How Three Illinois Chamber Execs are making a difference buying electricity - Brandon Bullard of Jefferson County Chamber of Commerce, Joni Barwick of Marion Chamber and Les O'Dell of Carbondale Chamber

April 25, 2013 4:00 am  •  BY SCOTT FITZGERALD, The Southern

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CARTERVILLE — A chambers of commerce joint effort is offering small businesses an opportunity to possibly save money on their electricity bills.

Chamber directors from the newly formed buying group hosted a news conference Wednesday at John A. Logan College to announce details of pooling buying power of Southern Illinois businesses in what is known as aggregation.

The strategy is through partnering and increasing buying volume, a lower purchase price of electricity can be obtained, said Managing Partner Jeff Haarmann of Affordable Gas & Electric that is the buying group’s negotiator.

Affordable Gas & Electric is negotiating a purchase price with supplier Ameren Energy Marketing.

Businesses that wish to participate must be a member of their respective chambers in Carbondale, Carterville, Centralia, Herrin, Marion, Murphysboro, Salem and West Frankfort. They must be located within the Ameren Illinois service territory. If they under contract with another retail supplier, the contract must be set to expire by Dec. 31, Haarmann said.

“I highly recommend the aggregation program to all chamber members,” said Executive Director Brandon Bullard of Jefferson County Chamber of Commerce, which launched the pilot program in the fall.

Bullard said participating businesses in Mount Vernon including Magnum Steel and Mount Vernon Township High School are collectively saving about 30 percent annually or $500,000.

Executive Director Les O’Dell of Carbondale Chamber of Commerce said the potential economic impact to the Southern Illinois region could translate from $1.5 million to $2 million in savings.

“This is designed for small and midsize businesses with fewer than 50 employees who are chamber members. These businesses can save drastic dollars. Anybody can jump on board with us,” said Executive Director Joni Barwick of Marion Chamber of Com-merce.

Businesses that wish to participate should go to their respective chamber website and fill out a registration form. Deadline for registering is May 31.

scott.fitzgerald@thesouthern.com

http://thesouthern.com/news/local/chambers-seek-better-power-prices/article_034acaaa-ad60-11e2-be3b-0019bb2963f4.html

SBA Loans: Keys to Your Financial Success -St Louis Region

Join the U.S. Small Business Administration, the Small Business & Technology Development Center, and a local bank officer for an opportunity to become familiar with the SBA loan programs, requirements, and what constitutes a successful application. Learn:

*  Cash flow lending versus collateral lending
*  How to work with a commercial loan officer
*  An overview of SBA-guaranteed loans
*  Free technical assistance for small business borrowers

When:      Tuesday, May 7, 2013                 5:00 - 7:00 p.m.

Where:     Buder Library Branch                 4401 Hampton Avenue
                 St. Louis, MO 63109

The event and parking is free. Please register online or call 314-241-1511.

St. Louis District Office
http://www.sba.gov/mo/stlouis
314-539-6600

Women Owned Businesses - Resources from the SBA

Women-Owned Businesses

SBA provides resources to help women business owners to succeed. From registering your business, to hiring your first employee, we’re here to help you start and grow your small business.

A business plan is an essential roadmap for business success. This living document generally projects 3-5 years ahead and outlines the route a company intends to take to grow revenues.

Executive Summary

The executive summary is often considered the most important section of a business plan. This section briefly tells your reader where your company is, where you want to take it, and why your business idea will be successful. If you are seeking financing, the executive summary is also your first opportunity to grab a potential investor’s interest.

The executive summary should highlight the strengths of your overall plan and therefore be the last section you write. However, it usually appears first in your business plan document.

What to Include in Your Executive Summary

Below are several key points that your executive summary should include based on the stage of your business.

If You Are an Established Business

If you are an established business, be sure to include the following information:

• The Mission Statement – This explains what your business is all about. It should be between several sentences and a paragraph.
• Company Information – Include a short statement that covers when your business was formed, the names of the founders and their roles, your number of employees, and your business location(s).
• Growth Highlights – Include examples of company growth, such as financial or market highlights (for example, “XYZ Firm increased profit margins and market share year-over-year since its foundation). Graphs and charts can be helpful in this section.
• Your Products/Services -- Briefly describe the products or services you provide.
• Financial Information – If you are seeking financing, include any information about your current bank and investors.
• Summarize future plans – Explain where you would like to take your business.

With the exception of the mission statement, all of the information in the executive summary should be covered in a concise fashion and kept to one page. The executive summary is the first part of your business plan many people will see, so each word should count.

If You Are a Startup or New Business

If you are just starting a business, you won't have as much information as an established company. Instead, focus on your experience and background as well as the decisions that led you to start this particular enterprise.

Demonstrate that you have done thorough market analysis. Include information about a need or gap in your target market, and how your particular solutions can fill it. Convince the reader that you can succeed in your target market, then address your future plans.

Remember, your Executive Summary will be the last thing you write. So the first section of the business plan that you will tackle is the Company Description section.

Company Description

This section of your business plan provides a high-level review of the different elements of your business. This is akin to an extended elevator pitch and can help readers and potential investors quickly understand the goal of your business and its unique proposition.

What to Include in Your Company Description

• Describe the nature of your business and list the marketplace needs that you are trying to satisfy.
• Explain how your products and services meet these needs.
• List the specific consumers, organizations or businesses that your company serves or will serve.
• Explain the competitive advantages that you believe will make your business a success such as your location, expert personnel, efficient operations, or ability to bring value to your customers.

Next, you’ll need to move on to the Market Analysis section of your plan.

Market Analysis

The market analysis section of your business plan should illustrate your industry and market knowledge as well as any of your research findings and conclusions. This section is usually presented after the company description.

What to Include in Your Market Analysis

Industry Description and Outlook – Describe your industry, including its current size and historic growth rate as well as other trends and characteristics (e.g., life cycle stage, projected growth rate). Next, list the major customer groups within your industry.

Information About Your Target Market – Narrow your target market to a manageable size. Many businesses make the mistake of trying to appeal to too many target markets. Research and include the following information about your market:

Distinguishing characteristics – What are the critical needs of your potential customers? Are those needs being met?  What are the demographics of the group and where are they located? Are there any seasonal or cyclical purchasing trends that may impact your business?

Size of the primary target market – In addition to the size of your market, what data can you include about the annual purchases your market makes in your industry? What is the forecasted market growth for this group? For more information, see our market research guide for tips and free government resources that can help you build a market profile.

How much market share can you gain? – What is the market share percentage and number of customers you expect to obtain in a defined geographic area? Explain the logic behind your calculation.

Pricing and gross margin targets – Define your pricing structure, gross margin levels, and any discount that you plan to use.

When you include information about any of the market tests or research studies you have completed, be sure to focus only on the results of these tests. Any other details should be included in the appendix.

Competitive Analysis – Your competitive analysis should identify your competition by product line or service and market segment. Assess the following characteristics of the competitive landscape:

• Market share
• Strengths and weaknesses
• How important is your target market to your competitors?
• Are there any barriers that may hinder you as you enter the market?
• What is your window of opportunity to enter the market?
• Are there any indirect or secondary competitors who may impact your success?
• What barriers to market are there (e.g., changing technology, high investment cost, lack of quality personnel)?

Regulatory Restrictions –  Include any customer or governmental regulatory requirements affecting your business, and how you’ll comply. Also, cite any operational or cost impact the compliance process will have on your business.

Once you’ve completed this section, you can move on to the Organization & Managementsection of your business plan.

Organization & Management

Organization and Management follows the Market Analysis. This section should include: your company's organizational structure, details about the ownership of your company, profiles of your management team, and the qualifications of your board of directors.

Who does what in your business? What is their background and why are you bringing them into the business as board members or employees? What are they responsible for? These may seem like unnecessary questions to answer in a one- or two-person organization, but the people reading your business plan want to know who's in charge, so tell them. Give a detailed description of each division or department and its function.

This section should include who's on the board (if you have an advisory board) and how you intend to keep them there. What kind of salary and benefits package do you have for your people? What incentives are you offering? How about promotions? Reassure your reader that the people you have on staff are more than just names on a letterhead.

Organizational Structure

A simple but effective way to lay out the structure of your company is to create an organizational chart with a narrative description. This will prove that you're leaving nothing to chance, you've thought out exactly who is doing what, and there is someone in charge of every function of your company. Nothing will fall through the cracks, and nothing will be done three or four times over. To a potential investor or employee, that is very important.

Ownership Information

This section should also include the legal structure of your business along with the subsequent ownership information it relates to. Have you incorporated your business? If so, is it a C or S corporation? Or perhaps you have formed a partnership with someone. If so, is it a general or limited partnership? Or maybe you are a sole proprietor.

The following important ownership information should be incorporated into your business plan:

• Names of owners
• Percentage ownership
• Extent of involvement with the company
• Forms of ownership (i.e., common stock, preferred stock, general partner, limited partner)
• Outstanding equity equivalents (i.e., options, warrants, convertible debt)
• Common stock (i.e., authorized or issued)
• Management Profiles
• Experts agree that one of the strongest factors for success in any growth company is the ability and track record of its owner/management team, so let your reader know about the key people in your company and their backgrounds. Provide resumes that include the following information:
• Name
• Position (include brief position description along with primary duties)
• Primary responsibilities and authority
• Education
• Unique experience and skills
• Prior employment
• Special skills
• Past track record
• Industry recognition
• Community involvement
• Number of years with company
• Compensation basis and levels (make sure these are reasonable -- not too high or too low)
• Be sure you quantify achievements (e.g. "Managed a sales force of ten people," "Managed a department of fifteen people," "Increased revenue by 15 percent in the first six months," "Expanded the retail outlets at the rate of two each year," "Improved the customer service as rated by our customers from a 60 percent to a 90 percent rating")

Also highlight how the people surrounding you complement your own skills. If you're just starting out, show how each person's unique experience will contribute to the success of your venture.

Board of Directors' Qualifications

The major benefit of an unpaid advisory board is that it can provide expertise that your company cannot otherwise afford. A list of well-known, successful business owners/managers can go a long way toward enhancing your company's credibility and perception of management expertise.

If you have a board of directors, be sure to gather the following information when developing the outline for your business plan:

• Names
• Positions on the board
• Extent of involvement with company
• Background
• Historical and future contribution to the company's success

Next, move on to the Service or Product Line section of your plan.

Service or Product Line

Once you’ve completed the Organizational and Management section of your plan, the next part of your business plan is where you describe your service or product, emphasizing the benefits to potential and current customers. Focus on why your particular product will fill a need for your target customers.

What to Include in Your Service or Product Line Section

A Description of Your Product / Service

Include information about the specific benefits of your product or service – from your customers' perspective. You should also talk about your product or service's ability to meet consumer needs, any advantages your product has over that of the competition, and the current development stage your product is in (e.g., idea, prototype).

Details About Your Product’s Life Cycle

Be sure to include information about where your product or service is in its life cycle, as well as any factors that may influence its cycle in the future.

Intellectual Property

If you have any existing, pending, or any anticipated copyright or patent filings, list them here. Also disclose whether any key aspects of a product may be classified as trade secrets. Last, include any information pertaining to existing legal agreements, such as nondisclosure or non-compete agreements.

Research and Development (R&D) Activities

Outline any R&D activities that you are involved in or are planning. What results of future R&D activities do you expect? Be sure to analyze the R&D efforts of not only your own business, but also of others in your industry.

Next, move on to the Marketing & Sales Management section of your plan.

Marketing & Sales

Once you’ve completed the Service or Product Line section of your plan, the next part of your business plan should focus on your marketing and sales management strategy for your business.

Marketing is the process of creating customers, and customers are the lifeblood of your business. In this section, the first thing you want to do is define your marketing strategy. There is no single way to approach a marketing strategy; your strategy should be part of an ongoing business-evaluation process and unique to your company. However, there are common steps you can follow which will help you think through the direction and tactics you would like to use to drive sales and sustain customer loyalty.

An overall marketing strategy should include four different strategies:

• A market penetration strategy.

• A growth strategy. This strategy for building your business might include: an internal strategy such as how to increase your human resources, an acquisition strategy such as buying another business, a franchise strategy for branching out, a horizontal strategy where you would provide the same type of products to different users, or a vertical strategy where you would continue providing the same products but would offer them at different levels of the distribution chain.

• Channels of distribution strategy. Choices for distribution channels could include original equipment manufacturers (OEMs), an internal sales force, distributors, or retailers.

• Communication strategy. How are you going to reach your customers? Usually a combination of the following tactics works the best: promotions, advertising, public relations, personal selling, and printed materials such as brochures, catalogs, flyers, etc.

After you have developed a comprehensive marketing strategy, you can then define your sales strategy. This covers how you plan to actually sell your product.

Your overall sales strategy should include two primary elements:

• A sales force strategy. If you are going to have a sales force, do you plan to use internal or independent representatives? How many salespeople will you recruit for your sales force? What type of recruitment strategies will you use? How will you train your sales force? What about compensation for your sales force?

• Your sales activities. When you are defining your sales strategy, it is important that you break it down into activities. For instance, you need to identify your prospects. Once you have made a list of your prospects, you need to prioritize the contacts, selecting the leads with the highest potential to buy first. Next, identify the number of sales calls you will make over a certain period of time. From there, you need to determine the average number of sales calls you will need to make per sale, the average dollar size per sale, and the average dollar size per vendor.

Next, if you are seeking financing for your business, you’ll need to complete the next part of your plan – Funding Request.

Funding Request

If you are seeking funding for your business venture, use this section to outline your requirements.

Your funding request should include the following information:

• Your current funding requirement
• Any future funding requirements over the next five years
• How you intend to use the funds you receive: Is the funding request for capital expenditures? Working capital? Debt retirement? Acquisitions? Whatever it is, be sure to list it in this section.
• Any strategic financial situational plans for the future, such as: a buyout, being acquired, debt repayment plan, or selling your business.  These areas are extremely important to a future creditor, since they will directly impact your ability to repay your loan(s).

When you are outlining your funding requirements, include the amount you want now and the amount you want in the future. Also include the time period that each request will cover, the type of funding you would like to have (e.g., equity, debt), and the terms that you would like to have applied.

To support your funding request you’ll also need to provide historical and prospective financial information.

Once you have completed your funding request, move on to the next part of your plan –Financial Projections.

Financial Projections

Financial Projections

You should develop the Financial Projections section after you've analyzed the market and set clear objectives. That's when you can allocate resources efficiently. The following is a list of the critical financial statements to include in your business plan packet.

Historical Financial Data

If you own an established business, you will be requested to supply historical data related to your company's performance. Most creditors request data for the last three to five years, depending on the length of time you have been in business.

The historical financial data to include are your company's income statements, balance sheets, and cash flow statements for each year you have been in business (usually for up to three to five years). Often, creditors are also interested in any collateral that you may have that could be used to ensure your loan, regardless of the stage of your business.

Prospective Financial Data

All businesses, whether startup or growing, will be required to supply prospective financial data. Most of the time, creditors will want to see what you expect your company to be able to do within the next five years. Each year's documents should include forecasted income statements, balance sheets, cash flow statements, and capital expenditure budgets. For the first year, you should supply monthly or quarterly projections. After that, you can stretch it to quarterly and/or yearly projections for years two through five.

Make sure that your projections match your funding requests; creditors will be on the lookout for inconsistencies. It's much better if you catch mistakes before they do. If you have made assumptions in your projections, be sure to summarize what you have assumed. This way, the reader will not be left guessing.

Finally, include a short analysis of your financial information. Include a ratio and trend analysis for all of your financial statements (both historical and prospective). Since pictures speak louder than words, you may want to add graphs of your trend analysis (especially if they are positive).

Next, you may want to include an Appendix to your plan. This can include items such as your credit history, resumes, letters of reference, and any additional information that a lender may request.

Appendix

The Appendix should be provided to readers on an as-needed basis. In other words, it should not be included with the main body of your business plan. Your plan is your communication tool; as such, it will be seen by a lot of people. Some of the information in the business section you will not want everyone to see, but specific individuals (such as creditors) may want access to this information to make lending decisions. Therefore, it is important to have the appendix within easy reach.

The appendix would include:

• Credit history (personal & business)
• Resumes of key managers
• Product pictures
• Letters of reference
• Details of market studies
• Relevant magazine articles or book references
• Licenses, permits or patents
• Legal documents
• Copies of leases
• Building permits
• Contracts
• List of business consultants, including attorney and accountant

Any copies of your business plan should be controlled; keep a distribution record. This will allow you to update and maintain your business plan on an as-needed basis. Remember, too, that you should include a private placement disclaimer with your business plan if you plan to use it to raise capital.

Source: www.sba.gov 

Scott Coren: How Local Spending Helps This Illinois Community

From the Darien Chamber of Commerce... City of Darien Assistant City Administrator Scott Coren shared that a high level of local spending is critical to maintain the standard of living in any community. First, revenue from local spending goes to Darien, which helps to pay for the maintenance of roads, storm water infrastructure, beautification projects, and the police department. Increased local spending allows for additional projects and services, or could reduce the amount of revenue needed from other sources.  Money spent locally also encourages businesses to expand, create jobs within the community, and invest in their own appearance. When a business succeeds in Darien it draws customers to the vicinity of nearby retailers, assisting all enterprises. From financially supporting Darien’s infrastructure to creating local jobs to attracting customers, spending locally is an important way a resident can support their community.

Boost Email Marketing Results by 60%.

•  Quick clip from www.INC.com: The secret is sending the same message twice. That's what online marketing firm Wpromote does with all of their email campaigns. The second message is sent 48 hours later, but with a different subject line, and it's only sent to those who didn't open the first email. The company has been able to double their results using this technique, with an average lift of 60%.
  
  

Monday Chamber Executive Reading List

The Coming Jobs War - Jim Clifton

$30 Million Loan Guarantee Program Announced by Cook County President Preckwinkle

President Preckwinkle Announces BUILT in Cook Loan Fund

by BARBARA.MALOOF 

Surrounded by civic leaders and representatives from the U.S. Department of Housing and Urban Development (HUD), President Preckwinkle announces the BUILT in Cook Program.

President Preckwinkle Announces BUILT in Cook Loan Fund
$30 Million Loan Guarantee Program approved by HUD will spur economic growth

President Preckwinkle today announced that Cook County received approval from the U.S. Department of Housing and Urban Development (HUD) for a $30 million loan guarantee program to finance four types of sustainable development.

They are: transit-oriented, mixed-use developments within a half-mile of passenger rail; cargo-oriented projects near freight rail lines and terminals; mixed-use hospitality/service sector projects near transit lines and business development loans.

“The BUILT in Cook fund will allow the County to be an active participant in financing business expansion, retaining businesses and producing jobs in the County,” President Preckwinkle said.  “Economic growth and job creation have been an important focus of my administration and this program can be a powerful tool to drive economic development.”

Also known as the Section 108 Loan Pool, BUILT (Broadening Urban Investment to Leverage Transportation) in Cook will allow the County to borrow money from private investors at reduced interest rates to promote economic development, stimulate job growth and improve public facilities.  Such public investment is often needed to inspire private contributions, to provide seed money, or to simply boost confidence that many private firms and individuals need to invest in distressed areas. 

“This loan guarantee is a powerful tool to help President Preckwinkle spur economic growth and create jobs,” said HUD’s Midwest Regional Administrator Antonio R. Riley. “The funding helps for-profit businesses carry out economic development, benefitting low- and moderate-income residents and will create new jobs.”

BUILT in Cook has some important guidelines, including:
• Development and/or business growth loans must benefit low- and moderate-income residents by making at least 51 percent of jobs created with BUILT in Cook financing available to low- and moderate-income workers;
• Financing is limited to 15% of the total development cost or $2 million, whichever is less;
• Potential borrowers include: developers, businesses and/or individuals;
• Project underwriting will be done in collaboration with private lenders.

BUILT in Cook is another in a series of economic growth plans implemented by President Preckwinkle.  Others included rolling back the sales tax, creating the Cook County Land Bank Authority, establishing the Council of Economic Advisors and releasing the Partners in Prosperity report on regional economic development. For more information on these programs, go to:www.cookcountyil.gov/economicdevelopment.

View our application.

 Source: http://blog.cookcountyil.gov/economicdevelopment/ 

Emergency Assistance for your Business Impacted by a Disaster - Flooding in Midwest

Flooding will occur in several areas across the Midwest, noted in  the articles below from Illinois, Wisconsin, Michigan  and Indiana. Learn how the SBA can provide resources to small businesses in a critical time.

Chicago floods: Evacuations, sandbagging as river levels rise

 http://articles.chicagotribune.com/2013-04-18/news/chi-chicago-flooding-20130418_1_des-plaines-river-river-levels-flooding

Flood warnings issued for Milwaukee River, other waterways

http://www.jsonline.com/news/milwaukee/combined-sewer-overflows-into-milwaukee-waterways-to-end-soon-rg9guss-202503361.html

Early morning flooding issues around Central Indiana

http://fox59.com/2013/04/19/early-morning-flooding-issues-around-central-indiana/#axzz2QuwoKAPJ

Heavy Rain Worsens Flooding In Parts Of Michigan

http://detroit.cbslocal.com/2013/04/19/heavy-rain-worsens-flooding-in-parts-of-michigan/

The resources below from the SBA can help you develop a plan to protect your employees, lessen the financial impact of disasters, and re-open your business quickly to support economic recovery in your community.

Disaster Assistance

Disaster can strike at any time, and even the most prepared businesses and business owners can be adversely impacted. If your business has been impacted by a disaster, the SBA can help by providing disaster assistance. 

Disaster assistance is money provided to individuals, families and businesses in an area whose property has been damaged or destroyed following a Presidential-declared disaster; and whose losses are not covered by insurance. Loans may be available to businesses that have suffered an economic loss as a result of the disaster. Assistance is available from the Federal Emergency Management Agency (FEMA), the SBA, the Farm Services Agency (FSA) and state governments.

FEMA Disaster Assistance

If you need assistance after a disaster, your first point of contact should be FEMA. Contact FEMA directly to apply for assistance, which includes money for housing and essential expenses, such as food and clothing; and critical personal expenses, such as medication. To learn more about FEMA and how to access assistance, explore the following resources:

• Disaster Assistance Available from FEMA
• Contact FEMA and Apply for Assistance

Disaster and Economic Injury Loans

The SBA and USDA provide low interest loans to businesses and individuals to repair or replace real estate, personal property, machinery and equipment, inventory and business assets that have been damaged or destroyed in a declared disaster.

• Home and Property Disaster Loans
  Renters and homeowners alike may borrow up to $40,000 to repair or replace clothing, furniture, cars, appliances, etc. damaged or destroyed in the disaster. Homeowners may apply for up to $200,000 to repair or replace their primary residence to its pre-disaster condition.
• Disaster Assistance Loans
  SBA provides low interest disaster loans to homeowners, renters, businesses of all sizes and private, nonprofit organizations to repair or replace real estate, personal property, machinery & equipment, inventory and business assets that have been damaged or destroyed in a declared disaster.
• Economic Injury Loans
  If your small business or private, nonprofit organization has suffered economic injury, regardless of physical damage, and is located in a declared disaster area, you may be eligible for financial assistance from the U.S. Small Business Administration.
• Military Reservist Economic Injury Disaster Loan
  Provides funds to eligible small businesses to meet their ordinary and necessary operating expenses that they were unable to meet due to an essential employee being "called-up" to active duty in their role as a military reservist.
• Farm Emergency Loans
  Offers emergency loans to help producers recover from production and physical losses due to drought, flooding, other natural disasters, or quarantine.

The Farm Service Agency also provides a disaster assistance guide for farmers and ranchers for natural disaster losses resulting from drought, flood, fire, freeze, tornadoes, and pest infestation. 

Employment Assistance

• Disaster Unemployment Assistance
  Supplies information on financial assistance for self-employed individuals who have lost their jobs due to federally declared disasters.
• Midwest Flood Recovery Assistance
  Covers National Emergency Grants for temporarily employing displaced workers.

Tax Relief Assistance

• Federal Tax Relief for Individuals and Businesses 
  Lists tips and resources to help individuals and business located in federally declared disaster areas.
• Disaster Losses Kit for Businesses 
  Provides tax information for claiming unreimbursed casualty losses on property that was destroyed by a natural disaster.
  
  
  Source: www.sba.gov

Emergency Planning for your Business - Part 1 of 2

Businesses can do much to prepare for the impact of the many hazards they face in today’s world including natural hazards like floods, hurricanes, tornadoes, earthquakes and widespread serious illness such as the H1N1 flu virus pandemic. Human-caused hazards include accidents, acts of violence by people and acts of terrorism. Examples of technology-related hazards are the failure or malfunction of systems, equipment or software.

Ready Business will assist businesses in developing a preparedness program by providing tools to create a plan that addresses the impact of many hazards. This website and its tools utilize an “all hazards approach” and follows the program elements within National Fire Protection Association 1600, Standard on Disaster/Emergency Management and Business Continuity Programs. NFPA 1600 is an American National Standard and has been adopted by the U.S. Department of Homeland Security.

The five steps in developing a preparedness program are:

• Program Management
  • Organize, develop and administer your preparedness program
  • Identify regulations that establish minimum requirements for your program
• Planning
  • Gather information about hazards and assess risks
  • Conduct a business impact analysis (BIA)
  • Examine ways to prevent hazards and reduce risks
• Implementation
  Write a preparedness plan addressing:
  • Resource management
  • Emergency response
  • Crisis communications
  • Business continuity
  • Information technology
  • Employee assistance
  • Incident management
  • Training
• Testing and Exercises
  • Test and evaluate your plan
  • Define different types of exercises
  • Learn how to conduct exercises
  • Use exercise results to evaluate the effectiveness of the plan
• Program Improvement
• Identify when the preparedness program needs to be reviewed
• Discover methods to evaluate the preparedness program
• Utilize the review to make necessary changes and plan improvements

Source: www.sba.gov

Message to Boston and Victims of Marathon Bombing

On April 15, following the tragic bombing and loss of life at the Boston Marathon finish line, Chicago's Western Suburbs expressed their condolences by way of West Suburban Chamber of Commerce and Industry Executive Director Steve Erickson. Erickson said in correspondence with Paul Guzzi, President & Chief Executive Officer of the Greater Boston Chamber of Commerce, Thomas Menino, Boston Mayor, and Deval Patrick, Boston Governor: "The members of the West Suburban Chamber of Commerce and Industry extend their prayers, sympathy and solidarity to the families, first responders and fellow Americans in Boston victimized by Monday's Boston Marathon bombing. Our hearts and support are with you as you heal and demonstrate once again to the world that such cowardly and evil acts will never overcome the American soul." Source: West Suburban Chamber of Comerce e-mail

Small Business Exporting - Part 4 of 4 - Free Government Resources

Market Research

Plan your market entry the right way – use market research to learn your product’s potential in a given market, the best prospects for success, and the market’s business practices before you first export.

If you’re just beginning to sell internationally, narrow your focus by concentrating on no more than two or three best-prospect markets. Use our Step-by-Step research guidelines to get started. (SEE BELOW)

Market Research

Access the U.S. Commercial Service Market Research Library containing more than 100,000 industry and country-specific market reports, authored by our specialists working in overseas posts.

The Library Includes:

• Country Commercial Guides (read latest “Doing Business In” guides)
• Industry Overviews*
• Market Updates*
• Multilateral Development Bank Reports*
• Best Markets*
• Industry/Regional Reports*

* These market research reports are available only to U.S. companies and students/researchers that are registered with Export.gov. Register above to get access.

Agricultural Goods Market Research Reports

Tariff Schedules, Trade Missions, GAIN Reports, and Specific Country Data and Information -- all focusing on exporters of agricultural goods and commodities. Market reports on processed and finished agricultural products can also be found in the "Country and Industry Market Reports" above. 

Step 1. Find Potential Markets

• Obtain trade statistics that indicate which countries import your type(s) of products.
• Perform a thorough review of the available market research reports in the country(ies) and industries in question to determine market openness, common practices, tariffs and taxes, distribution channels, and other important considerations.
• Identify five to ten large and fast-growing markets for the firm's product(s). Analyze them over the past three to five years for market growth in good and bad times.
• Identify some smaller but fast-emerging markets where there may be fewer competitors.
• Target three to five of the most statistically promising markets for further assessment. Consult with U.S. Export Assistance Center near you.

Step 2. Assess Targeted Markets

• Examine consumption and production of competitive products, as well as overall demographic and economic trends in the target country.
• Ascertain the sources of competition, including the extent of domestic industry production and the major foreign countries the firm would compete against.
• Analyze factors affecting marketing and use of the product in each market, such as end-user sectors, channels of distribution, cultural idiosyncrasies, and business practices.
• Identify any foreign barriers (tariff or nontariff) for the product being imported into the country and identify any U.S. export controls.
• Identify U.S. or foreign incentives to promote exporting of your product or service.
• Determine whether your product is price competitive after you've figured in packaging, shipping, marketing, sales commissions, taxes & tariffs, and other associated costs. See "pricing considerations".

Step 3. Draw Conclusions

If the company is new to exporting, it is probably a good idea to target 2 or 3 markets initially. Your local Export Assistance Center can provide valuable insight into your "optimal" market opportunities.

Step 4. Test Demand

There are a number of low-cost on-line and off-line services that can help new exporters gauge foreign market interest and collect overseas inquiries:

• Catalog Exhibitions
• Commercial News USA
• Foreign Partner Matching and Trade Lead Services

Also, at Export.gov you’ll find additional resources from across the U.S. government including market research, trade leads and information about export finance.

Source: www.sba.gov