To support economic development in Lexington, the City is dedicated to supporting thriving female entrepreneurs to help them start and grow successful businesses. If your business dreams to become reality, keep reading this article for business opportunities, benefits, and grants for women in Lexington, Kentucky.
Minority Business Enterprise Program
The purpose of this program is to diversify the vendors the City of Lexington uses to conduct businesses and ensuring that the minority groups like women also take part. Interested in doing business with the City of Lexington? Well, you have to get certified as a woman or veteran-owned business first before you get access to the awaiting benefits. Your business certification must be from a recognized certifying agency within the city of Lexington. Learn more about certification at https://next.lexingtonky.gov/how-become-certified-minority-veteran-and-woman-owned-business. How does the program work? the City of Lexington has needed to make purchases of different items, including office supplies and building materials. Each department presents different needs to vendors, depending on the situation at hand. Usually, various departments make purchases through both formal and informal quotes or sometimes through pro cards. This can however work differently when it comes to larger projects. Here, available city vendors bid for the work once the request for a proposal has been issued, usually through newsletters or online on site. Please note that you must be registered with the city as a vendor to take part in the bids. Want to register as a vendor? Visit https://next.lexingtonky.gov/vendor-registration. Find out more about the program at https://www.lexingtonky.gov/minority-business-enterprise-program.
Business and Community Development – The Office of Business and Community Development (BCD)
The Lexington Office of Business and Community Development promote business development in the City by supporting existing and new women-owned small businesses and ensuring their success through resources and services. the office also partners with the City brokers, commercial property owners, agencies, and professional recruiters to help attract women entrepreneurs into establishing retail and restaurant enterprises. How does the City of Lexington support business development? The city does the work of reaching out to entrepreneurs by posting commercial properties for sale or leasing for them to make use of them in starting successful restaurants or retail businesses. Want to start posting a commercial building for sale or leasing? Well, visit https://www.lexingtonnc.gov/?splash=https%3a%2f%2fslate.tolemi.com%2fsignup%3fc%3dU2FsdGVkX19ILG%252FcpMBULqrtta02iz6iSCVyM6TD81qofkIqbHvxb91de3WcOYm00Kj5Wlr5uDYgLfnbBOs82A%253D%253D&____isexternal=true to create an account. For the available properties on sale, visit https://www.lexingtonnc.gov/?splash=https%3a%2f%2flexington-nc-publicity.tolemi.com%2f&____isexternal=true. Learn more about business development in the City of Lexington at https://www.lexingtonnc.gov/city-services/business-community-development.
Starting a Business in the City of Lexington
Many women entrepreneurs are dreaming to start and run successful ventures in the City of Kentucky. The problem is they don’t know where to start or where to get resources and tools to get started. You don’t have to panic over this. The City of Kentucky Office of Business and Community Development is there to guide you to successfully launch your business idea. The steps include:
- Developing a business plan. You don’t just wake and start a successful business. It all starts with coming up with a viable business plan, as this will determine the likeliness of your success in the future. Not yet ready with a business plan? Don’t worry. please visit https://www.lexingtonnc.gov/?splash=https%3a%2f%2fwww.davidsonccc.edu%2fsmall-business-center%2f&____isexternal=true to get help creating a business plan. It is free of charge. Remember, you don’t have to enroll or do anything to get help. There is an available staff that will take you through the whole process.
- Secure financing for your business. You can always reach out to the available loan programs, like those offered by the local banks and lending institutions in the City of Lexington. Looking for a better option in terms of low interest and flexibility? Have you tried the Busines Investment Fund yet? Visit https://www.lexingtonnc.gov/?splash=https%3a%2f%2fwww.ptrc.org%2fservices%2feconomic-development%2fbusiness-investment-fund&____isexternal=true and get started. The BIF will help you finance the operations of your new business.
- Identifying the Right Location for Your Business. Everything is ready at this point. But you probably aren’t sure of where to locate your business. If you need help identifying a location for your business, please reach out to the Director of Business and Community Development in the City of Lexington. You can email him at TVAbsher@LexingtonNC.gov.
- Obtaining Business Permits. Planning to put up a new construction for your new business? Please contact (336) 248-3900 to seek a Major Zoning Permit. Note that this permit must first be reviewed by the Planning Board and get approval from the City Council. The process can be overwhelming but don’t stress because the City planner will there to guide you. the city planner will let you know the requirements for building and site planning and ensure you get access to services you need to put your new building. It takes about 6 weeks to process the Major Zoning Permit.
- Inspections. Inspection is for female entrepreneurs planning to use the existing commercial buildings for their businesses. For that, you need to contact the Lexington Office of Business and Community Development to request a courtesy inspection. The office will assign you a building inspector to check the building and ensure it is the right site for the type of business you are planning to launch.
Visit https://www.lexingtonnc.gov/city-services/business-community-development/steps-for-starting-a-business for more details.
Commerce Lexington Inc.’s Minority Business Development (MBD) Program
The purpose of the MBD program is to promote the economic growth of the City of Lexington by supporting minority business owners, including female entrepreneurs. The program also ensures that women business owners and entrepreneurs are recruited at the Commercial Lexington, Inc. it also ensures they get access to resources, including referrals to other business support agencies and programs. remember, the business must be at least 51% owned and operated by a woman to qualify for this program support. Other ways the program could help female entrepreneurs succeed and actively foster economic growth in Lexington. The program helps to create partnerships between majority organizations and minority-owned businesses, provides funding support through the Access Loan Program, which offers loans to help female entrepreneurs establish and expand their enterprises. The program also works with the existing successful businesses to help attract and increase the number of women-owned businesses in the City of Lexington. To enhance women’s connection and entrepreneurship skills, the MBBD program hosts seminars and workshops from time to time. for more information about the MBD program, please visit https://locateinlexington.com/minority-business-services/.