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Small Business Owners Get Free Help From Experts

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Feb 11, 2009 2:47 pm US/Mountain

Small Business Owners Get Free Help From Experts

Reporting
Shaun Boyd
DENVER (CBS4) ― In these hard economic times, many small companies are struggling just to keep their doors open. They certainly can't afford pricey consultants or financial advisors.

But a non-profit is now helping these companies by providing free business audits. We're not talking about just any volunteers, but retired CEOs, Chief Financial Officers, sales managers and other experts in the field.

The group is called SCORE and it has volunteers in almost every discipline. Last summer they launched a program unlike any in the country that offers small businesses free audits and an action plan aimed at helping them.

For engineer Ron Geurts, when construction slowed down and contracts dried up, he knew he couldn't fix things alone.

"I didn't want to admit to myself or even admit to others," said Geurts."When you start to get in trouble and you start dealing with major decisions sometimes a part of your brain shuts down unconsciously."

It got tougher still when Geurts, a National Guardsman, learned he would be deployed to Afghanistan in six months. He needed help. SCORE volunteer and fellow engineer John Morgan offered a hand.

"I've been in the business since 1960," said Morgan. "If I can help someone from not failing and not making mistakes I made in the business then I feel good."

Morgan collected detailed information on Geurts' business. Then he called in a team of experts, including a retired CFO, CEO and sales and marketing manager. They analyzed the data and drew up an action plan for free.

SCORE just launched the small business audits this past summer. A company must have at least three to five employees and be in business at least three years to qualify.

SCORE has a contract that ensures the financial information won't be shared outside its volunteers.

Geurts says there's no way he could have afforded that kind of expert advice. Now he's ready to take it and beat the recession.

"I refuse to admit defeat."

(© MMIX CBS Television Stations, Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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