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In this article:\n9 local events that Houston small businesses should take advantage of this year\nAttending events, business conferences, and expos is a great way to take your business to the next level. You can gain new skills for you and your employees, and grow your network. Community-based events can help increase your local brand awareness, gain new customers, and even sell products and services. \nNot sure where to start? These Houston, TX area events are the perfect opportunities to add to your business calendar. \nPLEASE NOTE: We have made every attempt to be accurate in our information but as you things may change due to unforeseen circumstances. Please consult the websites for the individual events and confirm the status of the events you wish to attend.\nHouston Crawfish Festival in the Heights\nWhen: March 5, 2022\nThe Greater Heights Area Chamber of Commerce Crawfish Festival is Saturday, March 5th. Come out and support your community and shop local. Vendor booths, Kids World, live music by Lucid Illusions, Idol of the Heights contest, cold beer and the best Crawfish in the Heights! To become a vendor please email Donna at crawfishvendor@gmail.com. To become a sponsor please email Liz at elizabeth.perez@caliberhomeloans.com. Tickets and more info \nhere\n. \nFOCUS Business Conference\nWhen: March 12, 2022\nAt this conference, business owners, entrepreneurs, and investors gather together to discuss the best ways to increase revenue and grow your company. The events of this conference are focused for the modern entrepreneur. \nThroughout the day you’ll hear insightful TED Talks, participate in workshops, attend panels, and enjoy the fun of cocktails, food, and booths in between sessions. \nSign up now at \nfocusbusinessconference.com\n.\nEnergy Marketing Conference Houston\nWhen: March 28-29, 2022\nEnergy Marketing Conferences EMC brings together over 600+ industry professionals from energy companies, utilities, marketers, vendors and suppliers in the retail energy industry to network and learn. EMC is the largest gathering of retail energy executives in North America. Info \nhere\n.\nDigiMarCon South\nWhen: May 26-27, 2022\nDigiMarCon is one of the largest digital marketing conferences that you won’t want to miss. From improving lead generation and sales to increasing customer loyalty, the agenda at DigiMarCon will help you enhance your marketing efforts. \nSome featured topics at the conference:\nWeb experience management\nUsability and design\nVideo marketing\nSocial media marketing\nEmail marketing\nGeo-targeting\nConversion rate optimization\nGrowth hacking\nSEO \nPaid search marketing\nAnd more!\nBuy tickets for this conference at \ndigimarconsouth.com\n.\nFreedom Over Texas\nWhen: July 4, 2021\nFreedom Over Texas is Houston’s annual Independence Day celebration. Music and fireworks take place at Buffalo Bayou with famous country artists as the headliners for the shows. \nYour business can take part in the festivities by sponsoring the events, setting up a vendor booth, or taking your team to enjoy the fun! Throughout the week leading up to the festival, create 4th of July themed discounts and offerings that will get your customers excited. \nContact the City of Houston to learn more about becoming a sponsor or vendor. Or check here for updates: \nhttps://www.houstontx.gov/july4/\n. \nhouston fireworks freedom events \n\nHouston Home and Garden Show\nWhen: September 16-18, 2022\nThe all-new Houston Home and Garden Show is a great opportunity for businesses to connect with homeowners. Share your services and products that consumers can use to help their home. \nPast exhibitors have found this show to be one of the best advertising opportunities they engage in. The best part is you get to benefit from all of the marketing efforts of this large event. All you need to do is sign your business up for the show and attend. \nWant to learn more about attending or becoming an exhibitor? Visit \nhttps://www.houstonfallhomeandgardenshow.com/\n\nOktoberfest Houston\nWhen: TBD (September or October 2022)\nDon’t miss out on Houston’s annual Oktoberfest. Get the best of German and Texan culture throughout the festivities. Dress up in your finest Lederhosen and enjoy the polka music as festival-goers try the best craft beer Houston has to offer. \nHouston Oktoberfest small business events\nYour business can get involved by becoming a vendor or sponsor at the festival or by creating Oktoberfest-themed offerings throughout the festival. \nLearn more about how to get involved and confirm the 2022 dates at \noktoberfesthouston.com\n.\nTexas Renaissance Festival\nWhen: October 8-November 28, 2022 (ending date TBD)\nThe Texas Renaissance Festival takes place over the weekends throughout October and November as the nation’s largest one of its kind. Each weekend has a fun theme to keep the events exciting and unique. The themes include:\nOktoberfest\n1001 Dreams\nRoman Bacchanal\nPirate Adventure\nAll Hallows Eve\nHeroes and Villains\nBarbarian Invasion\nHighland Fling\nCeltic Christmas\nThere is tons of fun to be had as festival-goers explore the cobblestone paths of the recreated 16th-century village. \nYour business can become a vendor for the festival or take part in the fun by coordinating your offers with the different themes each week. \nLearn more at \ntexrenfest.com\n.\n\nSmall Business Expo\nWhen: November 15, 2022\nThe Small Business Expo is Houston’s largest networking and education event for business professionals. Learn how to increase your company’s revenue and grow your business with the various workshops, presentations, and breakout sessions. \nYou can get inspired by other local entrepreneurs and small business owners, connect with mentors in the business world, and even spread awareness for your own business by becoming an exhibitor at the event. \nAttend the event for free by registering at \nthesmallbusinessexpo.com\n.\nEnhance your marketing strategy with review management\nAs you get involved in various events throughout the year, be sure to include a strategy that helps you maximize the benefits of your new customers. New customers bring new opportunities to leave your business online reviews, which in turn helps bring even more customers—and the cycle continues. 


9 events that every Houston, TX area small business should know about in 2022

If your restaurant is doing well, it is easy to overlook the need for a small business marketing plan and a dedicated marketing budget. Traditional thinking leads a lot of local restaurant owners to believe that serving good food is all it takes to succeed.\nThat may have worked in years past, but in today’s volatile marketplace, restaurants need to do more than provide a quality product and write something clever on the sandwich board out front.\nWhen today’s customers talk about where they should eat, overwhelmingly that conversation takes place online. 97% of people read online reviews for local businesses, and most consumers trust online reviews as much as personal recommendations from friends and family. \nWhat’s more, the power of online word of mouth can work against you. One bad review can cost you 30 new customers, and a one-star drop in your online rating may result in a nearly 20% drop in revenue. Ouch.\nThe good news is, the right marketing strategy can help your restaurant bring in more customers, save you time, increase loyalty, and help you weather the storms that come with changing consumer trends, internet whims, or other unpredictable factors that influence your restaurant’s bottom line. \nTo maximize the effectiveness of your restaurant’s marketing budget, we recommend you follow the following steps in order, and don’t skip steps:\nTake control of your “online presence”\nEngage your existing customers online and get involved locally to build loyalty\nSpend appropriately for targeted advertising in relevant media\nSave time and do more with small business marketing software\nLet’s go over these four steps in a little more detail.\nFirst: Take control of your restaurant’s online presence\nYour online footprint matters… almost more than your food.\nData shows a half-star boost in your Yelp rating makes it 30 to 49 percent more likely that you will fill every seat during your busiest hours. It’s vital that you show up in local search results, and show up well.\nAs the first step in your marketing plan, you need to make sure you’ve taken control of your online presence because 1) it’s the way most customers will find your restaurant, and 2) it boosts the effectiveness of all your other marketing efforts.\nHere are the most important elements of getting control of your online presence:\nClaim your restaurant’s business listing on all the major online review sites (click the links for helpful how-to articles on how to claim your profile on \nYelp\n, \nGoogle\n, and \nTripAdvisor\n. You should also claim/monitor Facebook, Foursquare, OpenTable, Zagat (if applicable to your area), Gayot, and GrubHub—even if you don’t intend to formally interact with one or more of these sites (or if, like Gayot, they don’t allow restaurant owners’ direct involvement)\nEnsure your restaurant’s profile (including hours of operation, location, contact info, etc.) is accurate on these review sites, fill in as much information as possible, and review your pages regularly \nRead all your reviews and implement a strategy to get more reviews \nYou might also like: \n3 easy ways to get customer feedback for your restaurant\nSecond, build loyalty by engaging your existing customers and getting involved locally\nOnline reviews matter. Take them seriously\nOnce you’ve claimed your pages, it’s very important to read and respond courteously to every customer review (yes, even the negative ones… and you will get them). \nWhen you show appreciation for positive reviews and genuine concern and commitment to fix any problems reported, it shows you take your customers and quality control seriously. \nThis alone will start attracting more customers to your restaurant and building a strong online reputation. (For our tips on \nhow to respond to negative reviews\n, click the link.)\nGet involved in your community and capitalize on the “eat local” movement\nSmall, local restaurants are gaining traction, and not just with trendy food bloggers. The biggest advantages you have over cookie-cutter, industrial cuisine is you can provide the unique ambiance, positive customer experience, and personal attention to detail that big corporate restaurants can’t hope to match.\nYou can develop passionate fans who will be your strongest online advocates (and do a huge portion of your marketing for free), if they feel a personal connection with you and your food. \nSo, get involved in your community. Host local events. Participate in local pub crawls, wine walks, tastes of the city, street eats, food festivals—whatever is available in your area (63% of customers say they want invitations to more local events, but only 12% get them). \nIf there are no programs like this in your area, start one! \nVolunteer for or sponsor the local symphony, or the baseball, football, bowling, or underwater basketweaving team—whatever your customers are proud of and support. Build a creative float for the local parade. Think outside the box.\nThe main point is your restaurant should be inseparably linked with your town, and local customers should feel a personal connection with you. Small efforts in this area can have a huge impact.\nThird, spend appropriately for targeted advertising in relevant media\nNow you’re finally ready to start spending some money. But what should your marketing budget look like? \nWe recommend that local restaurants dedicate approximately 7-8% of gross revenue toward marketing, and the U.S. Small Business Administration agrees. \nYou can dump money into a local ad agency to manage your campaigns for you, but the cost/benefit ratio for these efforts is almost always unimpressive.\nFor small businesses, email marketing is hands-down the most powerful, efficient, and effective marketing tool, with an unsurpassed ROI (return on investment) of up to 44 to 1. (Read more in our detailed \nemail marketing\n article.)\n86% of your customers actually want promotional emails from businesses they like. A simple email receipt with a “thanks for your visit,” happy birthday wishes, or promotional offers delivered to their inbox can go a long way.\nConsider Instagram\nYou might look into spending some of your budget on an advertising plan with Instagram, targeting IG users in your specific area and desired demographic. \nYou can also offer specials for people who post on their IG accounts and tag your restaurant. If you can beg or borrow a food stylist/photog to shoot nice photos for you to post regularly, it can go a long way toward spreading “online word-of-mouth.”\nFourth, save time and maximize your efforts with small business marketing software\nRestaurant owners are among the world’s busiest people, so if the above seems a little overwhelming, the right software can really be a lifesaver.\nDedicated loyalty program software can help, but be careful with this one: restaurants often gravitate to the “punch card” model, but this may not be the most effective place to spend your time and money. Studies show the average U.S. household is enrolled in 29 loyalty programs but only uses 12. Focus on building the relationship first, or your loyalty efforts will go unnoticed.\nSources:\n
\nhttps://zuberance.com/zuberrants/blog/one-negative-review-can-cost-you-30-customers\n
\nhttps://www.accenture.com/us-en/insights/strategy/brand-purpose\n
\nhttps://searchengineland.com/88-consumers-trust-online-reviews-much-personal-recommendations-195803\n
\nhttps://www.brightlocal.com/research/local-consumer-review-survey/\n

Small business marketing: 4 key elements of an effective strategy for your restaurant

In this article:\n17 local resources for small businesses in New York, NY\nStarting your own business is no small task and it can take a lot out of you. But you don’t have to do it alone. You can find a plethora of small business resources in New York, NY that will help your business thrive, from guidance and training to funding and finding a commercial workspace. \nWe’ve broken this article up into five categories to help you find the resources that will be the most helpful for your New York business:\nComprehensive small business resources\nBusiness mentors and courses\nFunding\nChambers of commerce\nRecruitment and employee assistance\nComprehensive small business resources in the New York area\nThe resources in this section will provide entrepreneurs with comprehensive training, counseling, and additional guidance to get their business off the ground. \n1. New York Small Business Development Center (NYSBDC)\nThe Small Business Development Center in New York provides entrepreneurs with everything they need to start a successful business. They provide business counseling, training, and research for free. \nYou can reach the Brooklyn SBDC with the following information or \nfind the nearest SBDC to you\n. \nBrooklyn SBDC
NYC College of Technology
25 Chapel Street, 11th Floor
Brooklyn, NY 11201\nPhone: (718) 797-0187
Director: Miriam Colon
Email Address: sbdc@citytech.cuny.edu
Hours: M-F, 9 AM-5 PM by appointment only. No walk-ins.\n2. New York District Office\nThe New York District Office is New York’s liaison for the U.S. Small Business Administration. They deliver SBA programs all across the state in order to help further the economic development of New York. \nWe recommend looking through the SBA’s \nweb page\n to find the specific resources that you need for your local business. \nHowever, if you wish to contact the office directly, here is their contact information:\nNew York District Office
26 Federal Plaza Suite 3100
New York, NY\nPhone: (212) 264-4354
Fax: (212) 264-4963
District Director: Beth Goldberg
Hours: Monday through Friday from 8:30 AM to 5:00 PM\n3. Empire State Development\nEmpire State Development is a hub for small business resources. You can find everything from workshops and trainings to the best options for funding your business. \nVisit their \nwebsite\n to find comprehensive resources to help start your New York business. \nOr contact their regional office for more information:\nNew York City Region
633 Third Avenue – 36th Floor
New York, NY 10017\nPhone: (212) 803-3130
Fax: (212) 803-3131
Email: nys-nyc@esd.ny.gov\n4. Brooklyn Public Library\nThe Brooklyn Public Library has its own Business & Career Center. They hold events and courses for business owners to network and expand their expertise, and they offer one-on-one assistance with certified business mentors. \nFor questions about Brooklyn Public Library’s career services, call 718-230-2100 or reach them with their \ncontact form\n. \nimage of brooklyn public library for small business resources\n\n5. New York Business Express\nNew York Business Express is a support organization to help business owners meet their professional requirements as they get started. They have a comprehensive guide on starting a business in New York, checklists, and a guide to find incentives that your business can qualify for. \nFind more information at \nbusinessexpress.ny.gov\n or contact them:\nNew York State Business Information Center
Phone: +1 (518) 485-5000
Hours: Monday – Friday 8:30 am – 4:30 pm, with the exception of state-observed holidays\nBusiness mentors and courses in NYC\nFind the best business mentors and courses in New York, NY at the following resources. \n6. NYC SCORE\nNYC SCORE has a host of volunteer mentors and advisors from multiple industries who are ready to help entrepreneurs start their own business. On their \nwebsite\n, you can find local workshops and the best free mentors for your business.\nFull contact information:\nNYC SCORE
26 Federal Plaza, 31st Floor
New York, NY 10278\nPhone: (212) 264-4507
Fax: (212) 264-4963
Hours: Mon, Tues, Wed, Thurs: 9 a.m. to 5 p.m., Last appointment at 4:00, Friday: 10 a.m. to 2 p.m.\n7. Business Mentor NY\nBusiness Mentor NY is a directory of mentors who want to help your business succeed. Search the directory by expertise and industry to find mentors related to your business. Create an account to connect with mentors and gain valuable insights. \n\nSign up here\n. \n8. NYC Business Solutions\nNYC Business Solutions holds courses for entrepreneurs to gain the training and knowledge they need to start their own businesses. Most courses are meant to provide a fundamental understanding of business planning, marketing, and accounting. \nClasses through NYC Business Solutions can be found in the Bronx, Brooklyn, Manhattan, Queens, and Staten Island. \nFind the center nearest you on \nNYC Business Solutions’ centers web page\n. \nFunding for New York City area small businesses\nFind the best funding resources in New York, NY for your business. Get access to the best loans or try local accelerator programs. \nGo deeper: \nfunding options for your small business\n9. NYC Capital Access Loan Guaranty Program\nThis program is dedicated to helping micro and small businesses that have trouble accessing traditional business loans. Funding from this program can be used for working capital, equipment purchases, refinancing, and tenant improvements. \nContact information:\nNYC Economic Development Corporation (NYCEDC)
110 William Street, 5th Floor
New York, NY 10038
For further assistance, please call 311 and ask for: \nNYC Capital Access Loan Guaranty Program\n
Website: \nhttps://edc.nyc/\n\n10. Bridge to Success Loan Program\nThis program seeks to support Minority and Women-owned Business Enterprises (MWBEs) with short-term bridge loans to help their businesses succeed.\nFor detailed information about this program, you can call the NYS MWBE Resource Line: (855-373-4692)\nOr you can apply by \ncontacting a participating lender\n.\n11. Startup52\nStartup52 is a business accelerator designed to help its participants start successful ventures. Through their program, they help entrepreneurs create technologies to solve global needs and turn back a profit. \nLearn more at \nstartup52.com\nFull contact information:\nStartup52
New York, NY
Phone: (347) 450-1201
Email: contact@startup52.com\nChambers of commerce in NYC area\nLocal chambers of commerce can provide your business with several different areas of expertise and are a great comprehensive resource for any startup. Each of these chambers in the New York, NY region is dedicated to the economic growth of their communities and helping your business succeed. \nQuick guide: \nChamber of commerce basics: what they do and why you should join\n12. Greater New York Chamber of Commerce\n20 West 44th Street, 4th Floor
New York City, NY 10036
Phone: 212-CHAMBER (212-686-7220)
Website: \nhttps://www.chamber.nyc/\n13. New Bronx Chamber of Commerce\n1200 Waters Place, Suite106
Bronx, NY 10461
Phone: (718) 828-3900 
Fax: (718) 409-3748
Email: sashee@bronxchamber.org
Website:\nhttps://www.bronxchamber.org/\n\n14. Brooklyn Chamber of Commerce\nPhone: (718) 875-1000
Contact form: \nhttps://ibrooklyn.com/contact-us\n\nRecruitment and employees\nStart your business with the right team by utilizing these recruitment and labor resources in New York, NY. Finish the list off by making sure your worker’s comp needs are met with The Advocate for Business. \n15. New York State Job Bank\nThe New York State Job Bank is powered by the Direct Employer’s Association—an organization that seeks to lower recruitment costs for all levels of businesses. \nThis job bank allows you to find qualified candidates and even allows the option of automatically posting new job listings when they come up. \nGet started at \nnewyork.usnlx.com\n16. NYTalent \nNYTalent is a job recruitment platform backed by the NY Department of Labor. Get quick access to qualified applicants by getting started \nhere\n. \n17. The Advocate for Business\nThe Advocate for Business is the liaison between New York businesses and the Worker’s Compensation Board. Work directly with this team to help you with worker’s comp claims or to schedule an educational session to help you learn more about your obligations as a business owner. \nContact The Advocate for Business:\nPhone: 1 (877) 632-4996
Email: advocatebusiness@wcb.ny.gov

Best local business resources in New York, NY

In this article:\n5 2022 events in Orlando, FL that your business needs to know about\nWhich events may be moved online or canceled \nAttending local events can have a significant impact on your business, from increasing brand awareness in your community, to networking with other business owners and leaders, to improving sales. Business events and fun community events alike have the capacity to further your growth. \nCheck out these Orlando area events that your small business should to add to your calendar. \nPLEASE NOTE: We have made every attempt to be accurate in our information but as you can imagine during the continuing impacts of the COVID-19 pandemic, everything may still be in flux. Please consult the websites for the individual events and confirm the status of the events you wish to attend.\nAnnual Central Florida Fair\nWhen: March 3-13, 2022\nAttend the Annual Central Florida Fair with your team to help increase brand awareness in your community. Set a date in your calendar to start looking into becoming a vendor for next year’s fair. \nBoth product- and service-based businesses alike can benefit from becoming exhibitors at the fair. Sell your goods or bring awareness to your services as fair-goers cool off in the exhibition halls. \nLearn more about becoming a vendor at \ncentralfloridafair.com\n.\nFlorida fairgoers for small business events\nSmall Business Expo\nWhen: March 16, 2022\nThe Small Business Expo is one of the nation’s largest business conferences. This conference is held in several major cities across the U.S. for business owners and entrepreneurs to connect with one another and learn from the keynote speakers. \nIndustry experts will guide you and your team through workshops, you’ll have the opportunity to see what other local businesses can offer, and you can market your own business. \nThis event is free to attend or you can pay to sign up as an exhibitor at the conference. Learn more at \nthesmallbusinessexpo.com\n.\nBlack Business Summit and Expo\nApril 2, 2022\nThe Black Business Summit & Expo is the greatest annual gathering of black business owners, black professionals, and supporters of black business in the Orlando area.
Each local black business owners come together to network, educate, advocate, and advance through culture and creativity. Join hundreds of others for a weekend that will upgrade your business in key areas! More info and tickets at \ntheblackbizsummit.com\n.\nSpooktacular\nWhen: Halloween weekend, 2022\nAttend Spooktacular the weekend of Halloween. People come from all over Orlando to attend this spooky night of fun at Downtown Avalon Park. \nAttractions include live performances, food trucks, bounce houses, vendors, and more. People of all ages can enjoy the event. \nBecome a vendor or sponsor of the event to increase your company’s awareness in the community or simply take the night off and attend it with your team to boost morale and foster team bonding.  \nContact info@avalonparkgroup.com or visit the \nSpooktacular’s Facebook page\n or \navalonparkorlando.com\n to learn more about how your business can get involved. \nElectronic Daisy Carnival (EDC)\nWhen: November 11-13, 2022\nEDC at Tinker Field is an annual music festival that brings thousands of people from all over. This 3-day event incorporates music, travel, acrobatics, pyrotechnics, and more to create an experience you’ll never forget. \nBecome a sponsor or vendor at the event to get more awareness for your brand. Can’t attend? Then take advantage of the thousands of people new customers that will be flooding central Florida for three days. Offer deals for carnival attendees or themed discounts surrounding the event to draw people in. \nLearn more about the carnival at \nelectricdaisycarnival.com\n.

5 Orlando area events in 2022 your small business should take advantage of

In this article:\nBootstrapping\nPersonal loans\nSmall business loans\nMake a trade\nCrowdfunding\nFind investors\nSmall business grants\nStartup incubator or accelerator\nWhen starting a new business, finding the capital to back you can often be the hardest part. But funding your new startup doesn’t have to be difficult. You just need to know what options are available to you and where to start first.\nDepending on how large you expect your business to be from the start, you may be able to begin small and scale up later as needed. \nThis may even allow you to start the business from your own savings and then reach out to other sources like investors or your personal network down the road. \nMany avenues exist for funding your new business, so if you aren’t able to do it on your own, don’t fret. We’ll guide you through some of the best options out there. \nBootstrapping a startup business\nBootstrapping is starting with the bare minimum that you can get by on. You don’t even need to save up a huge amount of capital to get going. You simply start with the resources you already have at your disposal. \nUntil you grow your business sufficiently, everything you earn goes back into the business to help you increase your resources and capability to provide results/products for customers. \nA great example of this is starting a web design company. Let’s say you have built your own website before and you already have the software, tools, and know-how to do this. \nYou can choose to start small by offering your services at a low cost to people in your personal network and grow your business from there. \nThe same can go for any type of business that you already have the minimum effective resources for. \n\nUse your own savings to fund your business\nMaybe you have a grander plan for your business that requires a little more capital to start up than bootstrapping would allow but you don’t want to go in debt to start your business. \nYou can make a plan to put aside any extra earnings from your current day job into a savings account, and save enough for your startup costs before you launch.\nAnother option here could be to pick up a second or third job to help save the money you need to go after your dream of entrepreneurship. \nHere are some tips you can use to help you save the money you need to start your business:\nMake a list of your needs and wants. Determine which wants you are willing to part with and put your money that would have gone to those into savings. \nAvoid personal debt (i.e. car loans, credit cards, personal loans). \nCreate a realistic budget and follow it. \nLearn to sacrifice unnecessary luxuries or “wants” and derive satisfaction from living debt-free and saving for your dream business.\nAutomatically deduct a certain amount into a dedicated savings account each paycheck so you don’t have it available to spend from your checking account. \nPersonal loans from family, friends, or network\nReview your personal network and determine if there’s anyone you would be willing to borrow money from to help fund your new business. \nYes, we said “anyone \nyou would be willing to borrow money from\n.” This is actually as important as the consideration of which friends or family members actually have the money and would be willing to invest in your business.\nIt’s important to think long and hard about borrowing from friends and family. Be wary of those who may want to have a say in business decisions due to their “share” and make sure you have a solid plan of action for paying them back as quickly as possible. \n\nFinances can cause a strain on \nany\n relationship, so don’t enter into any agreement that is going to hurt your relationships. \nSmall business loans\nSmall business loans are a common resource for starting up new businesses, but not every bank or lender is going to be willing to assist you. \nWhen you apply for a small business loan, you will need to have a detailed business plan that outlines how you will make good on your debt. \nYou may also need to offer personal assets as collateral for the loan you are taking out. Keep these things in mind if you pursue this option. \nCheck out our \nguide to small business loans\n to learn how to apply, what types of loans are best, and tips for making it happen. \nMake a trade\nYou can trade equity or services to help mitigate some of the costs of your new business. You might not be able to completely get by on trades, but it can be helpful to lower initial startup costs. \nFor example, let’s say you are starting a new gym, but you’re going to need marketing services to get the word out. Marketing is expensive, so you find an advertising agency that is willing to trade their services for gym memberships. \nBe creative. Don’t give up if your first choice turns you down. If you’re interested in this option, ask around at several places before trying another method. \nCrowdfunding your startup business\nCrowdfunding is a way to raise money, generally online, from people or companies that are interested in your project. \nMost of us are familiar with the GoFundMe campaigns that get shared on social media to help raise money for charity. That’s just one crowdfunding platform. \nCrowdfunding for businesses is a little different in that you can’t always go the route of asking for donations. \nDifferent types of crowdfunding\nInvestment-based crowdfunding: Someone invests in your business and receives a stake in your shares. \nLoan-based crowdfunding: This is also referred to as peer-to-peer or peer-to-business (P2P or P2B) lending. Individuals will lend you money in return for a set interest rate. \nReward-based crowdfunding: Individuals will give to your business in exchange for some kind of reward like free samples, passes, or discounts for your services. \nDonation-based crowdfunding: You receive no-obligation donations from those interested in helping you out. This form of crowdfunding is generally used for charity but can be used for startups as well (depending on the platform you use). \nCheck out these crowdfunding sites to get started:\nKickstarter\nCrowd Supply\nCrowdfunder\nFundable\nWeFunder\npiggy bank with people inserting coins for startup crowdfunding\nFind investors for your startup\nCrowdfunding and small business loans aren’t the only ways to get investors for your business. You can also seek out venture capitalists or angel investors to help you get started. \nVenture capitalists\nVenture capitalists (VCs) are generally looking for businesses with large growth potential. VC firms generally raise money from a variety of sources and find the perfect investment opportunities to put that money into. In return, they make money on the interest of the loan they provide and/or have stakeholder claims in your business. \nAngel investors\nAngel investors are likely a more suitable option for small business startups. They typically have spare funds available to invest and look for opportunities to gain a higher rate of return than they would get from a traditional investment. \nThe main downside to either of these investor options is that they are usually looking for a large stake in the companies they help. \nMake sure you read the agreements carefully and don’t get into a deal that will kill your business before it gets legs of its own.\nSmall business grants\nDepending on the type of business you are starting, you may be eligible for a small business grant. \nGrants are basically “free money” that you can use to invest in equipment, improvement of commercial premises, startup inventory, office supplies, or whatever other business needs you have.\nThe \nU.S. Small Business Administration\n (SBA) helps businesses find opportunities to receive grants. See if they have something you can qualify for.\nStartup incubator or accelerator\nThis last option is to find a startup incubator near you. Startup incubators are programs designed to help small businesses get started and find success. \nThey are typically run by non-profit organizations, sometimes associated with business schools or other universities. \nThe nature of an incubator program is that they will provide entrepreneurs with some of the resources that would otherwise be difficult to acquire, like a workspace, startup funds, networking opportunities, legal counsel, management training, business training, and more. \nYou may also like: \nBest practices for launching a small business\n

Top 9 funding options to back your startup business

PLEASE NOTE: \nas of the time of this publication, the PPP is not accepting new applications, and \nCOVID EIDL is no longer accepting new applications\n but will continue to accept requests for increases, reconsideration, and appeals.\nIn this article:\nHow to apply for SBA disaster funding\nWhat is the SBA economic injury disaster loan (EIDL) program?\nIs the EIDL program currently open?\nShould I apply for PPP loans instead of EIDL?\nWhat is the EIDL advance, and “targeted EIDL advance” from SBA?\nIs the SBA accepting new applications for the EIDL advance?\nHow do I find out if my area or small business qualifies?\nWho can I contact for more information?\nDue to the continuing effects of the coronavirus pandemic, Congress approved an additional $900 billion in relief in 2021. The economic relief package contained roughly $284 billion to replenish the Paycheck Protection Program (PPP), and an additional \n$20 billion for the EIDL (Economic Injury Disaster Loan) program\n, in addition to allowing new types of businesses access to these funds.\nPLEASE NOTE: NEITHER THE PPP NOR THE THE EIDL PROGRAM ARE CURRENTLY OPEN FOR NEW APPLICATIONS.\n \nThe U.S. Small Business Administration has disaster assistance to help businesses during times of crisis and national emergencies. We’ll walk you through how this assistance can help your business as well as going over step-by-step how to apply (when the SBA starts allowing new applications).\nWhat is better: a PPP loan or an EIDL advance/loan?\nThe PPP loan (when available) was fully forgivable if used on approved expenses, so we recommend \nEVERY small business, sole proprietor, independent contractor, and self-employed individual apply for a first or second draw PPP loan if the program again becomes available\n. The latest application deadline was May 31, 2021. Depending on your revenue and the specifics of your situation, you might qualify for far more funding under the PPP loan than you would get in an EIDL advance.\nIn addition, as noted above, \nthe SBA is not accepting any new EIDL applications currently\n, so if you didn’t already apply AND you don’t meet the SBA’s criteria for a “targeted EIDL advance,” your chances of getting funding are very low at this time.\nWhat’s the difference between an EIDL loan, an EIDL advance, and a “targeted EIDL advance”?\nThe SBA has offered both loans and “grants” or advances under the EIDL program, including a “targeted EIDL advance” in December, 2020.\nA TARGETED EIDL ADVANCE \nwas intended to provide businesses “located in low-income communities with additional funds to ensure small business continuity, adaptation, and resiliency.”\nThis targeted EIDL advance applied only to applicable businesses located in low-income communities \nwho already applied for and previously received an EIDL Advance\n for less than $10,000, or those who applied but received no funds due to lack of available program funding. If you don’t fit into this category, you don’t qualify for a “targeted EIDL advance.” \nThe SBA reached out to businesses who qualified.\nThe SBA first reached out to businesses that already received a partial EIDL Advance (between $1,000-$9,000). Applicants were contacted directly by the SBA via email with instructions to determine eligibility and submit documentation.\nApplicants may have qualified if they \nwere located in a low-income community \nAND \ncould demonstrate more than 30% reduction in revenue \nduring an 8-week period beginning on March 2, 2020, or later.\nNext, the SBA reached reach out to those who applied for EIDL assistance on or before December 27, 2020, but did not receive an EIDL Advance due to lack of program funding\n. These applicants may have received an email from SBA with instructions to determine eligibility and submit documentation. Applicants may have qualified for a Targeted EIDL Advance if they met the above criteria (low-income location and reduction in revenue) AND had\n 300 or fewer employees. \nAn EIDL \nADVANCE\n is not currently available. For background, in case the EIDL advance program is reinstated at some point: after the SBA completes their assessment of people eligible for “targeted EIDL advances” discussed above. An EIDL Advance is a forgivable advance of up to $10,000 that was originally calculated based on the number of employees indicated on an applicant’s COVID-19 EIDL application: $1,000/employee, up to a maximum of $10,000.\nEIDL Advance does not have to be repaid.\nRecipients do not have to be approved for an EIDL loan to receive the EIDL Advance.\nThe amount of the loan Advance was deducted from total EIDL loan eligibility.\nContrary to how it originally worked, businesses who received an EIDL Advance in addition to the Paycheck Protection Program (PPP) loan will no longer have the amount of the EIDL Advance subtracted from the forgiveness amount of their PPP loan.\nAn EIDL LOAN is a \nnon-forgivable\n, low-interest loan available to small business owners and qualified agricultural businesses in all U.S. states and territories impacted by economic disaster. This loan has a relatively low interest rate, but it must be repaid. To learn more about non-forgivable SBA EIDL loans, \nread their FAQ\n.\nWhat are SBA Economic Injury Disaster Loans (EIDL loans)?\nWhile the EIDL advance or grant is a \nforgivable\n loan advance of up to $10,000, the SBA’s Economic Injury Disaster \nLoans\n offer up to $2 million in \nnon-forgivable,\n low-interest Disaster Relief Lending assistance per small business. These are loans and must be repaid, but they can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing during this global crisis.\nIMPORTANT NOTE: \nas of the time of this publication, \nCOVID EIDL is no longer accepting new applications\n but will continue to accept requests for increases, reconsideration, and appeals.\nWho can I contact for more information about SBA disaster loans?\nPlease contact the SBA disaster assistance customer service center via phone at 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov for more information about Economic Injury Disaster Loans during this time. \nHow do I determine if my small business qualifies for SBA assistance?\nNot all businesses are eligible for disaster assistance from the SBA. Eligible businesses must meet the following criteria:\nYour business must be located in an area within a state or territory declared as a Disaster Incident for Coronavirus (COVID-19) (search \nhere\n)\nBusinesses with credit available elsewhere are not eligible\nThese loans must be used to pay fixed debts, payroll, accounts payable, and other bills that can’t be paid because of the disaster’s impact. The funds can not be used for other purposes. \nHow do I apply for SBA Economic Injury Disaster Loans?\nAgain, note that as of the time of this publication, \nCOVID EIDL is no longer accepting new applications\n but will continue to accept requests for increases, reconsideration, and appeals.\nWhen the SBA is accepting new EIDL applications, if you are in a qualified location and would like to apply for disaster assistance from the SBA, follow these steps. \nStep 1\nVisit \nhttps://disasterloan.sba.gov/ela/\n and click “Eligible Disaster Areas.”\n(Image)\n\nStep 2\nFind your state in the dropdown and click “Filter” to determine if your area has any SBA declared disasters. Confirm that your location is declared as a Disaster Incident for Coronavirus (COVID-19). \nHere’s an example from California:\n(Image)\n\nStep 3\nApply Online at \ndisasterloan.sba.gov\n. Log into your account. If you don’t already have one, proceed to Step 4. If you already have an account, proceed to Step 5. \nStep 4\nIf you do not have an existing account, you must first register to create one. \n(Image)\n\nClick “Register” and fill out at least the required fields in Part 1 of the registration form:\nFirst and last name\nSocial security number\nDate of birth\nAddress, City, State, and Zip\nPrimary phone number\nCheck the acknowledgment box\nClick next to fill out Part 2. \n(Image)\n\nOn Part 2, create your username and password and set up security questions for your account. Enter the code that you are provided and click “Next.”\n(Image)\n\nStep 5\nOnce registered, you can start the workflow required before applying for your Economic Injury Disaster Loan. \nWhen you are logged into your account you’ll land on the dashboard. From here, click “Apply Online.”\n(Image)\n\nNext, choose “Businesses and Non-Profits.”\n(Image)\n\nChoose the type of legal organization that is appropriate for your business and then select Economic Injury (EIDL).\n(Image)\n\nChoose the location of your business. Note that this should then display your location and CORONAVIRUS (COVID-19) as the Disaster Name. \n(Image)\n\nThen click “Next” and on the following pages, click the checkboxes to certify that you agree to the terms.\n(Image)\n\n(Image)\n\nStep 6\nNow you’re ready to actually start the application process! In your dashboard, click “Start” next to “Complete the Disaster Business Loan Application.”\n(Image)\n\nStep 7: Apply for your loan\nNow it’s time to fill out the application. You’ll have three pages of information to fill out. Answer honestly and to the best of your knowledge for each question. This is where you’ll fill out information about your business, the owners, and what the loan is for. \n(Image)\n\n(Image)\n\n(Image)\n\n(Image)\n\nClick “Next” and save your application. \nThat’s all there is to it! The SBA will be in touch with you to let you know the status of your application and whether you’re approved.\nAgain, note that as of the time of this publication, \nCOVID EIDL is no longer accepting new applications\n but will continue to accept requests for increases, reconsideration, and appeals. If the EIDL program is reopened again on a national level, we'll be sure to let you know!

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