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Show IE 1983 Problems Of Small Businesses Are A Specialty Of U. Center persons have attended a wide offering of training seminars, and about 1,200 business owners or managers have received individual counseling in growth planning' and Many of Utahs struggling small 1, businesses could better survive the recession and help lead an economic upturn by improving their management and planning skills at minimal financial cost, says the director of the Utah Small Business Development Sept, problem solving. Sponsored by the Graduate partly funded by the U.S. Small Business Administration. Matching contributions are received from the University as a whole and from Southern Utah State College and Utah State University, which operate two of the satellite offices. Seniors and graduate students in business at Utah, Utah State, and Southern Utah State are part of the volunteer force of consultants, assembled by SBDC to assist small firms. Others are from the ranks of private business, college faculties, and members of the Service Corps of Retired ExecuSchool of Business, SBDC is Center, Citing their Importance to a healthy economy, Richard Hag lund says the 34,000 Utah com panies who have fewer than 100 employees apiece comprise 54 percent of the states non agricultural work force, or about 300,000 workers. If a growth rate of just five percent could be achieved in Utah's small business sector, there would be a major impact on the state's economy," says Haglund. "The key to this potential lies in strengthening and improving an owners skills in management, planning, marketing, finance and Noting the time pressure and shortage of specialized staff that are characteristic of small business operations, Haglund urges business managers to acquaint themselves with SBDCs services and use them. "Successful firms of all sizes regularly use consultants and certainly should not consider it a sign of weakness to seek help in marketing, planning, price and promotion, or in Improving cash flow management and financial planning," he says. With interest rates declining and retail sales showing signs of improvement, Haglund says small business managers should act now to evaluate market opportunities, review company strengths and weaknesses, attack problems vigorously, and set objectives for tives. Although consultants to businessmen are free, a small registration fee is charged for some of the training seminars, which are announced in advance through the media and by direct mail. A busy year of seminars and workshops is planned for 1983. cost control. SBDC, which is headquartered on the University of Utah campus, provides assistance in all these critical areas. Training programs and individual management counseling are offered at its main office on is needthe future. He says ed, the SBDC is ready to provide it. The government recently established new programs to increase access to financial capital and to channel more of the governments research and development funds toward small companies. the University campus and at According to Haglund, these programs will enlarge growth opportunities, but will also increase rather than reduce the need for skilled managers. He says the center fills a supporting role in helping small business to participate in these new programs, which offer expansion capital or research and development funding. Whether the problem is one of cash flow or determining the best way to reach potential customers through advertising, many small companies are seriously handicapped in planning and executing strategies for survival, says Haglund. Lack of managerial skills and failure to develop sound business strategies are major reasons why many businesses go bankrupt, he adds. Instead of waiting until Impending failure forces an appeal to the bankruptcy court and either liquidation of the business or a restruc- turing of its management plan, Haglund says small companies should seek assistance earlier. He says that when sales decline, profits disappear and cash flow turns negative, rebuilding be comes painful process. Small companies are much more vulnerable to such disasters than are large firms, whose substantial cash and credit reserves help them survive serious difficulties, sometimes for lengthy periods. In Utah, the increase In bankruptcy filings in 1982 was in Chapter 11 and Chapter 13 cases, where the firm or individual is given a chance to develop a plan to regroup and work out his financial problems over a reasonable period of time. Chapter 7 bankruptcies, which involve liquidation of assets and closure of the business, actually decreased 26 percent last year. This decline more than doubled the total increase in Chapter 11 and Chapter 13 cases, Haglund cial health, even during the current recession, says Haglund. He believes this is the strongest contribution SBDC has made thus far In improving the well being of small companies. Haglund says small business managers who are eager to use the substantial resources available to them should contact the nearest SBDC office. A meeting will then a says. SBDC has helped a number of firms who were at the doorstep of bankruptcy, but the vast majority of its clients have been companies whose owners wanted to improve their management skills to boost their sales and profits. Follow-uinterviews with former clients indicate that many have been able to improve their finan p be arranged with a qualified counselor to identity and diagnose their problems, assess their opportunities for change and growth, and develop an action plan to move the company forward. DID YOU KNOW? occupants of cars have been killed in crashes at speeds as low as 12 mph. At just 10 mph, the force of impact is Non-belte- d equivalent to the force involved in bag of cecatching a ment tossed from a window. In the event of a head-ocrash with another car also going 30 mph, the total forces involved are equivalent to an impact at about 60 mph into a parked car. 200-poun- d five-stor- n satellite offices in Logan, Ogden, Salt Lake, and Cedar City. A fifth office is scheduled to open in Provo in March. Outreach services cover other communities, including Roosevelt, Vernal, Moab, Monticello, Blending, Price, Nephi, Delta and St. George. Other cities are likely to be tapped in the future. Since the center first opened In September 1979, more than 3,600 Community , Calendar , Sept. 1: 8 p.m. OES No. 25, Tooele Valley Chapter, Stated Meeting. Masonic Temple, 22 Canyon Road. 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For info, call 882-228- Sept 9: 7:00 p.m. - Tooele County Republican Womens Bimonthly meeting. Guest speaker, Lorraine McKay. For info, call Sept 8, 13, 14, 15, 17: 6:00 p.m. 9:30 p.m. Hunter Safety 882-423- -- Classes, to be held in the AudioVisual room of Tooele Junior High per student. For info, call School. Cost is $4.00 7 Gene Ekenstam or Joe Brandon 11: 9:00 a.m. - 12:30 p.m. "Eagles Sunday Break882-476- 882-406- Sept fast, juice, eggs, sausage or ham, toast and all the pancakes you can eat and beverage. Cost $3.00 adult, $2.00 children. PULBIC WELCOME. For info, call hash-brown- s, Its HandiBank and the new Plus System 882-790- ! The first true nationwide electronic banking e automated service network. teller machines let you make withdrawals, transfer funds, get a cash advance with your VISA Credit Card or check your account at over balance, day or night, in minutes nationwide! locations convenient 2,000 Easy-to-us- IS YOUR ORGANIZATION PLANNING AN EVENT? 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