Entrepreneur Archive: Moresource-Inc
Moresource, Inc.—Columbia, MO
Assisted by:
Columbia Small Business Development Center staff
Kat Cunningham’s company, Moresource, Inc., employs approximately 3000 employees in 200 companies and files state withholding in 17 states. Yet, she didn’t hire any of the employees.
Kat owns a PEO (professional employer organization). Companies transfer their existing staff under her umbrella, and she leases them back to do the same job for the same pay under an arrangement referred to as “co-employment.” The IRS recognizes her company as the W-2, or payroll employer; her client is considered the worksite employer, responsible for maintaining the day-to-day direction and control, hiring and terminations.
Kat opened Moresource, Inc., in 1994. Upon the recommendation of a family friend, she contacted the University of Missouri-Columbia SBDC. Counselors immediately looked over Kat’s business plan, helped her prepare a set of three-year annual cash flow projections and a set of five-year financials then introduced her to a lending institution that provided her the funds to open her doors.
Over the years, Kat has grown her company and sought SBDC assistance as needed to maintain a pattern of well-managed growth.
“I have found the staffs of the SBDC to be extremely helpful, professional and courteous. And what is nicest from my perspective is that the help they provided was completely non-judgmental and non-critical,” Kat says. “You’re already working hard to build your business and learning from the school of hard knocks; you don’t need folks to ‘pick at you.’ You need professionals who are pleasant and willing to work with you to better your company.”
The assistance provided by the SBDC has greatly impacted Kat and her company. One can see this both economically and in terms of enhanced learning, the recognition of greater efficiencies and changes in the way she does business today as opposed to just last year.
“I have to admit that had it not been for the folks at the SBDC office, I might not be in business today. I think everyone should benefit from the SBDC’s expertise,” Kat says. “Business owners of today can’t possibly know everything. Due to the diversity of the SBDC and MO SBDC clientele, think of the exposure those folks have to different situations and how much they can contribute to your company! The assistance they offer and the programs they have are phenomenal.”
Moresource, Inc.
Kat Cunningham
2101 B. Vandiver
Columbia, MO 65202
573-814-1234 (work)
573-814-1225 (fax)
prez@moresource-inc.com
www.moresource-inc.com
Source Link: http://www.missouribusiness.net/success/moresource.asp