ways to Fund your Start Up Get more information on SBIR for research  Resource for federal grants Question #2 I want to get into government contracting but I have no idea where to start. I have signed up for SAM but I don’t know where to go from there. Help! Step #1: Understand what the government buys: Learn About Spend Research  Step #2: Find where the opportunities are: Free Government Search Resources Step #3: Speak with a SBDC consultant near you to understand the contracting process Question #3 Hi start up funding to not use my pe

When delving into the realm of small business ownership, insurance often falls to the wayside amidst the excitement of launching or operating your venture. However, understanding the significance of insurance and its role in safeguarding your business is paramount. In this guide, we'll explore the nuances of business insurance, from essential policies to practical tips for securing adequate coverage. Insurance for Small Business As a small business owner, there are several insurance policies that may be obligatory depending on your location and the nature of your operations. Let's delve into some key considerations: General Liability Insurance:  This policy typically covers bodily injuries, property damage, and liability claims arising from your business operations or products. It's essential for protecting against potential lawsuits and financial losses. Professional Liability Insurance:  Also known as errors and omissions insurance , this coverage safeguards your busin

  Introduction If you are looking to get started in government contracting there are socio economic certifications that can give you an edge in bidding for the federal contracts . In this episode we will cover the federal contracting certifications that you might qualify for and what you need to apply for them. Types of Contracts Set Asides These contracts are like regular competitions, but only small businesses can join! This happens automatically for most government contracts under $150,000. Think of it as a small business playground – plenty of room to swing without giants stomping around. Some set-asides are open to any small business, while others might be exclusive to those in special programs Sole Source Most contracts involve competition, but sometimes there's an exception. Imagine a super specialized project that only your company can tackle. That's a sole-source contract, and it can be awarded without the usual bidding process. The Catch: To be considered for these

  Ever wondered if an S-corporation is right for your California business? You've heard they offer tax benefits and shield you from personal liability, but the setup process seems daunting. Fear not, aspiring S-corp owner, because this guide unravels the mystery and empowers you to take control. What is an S-Corporation? An S-corporation , also known as a Subchapter S corporation, offers a unique blend of legal and tax benefits. It separates personal liability from business liability, similar to a C-corporation, but typically avoids double taxation and provides pass through taxes like that of a sole proprietorship or partnership. However, there are some key characteristics to keep in mind: Limited shareholders: Only 100 shareholders are allowed, and they must be U.S. citizens or resident aliens. Single stock class: All shares must have the same rights and privileges. Ineligible corporations: Certain entities like financial institutions and insurance companies cannot be S-corpor

  The right pricing model can make all the difference in the success of your business, yet it's often overlooked and undervalued. In this article, we will delve into the world of pricing models and show you how to make the most of them. From cost-plus pricing to percentage pricing, I will cover the most effective pricing models and help you determine which one is right for your business. Don't let inaccurate pricing hold you back any longer. Hourly Pricing Hourly is a pricing model that is commonly used by service business freelancers just getting into the market. Typically they pick a number they can live with. Ideally you want to base it on what you made before in your old job or to at least cover your expenses with the level of work and hours you can expect to work. Understand that realistically 50% of the time you wont be making money and you will be busy with administrative tasks like accounting or marketing. Alot small business owner miss this and even forget to add in a

We are the University of La Verne SBDC. We are 1 of 1000 local SBDC center all across the country. We are grant-funded to help small businesses start and grow with 1-on-1 consulting and free resources. Im Joshua, a business associate here at our center and besides helping with some administrative duties to run the center alongside my coworker Sophia and our director Sean, I help with marketing our center. I came on in 2019 and by 2020 during COVID hit everybody and affected how we ran our center being mostly virtual. I thought you know it would be easier to create content for YouTube and luckily, our Director Sean had already started a YouTube with just a subscribers. Over the last 3 years we have created practical guides to starting a business, funding, marketing, and managing a business. If you have been following our YouTube channel then you probably have seen many of these video and used them to start your own business. We recently launched our own on demand video library on Lavern

  Gael Sylvia Pullen, the founder of Girls Fly! and Ghail Media Group, that provide educational financial literacy programs for school districts. Her journey from owning the largest minority and female commercial brokerage firm to managing McDonald's restaurants eventually led her to create Girls Fly as a non-profit organization and Ghail Media Group, driven by her passion for financial literacy and empowering individuals with essential money knowledge. Challenges Gael encountered significant challenges when venturing outside the McDonald's system, stating, "I was at a loss for where to go or what to do because my prior banking relationships were all very easily tied within the McDonald's system." She also highlighted a broader issue, saying, "I'm not gonna limit it to just the African American or Latino population, but I think that there is a significant reason why our business progress may not be at the rate it could be because of lack of knowledge and

California, a trailblazer in various social and economic matters, is once again at the forefront of change, this time in the realm of work and regulations. From expanded worker protections to increased business transparency, a wave of new legislation is impacting industries and employees alike. This blog post delves into 5 of recent changes in California law and federals laws that impact small business owners from now into the future.  New rules for contractors to have workers' compensation insurance (SB 216) California is overhauling its approach to worker safety in the construction industry. Effective July 1, 2023, most contractors, including concrete crews, HVAC technicians, asbestos abatement specialists, and tree service professionals, will be required to provide workers' compensation insurance, even if they have no employees. This requirement aims to protect workers from financial hardship if injured on the job, while also ensuring a level playing field for responsible c

Are you a small business owner eager to delve into government contracting but feeling lost in the vast sea of opportunities? Fear not we are here to guide you step by step, absolutely free! In this blog post, we'll explore invaluable resources and strategies to help your small business thrive in the government contracting realm. SAM.gov: Your Gateway to Federal Contracts Navigating the Interface Our first stop in this journey is SAM.gov . A treasure trove of opportunities awaits, and you can either initiate a search or explore contracting opportunities directly. The interface allows you to input keywords, and the results can be further refined using the convenient filters on the left. Advanced Search Techniques Building on spending research principles, you can refine your search by agency, due date, notice type, and more. Dive into the specifics using NAICS codes under product or service information and set-asides for certified opportunities. Tailor your search to your business