Encouraging Homegrown Businesses
Monday, May 14, 2018
Small businesses can have a big impact. Did you know that two out of three new private-sector jobs in the United States since the Great Recession were created by small businesses?
Since 1963, the President of the United States has issued a proclamation announcing National Small Business Week. In 2018, this week falls between April 29 and May 5. It’s a time to honor the remarkable contributions of America’s entrepreneurs and small business owners.
For the first time this year, the Small Business Alliance is hosting a virtual conference as part of National Small Business Week. This is a wonderful opportunity for entrepreneurs and small business owners. The conference is free for those who register and includes educational webinars, mentoring sessions and business resources.
New and existing businesses can thrive if given the right tools and resources. GROW South Dakota has long understood that powerful business potential exists within every community. For nearly 40 years, we’ve been providing lending and technical assistance to businesses.
A GROW South Dakota loan enabled Caleb Gilkerson, Steven Rounds, Harlan Smith and Gabe Outtrim to purchase the Spirit of Cincinnati, a 120-person paddleboat, in 2016.
Their company, Riverboats LLC, is bringing old-fashioned paddleboat cruises to Pierre. The company offers full service charters, dinner cruises, group gatherings and receptions.
When Edwin Obara needed capital to expand the inventory for Bairiki International Market, his Sioux Falls business, he didn’t qualify for traditional business financing. But GROW South Dakota was able to fill this gap with its nonprofit lending services.
Encouraging entrepreneurs at the local level can have ripple effects not just on the economy, but on the community as a whole. Studies have shown that independently owned, local businesses return more money to the communities in which they operate.
In addition, entrepreneurs that choose to live in a community are a wonderful resource. They can be called upon for leadership and mentoring. Since they’re connected with the community, they’re likely to support it in other ways, such as through volunteerism and philanthropic gestures.
For more information regarding GROW South Dakota’s business financing call (605) 698-7654, visit www.growsd.org, or find us on Facebook. GROW South Dakota is an equal opportunity employer, lender, and provider.