Obtaining funding is one of the biggest hurdles that most entrepreneurs will have to overcome. If a bank loan won't cover what you, and you don't have connections to investors, it can be tough to know where to begin. Online crowdfunding, raising smaller amounts of money from multiple backers, has become an increasingly common solution to this dilemma because it allows startups to reach out to a large number of potential investors at once. To learn more, click here.
Kiva Zip is a program that makes small microloans to entrepreneurs. Rather than assessing your credit history and financial statements, Kiva Zip uses your character and trust network as a measure of your creditworthiness. Almost 63,000 people have supported a small business owner through Kiva Zip. Click here to learn more about how this program works.
What is Biz Forge?
Biz Forge is a program that BizStarts runs to help companies start up or grow. It helps you create a customized Action Plan that may include combining one-on-one business coaching, attending BizStarts monthly educational workshops called Professional Programs, participating in the Mentor Program, and attending networking events. BizForge is much more than a one-size-fits-all program and your Action Plan is customized to fit your unique needs and stage of development.To learn more about this program that serves Southeastern Wisconsin, click here.
Whitewater Granted Opportunity Zone Designation for Two Tracts
The City of Whitewater learned recently that it has received Federal approval for two proposed Economic Opportunity Zones (EOZs) in the community. The EOZ designation, which will provide an additional economic development tool in the City of Whitewater, was created under the Tax Cuts and Jobs Act which Congress passed late last year and President Trump signed into law. “We’re very excited at the quick approval of our two EOZ nominees given by US Treasury Secretary Robert Mnuchin,” said Dave Carlson, Executive Director of the Whitewater Community Development Authority (CDA). Governor Walker had included Whitewater’s two nominees as a part of a broad list of 118 sites statewide which were forwarded to Secretary Mnuchin in late March. “This has the potential to spark some much needed growth in our community,” said Larry Kachel, Chair of the Whitewater CDA. “The EOZ program will allow certain investment gains to be redirected, with significant tax savings, into economic opportunity funds which will make investments in communities like Whitewater.” Investors will be able to earn permanent tax savings on the original capital gain based on how long they keep it invested in the economic opportunity fund. “The details of how the program will operate still need to be ironed out in Washington D.C., but we are excited to be adding this new program to our economic development toolbox,” said Carlson. “We’ll begin working right away with developers who may wish to do projects in Whitewater based on the addition of this new incentive.” Click here to read more.
Changing Patterns of New Construction - What Do They Mean for Municipal Budgets?
More and more pressure is being put on municipalities, which makes economic development initiatives even more important. Since 2006, the state has limited increases in municipal property taxes to the rate of new construction in the community. In recent years, not only has statewide new construction lagged 2006 rates, but fewer cities and villages are growing even modestly. Among those growing the fastest since 2012, 59% are near a major four-lane highway and 42% had created at least one tax incremental finance district since 2011. To read more, click here..
CREATING A 'CULTURE OF YES'
Many communities espouse themselves to be business-, family-, or visitor-friendly, but very often this intent is not reflected by the actual user experience of the place. Frequently, policies that guide development or activity in a space are created without regard for unintentional consequences, or these policies have been created on an ad hoc basis over time which collectively makes it simple for officials to say no to new ideas, people and activities, but much more complicated to say yes to a new idea. Click here to read more.
Equipment Loans for Manufacturing
FIRST BUSINESS ECONOMIC SURVEY RESULTS
Get a highly anticipated look at the results of our 2017 First Business Economic Survey. With 15 years of data from Wisconsin business leaders, the First Business Economic Survey reflects executives’ assessments of this year’s overall and regional financial performance, as well as predictions for the next year. Read the report here.
Elkhorn Community Business Connection
Elkhorn's new networking group is called "Elkhorn Community Business Connection Group." It is a non-competitive group that will meet every 2nd and 4th Wednesday of the month. Meetings start at 8 and are held in the Conference Room of the Elkhorn Chamber. Meetings will last no longer than an hour. For more information, for more information, click here.