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.
The Value-Added Producer Grants program is geared towards helping the Independent Producers of Agricultural Commodities, Agriculture Producer Groups, Farmer and Rancher Cooperatives, and Majority-Controlled Producer-Based Business Ventures in developing techniques that would create marketing opportunities and establish business plans involving viable marketing opportunities that involve the production of bio-based products from agricultural commodities.
The Small Business Administration has constituted the Secondary Market Lending Authority program, one which aims to provide liquidity for the secondary market, thereby ultimately encouraging new lending opportunities from banks of Small Business Administration guaranteed loans.
A partner at The Fruit Tree for Business LLP and co-founder of ESSENCE, Lorna Turner, discusses why Social Enterprise Day is a good time to celebrate Exeter’s thriving social enterprise scene.