Thursday, May 13, 2021

Business Workshop to Feature Business Plan Writing

A Big Bad Business Series of workshops will feature Derek Stephens of the University of Mississippi Small Business Development Center explaining how to write a business plan.

The workshop will be held on Tuesday, April via Zoom.

The program is a joint effort of the Yoknapatawpha Arts Council and Oxford-Lafayette Economic Development Foundation to connect entrepreneurs and small business owners with small business resources and professional development opportunities.

Derek Stephens of the University of Mississippi Small Business Development Center.

It is part of Oxford Entrepreneurship Month and is part of the Creative Skills Workshops in partnership with the Starkville Area Arts Council.

“Hopefully, participants will come away with understanding how important and crucial a business plan is to the success of a business,” Stephens said. “In addition, it is my hope that as we go through the specific sections of a business plan, it’s broken down and simplified in such a way that feels less overwhelming. I always tell my clients to value quality over quantity.”

Stephens will break down the topic and allow participants to ask questions.

The workshop is free and open to the public, whether a student entrepreneur, an entrepreneur who just has a kernel of an idea, or an established business looking to refine their business plan.

“Whether or not a business is traditionally structured, it’s important to prepare a business plan. Any business needs to define their customer, understand their market, and know how they’re going to deliver their product and grow their business. At Mississippi SBDC, we utilize a plethora of market research resources to assist in this portion of the business plan and feel it has a tremendous impact on the preparation of our clients,” Stephens explained.

Research from the UMSBDC has shown that a successful business has an average of 8 consultations with their team to go through the different facets of starting a small business.

“Business plans are technical documents and can be a little intimidating at first, so we’re very excited to offer this program. Stephens is a great resource in our community who can help you tackle even that one section that holds you back,” said Meghan Gallagher, education and outreach coordinator at YAC and coordinator of the educational series.”

The YAC launched the Arts Incubator in 2014 to connect small business experts with the creative community. They joined forces with the EDF to offer the Big Bad Business Series in 2016 and offer the free professional development programs monthly.

“We’re always excited to partner with the Small Business Adminstration and UMSBDC. Derek is a graduate of UM with a BBA in Banking and Finance and worked in the banking industry, so he knows what small businesses need to include in their business plans to be fundable. We hope that creatives and any other type of entrepreneur attend and grow their business so they can stay in Lafayette County, continue to make it one of the best places to live,” said Wayne Andrews, director of YAC.

The workshop is free and open to the public. For more information or to register, visit oxfordarts.com or call 662-236-6429.


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