The City of Minneapolis works to support the growth of its economy by assisting women-owned small businesses. We both know the value of small businesses in a thriving economy, like that of Minneapolis City. The City comprises programs and organizations that help women entrepreneurs achieve success in their operations. Keep reading this article for more details about the business opportunities, benefits, and grants for women in Minneapolis, Minnesota.
Small Business Team Assistance
Minneapolis consists of a team committed to helping women-owned small businesses thrive in the city. The Small Business Team is there to help women entrepreneurs have a successful start in their business ideas and to support the growth and sustainability of their enterprises in the City of Minneapolis. The team will help you navigate the process of business registration, obtaining permits, and licenses you need to successfully operate within the city. They will also respond to all of your queries and connect your other business resources in the community. Find out more at https://www2.minneapolismn.gov/business-services/business-assistance/community-development-business-assistance/small-business-team-assistance/.
Business Development Fund
The Business Development Fund provides funding support to women-owned businesses that have the potential of generating employment opportunities for the jobless in the City of Minneapolis. By participating in the Business Development Program, you increase your chances of winning up to a $75,000 loan plus prepayment credits. Are you planning to expand your business on city industrial sites? Then, you should apply for the BDF loans. BDF funding is designed to provide financing support and you must at least combine it with other sources for your activities to run successfully. Who qualifies for the program support? Only businesses located or planning to relocate in the City of Minneapolis will qualify for BDF loans. Also, note that the program only pays attention to women-owned businesses that will provide full-time jobs to the jobless and they must earn at least $14.72 per hour along with employment benefits. How can you use the program funds? Well, you can always put the funds into different activities. For instance, you can new production equipment, add assets to the company, inventory, or use the money to facilitate the expansion of your building. Visit https://www2.minneapolismn.gov/media/content-assets/documents/business/wcms1p-114316.pdf to apply. For more details, please go to https://www2.minneapolismn.gov/business-services/business-assistance/community-development-business-assistance/business-development-fund/.
Neighborhood Development Center, Inc. (NDC)
NDC is a nonprofit organization that supports upcoming female entrepreneurs to build successful businesses in the City of Minneapolis. The goal of this nonprofit is to help strengthen the neighborhood economies with a focus on those with low-income. the Center provides support through training and education, business financing, and networking opportunities that link women entrepreneurs with business resources and experts to help their enterprises thrive. Find out more at http://www.ndc-mn.org/.
Metropolitan Economic Development Association (MEDA)
The purpose of MEDA is to empower women entrepreneurs by providing the best opportunities that enable them to penetrate easily in the highly competitive market. Assistance can be in form of access to capital, marketing support, networking opportunities, and business consulting. MEDA services can help you start and run a successful business venture and impact people’s lives through the creation of jobs and providing products and services that benefit the community. For more details about MEDA, please visit http://meda.net/.
National Association of Woman Business Owners, Minnesota Chapter
The Minnesota Chapter is one of the 90 NAWBO chapters in the United States and it is dedicated to supporting women entrepreneurs. How does the Minnesota Chapter help the thriving women business owners? Well, the Chapter provides networking opportunities that enable women to connect with other successful women in various industries. The chapter helps to provide education services to government officials on business issues related to women. That has the potential of influencing policy change to help create a more favorable environment that enables the cultivation of women entrepreneurship in Minnesota. The chapter also provides leadership training to women entrepreneurs. To strengthen their skills. For more details, http://nawbo-mn.org/.
Women Venture
The purpose of Women Venture is to provide support to women entrepreneurs through technical assistance to enable them to expand their businesses, have access to employment opportunities, and facilitate their professional growth. Women Venture offers its services without discrimination based on nationality, race, status, or color. The organization helps women entrepreneurs develop career planning and have access to funding through loans. The organization also provides training on finance and budgeting to help women make informed decisions concerning their businesses. Read more at http://www.womenventure.org/.
The USA. GOV Small Business Hub
The USA GOV Small Business Hub is a resource center for women-owned small businesses and is dedicated to connecting female entrepreneurs with the tools they need to thrive in their operations. The Hub assists women business owners to find grants and loans available through government programs, enable them to have access to tax information. The Hub also assists enterprises in choosing a suitable business name, depending on the nature of your company, and the types of goods and services you offer to your potential customers. the Hub will help you navigate the process of getting started and obtaining government contracting and hire more workers to support your business activities and drive you towards achieving your business goals. visit https://www.usa.gov/business to learn more about the Small Busines Hub.
Commercial Service Minnesota
The Commercial Service Minnesota is dedicated to providing business support to women entrepreneurs by connecting their companies with international trade experts in more than 75 countries in the world. Are you in need of expert support to help you navigate through the international market? Well, you can always meet the international trade experts if you take advantage of the Commercial Service global network. Get information concerning exports and increase sales volume in the international market. Please visit http://export.gov/minnesota/ for more information.
The Alternative Financing Program
The Alternative Financing program provides small business support to women entrepreneurs through funding. The program provides financing that can help businesses purchase new production equipment, add new stock, or expand the business building to accommodate more products and services. how does this program work though? Well, as a businesswoman in need of assistance, you will borrow a loan from a private lender, which will cover half of your total expenses. The program then covers the rest of the expenses, which must not exceed $50,000. For more details, please visit https://www2.minneapolismn.gov/business-services/business-assistance/community-development-business-assistance/alternative-financing-program/.