Search out resources that are timely to starting and growing a small business.
For any entrepreneur to be successful in starting a business, they must have the right help and resources to support of their hard work. Just finding the right assistance and resources can be very time consuming, but once found those resources may be critical for a small business to succeed.
The following is a list of helpful resources for an entrepreneur starting a small business:
- Public & Private Grants to Small Businesses
Having sufficient capital is a major challenge for starting and growing a business. Corporations, foundations and government agencies are sources for grant funding that small businesses do not have to repay. Three examples are:
The annual FedEx Small Business Contest gives $30,000 in grants to the top ten grand prize winners. Fearless Fund in collaboration with Amazon awards grants between $10,000 and $20,000 to black women in their Black Business Accelerator program and the Minority Business Development Agency in the past has awarded grants to college and universities that assist undergraduate students with entrepreneurship.
Some grants target underrepresented communities, others are open to all small businesses and others are tied to early technology research. A comprehensive list of grants that help small business owners in starting and growing their business may be found here.
- Government Resources
The U.S. Small Business Administration is a great resource in a range of areas. The SBA runs programs often in partnership with local organizations. It has a small business loan guarantee program and runs awards that recognize entrepreneurs and ecosystem stakeholders who provide assistance to small business owners. Learn more here.
Small Business Development Centers (SBDCs): SBDCs are funded by the U.S. Small Business Administration (SBA) and offer free or low-cost consulting, training, and assistance to entrepreneurs. Their assistance for starting and growing a small business includes business planning, financial management, marketing, and more.
SBDCs are in office locations around the country. Find those close to you here.
SCORE: SCORE is a nonprofit organization that is funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. Its mission is to foster vibrant small business communities through free mentoring and education workshops for small business owners. Their seasoned mentors are able to assist small businesses in a range of areas. Learn more
Federal Grants are available to startups and small businesses through the various federal agencies. Check out Grants.gov, the centralized resource for federal grants posted by government agencies.
Government Procurement Contracts are a great resource for small business with some programs set up specifically for women and those in underrepresented communities. Visit the federal procurement web site called the System for Award Management (SAM) where federal agencies post contract opportunities. This is a great way to jumpstart a small business.
Keep your eye out for local representatives or educational events on how to register and apply for Federal procurement contracts as well as similar programs in your State.
State government agencies are also a source of resources for small businesses. Check your state’s agencies such as those for economic development and others for programs, as well as seek out information on licenses, permits, regulations, and incentives that may be required to start a business. As part of the registration process, some states offer programs and training specifically focusing on those just starting a business.
- Business Incubators and Accelerators:
Incubators offer entrepreneurs and startups workspaces that are typically below market rates. They also provide a range of in-house services, are a great place for networking with fellow entrepreneurs and can be a source for outside resources that includes funders who attend incubator events and programs.
Accelerators are programs run by a range of organizations and funders to assist the best startup applicants they choose. This includes classroom training and mentoring, but most helpful are the accelerators’ ties to large corporations and outside parties who assist the companies in finding their first customers. The accelerator programs typically end with a demo day in which the members of the graduating cohort pitch their business models to invited guests—many of whom are angel investors and partners in venture capital firms. Full list of U.S. Accelerators found here.
- Networking:
Opportunities to meet other business contacts exist in a wide range of event venues run by Chambers of Commerce, local Meetups.com, industry associations, government sponsored or run events and more.
The best approach is to attend events run by a few different organizations and determine which ones offer contacts that you are seeking for your business. That can range from finding potential customers, meeting peer small business owners and learning about funding sources and ways to approach them.
By becoming a regular attendee and getting to know the organizer are two ways to make networking more productive to your goals.
While networking creates a network of resources that can be helpful along your journey, keep in mind that more successful people are often gateways to greater business opportunities.
Approaching and gradually laying groundwork for a relationship with someone more senior and more successful in business may eventually pay off. Also, establishing a mentoring relationship with someone can be helpful in moving a business forward.
- Online Courses and Workshops:
Many universities, online platforms, and organizations offer courses and workshops on entrepreneurship and small business management. Websites like Coursera, edX, and LinkedIn Learning have relevant courses. Many organizations that run networking events also set up their events around educational topics and/or hosting panels of which many are run virtually.
- Products & Services for Startups and Small Businesses:
Whether a startup or an established business, it is important that a company utilize the best products and services that bring value and efficiency to their operations. Products and services geared to startups and small businesses range from accounting and bookkeeping, customer relationship management software, web site design, email marketing and more.
Learn more about the companies offering core products and services that help startups and small businesses grow.
