News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
The Cumberland Business Incubator is starting its eight-week Master Business Class on Tuesday to help develop a successful business plan for small and startup businesses.
The program’s theme is called “Start-Up and Grow.” Cumberland Business Incubator Director Holly Hanson said small businesses often come and go because the owners lack direction in the beginning phases.
“People don’t understand how long it could take before the financial wheels in your new business actually are able to support you and your household,” Hanson said. “So a lot of people start out with a side hustle and that side hustle gets to be feeling pretty comfortable.”
Hanson said the key to success is having a few months’ worth of financial cushion to support the business in case unforeseen circumstances arise. Hanson said they are still accepting late registrations for the class.
“The Cumberland Business Incubator here is to help people start and grow their businesses,” Hanson said. “It’s our mission statement to help anybody in any way we can. It’s truly the mission of the Cumberland Business Incubator is to help the economic development throughout the Upper Cumberland.”
Hanson said a lot of startup businesses struggle to obtain financial capital to expand their business. Hanson said to acquire business financing banks are going to request to see a business plan.
“It is really important I think to be able to communicate what the vision of your business is,” Hanson said. “How are you going to handle some of the rough times and how do you see the growth expanding as you move forward.”
Hanson said small businesses are the lifeblood of communities.
“We have the Nike’s and we have the automotive businesses and we have those big businesses but what really employs more people are the small businesses in our communities,” Hanson said. “And support everybody in the town. When a baseball team needs a sponsor to go on the back of their t-shirts, we typically go to those small businesses that we know are in our community and support the community.”
The Master Business Class will be every Tuesday and Thursday starting September 10th through October 29th from 5:30 PM – 8:00 PM. The class will be located at the Cumberland Business Incubator located at 2569 Cook Road in Crossville. Those who register can attend in person or remotely via Zoom. The entry fee is $500. Hanson said scholarships may be available.
