GWCORP

The current economic recession is expected to get worse – possibly much worse - before it gets better.  Small businesses are struggling mightily due to the downturn and many will fail without assistance and support. What can they do NOW to stem their loss of revenues and profits?

Area service providers are working together to address this problem.  The Greater Wilmington Coalition of Resource Partners (GW CORP) has created a strategic partnership to provide FREE professional mentoring, counseling, and training to assist the Greater Wilmington small business community to help them survive – even thrive - during this unprecedented economic recession.

Research indicates that over 50% of small businesses fail within the first 3 years. The majority of those businesses do not fail from a lack of capital resources but rather due to lack of strategic and operations management expertise.

Companies that develop a business plan have on average 50% more revenue and profit growth than companies that do not develop one.

The GW CORP organizational partnership is comprised of the Small Business Administration (SBA), SCORE – Counselors To America’s Small Business, UNCW Small Business Technology and Development Center (SBTDC), Cape Fear Community College Small Business Center (SBC), Brunswick County Community College Small Business Center (SBC), and the New Hanover Library System.

Each resource provider can provide counseling services in developing a detailed and focused business plan – which is the foundation for success of any business. Each business makes the decision which resource provider they feel most comfortable with.

Don  Spry, Senior Area Manager at SBA in Wilmington, serves as project manager for the GW CORP. 

Members of the GW CORP also provide specialization within each of their core service missions:

(a)     A client should seek the library for research and analysis at every stage of their development of a business plan. 

(b)    The Community College SBCs provide seminars and workshops geared to startups and those existing businesses seeking business skills development. 

(c)     The SBTDC provides detailed business plan development and economic data modeling for startup or existing business plans.

(d)    SCORE provides startup or existing business clients with counseling and mentoring by retired executives with years of industry-specific real-world experience which can help jumpstart the lessons learned process and offer industry insights into pitfalls to avoid as well as emerging industry trends to consider. 

(e)     The SBA provides detailed lending advice on SBA loan programs tailored to meet the specific needs of the client.

At any stage, a client may choose to work with one, two, or all the GW CORP resource providers in seeking to craft the best possible business plan.

In addition to providing assistance directly to small businesses in obtaining an SBA loan guaranty with their local bank, the SBA also provides funding to resource providers throughout the state of North Carolina with SCORE Chapters, the UNC SBTDC network, and Women’s Business Centers. 

GW CORP is now working with area business membership associations in providing their services directly to existing small businesses.  Their first event will be a Survive and Thrive Panel Discussion with the Hampstead Chamber of Commerce for its 250 members.

For more information on GW CORP, contact any resource provider below:

SBA:                                       Don Spry at 815-3188           

SCORE:                                  Sara Raleigh at 409-9865

SBTDC:                                  Amy Cobb at 962-3744

CAPE FEAC SBC:                 Doug Tarble at 362-7469

BRUNSWICK SBC:              Tom Hemphill at 755-7306