Support for Entrepreneurs is an Investment in Washington County’s Future
Tuesday, November 08, 2022
Small businesses are the engine that drives every community’s economic health. The U.S Small Business Administration (SBA) Office of Advocacy reports that 33.2 million small businesses in the U.S. employ 61.7 million individuals, which is 46.4% of U.S. employees. In Minnesota, 1.3 million people work at nearly 535,000 small businesses.
Therefore, if the small businesses are the engine, the entrepreneurs behind those businesses must be the fuel, providing the energy for job creation and economic resiliency throughout the community.
The Washington County Community Development Agency (CDA) is proud to recognize these drivers of economic development with the resources and connections necessary to achieve success. While bringing their ideas to reality involves much risk and uncertainty, the reward goes beyond personal gain as they play a vital role in delivering a healthy and growing community.
National Entrepreneur Day is Tuesday, November 15, a perfect time to raise awareness about these enterprising individuals, the benefits they bring to Washington County and what can be done to assist them on their journey.
The COVID-19 pandemic has pushed thousands of individuals to put their entrepreneurial ideas to the test by starting a business. The U.S. has seen a surge in business starts, with applications for new ventures averaging approximately 425,000 per month in 2022, an increase of nearly 40% to pre-pandemic months, according to data from the Census Bureau.
Minnesota has been one of the most active states for entrepreneurs in 2021, with 64,638 applications, a nearly 22% increase over the previous year. Washington County had 2,784 business applications in 2021, a 12.4% increase!
Resources for Entrepreneurs in Washington County
The CDA is proud to offer quality resources to assist small businesses and prospective entrepreneurs. One amazingly powerful tool is SizeUp, a business intelligence tool to help entrepreneurs make smarter, data-driven decisions as they seek the growth needed for success. This free tool is available to any Washington County business or entrepreneur.
The Minnesota Department of Employment and Economic Development (DEED) has a collection of resources available to entrepreneurs, beginning with a free guide to Starting a Business in Minnesota. The guide includes a wealth of information and resources to help entrepreneurs get started on the path toward making their dreams become a reality. Additionally, the MN DEED website provides further details on financing assistance, training and more.
Open to Business is a free and confidential business counseling program to assist existing businesses and prospective entrepreneurs. The Metropolitan Consortium of Community Developers program assists with business planning, financial sourcing options, referrals and more.
Support Our Entrepreneurs
Starting a business is an exciting yet daunting adventure. Washington County is filled with knowledgeable individuals with fantastic ideas, just seeking the chance to get started. The CDA is grateful for the opportunity to assist these dynamic entrepreneurs as they seek to fulfill their dreams. Contact us today to learn more about how the CDA can help with whatever aspect of business development an entrepreneur might require.