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

empowerment -3-

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

prlind@abilitiesfund.orgwww.abilitiesfund.org