The U.S Small Business Administration supports both the Small Business Development Center Program and SCORE to provide management assistance to current and prospective small business owners. These programs offer one-stop assistance to individuals and small businesses by providing a wide variety of information and guidance in central and easily accessible branch locations.
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While the federal government does not provide grants for starting or growing small businesses, it does provide a myriad of services to assist entrepreneurs in pursuit of their dreams. One of the mechanisms in place to promote small business growth and economic development are Community Development Financial Institutions (CDFIs).
The Pennsylvania Housing Finance Agency, more commonly referred to as PHFA, is an independent agency that was established in the year 1972 in an effort to contribute to the provision of reasonable and affordable housing opportunities the elderly, persons and families of modest means, and people suffering from disabilities.
The Economic Development Administration has recently established the 2012 University Center Economic Development Program Competition wherein they intend to solicit grant applications from higher education institutions stating their intent to establish and operate special University Centers that are focused on leveraging university assets in order to create regional economic ecosystems that will support high-growth entrepreneurship.
Monika Mitchell, founder of Good Business New York, asks, Do You Have What it Takes to Be a Social Entrepreneur? She lists down the five P’s essential in every entrepreneur: Passion. Purpose. Plan. Partner. Profit.