Building a Better Business
In 2019, NeighborWorks Housing Solutions was tasked with managing a $1M Venture Loan Fund for the City of Brockton. Created by five financial entities, HarborOne Bank, Eastern Bank, SCU Credit Union, Rockland Trust and North Easton Savings Bank, this fund is for small businesses who want to start, grow and/or relocate to Brockton.
Each new or growing business helps to fuel the city's economic engine by creating jobs and stimulating the need for housing. Through the banking partnership, opportunities can be envisioned in the local business community.
This fund allows small businesses loans of up to $50,000 for businesses in Brockton. To qualify for the fund, NeighborWorks has developed a small business program that prepares all applicants with a functional business plan. Once the business plan is in place, we can begin the loan application process. We will help guide you with your plan, making sure all the necessary elements have been researched and documented.
The program “Building a Better Business” consists of three classes. Each 2-hour class will be educational and interactive as we will use group brainstorming and technology throughout the session. We will be assigning homework to move you along in the business planning process.
In this class, we will discuss being and/or becoming a business owner and asking basic questions that will help define your business.
- Micro Moments
- Being an Entrepreneur
- Personal Credit
- Business Types & Tax Responsibilities
- Your Idea
- Your Product and Customer
In this class, we will discuss the importance of marketing and it’s many useful tools. The least funded, yet most important, marketing can ultimately make or break your business.
- Living through 2021
- SMB Marketing Challenges
- The Marketing Wheel
- Your Website
- Integrating the Tools
In this interactive class, we will walk through the research and development of your product or services. We will search for information that will help to understand your financial projections and give you solid results on starting and/or growing your business.
- Industry Experience
- Executive Summary - Your Story
- Team Approach
- Start-Up Cost & Monthly Expenses
- Pricing & Breakeven
- Cash Flow & Projections
- Accountants & Accounting Software
After completing the classes, we will be available to help you in the building of your planning process. We will also guide you through the growth process, if you need assistance. We will help you identify key growth factors that will grow your business to a point where additional cash input is needed.
If you have questions about the program, see our Small Business Education FAQs page.
This program is open to any and all individuals that would like to learn more about starting and growing a business. If you are starting, growing or moving to Brockton, you may be eligible to apply for the $1M Venture Loan Fund. If you are from other surrounding communities, we are in the beginning stages of creating other loan opportunities. See the Community Loan Programs page for more information.