The Talbot County Department of Economic Development and Tourism will launch its new Talbot Works Business Academy, a free online business training program to help small businesses succeed and grow, in early 2024.
The first 8-week program begins on Tuesday, February 6, and meets via Zoom each Tuesday from 6 to 9 p.m. with graduation scheduled for Tuesday, March 26. Small business owners who have been in business for at least two years and have a revenue of less than $1.5 million are encouraged to apply.
“The Talbot Works Business Academy links the latest ideas with timeless business principles to show participants how to increase revenue and sales, manage expenses, hire more people, create a sustainable business model, and prepare to access capital,” says Cassandra Vanhooser, director of Talbot County Department of Economic Development and Tourism.
The program was developed by business management and technology consulting firm Will Holmes Consulting, a Baltimore-based company that offers business capital, coaching, and operational solutions to emerging companies. It has been implemented successfully at Johns Hopkins University, Morgan State University, and the U.S. Small Business Administration, as well as Anne Arundel and Charles counties.
Session topics include building sustainable organizational infrastructure; leading people and planning for growth; marketing and selling B2G, B2B, and B2C; accounting, human resources, legal, taxes, and insurance; and preparing for capital and essential financial documentation.
Classes are limited to 15 participants who meet all criteria and are selected through an application process. To qualify, participants must be business owners in Talbot County and have the ability to scale their operations, hire people, and have a positive impact on their community.
Local business owners who are selected will be invited to a 15-minute interview via Zoom. Up to 15 candidates will be chosen and notified via email to participate in an upcoming cohort. A second program will begin in the fall starting on Tuesday, September 10, and running on Tuesday, October 29.
To graduate from the program and receive a Certificate of Completion, participants must attend and participate in each class; submit weekly homework assignments before the next class; meet with senior advisors each week; meet two times with each of their law, accounting, and human resources mentors; present cash flow projections; give a practice presentation; and give a final 15-minute PowerPoint presentation.
Vanhooser says graduates can expect to have a better understanding of their financial reports, a budget for their growth, and a plan to pursue opportunities to attract new clients and access capital from lenders and investors.
Applications by business owners can be made online at www.talbotworks.org.
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