Business Assistance Program

With a goal of continued commitment to the promotion of small and minority owned businesses in its service area, HUBAC is also committed to creation of new jobs and businesses as well as stimulation of capital investment.

Since 1982, we have provided assistance to small and minority businesses in the Hampton Roads area. 

We have serviced numerous clients throughout the year that have resulted in the strengthening of some businesses and helping others to open.  We are still serving many clients that have visited the Center during its first year of operation.  They continue to make use of our services.

The major portion of our client seek assistance in the areas of:

• Business Start-up and Plan Development 
• Business Loan Packages.

HUBAC also assist in special needs in the areas of:

• Management and Technical Assistance
• Taxes
• Record Keeping
• 8 (A) Certification Applications
• Procurement Bidding/Proposals

Starting a Business

• HUBAC will provide you with the necessary step-by-step checklist needed to start a business in the State of Virginia

• Every prospective business owner needs a comprehensive plan in order to transform a vision into a reality.
  
  
• The business plan should provide in detail, a description of the business and its products and services.
  
  
• It should include an analysis of the market, marketing strategy, and financial objectives.

Down load a business plan outline.

 In order for a business to succeed, it must have a strong business plan!

Business Loan Packages

Insufficient financing is one of the major causes of small business failures.  Whether the business is just starting up, preparing for a seasonal peak, or expanding its facilities, without adequate capital, the business will not succeed.

HUBAC works to help locate financing for businesses whether it is through local banks, savings and loans, credit unions, the Small Business Administration loan program (www.sba.gov/), citywide loan programs, such as the Department of Minority Business Enterprise (www.dmbe.state.va.us) and the City of Newport News enterprise zone loan program (www.asite4u.org).  

Management and Technical Assistance Programs

A business can only succeed if it has an owner with good management skills.

HUBAC can assist you in the areas including accounting, bookkeeping, and business plan development.  Utilizing the assistance of consultants from Hampton University School of Business, we can work directly with you in the areas of marketing surveys, advertising, and financial analysis.

Technical expertise is available in the areas of estimating and bid preparation also taxes/ record keeping.  Often what is needed to improve a business is not more money, but a new approach to its management.

Let HUBAC help find that approach.