Small Business/Entrepreneurship Notes & News

April 2024

Small business growth and entrepreneurism are vital elements of a thriving local economy. This publication is designed to provide information and support for all Alamance County, NC entrepreneurs and small business owners.

(Note: business owners do not have to be Chamber investors in order to participate in this program.)

Questions? Comments? Feedback?

Want to be added to/dropped from this mailing list?

Please contact:

Stephanie Williams

Director of Small Business & Entrepreneurial Development

National Small Business Week kicks off at the end of April. For more than 60 years, the U.S. Small Business Administration (SBA) has celebrated National Small Business Week, which acknowledges the critical contributions of America’s entrepreneurs and small business owners. This year, National Small Business Week takes place April 28 - May 4, 2024, and is when SBA officially recognizes their hard work, ingenuity, and dedication, including their contributions to the economy. As part of the National Small Business Week (NSBW), the U.S. Small Business Administration and SCORE will cohost the NSBW Virtual Summit that includes a variety of educational webinars, exhibit booths, free business resources, multiple peer-to-peer networking rooms and expert business advice from SCORE mentors. 

The 2-day event is free to attend, but registration is required to access all the value the virtual event has to offer:

• Action-driven content that can be applied to your business immediately.
• Expert business advice to help you navigate your business journey.
• Downloadable business resources to collect for future use.
• Networking opportunities to connect with business owners from across the country.

Have you filed yet?

2) Beneficial Ownership Information (BOI): If your business is a corporation, a limited liability company (LLC), or was otherwise created in the United States by filing a document with a secretary of state or any similar office under the law of a state or Indian tribe; or a foreign company and was registered to do business in any U.S. state, or Indian tribe by such a filing, then you are most likely required to comply. This is a one-time filing that discloses who ultimately owns/controls companies. This requirement is part of the Corporate Transparency Act and became effective on January 1, 2024. To learn more, including what size business is required to report and when, click here.

Grant & Loan Opportunities

Small Business Grants Are Back!

The Chamber is proud to announce that it will again offer its Small Business Grant program in 2024. This program features two grants for businesses in Alamance County: a "Launch" grant for start-up businesses, (less than two years old); and a "Growth" grant for businesses 2 or more years old. The grant applications will be available starting April 29, 2024. Register to attend our free webinar offering tips for submitting a successful application: Wednesday, April 10th from 12 Noon - 1:00 pm. Advance registration is required.

NOTE: For those businesses applying for the Launch Grant:

Special consideration will be given to those businesses who engage in learning opportunities, mentoring programs and/or workshops provided by Alamance Community College's Small Business Center and SCORE. Contact them today to find out how you can increase your chances of submitting a winning grant application.

To work with the Small Business Center, call: 336-506-4311

To request a SCORE mentor, complete and submit this form.

To qualify for the Launch Grant, a business must:

a) Be a legal entity, registered with the NC Secretary of State, and be located in Alamance County

b) Have established a business bank account

c) Be 0-2 years old

d) Not have any past due taxes, fees, or fines

e) Be current with any existing loan payments

Small business owners can also apply for small business grants from organizations across the country. Eligibility, criteria and deadlines vary. The following information is drawn from various sources and cannot be guaranteed. Read application and related information carefully.

Check out what's available through Hello Alice.

For federal grant opportunities, read more here.

LegalZoom expands $3 million small-business grant program with NBA, WNBA

LegalZoom’s Fast Break for Small Business grant program, in partnership with the NBA and WNBA, will be awarding $1.5 million in grants to 150 small business owners and $1.5 million in products and services to 3,000 entrepreneurs looking to start their own business. 

Small businesses that have been in operation for at least three months are eligible to apply for the individual $10,000 grants or up to $500 in LegalZoom products and services. Entrepreneurs are eligible to apply for up to $500 in LegalZoom products and services. 

Winners will first be announced on social media and Action Opportunity Fund will administer the grant awards. Grant applications close on September 13, 2024 at 8 p.m.

For Alamance County Businesses Only:

Opportunity Alamance Loan Program (OALP)

Need to borrow $15,000 - $50,000 for your business? How about a loan with a below market rate and interest-only payments for the first year? Complete an interest form, and a representative from Self-Help Credit Union will be in touch to review the program with you.

Upcoming Events

Total Business Breakthrough with Joe Novara

April 11 & 12

Advance your business with the tools and strategies you need to keep moving forward.

Everyone around you may be shouting UNCERTAINTY, but you can add CERTAINTY and control into your life and business.

If there’s ever been a time to take ACTION, it’s now. Yes, there may be a lot of uncertainty in the world — the economy, war, and social disruptions.

You not only want to survive but THRIVE! Don’t wait to seek out Help. Support. Accountability.

You’ve made it through the past three years. Don’t Stop Now!

Set yourself up for continued success and greater growth than ever.

Attend Total Business Breakthrough, a full-day, in-person event and walk away equipped with tools and strategies for future growth and business success.

Online Learning Opportunities

Through the NC Community College system, small business owners have free access to a myriad of classes on virtually any small business topic. Advance registration required.

In addition to being the place where you register your business, the NC Secretary of State also website offers information about getting your new business off the ground. See their "business checklist" and other documents.

Resources

SBC Director Phydesia Lewis