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.
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.
Did you know that it is possible for you to receive free or low cost consulting for your small business? If it sounds too good to be true, rest assured it is actually possible. Not only does it make sense economically, but you would be receiving advice from professionals who have extensive business experience.
The The Minority Business Development Agency has recently constituted the Minority Business Enterprise Centers (MBEC) Program wherein it aims to support minority-owned businesses by providing them with electronic and one-on-one business development services for a reasonably nominal fee.
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.