Partnering for Progress:
Tools for Local Governments to Support Southwest Virginia Startups and Businesses
‘Round the Mountain has focused its efforts to “promote sustainable economic development of the region’s communities by assisting local artisans with marketing, educational, and entrepreneurial opportunities,” to quote our mission statement.
We are a collaborative workspace community located on Courthouse Hill at the intersection of Court Street and Main Street
Accelerating Appalachia is a nature-based business accelerator, connecting innovative businesses, investors and mentors aligned with people, place and prosperity.
Quickbooks
QuickBooks is a software that a business owner can use for financial record keeping.
Fractional CFO
Fractional CFO services offer as needed assistance in all accounting aspects. There are multiple companies online that you can engage by searching Fractional CFO.
IRS
The IRS website houses all of the information that you need regarding taxes.
Virginia Tax Information
The Virginia Tax website provides relevant information for business residents and businesses.
These AFID Planning Grants give local governments the flexibility to undertake the kind of planning, study, or local initiative they think best to grow and support agriculture and forestry-based businesses in their community and region. The planning grant program also provides a greater voice in local economic development to agriculture and forestry stakeholders by requiring that any grant funded program be implemented by a board, committee or working group representing agriculture and/or forestry interests in the affected locality. For additional information about the program and the application workshops, e-mail Stephen Versen, AFID program contact at the Virginia Department of Agriculture and Consumer Services (VDACS) at stephen.versen@vdacs.virginia.gov.
Links:
Application
Appalachian Spring is a partnership of community and regional development, tourism, environmental stewardship, outdoor recreation, and entrepreneurial assistance stakeholders to develop and promote Southwest Virginia as a world class destination of natural and recreational assets for visitation and enjoyment.
Appalachian Sustainable Development is working to make a difference in Central Appalachia. They focus on giving Appalachians the tools they need to fight poverty, revitalize their communities and protect their natural resources.
In 2004, the Virginia General Assembly designated Carroll County, the City of Galax, and Grayson County as “Virginia’s Entrepreneurial Region.”
To promote this distinction, these localities formed the Blue Ridge Crossroads Economic Development Authority (BRCEDA). BRCEDA has taken the lead in devoting considerable resources to fostering entrepreneurship as an integral part of their comprehensive economic development plan.
Bridging Virginia, a non-profit community development loan fund, is proud to provide access to affordable capital and technical assistance for historically marginalized small businesses and places.
Building Collaborative Communities is designed to assist regions in creating and sustaining new economic opportunities across Virginia. The program promotes regional economic collaborations in economically-distressed areas to stimulate job creation, economic development and build community capacity and leadership.
Building Collaborative Communities is a broad-based program that that provides the financial and technical resources from a number of state entities. By working collaboratively, regions are able to capitalize upon the regional place based assets that create appealing and unique communities where people want to live and work.
Building Entrepreneurial Economies is the next evolution of Virginia’s commitment to micro-entrepreneurship. Formerly known as Virginia Enterprise Initiative (VEI), BEE is taking a more local approach to developing stronger businesses that help build stronger communities.
BEE provides grants and technical assistance to regional and local micro-enterprise development organizations (MDOs) that specialize in assisting non-traditional entrepreneurs. This assistance includes pre-concept counseling, business plan development, credit repair and counseling, credit access and continuing technical assistance. To deliver these services, the MDOs also partner with banks, area businesses, educational institutions, each other and/or other private and public entities within the community. These organizations provide a service that often is not otherwise available and are designed to support the entrepreneur, even after accessing capital. VEI seeks to engage MDOs that provide innovative processes to attract and assist micro-entrepreneurs.
The One Stop Virginia Department of Business Assistance works with existing businesses to foster growth and prosperity and assisting entrepreneurs in forming a lucrative business. They host a variety of educational events throughout the Commonwealth weekly. Topics range from selling to the state, social media, mobile marketing & eCommerce, iPad for business, accessing capital, and other business resources.
Bplans provides a wealth of information on how to prepare a business plan. The website has free templates, sample business plans, outlines, and etc. This is a great resource to use in conjunction with your Small Business Development Counselor.
Templates
- Pitch Deck
Venture Capital Template provides assistance on composing a meaningful and successful presentation regarding your business venture. - Cash Flow Template
- Strategic Plan Outline
The Clinch River Valley Initiative (CRVI) is a pioneering effort to build local economies in the coalfields of Southwest Virginia, focusing on the Clinch River Valley—one of the most biodiverse river systems in North America. Working at a watershed scale with several local partners, this grassroots effort has developed significant support and momentum throughout the region. Utilizing a consensus-based approach, project partners have developed goals for connecting downtown revitalization, outdoor recreation, creating a state park, enhancing water quality, entrepreneurship and environmental education along the Clinch River. Strategies are being identified to connect downtown revitalization with outdoor recreation along the Clinch River Valley, and a CRVI Action Plan has been developed. Additionally, the effort builds upon the unique cultural and ecological assets of the Clinch River to create new possibilities in the communities along the Clinch as distinctive cultural and ecological areas, particularly around environmental education, outdoor recreation and entrepreneurship.
Experience the cultural heritage of southwestern Virginia’s coal mining towns on over 300 miles of scenic byways. Driving through seven counties, travelers can see a range attractions such as working mines, museums, outdoor thrills, and mountain music halls.
Facilities that cater to visionaries seeking to unlock new market potential with resources and amenities for businesses to thrive. Members have 24/7 access to unreserved or reserved open workstations, cubes, and one- to four-person team offices.
The Community Business Launch (CBL) is designed to assist communities in taking a systems approach to defining and pursuing an asset-based small business development strategy. The program starts with a community’s unique vision for its future and then uses a local business competition to find and foster the entrepreneurs that connect with that vision. CBL will provide the tools to effectively prepare multiple entrepreneurs to operate successful businesses in a downtown or neighborhood commercial district and allow them to compete for funding to start up their new endeavor.
While only a limited number of entrepreneurs may win the business competitions, CBL will give rise to many budding entrepreneurs that have been prepared, through the CBL initiative, to be successful businesses. In addition, it will help communities begin to develop a coordinated, comprehensive sustainable environment that identifies, launches and supports community-based entrepreneurs and small business at all levels of development.
The Virginia Community Development Block Grant (CDBG) program provides funding to eligible units of local government for planning and implementing projects that address critical community development needs, including housing, infrastructure and economic development. The goal of the CDBG Program is to improve the economic and physical environment in Virginia’s communities through activities which primarily benefit low- and moderate-income persons, prevent or eliminate slums and blighting conditions or meet urgent needs which threaten the welfare of citizens.
Whether you need desk space for the day or private executive level accommodations to host a prospective client, this is the space for you! Cowork 1107 is located at 1107 7th Avenue, Suite 201 inside the beautiful Broad and Main on 7th in Uptown Marion. Overlooking City Square Park, Cowork 1107 is the living room of the business community and co-located with Marion Economic Development Corporation
CoWork Bristol was created to give entrepreneurs, businesses, and nonprofit organizations a state-of-the-art facility and professional support to work, learn, collaborate, and grow. Our facility combines the latest technology with comfortable furnishings and numerous amenities to provide a flexible and effective work environment. Designed to offer multiple types of workspaces to accommodate a diverse range of business needs, CoWork Bristol gives its members the ability to utilize meeting rooms, private offices, collaboration spaces, and open workspaces, all for less than the cost of one small traditional office.
The Crossroads Rural Entrepreneurial Institute, located in Galax, VA, opened in July 2005 to help improve the lives of people in southwest Virginia and beyond, by providing an innovative educational and economic development engine that will contribute to the revitalization of the region’s economy while offering a brighter future for its citizens.
Ninth District Development Financing
The Ninth District Development Financing provides funding for a diverse set of thriving tourist related businesses including arts, cultural, historical, outdoor adventure, and entertainment venues, Ninth District Development Financing, Inc. meets its objectives to create and retain jobs, promote the region’s historical significance and cultural preservation, and attract tourists while supporting and expanding the tourism economy of the Ninth District.
People Incorporated
People Incorporated of Virginia, one of the Commonwealth of Virginia’s largest and most successful Community Action Agencies. People Incorporated offers over 32 programs designed to, “give people a hand up, not a hand out.” People Incorporated Financial Services offers loans, development services and financial products to small and emerging businesses. People Incorporated Financial Services works to strengthen local economies in 22-jurisdiction service areas including the counties of Bland, Buchanan, Carroll, Dickenson, Floyd, Grayson, Lee, Russell, Scott, Smyth, Tazewell, Washington, Wise, and Wythe and the cities of Bristol, Galax and Norton in Southwest Virginia and the counties of Clarke, Frederick, Page, Shenandoah, and Warren in the Northern Shenandoah Valley.
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An Entrepreneur Challenge is a competitive process for potential and emerging entrepreneurs that provides business training, mentorship, networking opportunities, and an improved level of coordinated resources and community support. The competitions raise awareness of Southwest Virginia entrepreneurial opportunities and typically offer investment grants to top competitors following a pitch event and submission of a business plan.
Since 2012, the Southwest Virginia region has held 36 competitions with over 290 program graduates.
Start your own competition!
Communities across Southwest Virginia are joining the trend and supporting entrepreneurial development by hosting business plan competitions. Through entrepreneur challenges, communities can show their support for small businesses by providing emerging or existing entrepreneurs with training, mentorship, and an improved level of coordinated resources. Coordinating a competition can be accomplished by following a simple process and using the abundant resources available in the region.
Use the My SWVA Opportunity Entrepreneur Challenge Toolkit to host a competition in your community!
Learn more about funding resources available through the Community Business Launch program.
Entrepreneur Competitions in the Regions
2013 Entrepreneur Challenge
As the first regional business plan competition in Southwest Virginia, the 2013 Entrepreneur Challenge was a seven month competition encompassing the Coalfield region of Southwest Virginia to include 7 counties and 1 city. Sponsored by the Virginia Department of Housing and Community Development (DHCD), the program provided over $30,000 in award funds to entrepreneurs in SWVA to start a new business or expand an existing business. The program graduated eleven regional entrepreneurs and consisted of structured business training, business plan development, networking events, mentoring program, and a community incentives program.
Better Business Basics Plus
The Better Business Basics Plus (BBBp) program was developed by the Wytheville-Wythe-Bland Chamber of Commerce in partnership with the Mount Rogers Planning District Commission, Virginia Department of Housing and Community Development and Virginia Tourism Corporation. The 2015 program consisted of a six week intensive business training course that culminated with a business plan competition in which participants competed for grant money and additional prizes worth over $5,000.
Believe in Bristol
Floyd County
Launch Something in Pulaski
Launch something Pulaski is a downtown economic revitalization project aimed at supporting new business formation and expansion in the downtown business district and beyond. Through a highly competitive and rigorous process, Launch Something Pulaski awards investment grants and in-kind prize packages to new businesses.
Mount Rogers Business Challenge
The Blue Ridge Crossroads Small Business Development Center, the Blue Ridge Crossroads Economic Development Authority, and Grayson County partnered in 2015 to offer entrepreneurial contest.
Norton Business Challenge
The Norton Business Challenge was a competitive process for new entrepreneurial ventures and existing businesses looking to expand with additional job creation in Norton City Limits.
Opportunity Cup
Modeled after the 2013 My Southwest Virginia Opportunity Entrepreneur Challenge, the Opportunity Cup was a level II entrepreneur challenge for existing businesses looking to expand with additional job creation in Southwest Virginia. Given the number of new local competitions since 2013, the Cup accepted businesses in Southwest Virginia who graduated from qualifying regional business challenges in Planning District Commissions 1, 2 and 3.
People Inc Competitions
People Incorporated is a non-profit Community Action Agency and Community Development Corporation committed to providing opportunities for people to reach their goals in order to enhance their lives, families, and communities. People Incorporated develops programs and strategies that are designed to move people and communities into the economic mainstream. In 2014, People Incorporated coordinated four regional business plan competitions in the Coalfields of Southwest Virginia.
Marion “Pop up” Entrepreneur Boot Camp
Marion’s Community and Economic Development Department offers a five -week class designed for new business owners and entrepreneurs who are looking to start their own business and have a basic understanding of developing a business plan, or have previously completed one of our “Boot Camps” and are still interested in starting a business. The intense pace of this class takes four(4) weeks to explore in-depth four of the major concepts of small business success presented by local experts in each of the three topics. On the final night of class, individuals who are interested in the grant opportunities will present their plans to be eligible for up to $5,000 in grant monies to assist with starting your own business!
Smyth County
The Chamber of Commerce of Smyth County offers an eight-week boot camp for entrepreneurs who have an idea to open a business in Smyth County or who are expanding their current operations.
Startup Wythe In
Downtown Wytheville, Inc. and the Joint Industrial Development Authority of Wythe County are partner to offer the Startup Wythe In – Business Idea Competition. Startup Wythe In is designed to encourage and develop an entrepreneurial spirit by mentoring participants through business plan development for innovative business ideas. Startup Wythe In empowers participants to establish new business ventures and create local jobs.
Washington County Business Challenge
The Washington County Business Challenge is a competitive completion for start-up and existing businesses looking to expand with additional job creation in Washington County, Virginia, Town of Abingdon, Town of Glade Spring or Town of Damascus.
Entrepreneurial ecosystems describe communities or regions that foster an overall business climate supportive of entrepreneurship. These communities portray a positive, enthusiastic attitude that infuses an entrepreneurial culture; one that asks “how can we help you start and succeed at business?” There are many resources and incentives that communities can offer to new and existing entrepreneurs to build a thriving entrepreneurial ecosystem. Check out a few helpful tools to help strengthen your entrepreneurial ecosystem.
Launch an Entrepreneur Challenge Toolkit
Community Entrepreneur Package Examples
Main Street America – Entrepreneurial Ecosystems and the Role of Commercial Districts
Virginia Main Street – Creating a Successful “Entrepreneurial Ecosystem”
460 Angels
Funding and coaching of early stage hi-tech entrepreneurs.
Angel Fund
An angel investor (aka “angel”) is an affluent individual or private entity who provides capital for a business start-up and early stage growth, usually in exchange for convertible debt or ownership equity. A small but increasing number of angel investors organize themselves into angel groups or angel networks – commonly called “angel funds” – to share research and pool their investment capital, as well as to provide advice to their portfolio companies.
Center for Innovative Technology Gap Funds
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology and life science companies.
By capitalizing on the unique qualities of our region, Southwest Virginia utilizes its cultural and natural assets to build a comprehensive, long-term, sustainable economy through initiatives like the Southwest Virginia Cultural Center & Marketplace (formerly Heartwood), The Crooked Road,’ Round The Mountain, and related cultural heritage organizations and venues that promote entrepreneurial and employment opportunities.
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