During a Committee on Small Business hearing held in DC, one of the panel witnesses stated that 50% of millennials plan to open businesses in the next three years.
Millennials grew up with the Internet.
Millennials want to start businesses to control their own path to financial freedom as well as create their own job security. This is good news to the U.S. economy as 13 million millennials are eager to drive their entrepreneurial vehicle forward according to a Center for Generational Kinetics study in partnership with SBDC. The not so good news is that a significant amount of the millennials wanting to start a small business are not sure where to go for help.
And unless you have been sequestered for years or living in a capsule, everyone knows that millennials grew up with the Internet and are digitally savvy as a result. Yet, with the wealth of information on the Internet, millennials are stopped at the gate squinting for organizations and analog natives for training on how to get started in business.
If you are faint-of-heart then starting a business is not wise. For those who have grabbed hold of the entrepreneurial spirit and are ready to forge ahead then the list below of 10 resources are for you.
10 Resources to Help Millennials to Start a Small Business
Small Business Development Centers (SBDC’s) – My small business has been a long-time client of SBDC’s. They provide various workshops such as marketing, legal and how to hire the right talent throughout the year. SBDC’s also have significant research capabilities via their libraries.
SCORE – Funded by SBA through your federal tax dollars, this organization offers counseling and insights to small businesses at all stages. When companies such as ConstantContact.com used SCORE when starting then you may want to check them out too at www.score.org
Small Business Administration (SBA) – Created over 50 years ago, this organization operates using your federal tax dollars and its entire focus is helping small businesses. There web site is packed with valuable information including for start-up companies. Visit www.sba.gov
Chambers of Commerce – Chambers were founded to help businesses in their perspective area. Some if not most Chambers provide business readiness type training and incubators to assist its business members at various levels.
Community Colleges – Considered as anchored institutions, many of the community colleges in the U.S. offer entrepreneurial training and workshops for start-ups and established firms. Houston Community College Biz Connect is one example. Check out their Business Plan Competition with Newspring.
Churches / Religious Organizations – Many churches offer business training and support for their members and the community. This was a great resource for me. During the early days of my business, I participated in several business workshops at churches in my area. I was not a member of churches and they welcomed me with open arms without any pressure to join church.
Get a Mentor – Slice your learning curve and minimize mistakes by learning from a successful business person that has walked the roads you want to venture. There are many sources to identify a mentor. Make sure your values align and when you have found a mentor, ask questions, listen, and strongly consider their suggestions.
City Business Center – Most cities either have an economic development center or it may be called a One-Stop Business Center offering information on registering company names, and other helpful tips for start-ups. Visit your city’s web site.
State Agencies – Most states in the U.S. have an agency that licenses certain businesses. If your start up requires a license then you can contact your state agency for information on cost and length of time to obtain. In my state, the Texas Department of Licensing and Regulation issues licenses to nail salons, electricians, tow truck drivers and many other business sectors. Visit your state’s web site.
In Conclusion
Starting and running a small business is challenging and risks pop up that need to be tackled. During the early days of my business and still today, I use several of the resources mentioned above to help me navigate the entrepreneurial waters and to stay ahead of our competition.
If you are one of the 13 million millennials on the edge ready to jump toward your business dream then go knock on the doors of the resources noted above, call, email, on hop on social media to reach out for help today.
Which small business resources are you considering using? I love to hear from you.
About the author: Helen Callier, President of Bradlink LLC, an SBA award winning small business, is the author of best-selling ‘Your Money is in the Follow up’, The Why, When, Where, Who, What, and How to Follow up Guide for Small Businesses. Helen is also a recognized advocate for small businesses and speaks nationally to small business audiences on practical tips on how to drive your small business vehicle to success.
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