CHIP TEMPLETON

Mississippi State University Small Business Development Center Director Chip Templeton speaks at a small business seminar Tuesday

Prospective small business owners from the Starkville area had the opportunity to learn some skills Tuesday through a small business seminar held by BancorpSouth in conjunction with the Mississippi State University Extension Service.

 The event drew several prospective business owners and featured accountant Christy Dickerson from T.E. Lott and Company discussing the Quickbooks bookkeeping software. MSU Small Business Development Center Director Charles “Chip” Templeton discussed basic knowledge and advice for prospective business owners in a presentation titled “How to Start a Business.”

BancorpSouth business development customer service representative Camille Mulrooney said the bank held the seminar annually.

“It’s one of the main areas we want to emphasize to help people in our community, all different people,” Mulrooney said.

Templeton discussed the importance of having a proper business plan to start with, along with making sure to know how to use various advisers and outside entities including accountants, insurance brokers, lawyers and bankers.

“These are some of the things you might want to have as you get going,” Templeton said.

He emphasized the importance of accounting and proper bookkeeping.

“There’s nothing worse than being in business and having to look backwards,” Templeton said. ”I was envisioning this big ball of twine that’s all knotted up, and you can’t go forward if your business is all knotted up, so get it done right. You may not need much help during the year other than getting your nest made, but you may find out you need more than you might think.”

He said not all businesses would require an attorney, but it was still important to have a relationship with one, in case it was needed.

“It’s a great idea to go to someone before you actually get started to kind of bless what we’re doing at the very least,” Templeton said. “Does this look correct? Do you see any holes in my documents that you need to do or contracts that you might want to get them to look at?”

 

For more on this story, read Wednesday's Starkville Daily News.

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