Resources for Self Employment Services
Transcript of Resources for Self Employment Services
Resources forSelf Employment Services
for Individuals with Disabilities
Presented by
Patti Lind
The Abilities Fund is the first and only nationwide
community developer and financial lending institution
targeted exclusively to advancing entrepreneurial
opportunities for Americans with disabilities
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Self Employment as a Vocational Goal
From an individual perspective• Business is a cornerstone of the American Dream• People who report a work disability are nearly twice
as likely to be self-employed (14% vs. 8% - US Census)
From a service-provider perspective• The national average of VR case closures due to self
employment is still 2.6% (RSA)• Encourages self-determination and allows an
individual to plan his/her vocational goal
From a business perspective• Can be a source of social and economic
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Iowa’s Entrepreneurs with Disabilities Program (EWD)
Partnership:– Iowa Department of Economic Development &
Iowa Finance Authority– Iowa Vocational Rehabilitation Services– Iowa Department for the Blind
13th year of operation 340+ businesses, 1,000+ applicants Sustainability rate exceeds national
average (50%) Businesses employ others with disabilities Business owners are demonstrating they
can replace Social Security benefits with business income -4-
Defining Business Operations:When People Go Into Business
. . . Accommodates disability
• Full Time vs. Part Time
Links underutilized skill sets & knowledge
Self determination is realized
Cultivates life long work habits
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Good Business Ideas...
• Provide clarity in all aspects through business planning– Defining business concept– Understanding market need &
demand– Financial feasibility
• Well matched to individual• Feasibility is measurable!
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Meeting the Needs of Promising Entrepreneurs
Online Business Development Tools ~ Summer 2007!
www.abilitiesfund.org
Informed Choices ©Data Collection Tool for Personal Assessment
Financial LiteracyFinancial Planning for Microenterprise
Feasibility First©
Assessing Business Feasibility
Planning for Business Success!Completing the Business Plan
Online MicroloansFor Business Start Up, Expansion, and Stabilization
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Assessing Individual Potential with
Informed Choices©
Data Collection Tool
Unique combination of data to inform the individual and business facilitators
•Individual Preparedness– Work history– Business-related technical soundness– Financial track record– Disability-related issues related to
business– Personal motivators
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Financial Literacy
Financial Planning for Microenterprise
• Are you ready to start a microenterprise?– Setting the Goal– Understanding How Your Financial Health May
Impact Business Development– Building your Assets: Saving for Business– Understanding Debt– Managing Expenses– Financial Skills for Business Owners
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Assessing the Business Idea:Feasibility First©
• Concept Feasibility:– Business idea + Management Capacity
• Market Feasibility:– Geographic Area + Competition + Markets
• Financial Feasibility:– Adequate Capitalization + Resources
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Planning for Business Success:
Completing the Plan
• Building on Feasibility First©
– Comprehensive Business Plan• Executive Summary
– Defining the Business– Organizational Structure
• Market Plan– Market Analysis– 12 Month Plan for Marketing Products/Services– Plan for Engaging Customers
• Financial Plan– 24 Months of Financial Projections– Break-Even Analysis– Plan for Recordkeeping and Bookkeeping– Plan for Engaging Funding Sources
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Access to Capital:Microloans for Entrepreneurs*
• Loan Program Goals*– Loans from $500 - $25,000– Up to 60 months– Inventory, Equipment, Licensing, Marketing and other
Start Up Costs
• Direct Loans with Loan Guarantees in States with Disability Program Navigators:
AZ, CA, CO, DE, FL, IL, IA, MD, MS, NY, OR, OK, SC,VT,WI, AK, HI, IN, MI, MN, MO, NE, NJ, RI, TN, TX, VA, WV & the
District of Columbia
• Assistance in Organizing Participation Loans
* Pending -12-
For more information, contact:
Patti LindThe Abilities Fund