Interviewed by: Julian Abraham
Business Advisor
(Kosrae SBDC)
Julian Abraham, Kosrae SBDC
Business Advisor, sat down with Evelyn Palik, owner of Sakura Car Rental to
discuss the start-up process of opening up her business.
Please tell us about
yourself and your family. I am Evelyn Billy Palik, 44 years of age, a proud
resident of Lelu. I have 6 kids, and 1 grandchild.
Why did you decide to
start your own business? I am currently operating a small retail store and
wanted to extend the line of business into other areas, such as SUV rental
service.
What experience do
you have in this type of business? I do not have too much experience, but
being exposed to “retailing” with my father during the good years in business,
I am confident that I could do well.
How did the Small Business Development Center and other resources help
you? The Kosrae SBDC assisted me by guiding me through the paperwork and
business proposal process. In addition, they positively pushed me to reach my
goals.
How did you fund your business? Most of the funding came from Pacific
Islands Development Bank (PIDB) with a minimal amount being put up by us.
What were some of the biggest challenges/experienced you experienced in
the start-up process? Seeking financial assistance and compiling a workable
business plan were the challenges I faced in the start-up process.
What is your most memorable triumph in your start-up process? My
most memorable triumph would be the approved financial assistance.
What are your short-term and long-term plans for your business?
Short term plan: link up with partners and advertise. Long term plan: the
business to be able to sustain itself by the end of the financial assistance
period.
What advice would you give to others who want to start a business at
this time? Starting a business could be challenging but help is just a
phone call away, call the SBDC staff.
For more information on how the
Kosrae SBDC can assist you, contact the main office at 691-370-2751 or visit
our website at www.pacificsbdc.com.
