For those looking to start a business this year, Raccoon Valley Bank has some advice to those future entrepreneurs.

Raccoon Valley Bank Vice President Market Manager Thomas Book says that a highly motivated person with a good or service that they can provide to a community usually succeeds as an entrepreneur. Book tells Raccoon Valley Radio that someone wanting to establish a business should first talk with other local professionals for help because the issues they can run into are endless. 

“There’s a lot of good local professionals that can get a hold of to help them through a lot of that. Specifically, right now, labor is very, very hard to manage to come by finding qualified labor. Unemployment is low and COVID obviously changed some people’s mindsets on their willingness to work or motivation to work and just evaluating where they want to be with their own lives. So a lot of the small business owners are struggling through trying to find qualified labor.”

Book explains that many new business owners will need to qualify for a loan from a financier. He says they look for entrepreneurs who have a well thought out business plan with management and organizational skills before they approve any type of loan. Book notes that they strongly encourage owners starting a small business because a part of their profits usually turnover and support the community.