Niles Downtown Development Authority is partnering with the Michigan Small business and Technology Development Center to offer a small business training day Oct. 9 at the Niles Entrepreneurial and Culinary Incubator, 219 N. 4th St., Niles.

Reserve a seat by calling (269) 687-4332 or emailing info@neci.com.

Cost is $5 a session or $10 for the whole day.

Below is a list and description of each session:

 

• 9-10:30 a.m. — Starting a Business and Writing a Business Plan/Class with Bob Jones, of Kinexus.

Participants will learn the fundamentals of starting and owning a small business in Michigan and how to write a comprehensive business plan.  Business plans are important to help you set goals, pinpoint resources needed to carry out your plan and determine feasibility and profitability.  This course will discuss each section of a business plan including: executive summary, marketing, operations, management, sales and financials.

 

• 10:30 a.m. to noon — Retail and Restaurant Ownership/Class with John Schmitt, of MiDBTDC.

This workshop is a must attend for the person considering opening a retail or food service business. Discover what it takes to start and run a retail ship or restaurant from setting the culture to setting up a cash flow.  Topics to be covered include a review of buying inventory, purchasing equipment, what to consider when looking for a space, the costs associated with building out a space, along with how to create a restaurant menu and licensing requirements.

 

• 1-4 p.m. — Small Business Succession Planning /Class with Carolyn Rourke, of MiSBTDC.

Did you know that selling a business, transitioning ownership or deciding to close a business usually takes years of planning and strategy? This workshop will provide you an overview of how businesses can increase value through the development of a succession plan. Course will outline plan components; successor identification and skills development, as well as plan implementation and communication guidelines; key benefits and rivers; building organizational value, and integrating long-range organizational plans with employee career plans. Designed to illustrate the difference between developing a long-term succession plan and the transaction of selling a business, this course helps business owners evaluate ownership transaction options long before any unexpected events may force change.

The training day is sponsored by the Niles Area Credit Unions, Greater Niles Community Federal Credit Union, Honor Credit Union and United Federal Credit Union.