Help for Minority-Owned Businesses.

• Author: ALLEN, LLOYD J.
• Position: Alaska Minority Business Development Center - Brief Article

The Alaska Minority Business Development Center can provide funding and support to new and expanding minority-owned businesses.

Successful business owners often say that running a business requires a wide range of resources. The Alaska Minority Business Development Center provides minority business owners with a network of resources that will better enable them to meet the challenges entrepreneuners face. The Tanana Chiefs Conference Inc.'s credit and finance department and economic development department assist the Alaska MBDC in obtaining financing for new or existing businesses.

The Alaska MBDC is operated by Tanana Chiefs Conference and funded by the U. S. Department of Commerce, Minority Business Development Agency. The services of the Alaska MBDC are available to minority entrepreneurs who operate or plan to operate their businesses in Alaska. Cost is based on gross receipts of the business: $10 for $0 to $99,999, $20 for $100,000 to $299,999 and $30 for $300,000 to $999,999.

The office, located in Fairbanks, houses staff dedicated to assisting minorities develop or expand their businesses through one-on-one counseling and technical assistance. The employees are available to assist in most areas of business management, including general management, marketing, financial planning and analysis, accounting, business planning and strategy formation. In addition, public- and private-sector procurement contracting opportunities are identified for clients.

A variety of services are offered to clients such as loan assistance, bonding, insurance, grants and procurements (contracts). The office also assists with the preparation of business plans, marketing, accounting and credit counseling.

The Alaska MBDC's central focus is one-on-one counseling with clients referred to the program. In initial contact with a potential client, the first assessment made is to determine if the client qualifies for services; a determination is then made as to what marketing and technical assistance will be provided.

An introduction to the business-starting guide is discussed. The need for a business plan is highlighted early in the interview. Step-by-step, the client is taken through the beginning business process, marketing, finance and accounting, inventory control, quality management, computer training, administration and reporting.

The following information is needed to determine if assistance can be given:

* When is the business start date?

* What type of...