West Texas business owners gather for inaugural Small Business Summit

“A way to share resources and education for our small business owners in Lubbock and West Texas.”
Published: May. 24, 2023 at 6:11 PM CDT
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LUBBOCK, Texas (KCBD) - The South Plains Association of Government and Caprock business finance held their inaugural small business summit with businesses from the Lubbock community and across West Texas on Wednesday.

Kelly Davila with the Caprock Business Finance Corporation said the event is a way to share resources and education for our small business owners in the community. You can define a small business by the number of employees, the market it serves, or even annual revenue, but most small businesses start with just an idea.

“I think really the idea is that it is owned by an individual or a partnership, really just an entrepreneur that has had an idea” Kelly Davila, Regional Director at Caprock Business Finance Corporation, said.

But starting a small business can come with a million questions and a lot of fear.

This summit offers panels made to answer those tough questions, because sometimes the best option is talking to a fellow business owner who has already done it.

“Put together a business plan, run the numbers, is this business gonna work, is it the right time?”

“If you do the research, do the legwork that minimizes that fear, so you don’t step into something that’s not sustainable within the community that you’re in,” Small business owner, Carl Hartman, said.

Hartman is a business owner currently looking to open a few new businesses in Lockney County; he said opening a new business comes with challenges and as the owner, it’s all up to you.

“When you’re starting a business and you don’t already have a business, it’s on you. It’s what is your credit score, what is your financial stability,” Hartman said.

But the most important thing is knowing the needs of your community and how your business will fulfill them.

“In a smaller town, when there’s needs, people recognize those needs and they can be very supportive,” Hartman said.

But Hartman said, as a business owner, be prepared to outsource some resources from your own pockets if they are not readily available in your community already.