Wyoming Business Tips for November

An occasional look at issues facing Wyoming business owners and entrepreneurs from the Wyoming Small Business Development Center (SBDC) Network, a collection of business assistance programs at the University of Wyoming.

By Devan Costa-Cargill, Wyoming SBDC Network regional director for Big Horn, Hot Springs, Park and Washakie counties

Given the vast offering of resources and programs for small businesses, it can be challenging to decrypt which program will meet the needs of veteran entrepreneurs and business owners. Veteran entrepreneurs often face unique challenges, such as transitioning from military to civilian life, accessing capital and translating military experience to small-business skills.

The Wyoming SBDC Network offers a wide scope of services, and its network has a strong referral system in place to support businesses all-inclusively. The network operates within a vast environment of small-business resources. A regional director can assist veteran-owned businesses with identifying their needs and aligning them with the resources that may best fit their priorities. The program can support them from ideation to succession planning across all industries.

When you are in idea mode, it is easy to get overwhelmed and it can halt your progress. As a business adviser, I listen to ideas and immediately start organizing the steps you will need to explore the idea further. As you share, I also listen for your strengths and passions. It is my goal to help you put your best assets to work as you plan your business launch or outline your next steps. The more confident you feel, the more successful you will be.

If you are planning to expand an existing business, I can help you outline your expansion plan, capital needs and staffing considerations. Sessions are very dynamic and literally adapt to whatever are your current needs. Each step of the way, I ensure you feel supported and encouraged to keep making progress toward your goals.

Programs That Meet Needs

Small-business resources include specific tools and services that help veterans achieve small-business goals. Some of Wyoming's resources include financial assistance, such as loans and grants; business counseling and mentorship programs; market research; and access to technology innovation assistance. Advisers provide individual business advising to create a business plan or navigate legal requirements, as well as many other areas of small-business planning and management.

The following are just a few of several organizations dedicated to supporting veteran entrepreneurs:

-- The Wyoming SBDC Network offers business expertise to help Wyoming residents think about, launch, grow, reinvent or exit their business. The Wyoming SBDC Network is hosted by the University of Wyoming with state funds from the Wyoming Business Council and funded, in part, through a cooperative agreement with the U.S. Small Business Administration (SBA).

-- The U.S. SBA's Office of Veterans Business Development offers programs like Boots to Business and the Entrepreneurship Bootcamp for Veterans with Disabilities.

-- The Big Sky Veterans Business Outreach Center office serves Wyoming veteran entrepreneurs and businesses.

-- SCORE Wyoming offers free business mentoring and education to veteran entrepreneurs, helping them translate their military skills into business success.

-- Managed by the U.S. Department of Veterans Affairs, the Veteran Entrepreneur Portal provides resources and guidance for veterans looking to start or grow their businesses.

These and several other organizations offer a range of services, from mentorship and training to access, funding and networking opportunities, to government contracting support. Leveraging these resources can significantly enhance a small business's chances of success in today's dynamic economy.

Veterans bring valuable skills, such as leadership, strategic planning and resilience, which can drive their businesses toward success. The Wyoming SBDC Network and its partners provide tailored resources and mentorship that can help veterans overcome any obstacles they are facing and help them thrive.

Action Steps

Accessing services is as easy as making a call or registering online at www.wyomingsbdc.org. The veteran small-business owner will receive an expedient response from an adviser to set up an appointment. The initial appointment is typically a discovery call to gather some preliminary information on a small-business owner's plan, ideas and passions. This sets the stage for the follow-up meetings.

Services are offered at no cost to Wyoming entrepreneurs and small-business owners. If you are in the ideation stage, I will explore your ideas and help you analyze feasibility, timeline and cost to launch and sustain. If you are already in business and need training, one-on-one support or funding, I can make the necessary connections and offer you meaningful referrals to resource partners.

For no-cost and confidential business advising, contact a Wyoming SBDC adviser at www.wyomingsbdc.org/contact/.

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