Business Assistance Program Los Angeles County Economic Development - PowerPoint PPT Presentation

Free and Confidential Business Assistance Program Los Angeles County Economic Development Corporation (LAEDC) Los Angeles County Workforce Development, Aging and Community Services (LAC WDACS) Joe Torres Area Director

What are the Challenges Faced by Small Businesses Today?

Top 10 Challenges Faced by Small Businesses Today 1. Access to capital 2. Cash flow management 3. Cost containment: having too many overheads 4. Hiring and retaining employees: competencies and recruiting the right talent 5. Finding and retaining profitable customers 6. Time management: delegating tasks 7. Technology: staying current and relevant 8. Marketing strategy 9. Business growth 10.Government regulation and compliance

Los Angeles County Business Assistance Program 1. Free and confidential. 2. Federally funded and administered by LA County WDACS and LAEDC in partnership with the City of Lynwood to help small businesses overcome challenges, grow and succeed. 3. One-on-one consulting.

Business s Assistance e Program m How w the e Program m Works: 5 5-Step p Process s 1. Enrollment Small business enrolls in the free program by completing a business needs enrollment form. 2. Assessment LAEDC Business Consultant works directly and confidentially with business owner via one-on-one consultations and detailed company analysis; identifies challenges/opportunities. 3. Customized Strategy Develops a customized action plan of proposed solutions and approach for Blueprint solving problems and leveraging opportunities. 4. Blueprint Service Upon approval of the business owner, LAEDC Business Consultant introduces Delivery programs and resources for implementation, partner organizations, and/or third party consultants. 5. Follow-up After completion, follow-up by LAEDC Business Consultant to assure customer satisfaction and explore further business challenges/opportunities.

Business s Assistance e Provided d Small l Busin iness s Fin inancing g • Technical Assistance • Credit repair and loan packaging assistance • Access to traditional and non-traditional funding sources Employee e Hir irin ing/Workforce e Development t • Free customized training, skills assessments and technology instruction for new and existing employees • Free postings of your employment opportunities • Pre-screened qualified candidates

Business s Assistance e Provided d Busin iness s Tax x Credit its s and d Workforce e In Incentives s • County and Statewide tax incentives for qualifying small businesses • Employee wage subsidies • Employee tax hiring credits Cost-containment t • Workers Comp, disaster preparedness, cyber security • SCE energy and utility incentives • Operational efficiencies and cost-reduction programs

Business s Assistance e Provided d Identify Id y New w Sources s of f Revenue e – Gov’t Procurement • Los Angeles County  About $1 billion dollars in LA County contracts  LA County’s 25% small business contracting goal • State of California • LA Metro • Ports of Los Angeles and Long Beach • Los Angeles World Airports • California High-Speed Rail • Export and import assistance and consultation • Small Business and Minority-Owned Business Certifications Permit it & & Lic icensing g Exp xpedite e • County, State, and environmental • County plan check assistance

Business Assistance Program Permit Financing Assistance Tax & Energy Workforce Reduce Risk/ Increase Economic Data Efficiencies Bottom Line Incentives County City Loan Programs America’s So Cal Lean Job Centers Economic Manufacturing/ Edison LA County of California Process Forecasts SBA Public Improvement Works Employee Gas Co Hiring Risk LA County Traditional/ Management/ Training Health Non Employee Demographics Dept Traditional Benefits Business State Governor’s Tax Incentives State Office of Bus & Incentives Cost Econ. Dev. Industry Segregation Specific Data Municipal Workforce Site Programs Incentives Searches Expense Reduction Analysis

Next xt Steps s LA LA Co County y Bu Busin iness s Ass ssis istance e Program m 1. Enroll today. 2. Schedule an appointment for a one-on-one consultation. 3. Set your business on a sustainable path of growth and profitability.

Thank you for your valued participation!