Business Foundations
The Business Foundations Series
The Business Foundations Series from the Hampton Roads Small Business Development Center (HRSBDC) is a free, three-part educational program designed to guide new and aspiring entrepreneurs through the essential components of launching and growing a small business. Whether you’re in the idea stage or have recently started a business, this series offers the knowledge and tools needed to build a solid foundation and avoid common pitfalls. Each session—Management, Marketing, and Money—focuses on a critical area of business ownership, with practical takeaways that provide immediately actionable insights.
Management
The first session, Management, helps participants understand the legal and operational steps required to start a business in Virginia. Topics include choosing a business structure (LLC, sole proprietorship, etc.), registering with state and federal agencies, obtaining licenses and permits, and setting up systems to run the business effectively. This session also covers strategic planning and goal-setting to help owners stay focused and organized from day one.
Marketing
The second session, Marketing, focuses on how to attract and retain customers. Participants will define their target audience, refine their brand message, and explore both digital and traditional marketing strategies. Emphasis is placed on low-cost, high-impact tools that small businesses can use to build awareness and grow sales.
Money
The final session, Money, provides an in-depth look at business financials. Entrepreneurs will learn how to estimate startup costs, create a budget, determine pricing, and forecast revenue. Key financial statements such as profit and loss, cash flow, and balance sheets are explained in clear terms, helping participants understand how to manage their money wisely and plan for long-term sustainability.
Combined, the three parts of the Business Foundations Series provide a complete roadmap to help entrepreneurs move forward with clarity and confidence.