Starting a small business can be tough, but maintaining a small business is tougher. Without the right resources and market insight, any startup will stumble into a thousand unforeseen struggles and missteps. Finding a support community with the capacity to help your business grow is crucial to surviving in any area, but especially in Louisiana.
The Economic Gardening Initiative
Organized through Louisiana Economic Development, this initiative aims to aid small businesses in Louisiana by providing them with pertinent information and economic resources to help them thrive in state. A team specialized in economic development is designated to each participating business, giving them a combination of technical and analytical insights to drive company growth.
These services cover a wide variety of business facets and may include:
- Review and analysis of internal business strategy, competitors and opportunities for market penetration.
- Market research and sales lead development.
- Increasing online visibility and authority in specific disciplines and industry niches to better connect with customers and clients.
Your business may qualify for the Economic Gardening Initiative if you meet the following requirements:
- Louisiana-based: Your business must have operated its principal location in Louisiana for at least the past two years.
- Annual Revenue Restrictions: Your business must make between $60,000 and $50,000,000 a year.
- Employee Restrictions: Your business must employ at least 5 but not more than 100 people.
- Demonstrated Growth: Your business must have shown marked growth in either revenue or jobs in at least two of the last five years.
- Outside Market Reach: Your business must be able to sell products or provide services outside of the immediate market area.
- Work Within a Target Industry: Louisiana Economic Development has identified specific industries that are being specifically targeted for this initiative. These include finance and insurance, manufacturing, administrative services and other up and coming industries defined by LED.
- Purposeful: Your business must be lawful in the services it provides and serves an economically useful function in the community.
If you feel like your business meets the necessary prerequisites and would benefit from the Economic Gardening Initiative, please register online or visit Louisiana Economic Development’s website for more information.