DATE: Monday, May 26, 1997                  TAG: 9705240389

SECTION: BUSINESS                PAGE: D1   EDITION: FINAL 

SOURCE: STAFF REPORT 

                                            LENGTH:   43 lines

SERIES TO HELP ENTREPRENEURS GET A SMART START

The fantasy: One day you walk into the boss' office, drop your letter of resignation on her desk and say, ``I've started my own business. I quit.''

The cold reality: Sixty percent to 80 percent of small businesses go belly up within five years.

The Hampton Roads Chamber of Commerce, however, wants to improve your chance of success with a new program, ``Chamber Smart Start.'' It's a six-week course that aims to give budding entrepreneurs the financial and management tools they need.

``It's really targeted at the individual who is interested in starting a business that they expect to be a full-time undertaking,'' said Bill Holloran, senior vice president for business services and legislative affairs for the chamber.

The first six-week series begins Thursday, from 5:30 to 8 p.m., at the chamber's Virginia Beach office, 4512 Virginia Beach Blvd.

Subsequent six-week series will be held in chamber offices in each of the other Hampton Roads cities through November. Sessions will cover business plans, accounting, legal considerations, banking and other topics. The final session will be a panel discussion with small-business owners.

``For individuals, our goal is to allow them to determine if their business idea is commercially viable,'' Holloran said. ``Our overall goal is economic impact. A firm that starts and is successful contributes to the tax base.

``Most folks will come out of it and will not start the business,'' he added. ``Those who do will have a greater chance of success because they got training. Trial and error in business costs you money because you tend to run out of working capital.''

Funding the program are Virginia's Business Development Network, Crestar Bank, the U.S. Small Business Administration, the Virginia Department of Business Assistance, Small Business Development Center of Hampton Roads, Thomas Nelson Community College and the Virginia Eastern Shore Corp.

Cost of the program is $99. Reservations are required. For more information, call Cindy Davenport at 664-2572. ILLUSTRATION: Color photo

Bill Holloran

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