In Focus: Some resources like schemes, initiatives & grants in Louisiana
#WomenInBusiness #LouisianaEntrepreneurs #FemaleFounders #WomenEmpowerment #SouthernSuccess #Entrepreneurship
Women entrepreneurship in Louisiana or the Bayou State has been gaining momentum, fueled by a supportive ecosystem and a wealth of resources designed to foster female-led businesses. Known for its rich culture, diverse industries, and deep-rooted sense of community, Louisiana offers a unique environment for women entrepreneurs to thrive.
With organizations like the Louisiana Women’s Business Alliance and the Women’s Business Roundtable leading the way, women across the state are receiving mentorship, networking opportunities, and access to financing to help launch and scale their ventures.
Empowering Women Entrepreneurs: Louisiana’s Growing Business Ecosystem
The state’s business-friendly environment, including tax incentives and credits, further encourages women to pursue their entrepreneurial dreams. Louisiana’s commitment to bolstering women in business is evident in initiatives like Louisiana Economic Development’s Women’s Business Alliance and the Baton Rouge Area Chamber’s Women’s Network. These programs are helping women entrepreneurs turn their ideas into reality and make significant economic contributions.
Today, women-owned businesses in Louisiana generate over $22 billion in annual revenues and employ more than 240,000 people. With ongoing support and strategic resources, the future looks bright for women entrepreneurs in the Bayou State.
Here are some initiatives, schemes & grants that are open to women entrepreneurs in Louisiana.
> Funding Programs
Louisiana offers a wide variety of funding programs tailored for small businesses. These programs aim to provide financial support through loans, grants, & investment opportunities.
One prominent program is the Small Business Innovation Research (SBIR) program. This highly competitive initiative encourages small businesses to engage in research and development with the potential for commercialization. Additional assistance is available for those needing technical support.
Another key initiative is the Louisiana Small Business Development Center (LSBDC). Hosted by Louisiana State University, this center is part of a national network that aids small businesses in growth and development. LSBDC offers various services, including funding assistance, strategic planning, and market research.
The Louisiana Innovation Retention Grant program supports research-focused startups. This program provides supplementary state funding to businesses that have received federal SBIR and Small Business Technology Transfer (STTR) grants, ensuring these companies remain rooted in Louisiana.
Equity programs are also a vital component of Louisiana’s support framework – for small businesses. Through the Louisiana SSBCI Programs, start-ups and early-stage businesses gain access to capital investment. Up to $91.5 million from Louisiana’s $113 million SSBCI allocation is dedicated to venture and seed capital.
The Small Business Loan Guaranty Program, Louisiana supports businesses struggling to secure traditional financing. This program provides – a guaranty up to 80% of the loan amount, with a cap of $1.5 million. It requires a 15% minimum equity contribution from the business owners. This arrangement helps businesses mitigate risks and appeal to lenders by reducing the perceived financial risk.
https://resolvepay.com/blog/post/small-business-funding-programs-louisiana
> Louisiana Economic Development
Micro lending is another crucial option for small businesses in Louisiana. Programs are tailored to meet the needs of businesses requiring smaller amounts of capital, typically under $50,000. They often feature more flexible lending criteria than traditional loans. For example, the Louisiana Economic Development offers micro lending through various local financial institutions, fostering growth for startups and small enterprises that need initial funding to get off the ground.
https://resolvepay.com/blog/post/small-business-funding-programs-louisiana
> The State Small Business Credit Initiative (SSBCI)
Collateral support schemes assist businesses lacking sufficient collateral to secure a loan. These schemes provide pledged cash collateral accounts to enhance the loan application’s strength.
The State Small Business Credit Initiative (SSBCI) is a key program – supporting these efforts, which helps businesses that are creditworthy but need additional collateral to qualify for loans, ensuring they can access the capital necessary for expansion and job creation.
https://resolvepay.com/blog/post/small-business-funding-programs-louisiana
> Louisiana Innovation Retention Grant program
Louisiana also offers – access to seed capital and venture capital funds, crucial for high- growth startup businesses.
The Louisiana Innovation Retention Grant program supports research-focused startups with funding, complementing federal Small Business Innovation Research and Small Business Technology Transfer grants. This program helps retain innovative businesses within the state, providing necessary capital to continue their development and commercialization processes.
https://resolvepay.com/blog/post/small-business-funding-programs-louisiana
> 82 Louisiana Grants for Women
82 Women Grants for Louisiana – these are Grants for women entrepreneurs, seed money to individual women, college grants for women, small business grants for women, enterprise grants and grants for minority women.
https://louisiana.grantwatch.com/cat/39/women-grants.html
Louisiana Government Agencies
> State of Louisiana Business
The business division of the State of Louisiana provides all the resources you need to start and grow your business. Programs and resources include:
GeauxBiz: The Secretary of State’s one-stop site for launching new businesses in Louisiana, providing current and potential business owners with all the necessary information to operate across the state.
FastStart: Louisiana Economic Development’s FastStart is a state workforce training program providing customized employee recruitment, screening, training development, and training delivery for eligible, new or expanding companies—all at no cost.
FastLane: FastLane Next Generation is the web-based system that manages Louisiana’s business incentive programs that are approved by the Board of Commerce and Industry. FastLane is a secure online interface that allows applicants to electronically send data directly to Louisiana Economic Development. It is designed for individual applicants managing one company or consultants who manage multiple companies’ data.
> Louisiana Economic Development – LED
Louisiana Economic Development is responsible for strengthening the state’s business environment and creating a more vibrant Louisiana economy. They offer:
Basics for Starting a Business – For prospective business owners, knowing where to start is important. Links to vital resources at the federal and state levels are provided within each section –
Business Structure and Registration
Tax and Insurance Requirements
License and Permit Requirements
Statewide Business Counseling and Planning
So the resources include – one-on-one business consulting to entrepreneurs, affordable workshops and training seminars designed to help you broaden your business knowledge and education and mentorship for pre-venture and early stage businesses in achieving their goals for business startup and growth.
Louisiana Small Business Administration – SBA
The Louisiana SBA is supported by a district office in New Orleans. It provides services including – funding programs, counseling, federal contracting, certifications, and disaster recovery. They can also connect you to partner organizations, lenders, and other community groups that help small businesses succeed.
This location serves all 64 parishes across Louisiana.
Examples of educational programs and events include SAM Registration and Military Spouses Pathway to Business.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-louisiana
Louisiana Agencies & Non-profit Organizations
> 504ward
The goal of this nonprofit collaborative initiative is to connect you to key people, events and opportunities and ensure that New Orleans is a place for you to thrive and grow. Entrepreneurship support organizations include:
Fund 17
Fund 17 partners with micro-entrepreneurs or self-employed individuals who are running informal, home-based, or small-scale enterprises; they offer business development relationships to provide the knowledge and support necessary to expand your business and livelihood, and Financial Empowerment seminars on basic personal finance as well as customized workshops based on the requests of community partners.
Lift Fund
Lift Fund is a nonprofit organization that helps small business owners with limited access to capital have a chance to live their dreams. Lift Fund offers services in New Orleans and throughout Louisiana.
trepwise
trepwise is an impact consulting firm whose mission is to use entrepreneurial thinking and approaches to grow and sustain for-profit and nonprofit organizations by providing innovative and practical solutions.
And, there are many more.
> Go.Be. – Go Beyond Survival to Success
Formerly known as Good Work Network, Go.Be. helps entrepreneurial minority small business owners gain access to the resources they need to succeed and prosper – with a longer-lens focus on building a more diverse, inclusive and equitable economy.
Go.Be. is focused on enhancing the community through skills development, contracts, and capital, and networks to scale as you go beyond survival to success. Programs include:
Level Up!: Get the business knowledge, management know-how, and networks you need to grow your small business. Accelerate your business to increase your revenue, create jobs, and positively impact your community.
Mastering Money: Gain mastery of your business finances. Decipher financial statements and demystify business credit in this 4-part series.
> Baton Rouge Area Chamber -BRAC – Small Business and Entrepreneurship
The Baton Rouge Area Chamber maintains partnerships with the region’s entrepreneurial resources to ensure that every aspiring business owner has the tools necessary for success.
BRAC has dedicated staff to help you get connected to the information and networks you need, including:
Creating a business plan
Small business coaching
Obtaining DBE status or other certifications
Becoming a vendor for other local businesses
Contracting with municipal, state, or federal government entities
Management consulting
Access to capital
Market research
Workforce development
Understanding federal, state and local incentives
> Louisiana Small Business Development Center – SBDC
The Louisiana Small Business Development Center network (SBDC) provides tools, training and resources to help small businesses grow and succeed.
The Louisiana SBDC has 18 offices ranging from Alexandria to Thibodaux to serve the needs of Louisiana’s business community. The network helps construct a statewide ecosystem to foster the spirit, support, and success of entrepreneurs and innovators. In addition to the primary state office in Baton Rouge, there are 9 additional office locations across Louisiana in – Alexandria, Baton Rouge, Hammond, Lafayette, Lake Charles, Monroe, New Orleans, Shreveport, and Thibodaux.
> Nexus Louisiana
Nexus Louisiana’s mission is – to accelerate the growth of high-potential technology- enabled companies by providing them with coaching, capital, and connections. Programs leverage regional collaboration to foster mentorship, investment & opportunity for local entrepreneurs to grow their ideas and transform the technology industry in Louisiana.
The organization’s goal is to support Louisiana’s talented entrepreneurs as they shape the future of business.
> National Association of Women Business Owners – NAWBO-NOLA
NAWBO-NOLA is the local New Orleans chapter of the National Association of Women Business Owners (NAWBO). NAWBO propels women entrepreneurs into economic, social, and political spheres of power worldwide. NAWBO-NOLA is proud to be the premier organization supporting and representing the interests of women business owners in the Greater New Orleans region.
If you engage actively with the New Orleans chapter, there are monthly meetings that provide networking opportunities with other women business owners while learning about a topic of relevance to your business. Monthly Friday Briefs series of conference calls and webinars are timely, “Just the Facts Ma’am” information for the business woman on the go. Plus, a series of social mixers/networking events and social media provide ample opportunities to stay “In the Know.”
> NAWBO National Association of Women Business Owners’ Louisiana website
Urban League of Louisiana – Center for Entrepreneurship and Innovation – Women’s Business Resource Center
The Women’s Business Resource Center (WBRC) was established in 2001 to support minority and women-owned businesses as a pathway to secure economic parity for African Americans and other underserved populations.
The WBRC provides small-business development services including business education workshops and interactive trainings, hands-on technical assistance, and access to resources relevant to aspiring and existing entrepreneurs throughout southeastern Louisiana.
Services include: comprehensive business planning and support, loan packaging, business certifications, and assistance with operational streamlining, business financials, and accounting.
> East Baton Rouge Parish Public Library – Small Business Services
The library has a variety of free tools that can turn your idea into something solid. For established businesses, they can also help you find new customers. Get in touch and arrange a consultation with a business librarian to see what the library can do for you.
This service is free.
Staff can come out and meet with you and customize what the library offers to match your unique needs.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-louisiana
Funding – State and Federal Sources
> U.S. Small Business Administration – SBA
The U.S. Small Business Administration helps small businesses get the funding they need. Funding resources include:
Loans – Start or expand your business with loans guaranteed by the SBA.
Investment capital – Find an investor for your business. Investors make both debt and equity investments.
Disaster assistance – Get help after a disaster with low-interest disaster loans.
Surety bonds – Protect your work and your client with an SBA-guaranteed surety bond.
Grants – Look for government grants that help businesses do scientific research and development.
> Innovation Catalyst – The Catalyst Fund
Innovation Catalyst is a non-profit venture development organization formed by community leaders to strengthen and broaden Louisiana’s entrepreneurial ecosystem and drive new high-tech company formation through education, connections, and capital. The company is committed to creating a small-business owners culture by investing in local entrepreneurs and catalyze a change for business ownership in Baton Rouge and the surrounding areas.
They collaborate with existing resources throughout the state to identify, engage, educate, and connect Louisiana entrepreneurs to the right resources to accelerate their business.
Innovation Catalyst is laying a solid foundation for Louisiana’s future economy through The Catalyst Fund, NexusLA, Entrepreneurial Education, and Women and Minority Support.
> Lift Fund
LiftFund is a non-profit Community Development Financial Institution (CDFI) and Community Development Corporation (CDC) that supports small business owners with limited access to capital through small business loans and technical support for their dreams of entrepreneurship.
LiftFund provides small business loans for women, minorities, and startups in New Orleans, Baton Rouge, Shreveport, Lafayette, and throughout Louisiana. These loans include:
Small business loans in Louisiana up to $250,000
Startup loans
SBA 7a Community Advantage loans
Business and financial training
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-louisiana
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