Business

Dissolve a partnership

My sister-in-law and I own a business. We have reached an agreement in which she will buy my share of the business. The store has not yet shown a profit, but I expect it will show a large one for the next tax season. How do we officially disband our partnership in order that my name will not be associated with it in any way?

The forms to dissolve a partnership can be found at the Missouri Secretary of State's Web site. Find the correct form and make sure it corresponds to the type of partnership you and your sister-in-law currently have. The remaining owner(s) will need to file the correct form for the type of business entity under which she will continue operating. You may just want to amend the existing partnership if the remaining partner(s) will continue to operate as a partnership.

Chris Bouchard
Associate State Director
Missouri Small Business Development Centers

Review a business plan

Do you have someone who could review a business idea or plan?

All of the business development specialists located throughout the state of Missouri can provide a professional assessment of a proposed plan or idea from anyone seriously considering starting a business. Our counselors are skilled professionals with experience in many areas including:

Marketing and sales
Accounting
Financial analysis
Cost control
Personnel
Inventory control
Business start-up or acquisition
Business liquidation or sale

To locate a business development specialist near you, please consult the Missouri Small Business Development Centers’ Web site.

Phil Leslie
Communication Specialist
Missouri Small Business Development Centers

Consignment sales

Where can I find companies willing to let me sell their products on consignment?

There are several ways to find a business in any category, whether it is a consignment business or something else. The easiest way is to look in the yellow pages under the category you want. To expand your search outside of your local area, most libraries have yellow pages from several communities in your region.

Every industry has a trade association. These trade associations can be very helpful in finding information on businesses they serve. You can find listings of trade associations on the Internet. One of my favorites is the Encyclopedia of Associations. You can also search for a specific type of association by using key words in your search such as "consignment associations."

You can also pay for lists from databases maintained by private companies. Doing an Internet search for "business lists" will give you a number of choices.

Chris Bouchard
Associate State Director
Missouri Small Business Development Centers

Government grants for small businesses

I am looking for grants for small businesses in rural areas. Everywhere I go wants a monthly fee to help. What can I do?

Although many advertisers would like you to believe otherwise, the government does not award grants to start businesses. Most grants are awarded to non-profit agencies. Very seldom are they awarded to fund for-profit enterprises like a small business. The grants that are available for small companies tend to be very specifically focused on very unique purposes, such as providing childcare or working with disadvantaged children. Grants of that type may not be used for general business operating purposes or to cover start-up costs.

Additional information on this topic can be found in an article about government grants on the MU Extension business development Web site.

Mary Paulsell
Director
University Center for Innovation and Entrepreneurship

Developing business leaders

Do you have a program for developing business leaders?

I urge you to explore our Missouri Business Development Programs Web site to discover the many informational and educational opportunities it presents. Among the features is the offer of a Small Business Start-up Kit on a modestly priced CD. The kit offers in one convenient package many of the lessons and articles available throughout the Web site.

Phil Leslie
Communication Specialist
Missouri Small Business Development Centers