A client may participate in self-employment training when:
- The client has a GED or high school diploma, some work experience, and/or ability to succeed without these requirements.
- The client is attending or has completed a self-employment training program or has equivalent knowledge or experience.
- The client has a business plan that:
- shows the business can be started for under $5,000;
- verifies that a loan, if needed, has been secured or that an application for a loan is pending;
- contains a marketing plan which includes a complete product or service description, the market area, the target customers and promotional strategy, an analysis of the competition, distribution, and pricing and selling methods; and
- contains a financial plan which includes the amount of loan the business will need and the repayment plan, the projected monthly cash flow over a 2-year period, the estimated cost of production and/or distribution and the estimated operating
- The Family Community Resource Center Administrator (LOA) has reviewed and approved the self-employment training activity. The RSP must be reviewed by the LOA at least once every 6 months after that.