BEST DESIGNED TO REDUCE BUSINESS FAILURE RATE

Given the odds against them, people entering into business on their own make gamblers playing one-armed bandits in Las Vegas look cautious. The risk-takers in the Nevada desert oasis have overall odds only slightly in favor of the house.

People who want to delve deeper into risk-taking should attempt entrepreneurship. New businesses face grisly statistics: the scythe of the Grim Reaper of new businesses hacks down 80 of 100 of the fledglings, allowing a miserly low 20 percent success rate.

A pilot program at Southeast Missouri State University, the only one of its kind in Missouri, may help paint a brighter picture. The university is sponsoring a 16-week program called Business Enterprise Start-Up Training (BEST) to alleviate the failure rate.

The course is designed to help people build a solid foundation and develop their business idea. It is offered through the university's Small Business Development Center.

"This is the only organization in the state to be offering the program," said center director Buz Sutherland. "There is a good chance it will be offered elsewhere in Missouri."

He and Steve Byrd of the department of management in the School of Business are conducting the program. They got their feet wet last year when the BEST program was offered for the first time. He declared the initial offering a success for its nine participants.

Sutherland said: "We introduced them to resources to help the small businessperson. Part of the program is to provide experts in various fields to speak with the group. We also provide one-on-one counseling working through their business idea and help develop a business plan."

Seven people spoke last year on matters concerning accounting, marketing, taxes, bookkeeping, computer usage and more.

The program served as a learning experience for the coordinators as well as the students. He said they are making some adaptations this year such as bringing in more speakers and reducing the size of the application form.

Said Sutherland: "The BEST program was developed by two PhD.s at the University of Indiana as a full-range approach to prepare people for going into business. Drake Technologies of Tucson, Ariz., acquired the rights to it, and the Small Business Administration bought the licensing rights from Drake."

The 16-week program starts the first week of November with an orientation session scheduled the week before. Applications are due by Oct. 1.

Tuition of $425 includes a set of comprehensive business start-up materials, business planning forms, and access to resources available through the Small Business Development Center. For an additional fee, participants may receive three hours of university credit upon completion.

Topics covered include analyzing market opportunities, selecting target markets, developing a market mix, pricing strategies, advertising, promotion, public relations, selling, money management, location, bookkeeping, taxes, organization, acquiring equipment and business planning. The group meets weekly in the evenings.

People who are eligible through the dislocated workers program may qualify for assistance. Several participants in last year's program went through it. Interested persons should check with the local Private Industry Council. The council and the University Foundation provided financial support to help get the program started.

"Anyone interested in going into business for themselves who needs some help should call for information and an application," Sutherland said. "They should have a specific idea in mind." The office number is 290-5965.