September 1, 2024 11:55 am
Thereʼs a great opportunity for both West Virginia lending institutions and small businesses in need of capital. Small businesses in the Mountain State have a source of capital in the West Virginia Capital Access Program (WVCAP). This program is made possible through the State Small Business Credit Initiative (SSBCI), a component of the American Rescue Plan Act of 2021. The SSBCI provided $10 billion to state programs that support financing for small businesses by leveraging federal dollars along with private capital. The WVCAP program is designed to assist businesses that are creditworthy, but may not fit traditional lending models. WVCAP[...]
September 1, 2024 1:00 am
In the fast-paced world of startups, securing funding is often a critical step towards growth and success. For companies like Stone Tower and Endolumik, access to additional funding meant the difference between launching and expanding. Fortunately, with the support of the West Virginia Jobs Investment Trust (WVJIT) and the West Virginia Capital Access Program (WVCAP), these two companies had the opportunity to acquire the financial resources they needed to thrive. In this blog post, we want to tell you a little bit about their journey and success. The Role of WVJIT and WVCAP in Supporting West Virginia Startups Both Stone[...]
April 1, 2024 9:00 am
Embarking on the journey to launch a startup can be exhilarating, but scary. It requires not only a groundbreaking idea, but also a strategic plan to breathe life into your vision. With numerous factors to consider, understanding how to navigate the business landscape effectively is crucial for budding entrepreneurs. In this blog post we want to give you a structured path to creating your startup dream and transforming it into a reality. Here’s a business startup checklist and everything you need to know… Conduct Thorough Market Research Before you launch your idea, you’ll want to deep dive into the market[...]
December 21, 2021 8:00 am
2021 is coming to a close and next year is your year! Do you have a business idea that you just haven’t followed through with yet? 3 Steps to Startup can help you turn your plans into action, and there’s no better time than right now to make it happen. Our Master Class Series is a good place to start if you’re exploring a business idea. Otherwise, here are four things you need to do to ensure your business idea can become a reality in 2022. Formulate a Business Plan Your startup needs a business plan. What exactly does that[...]
October 19, 2021 7:00 am
This month at 3 Steps to StartUp, we want to take the time to recognize the progress that West Virginia women-owned businesses are making in our communities. In December of 2020, West Virginia ranked 11th for its percentage of women-owned businesses! At 3 Steps to StartUp, we are proud to recognize the hard work and promising futures for two women-owned startup companies here in West Virginia. Below, learn about these local, women-owned businesses and our involvement in their successes. Reid Miller Reid Miller is the founder and CEO of her self-named apparel line, which makes high-quality, classic wardrobe staples for[...]
September 7, 2021 8:00 am
It has historically been tough to get a business going in rural America. With current obstacles like the COVID-19 pandemic affecting ventures across the board, things have been even more difficult for startups in small towns. A statistic shared in early 2020 (pre-pandemic) showed that startups in rural communities make up only 12% of all startups (compared to 20% in the 1980s). Rural entrepreneurship poses some obstacles that big city entrepreneurship doesn’t. Finding capital is a big issue for entrepreneurs everywhere, but startups struggle even more in small towns. Utility access problems like the lack of access to high-speed internet hinder ventures[...]
August 11, 2021 10:00 am
Many agree that there are recognizable “types” of entrepreneurs with specific motivations and specific characteristics. Knowing what entrepreneur type you are can help you fully understand and unlock your highest potential… and it can also help you avoid pitfalls associated with your entrepreneur type. Below, we’ll describe 4 major entrepreneur types so you can see which type matches you – and so you’ll be aware of weaknesses as you pursue your entrepreneurial dreams. The Innovator The Innovator is solution-driven. Innovators are typically enthusiastic and creative, offering innovative (hence the name) solutions for currently existing problems or even problems consumers don’t know[...]
