Colorado’s network of Small Business Development Centers could receive an additional $300,000 if the House Appropriations Committee passes a bill that was recently passed in a 10-3 vote with bipartisan support by the Economic Business Development Committee.
The state’s Small Business Development Centers served over 5,500 businesses responsible for creating 1,700 new jobs and assisted in forming another $132 million in small-business venture capital in 2011 alone. This was accomplished with only a staff of four and funds appropriated by the general-fund of less than $85,000, the report stated.
Finding the right venture capital for a great business idea can be difficult and in today’s challenging economic climate and new business owners need all the help they can get. There are a number of sources for finding the seed capital needed to start or grow you business. From angel investors to SBA loans, however finding these sources can be a challenge.
Other sources have cited that the additional funds for Colorado’s Small Business Development Centers will increase staff and consultation services and help leverage local and federal matching fund sources with the goal of turning great entrepreneurial business ideas into prosperous businesses that create jobs.
Even if your business idea is deemed high-risk and does not qualify for financing through the state of Colorado you might consider the services of a venture capital attorney to help you draft a solid business plan that ensures compliance with the concerns of many venture capital investors. A great business plan can help you attract the seed capital needed to start or grow your business.
The bill was supported by the Denver metro Chamber of Commerce, Colorado’s Economic Development Commission and the national Federation of Independent Businesses.
Source: Northern Colorado Business Report, “Small-business development bill passes House,” Feb. 22, 2012