Contact: Mary Matusiak Created: 2022-01-24 Date Emailed to Staff: 2022-04-08 Effective Date: 2022-04-01
Summary of Changes
Updates made to the following definitions:
Feasibility Study- Study completed to determine the feasibility of a self-employment goal. Job goal, functional limitations, supports, labor market information, competitors, etc., are examples of things that are evaluated as part of this process. A positive feasibility study is necessary in order to move forward with business planning.
Viability Study- Study completed to determine whether an existing business is financially viable. Predominately an evaluation debt to asset ratio, and the last three years of taxes, and other relevant financial information to determine if the business is sound and profitable.
Self-Employment Consultation- Completion of a feasibility study to determine the practicality of a business concept, or a viability study to determine the stability of an existing business. Cost not to exceed Rule 72 Fee Schedule.
Business Plan Development- Team or Community Service under assessment supports. This only includes development of business plan which must be completed prior to an IPE being written. Outlines the concepts and projections for the business, as well as funding sources.
Business Plan Implementation/Revision- Team or Community Service provided under planned services. This is predominately used for the implementation of the developed business plan, but can also include the development of a capability statement or a business plan revision.
Small Business Start Up Expenses- Required business start-up expenses remaining after all assistance and participation from other sources has been applied. Cost not to exceed Rule 72 Fee Schedule.
Self Employment Training-Any training for the client that is needed to start up or maintain a business. Examples include accounting/Quickbooks, equipment operation, etc. This is not considered part of start up funds, and should be authorized under Miscellaneous Training-Other Classes.
Also a few minor process updates to reflect IPE changes, including adding language such as Document Team Service.
A couple of years ago, we changed Business Plan Development from a Community Service to a Team Service. However, we have not been documenting it as a Team Service. We are now requiring that it be documented as a Team Service so we get credit for it. This change has also been added to the process.
Where your future begins