Fairfax County Economic Development Authority’s Post

#SmallBiz | Small business #grants, which offer access to capital with little to no repayment requirements, are an attractive #funding option for entrepreneurs looking to start or grow a #business. However, careful research is needed to find the best fit and avoid #scams, according to SCORE Mentors, mentors to America's small businesses.

Minority entrepreneurs, it's your time to shine.🌟 The SBA is fostering an inclusive business community, equipping diverse business owners with resources and loans to thrive. Our latest article presents 4 tips that empower diverse business owners. So let's overcome those financial hurdles together. Tap the link to start your success journey with us today!

Eligible Business Owners can turn $2500 into $10,000 in 6 months! Holy Rosary Credit Union is partnering with KC Bizcare and the Ewing Kauffman Foundation to establish a Small Business Development Account program that will help turn your entrepreneurial aspirations into a reality. An Individual Development Account (IDA) is a savings account where the money you save is matched by a program’s sponsor or financial institution. PLEASE KEEP IN MIND, ONLY 20 APPLICANTS WILL BE SELECTED AND ONLY CERTAIN BUSINESSES ARE ELIGIBLE.   HOW IT WORKS Save: Commit to saving a minimum of $2,500 over six months in a dedicated IDA matched savings account at Holy Rosary Credit Union. Match: City funding provides a generous 4:1 match, potentially doubling your savings to a whopping $10,000! Grow: Access a wealth of workshops, mentorship, and technical assistance to hone your skills and build your business acumen. Connect: Network with fellow entrepreneurs and industry leaders, forging valuable partnerships and building a supportive community. WHO IS ELIGIBLE Must be private, for-profit business. Must be operating in the tourism industries. (i.e. arts/entertainment, food, retail, etc.) Must employ ten (10) employees or less. Must have been in business for at least two (2) years. (i.e. established prior to January 1, 2022.) Must maintain an active 2024 KCMO business license (upload a copy). Must maintain a principal place of business within the boundaries of KCMO. Targeting entrepreneurs with annual household income at or below 80% of the Area Median Income (AMI) for KCMO. Currently at $57,500 for a family of four. Not required to participate. Must commit to saving a minimum of $2,500 over a four-month period. HOW TO APPLY           CLICK THE LINK BELOW: The Individual Development Account (IDA) is found at the bottom of the webpage. There is a short program overview and then a link to apply. Deadline to apply is April 30, 2024.   Keep in mind, there are other programs on this site you may quality for. Don’t be afraid to check them out as well! If you have any questions feel free to reach us at 816-221-2734 or stop by a branch. https://lnkd.in/gNYzS_tz

Shedding light on small business grants A recent find sparked thoughts on opportunities for growth and innovation in the entrepreneurial world. Numbers unveiled a surprising surge in small business grants applications, showcasing a thirst for expansion and resilience in the industry. The balance tips in favor of budding entrepreneurs with increased grant accessibility, paving the path for diverse ventures and economic stimulation. As the grant landscape evolves, navigating these opportunities becomes crucial for aspiring business owners, fostering a climate of creativity and progress. Statistical insights corroborate the wave of grant applications, hinting at a promising future for small businesses seeking financial support. Let's keep the momentum going and empower the entrepreneurial spirit to thrive amidst challenges and uncertainties. https://lnkd.in/e69UpHVH

Every #entrepreneur knows that building a business requires a little assistance sometimes. The good news is that assistance is out there and easier to access than you may think. This article serves as a guide for small businesses that are looking to grow, offering information on free grants and other programs. Another way to grow your small business is through #GovernmentContracts. To learn more, visit our website at birchtreesolutions.com! #BusinessGrowth

Today is the 14th anniversary of my business The Art of Applying! 🎉 Here are 7 big wins + 7 pieces of advice for emerging, established, and aspiring entrepreneurs: 💪🏾 7 Big Wins: 💎 I was able to pay off $150,000 in student loans within 7 years of graduating and starting my business, solely from the proceeds of the business. 💎 I grew the business to a million-dollar business in the 8th year of business. 💎 I got my biggest client ever this year: $187,200 — and I really enjoy working with him! 💎 We had a 100% success rate with getting our clients into Harvard Kennedy School's Mid-Career Masters in Public Administration this most recent season. (And likely 90%+ for the other HKS degrees too, but I haven't checked yet!) 💎 I was able to take 6 weeks off for medical leave in 2020 and my team not only maintained the business but grew revenue and grew the team while I was out! 💎 We've helped 1000+ paying clients get into their dream schools, often with huge scholarships. 💎 I love it when past clients return to join the team as Consultants or in other rules. 💌 7 Pieces of Advice: 🔺 For bootstrapped business, cash—and access to cash—is almost everything. Don't keep yourself busy with activities that don't generate revenue for the business. 🔺 Ask your clients to share about their experience working with you—and then put that testimonial online where it can be found via search. Having clients share their stories is the most powerful social proof there is. Most of our clients come to us after stumbling upon and then watching our client testimonial videos on Youtube. 🔺 Watch your overhead. You're probably way overpaying for software subscriptions, coaching programs you aren't actually implementing, and team members you are under-utilizing. 🔺 Sometimes, potential clients will expect you to deliver 10x what your competitors do for the same price or less than what your competitors are charging. This goes even more so if you are a woman, person of color, have a visible disability, etc. Make sure you have a strong flow of leads coming through your business so that you don't feel like you have to toxically overpromise and overdeliver because you are desperate for clients. 🔺 Being in community with other entrepreneurs will help you feel less isolated, and give you an important sense of belonging. 🔺 Prioritize highly search-friendly and evergreen lead generation strategies where the money and work that goes into your marketing lasts beyond the whims of social media algorithms. Examples are search-engine optimized blog posts, Youtube videos, Reddit posts, and Pinterest posts. 🔺 Find a mentor who has what you want, and be willing to pay them if they charge for their expertise. I have several unpaid mentors (usually the very wealthy ones who have already exited their companies!) and have had many mentors and coaches who I have sought and paid. Their advice has been invaluable. To 14 years and many more to come!

It’s amazing how many funding options are out there for small businesses, but choosing the right one can feel overwhelming. Recently, I dove into a great article that shed light on various funding avenues. A while back, I was at a crossroads with my own startup and faced a similar dilemma. I remember scrolling through countless websites trying to find the perfect fit for my needs. What struck me most from the article is the emphasis on knowing your business needs first. This advice resonates so deeply—it’s easy to get distracted by flashy offers without understanding what will truly benefit your growth. The key takeaway? Take the time to assess your financing needs before jumping in. Whether it's loans, grants, or alternative funding, there's something out there for everyone, but you've got to do your homework to find it. Has anyone else had a similar experience with securing funding? What choices have worked best for you? https://lnkd.in/gsdmXuN

The latest report from Lendio has ranked Florida as the top state for small businesses! With a low corporate tax rate of 5.5% and a significant influx of consumers and companies, the Sunshine State is the place to be for #entrepreneurs. 🔹 Key Highlights: • Florida ranks 12th in SBA loan dollars received. • Ranked 2nd for the number of loan offers through Lendio's marketplace. • Over 50% of startups in Florida survive for at least five years! In 2023, Florida was ranked No. 2, but this year we've taken the top spot, surpassing Texas and North Carolina. Click here to learn more!: https://lnkd.in/gAUsDnwC

Small business grants are designed to support entrepreneurs during the critical early stages of start-up and growth. They provide valuable assistance to help businesses thrive. Read our blog to learn how to win a small business grant! #SmallBusinessGrants #BusinessGrowth #StartUpFunding #BusinessPlanning #BusinessSuccess

Minority Business Grants: What Every Entrepreneur Needs to Know https://lnkd.in/eZCBiywm