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How Do I Grow My Business? |
| Perhaps the most important concern and question from any businessperson is, How Do I Grow My Business? In almost all arenas, growth is a by-product of investment or financing. Although it is not always easy to secure financing for capital or training, one must remember and be aware that there are numerous sources of funding, with a wide variety of focuses and applications. The key is to be aware of what is out there, what is applicable to your needs, and what you are comfortable with if approved. |
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Bank Financing |
| Select Indiana Banks |
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Federal Financing |
| The United States offers two very special programs to assist the growth and development of small businesses, SBA and one most businesses are not aware of USDA Rural Development. If your business is not in a major city and meets the population criteria, USDA offers numerous loan and grant programs available solely to improve the economic well being of non-urban areas. |
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| Small Business Administration |
| USDA Rural Development |
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Indiana Venture Capital |
| Indiana is home to a number of venture capital firms and individual investors that are constantly searching for good investment opportunities. Unlike debt financing with a bank, venture capital financing is an equity activity. In short, investors will become part owners of your business and in some cases, may seek to be part of your management team as well. |
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State Financing |
| The Indiana Economic Development Corporation has a division called the Indiana Development Finance Authority. This entity is designed to assist businesses with obtaining financing for traditional and high-risk scenarios. Assistance is available in the form of loans, loan partnerships with another financial institutions, and loan guarantees to limit the exposure of a bank and to create a comfort level for the bank if the business does not have a track record or collateral. |
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| Capital
Access Program |
| Loan
Guarantee Program |
| Volume
Cap Program |
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State Training Grants |
| Could you be eligible for up to $200,000 in training grants or 50% of eligible training costs? The Indiana Economic Development Corporation and the Indiana Department of Workforce Development offer thousands in training grants (reimbursement monies that do not have to be paid back) for companies seeking to expand or upgrade the quality of their workforces. |
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| Indiana
Economic Development Corporation |
| IN
Department of Workforce Dev |
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State Tax Credits |
| Indiana
Economic Development Corporation |
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U.S. Venture Capital |
| The U.S. is also home to the largest number of venture capital firms in the world. These firms are constantly searching the country and world for investments that match their objectives and interest levels. Once again, these firms seek equity partnerships. |
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How Do I Access New Markets? |
| Obtaining new business, expanding market share, and entering new markets are the pursuits of most businesses and often one of the most important ways for a small businessperson to keep their business competitive. Larger companies have the advantage of large sales forces and big marketing budgets, but smaller firms have to be more strategic and precise with the amount of time and effort for such activities. |
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| To better assist you in this arena, the following approaches may be very beneficial and will be more usable, since we have taken the search component out of the job. These links will bring you before a host of approaches designed to put your business on the right track to obtain new business through bidding and exposure to the audiences who need to see what you can provide. |
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Exporting Opportunities |
| Small businesses around the world compete globally and have realized that the world is their marketplace not just down the street or to the county line. Whether you chose e-commerce, finding a distributor in your country of choice, making your own sales calls, or seeking a joint venture partner, the Indianapolis Chamber of Commerce and the US Department of Commerce have a host of programs (some with a money back guarantee) designed to help you take your small business global and cultivate new markets. |
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State |
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Helpful Information |
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Finding Trade Shows |
| One of the best ways to reach a targeted audience is to attend industry specific trade shows. Located throughout the US and the world, trade shows help your business and its products to be seen by the people who need to know who you are and how to find you. Using these resources, take a look at various tradeshows and find out what shows may be worth your time and effort, how to create a booth, and how to get state assistance to participate in an international show. |
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| Finding
Trade Shows |
| www.biztradeshows.com |
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Booths |
IMSDC |
Click on DirectCONNECT and submit your request for a list of qualified MBE Booth and Expo Design Firms. Your information is just a click away!
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How and When to Send Press Releases |
| Getting the word out is as important and the news itself. Use these online sources to help you know when and how to release important news about your business and products. |
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| http://www.infoscavenger.com/prtips.htm |
| http://www.publicityinsider.com/release.asp |
| http://www.webpronews.com/topnews/2005/03/23/pr-tips-for-your-business-should-we-issue-a-press-release |
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Obtaining Federal Contracts |
| As small business owners, you pay a fair share of your profits to the IRS. The links we have provided will allow you to compete for government projects that are being funded by your tax dollars. |
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Obtaining State Contracts |
| Like the federal government, the state of Indiana has thousands of needs for special projects, services, and equipment. Be a part of the process and compete for millions of dollars being spent that would be better spent in Indiana with your business. |
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| Indiana
Dept of Administration |
| State
Public Works Projects |
| State
of Indiana Opportunities |
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Obtaining Contracts in Other States |
| As a U.S. firm, the country is your oyster and there are 49 other states out there that need services and products. See how you can tap into these markets and capitalize on being informed. |
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| Opportunities
in other states |
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How do I Find Business Resources? |
| As your business grows and develops and markets become more complex, you may often need services that will help in areas outside of your expertise. In many cases this may be as simple as finding or drafting customs forms and contracts to expert advice and outsourcing of time consuming duties. For more information on a variety of free online legal and accounting information to specialized particulars and niche market professionals, click on these various resources for information that will reduce the amount of time you have to spend diverted from your core business. |
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Attorneys |
| Never take the law for granted or approach serious legal issues without the training and experience of legal counsel. Attorneys bring a focused and specialized component to a small business to protect and preserve your well-being and offer advice as well as services to keep your business on track. In addition, many firms are specialists and you should know who does what so you get the right team to handle the right problem. |
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Select Indiana Law Firms |
| Baker
and Daniels |
| Ice Miller |
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Environmental Consulting and Training Grants |
| Environmental issues are often complex and mistakes can be expensive in terms of monetary and ecological damages. Indiana is home to many experts that could assist you with this component of your business, plus keep you up to date and in compliance with annual changes in laws and regulations. |
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Financial Planning |
| So often as businesses grow it becomes more and more important to provide great employee benefit packages to retain your best, seek investment diversification of profits, and shelter earnings through defined tax strategies as a business and as an individual. Although there is a lot of information available, financial planners provide an invaluable service that will help you protect your investments and be able to properly preserve assets for your family and the financial well being of your company. |
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FREE Business Consulting |
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General Legal Assistance and Forms |
| Many legal questions may be simple and may not require the time or expertise of attorney, plus you may save on attorney fees by being able to research and brainstorm yourself. The web offers a host of sites that may answer your questions or help you to ask more informed or new questions in areas you may not have considered. |
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General Accounting Information and Forms |
| Often in business, people tend to go to their accountants during tax season, annual audits and other activities dealing with accountability. Many times throughout the year simple financial questions and/or issues pop up that may not require an accountant. The web has some very good resources that may answer your questions very quickly, provide you with paperwork for proper documentation or provide an answer to clarify a question. |
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Money Management Resources |
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How Do I Find and Manage Staff? |
| Employees are the backbone of any business and ignoring this would be a huge oversight and could severely hamper the development of your business. Human resource departments are a nice luxury, but even those who can afford them are often choosing to out source this activity or to incorporate the use technology to find employees. Also, many employee questions and documentation issues can be found on the web. To explore some of the resources available to help you find employees, take a look at some of these options. |
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Accessing Indiana Newspapers |
Select Indiana Newspapers |
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Employment Law Web Sites |
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Finding Interns |
| IBDC HR DIVERSITY PORTAL |
COMING SOON! |
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Resources for Human Resources |
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Recruiting Firms |
| www.headhuntersdirectory.com/USA/headhunters_recruiters/Indiana/area.htm |
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Salary Data |
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Staffing Assistance |
| IBDC |
Click on DirectCONNECT and submit your request for a list of qualified MBE Staffing Firms. Your information is just a click away! |
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Unemployment Offices |
| Indiana
Department of Workforce Development |
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Using Online Job Sites |
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How Do I Conduct Research? |
| As your business grows and markets shift or change, it is always wise to be ahead of the game by being aware of yourself, competitors, potential vendors, new products etc. This section will assist you by providing a host of research tools to help you analyze your business setting and simply verify the standings and products of business colleagues and making sure that you are competitive in your markets and retaining the team that help put you where you are. |
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Finding Business Forms |
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Government Statistics |
Federal |
| Census
Data |
| Labor |
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Indiana |
| STATS
Indiana |
| Workforce
Statistics |
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MBE Research Firms |
| Click on DirectCONNECT and submit your request for a qualified MBE Research Firms. Your information is just a click away! |
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Researching Companies |
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Using a Search Engine |
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How Do I Learn About University/Industry Technology Transfer Projects? |
| Indiana has a host of great universities and colleges and they are on the cutting edge of technologies and applications that could help your business. Take a look at these institutions of higher learning and see what may be applicable to your business. Many of these programs and assistance are free and also you may be able to scout talent from an outstanding source for future employees. |
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Links to Ongoing Transfer Projects |
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Private Universities |
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Public Universities |
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Technology Transfers Programs |
| ATAIN - Access
Technology Across Indiana (a collaborative research effort between
Indiana universities and schools) |
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How Do I Learn About Regulatory Agencies and Compliance? |
| Compliance is something that every company wants to do, but in many cases it is so hard to find out who or what you need to comply with. Browse through this various agencies to see how they may affect your business. |
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Federal Agencies |
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Finding State Agency Information in Other States |
| If you have a business or an subsidiary in one of Indiana's neighboring states or may be considering it, you may want to check out these sites to see what you need to do to be in compliance. |
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MBE Research Firms |
| IBDC |
Click on DirectCONNECT and submit your request for a qualified MBE Research Firms. Your information is just a click away! |
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State Agencies |
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How Do I Get Support For My Minority or Female Owned Business? |
| Being a small business owner can be tough, but being a minority or female business owner can add even more pressures than usual. Governments, many multi nationals, and various organizations all realize this as well and have business and networking opportunities available to make your transitions and growth a little less cumbersome. Learn more about how your firm may be able to get a better foothold in the market place. |
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Minority Business Development |
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Research and Information |
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Small Business Administration for Women |
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WBE Certifying & Business Associations |
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How Do I Get Politically Involved? |
| So often business is subjected to bills and legislation that would be unthinkable to us as individuals. As small businesses owners, many people feel that they are helpless and they are right if they do not step forward to be heard. The general public is not taken for granted because people speak up and demand to be heard if they are being wronged. Small businesses can and should do the same. This section makes it easy to be heard electronically and swiftly. Will your emails be ignored? Only if you do not send them. |
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Congressional Small Business Committees |
| US House
Small Business Committee |
| US Senate
Committee on Small Business & Entrepreneurship |
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Indiana House of Representatives |
| IN
House Republicans |
| IN
House Democrats |
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Indiana State Senate |
| IN
Senate Republicans |
| IN
Senate Democrats |
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Indiana U.S. Senators |
| Evan
Bayh (D) |
| Richard
Lugar (R) |
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Indiana U.S. Congressmen (by District): |
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