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All states have created business and economic initiatives to grow their economies which add to the overall economic health and well being of their communities.

During the past twenty years, the Federal Government through the Small Business Administration (SBA) has created opportunities for small business owners to get assistance in developing their business. This plan has been extended the last seven years to include SOHO’s.

The way that the process works is that the SBA works with the State and Local offices of economic development in your city to establish various programs to help your business or SOHO. This is not given to anyone in the form of free grant money, which is really an illusion! By the way, don’t fall for those things that you hear on television about free grant money from the government to start your business! The money goes to the state or local agency to develop educational programs or incubators for you to get your training in areas of business and most times, you still have to pay a fee.

This is how the system works:

1. Each year, Congress appropriates the amount of money for small business development in the form of state or community block grants.

2. The money is then divided up at the state level and administered at the local level. Many municipalities merge their economic and business development efforts to maximize their resources.

3. Existing programs (such as SBA seminars on small business development) are funded. Much of the money is towards administrative costs and setting up training programs for businesses in the community.

4. Some great programs are established, such as, loan pool programs for people that don’t have sufficient credit. Those programs start by providing loans at $500.00 dollars providing that the person attends a financial course in business money management.

5. Other local programs are funded that benefit small businesses and SOHO’s. For example, counselors are made available and some cities have consultants on staff (legal, accounting, administration, contract management) that will assist you in the area that you need help in for a small fee that is very reasonable.

The best bet is to call the local SBA office or state economic development office to find the resources available for you to use and add them to your SOHO operations plan.

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