Small and Emerging Business Development Program
What is it:
- Provides the managerial and technical assistance training needed to grow and sustain a small business
- Provides for developmental assistance, including entrepreneurial training, marketing, computer skills, accounting, business planning, and legal and industry-specific assistance
- Eligibility for the Bonding Assistance Program
- Consideration for bidding on select products or services purchased by state agencies
- SEBD intermediaries provide a free needs assessment and assistance with accessing other program benefits
Eligible expenses it will pay for:
- Up to $5,000 for a website
- Accounting
- Benefits planning
- Bid preparation/pricing
- Cash flow management
- Client case management
- Exports/imports
- Entrepreneurial training
- Finance
- Human resources
- Information systems
- Inventory management
- Legal services
- Manufacturing operations
- Marketing, consulting
- Marketing, design of marketing material and website
- Patent/copyright preparation
- Procurement, government
- Technology
- It will also pay for software if the software is necessary to provide training in its use
Eligibility:
- Must be a US citizen or legal resident
- Must be a Louisiana resident for at least 1 year
- At least 51% of the business is owned and controlled by persons who individually have a net worth of less than $400,000, excluding personal residence, business assets, and retirement accounts
- Managing owners who claim Small and Emerging Business Person status must be full-time employees of the applicant firm (20 or more hours per week)
A Small and Emerging Business is:
- At least 51% of the company is owned and controlled by one or more Small and Emerging Business Persons
- The firm’s principal place of business is Louisiana
- The company has been organized for profit to perform lawful, commercially useful function
- The business’ net worth does not exceed $1.5 million
- An applicant firm anticipates creating new full-time jobs
The Process:
- Companies need to first fill out the online application at www.ledsmallbiz.com
- LED reviews online application
- Certification status is emailed to applicant within 72 hours
- They can then contact us for an assessment
- They receive assistance as identified in the assessment
For More Information Please Contact: Shannon McCormick at smccormick@lsu.edu or 225-578-3333
