Effective business plans topic of SCORE seminar

The business counseling group SCORE will hold a workshop Friday for people who want to start a business or operate an existing one better.

So often, people have a wonderful idea and they want to begin a business immediately without the proper planning, said Fred Eyerman, chairman of local SCORE chapter.

"Everything should start with a great plan," he said.

Existing owners often need assistance to figure out what they need to be doing as they move forward with their small business, he said.

The workshop, open to the first 20 registrants, will cover the importance of having an effective business plan.

Participants also will learn how to conduct market research to see if their proposed product or service is needed, how it should be priced and whether it is likely to hold up against competition.

They will learn cash flow and break-even analysis and about profit-and-loss statements. They will find out which insurance policies are must-haves and hear about getting a less costly small-business loan, thanks to the federal stimulus package.

The workshop costs $79, or $89 for walk-ins if the event has not filled up. A continental breakfast and light lunch will be served.

The event starts at 8 a.m. and ends at 4:30 p.m.

It will be held at Capital One's offices in West Creek, 15000 Capital One Drive, in Goochland County.

Register online and get directions at http://www.RichmondScore.org. Contact SCORE at (804) 771-2400, ext. 131. -- Iris Taylor