WASILLA CHAMBER OF COMMERCE: Business

Entrepreneurs, business owners, employees of non-profits, cooperatives, community organizations, and as government and municipal employees serving the public…it’s what we do.

Business.

As your Greater Wasilla Chamber of Commerce Staff and Board of Directors, that’s who we aim to help and encourage! We also strive to help our members make the business connections they need in our community. At last week’s Tuesday Luncheon, we heard from the SBA, the SBDC, and AK PTAC about how they exist to aid and assist in the development of our local business community. There’s always something new to learn, or a new connection to be made, through the GWCC.

I am honored to serve and support Valley businesses as GWCC’s board secretary and as a business relationship manager for Wells Fargo in Wasilla. Every day, I have the amazing privilege of helping my Valley friends and neighbors realize their entrepreneurial dreams. While we face our share of economic headwinds in Alaska, all of us at Wells Fargo are more committed than ever to helping local businesses access the capital needed to succeed. In fact, Wells Fargo has been named the U.S. SBA Alaska Small Business Lender of the Year for nine consecutive years. In 2017, Wells Fargo provided 60 SBA loans totaling $23 million in Alaska. As the economy continues to improve, it’s a positive sign to see more people venturing out to start small businesses. If you are considering starting a business, or acquiring an existing business, here are four quick tips.

Start with a Business Plan

Creating a solid business plan is an important first step for anyone starting a business. A well-thought-out business plan can help you establish and stay focused on company goals and objectives. Visit Wells Fargo’s Business Plan Center at https://wellsfargoworks.com/planning/business-plan-center/.

This website offers free business planning resources, including a step-by-step business plan tool to create and maintain your own written business plan.

Determine Your Hiring Needs

If you intend to hire full- or part-time employees right away, make sure you’re comfortable with and can afford the costs associated with hiring staff. Once you are ready to hire, spend some time familiarizing yourself with the legal and administrative steps associated with the hiring process. Once you have employees in place, set up a procedure to ensure you maintain the proper employee records and files at all times.

Understand Your Financial Picture

While most small businesses are initially financed by personal savings and credit, your business will likely face a need for additional financing at some point. To get yourself in the best position to obtain financing, before you need it, establish a relationship with a business banker who can help you understand your initial financing needs and options, and strategize ways to build your credit profile.

Build a Strong Network

Take time to establish relationships and build a network of other professionals who can help you. A great first step is joining the Greater Wasilla Chamber of Commerce! We would love for you to join us at 11:30 a.m. on Tuesdays at The Grill & Grandview Inn for your weekly dose of encouragement and enlightening speakers. It’s one of the greatest ways to network and meet business people & local leaders in the Valley.

So how do you plan to succeed in 2018?