Question and answer with Dub Gulley, Director of Durham Tech's Small Business Center

*In your classes, have you seen more people turning to something they've always wanted to do?
While our entrepreneurial classes are generally made up of people who want to consider starting (as well as growing) their own businesses, in recent months we have seen an increase in laid off employees taking business skills classes and investigating the possibilities of starting their own company.

*If someone is planning on "pursuing their passion" and opening a small business, what are some of the things they should remember in this economic climate?
It's always been important, but today it's absolutely essential, for would-be entrepreneurs to follow a business planning process and write their plan. While determining one's market feasibility & niche, one's target customers and competition, and one's competitive advantages with financial projections won't guarantee success, without a plan you're planning to fail.

*Are small businesses having trouble finding start-up financing in this economy? If so, what are your suggestions?
Yes, small businesses have been among the most impacted by the drying up of financial resources. However they are also able to now look at stimulus programs to investigate if their company can be a part of these. So check your local and state governments "recovery" websites for details, and also consider contacting the federal Small Business Administration to look at their loan programs. Finally, here in North Carolina we have the Self-Help Credit Union, which hasn't been impacted by the Wall Street debacle and can make credit-worthy small business loans today.

*Are there any federal recovery monies or state funds available for small businesses?
See above. Don't hesitate as regards the recovery money, and think who your business can partner with to offer synergies in these programs.

*How can people make sure their "passion" has a niche in the market?
Back to your business plan, in which you first must determine if your business idea is "feasible" in your market given the competition, and that you can make a sufficient margin and net profit to justify your startup investment and support your business and family.

*How can the Durham Tech Small Business Center help these people?
We're often referred to as the first door you should open to access business skills training, consulting, and entrepreneurial resources in the Triangle. We offer excellent 30-hour business plan classes, over 50 topical business seminars, private counseling, and resource referrals. As your tax dollars enable us to provide seminars and counseling at no cost and moderately priced classes, it's really up to you to take advantage of our services!