Innovation New Jersey
  • Home
  • Our Coalition
    • Contact Us
  • News
  • Resources
    • State Supports
    • Federal Supports
    • Higher Ed Supports
  • Join Us

Innovation News

Everything Innovation. Everything New Jersey.
Follow us and stay connected.

Wells Fargo offers Free Tools for NJ Small Businesses

5/2/2015

0 Comments

 
Trenton, NJ - In a recent national survey, only 33 percent of business owners said they have a formal business plan, yet those with a plan also have significantly higher expectations for the year ahead than those without. These results were among survey findings pointing to the value of business plans as Wells Fargo introduces The Business Plan Center, a new Wells Fargo Works for Small BusinessSM offering that provides online tools to help business owners create and update their own business plans.
In the January Wells Fargo/Gallup Small Business Index survey, business owners who said they had a formal, written plan reported much greater optimism for 2015 – their future outlook score (+51) was 12 points higher than business owners without a plan (+39) and 8 points higher than business owners overall (+43). Further, those business owners with plans compared to those without were more likely to report that in the next 12 months they expect to:
·         Increase jobs at their businesses (32 percent of business owners with plans versus 19 percent of business owners without plans).
·         Grow revenues (62 percent versus 51 percent)
·         Increase capital spending (39 percent versus 28 percent)
·         Apply for new credit (26 percent versus 14 percent).

In an effort to provide business owners with a simple, convenient way to create or revise business plans, Wells Fargo is launching The Business Plan Center, a free, online resource now available on WellsFargoWorks.com. The Center features the Business Plan Tool, a step-by-step guide to develop a written business plan. It also offers a Competitive Intelligence Tool, which provides business owners with key insight on competitors and the market for their businesses that can be used as part of the planning process. Other interactive learning resources on the new Center include videos, articles and infographics covering essential elements of a business plan.

The new Business Plan Tool will enable business owners to develop and update written plans that include a high-level summary of the business; an overview of business history, structure and management, and its current and planned products and services; a detailed marketing plan; and market and competitive analyses. It also will allow business owners to enter financial data – such as starting balances, fixed assets and liabilities, sales forecasts and expenses. The tool will generate financial statements, such as a detailed cash flow statement, profit-and-loss statement and balance sheet.

Wells Fargo is also announcing other initiatives to expand the support it offers small business owners through Wells Fargo Works for Small Business. These include:

·         Wells Fargo Works Project National Contest. For the second year, Wells Fargo is inviting eligible business owners to enter a nationwide contest to win $25,000 and a business mentorship opportunity. To enter, business owners must submit a 2-1/2 minute video or 600-word essay with a photo responding to questions about their business.  Twenty-five finalists will be selected to each receive $1,000 for their business. Five grand prize winners will be selected from the 25 finalists to receive $25,000 each for their business. The contest runs from May 1 through June 30, and winners will be announced in September. View webisodes from last year’s finalists to see how they’ve taken their business to the next level since participating in the contest.

·         New and enhanced content on WellsFargoWorks.com. The online learning resource will feature videos, articles and infographics on the importance of creating and updating business plans, as well as offer useful tips on how to approach building a plan. Later in the year, webinars will be available, focusing on the key components of a business plan, such as marketing, legal and finance. The expanded site includes hundreds of informational articles and videos, featuring financial guidance from small business experts.

Introduced in 2014, Wells Fargo Works for Small Business is a broad initiative to deliver resources, guidance and services to help more small businesses achieve financial success. It provides wide-ranging support for business owners throughout the U.S. to help them build knowledge, access capital and expand their community of support. Wells Fargo Works for Small Business encompasses the company’s commitment to helping small businesses take the next step toward their goals.
0 Comments



Leave a Reply.

    Do not miss a single innovative moment and sign up for our newsletter!
    Weekly updates


    Categories

    All
    3D Printing
    Academia
    Acquisitions
    Aerospace
    Agriculture
    AIDS
    Algae
    Alumni
    Animals
    Architecture
    Astrophysics
    Autism
    Awards
    Big Data
    Bioethics
    Biofuel
    Biomedical
    BioNJ
    Bioterrorism
    Bit Coins
    Brain Health
    Business
    Camden
    Cancer
    CCollege
    Cellular
    Centenary
    Chemistry
    ChooseNJ
    Climate Change
    Clinical Trials
    Cloud Tech
    Collaboration
    Computing
    Congress
    Coriell
    Council On Innovation
    Crowdfunding
    Cybersecurity
    DARPA
    Defense
    Degree
    Dementia
    Dental Health
    DOC
    DOD
    DOE
    Drew
    Drones
    Drug Creation
    Einstein's Alley
    Electricity
    Energy
    Engineering
    Entrepreneurship
    Environmental
    FAA
    Fairleigh Dickinson
    FDA
    Federal Budget
    Federal Government
    Federal Labs
    Federal Program
    Finance
    Food Science
    Fort Monmouth
    Fuel Cells
    Funding
    Genome
    Geography
    Geology
    Global Competition
    Google
    Governor Christie
    Grant
    Hackensack
    HackensackUMC
    Healthcare
    Health Care
    HHS
    HINJ
    Hospitals
    Immigration
    Incubator
    Infrastructure
    International
    Internet
    Investor
    IoT
    IP
    IT
    Jobs
    Johnson & Johnson
    K-12
    Kean
    Kessler
    Legislation
    Logistics
    Manufacturing
    Medical Devices
    Med School
    Mental Health
    Mentor
    Microorganisms
    Molecular Biology
    Montclair
    NAS
    Neuroscience
    Newark
    New Jersey
    NIFA
    NIH
    NIST
    NJBDA
    NJBIA
    NJ Chemistry Council
    NJCU
    NJDOLWD
    NJEDA
    NJEDge
    NJHF
    NJII
    NJIT
    NJMEP
    NJPAC
    NJPRO
    NJTC
    Nonprofit
    NSF
    OpEd
    Open Data
    OSHE
    OSTP
    Parasite
    Patents
    Paterson
    Patients
    Perth Amboy
    Pharma
    POTUS
    PPPL
    Princeton
    Prosthetics
    Ranking
    Rare Disease
    R&D Council
    Report
    Resiliency
    Rider
    Robotics
    Rowan
    Rutgers
    SBA
    Seton Hall
    Siemens
    Smart Car
    Smart Cities
    Software
    Solar
    Space
    SSTI
    Startup
    State Government
    STEM
    Stevens
    Stockton
    Subatomic
    Supports
    Sustainability
    Taxes
    TCNJ
    Teachers
    Telecom
    Therapy
    Thermodynamics
    Transportation
    Undergraduate
    USEDA
    Verizon
    Video Game
    Virtual Reality
    Water
    WHO
    William Paterson
    Women In STEM
    Workforce Development

Home   Coalition   News   Resources   Events   Join Us
Picture
Innovation New Jersey Coalition
222 West State Street
Suite 302
Trenton, NJ 08608
732-729-9619