Retired business people seeking to help others who wish to start their own businesses will hold several public events in North Hudson in October, and will offer advice on various aspects of business at the West New York Public Library.
As volunteers for the Service Corps of Retired Executives (SCORE), David Malka, a retired chief executive officer for an international conglomerate, and Joseph DeFerrari Jr. a retired banker, spend each Wednesday at the Secaucus library offering their experience to people who might have an idea for a business. Although both men hold regular sessions in the Secaucus library, they have teamed up with Felix Barrera of North Hudson to provide similar services to people seeking advice on starting their own business. With Barrera, SCORE will provide similar services by appointment at the West New York Library as well. Barrera, who was deeply involved in insurance and financial businesses, provides the fledgling North Hudson branch of SCORE with a sorely needed Spanish-speaking partner.
“We are very anxious to reach out to the Hispanic community,” said Malka.
SCORE is a national network of nearly 12,000 volunteer business executives and professionals – mostly retired, but many still active – which provides small business with technical and managerial counseling and training. These services are free of charge. While the chapter headquarters for SCORE is in Newark, Hudson County has traditionally had a sub-chapter in Jersey City where hopeful entrepreneurs could seek advice and guidance.
Malka and DeFerrari, both residents of Secaucus, said they set up the new sub-chapter in the Secaucus library to reach out to potential clients in northern Hudson County, a place that has a great potential for future business opportunities. Malka said SCORE will be cooperating with Oscar Miqueli, the coordinator of North Hudson’s Urban Enterprise Zone, to help local business owners in such areas as to how to borrow money, how to set up a business plan, or even how to start up a new business.
“By opening a business in an Urban Enterprise Zone, a person would have the advantage of only having to charge half the current sales tax,” Malka said.
As members of New Jersey SCORE, Barrera, Malka and DeFerrari volunteer their time, expertise and knowledge to help the local small business community through no-fee counseling.
“This is sponsored by the Small Business Administration,” said Malka.
Most new businesses fail mainly because they do not have a business plan, Malka said. A typical business plan includes a description of the business, a statement of purpose, marketing plans, and other financial issues. SCORE representatives around the state act as the first critical test. They listen to ideas and let you know if you are going to waste your time or if you have a viable plan.
The team has also reached out to public officials throughout North Hudson and will present their services to officials from various public offices at a special breakfast kickoff meeting from 9 a.m. to 11 a.m. on Oct. 2 in Scheutzen Park in North Bergen.
This event, to which the mayors and other officials have been invited, will highlight the services SCORE can provide and encourage the public officials to help direct local business owners and others toward SCORE.
“We want mayors, librarians and civic groups to attend so they know what we do and can tell other people,” Malka said.
On Oct. 22, SCORE will hold its first public lecture at the West New York Library from about 9 a.m. to noon. This would be open to anyone interested in running a small business.
Meanwhile, business people can contact SCORE at the Secaucus branch for a person-to-person consultation or make an appointment to meet at the West New York Library. The Newark office provides telephone counseling as well as seminars on starting and managing a business. The office also has a Business Information Center and library with computers, books, videos, and nearly 200 business start-up guides.
SCORE also has a sub-chapter through the New Jersey Economic Development Corp. in Jersey City that meets on Mondays and Wednesdays from 9 a.m. to 2 p.m.
The Secaucus sub-chapter of SCORE is available from 10 a.m. to 2 p.m. every Wednesday in the town’s library. For more information, call (201) 330-2083 or e-mail them at score@secaucus.org.
For the Jersey City SCORE call (201) 333-7797.
The SCORE Newark office is (973) 645-3982.
You can also call the West New York Library at (201) 295-5135.