FOR IMMEDIATE RELEASE SMBR Announces Partnership with EBGI to Empower Small, Minority and Women-Owned Businesses
Austin, TX – The City of Austin’s Small and Minority Business Resources Department (SMBR) is thrilled to announce a new partnership with the Economic Growth Business Incubator (EGBI). The collaboration is set to significantly enhance the support services available for the City’s small, minority and women- owned business enterprises (MBE/WBE) by focusing on crucial aspects of business growth and city procurement processes.
A New Era of Business Support and Growth
“Through this partnership, we are reinforcing our commitment to the growth and success of small, minority and women-owned businesses in Austin,” said Director of SMBR Edward Campos.
“Collaborating with EGBI allows us to offer a more comprehensive range of services tailored to the unique challenges our small, minority-and -women-owned businesses face.”
For more than 20 years, EGBI has provided training, coaching and support to aspiring and existing business owners who face barriers to growing a successful business.
“EGBI has always been where the community needs it, and we’re excited to partner with SMBR in this endeavor. We provide three times the average coaching hours than most business incubators – and SMBR comes with their impact. Our goal is to provide sustainable growth and success for the businesses that provide traction to our economy,” said Executive Director of EGBI Larissa Davila. “We believe that through this collaboration, we can make a significant difference in the Austin business community.”
Commitment to Continuous Improvement
The partnership will encompass a variety of services aimed at strengthening the business capabilities of firms: Orientation and Training: Firms will receive comprehensive guidance on navigating the City of Austin Finance Online website, enhancing their ability to submit bids and secure city contracts. Business Coaching: Expert coaching will cover an array of topics including business strategy, financial management, preparation for financing applications, and navigating city payment processes. Financial Operations Support: Assistance in adopting more reliable systems for tracking financial operations, including setting up and training on QuickBooks Online. Hands-On Assistance: Firms will learn how to effectively utilize financial reports for business management and gain insight into finding and responding to contracting opportunities.
A Step Forward in Economic Development and Social Mobility
The partnership represents a significant step in fostering business development and economic mobility in Austin. By empowering small, minority and women-owned businesses, the City of Austin reaffirms its commitment to creating an inclusive and thriving business environment.
How to Get Involved To receive training, coaching, and/or support from EGBI, small and minority-owned businesses will need to complete a short intake form that is available on the City’s website. Firms will then need to submit the form to SMBR’S Program Manager I Catherine Sak at Catherine.Sak@austintexas.gov or smbr@austintexas.gov.
#
About SMBR The Small and Minority Business Resources Department (SMBR) administers Minority-Owned, Women- Owned, and Disadvantaged Business Enterprise Procurement Programs for the City of Austin. Our mission is to promote access and equity on City of Austin contracts, providing economic opportunity to small, minority-owned, women-owned, and disadvantaged businesses. About EBGI Economic Growth Business Incubator (EGBI) is a small business incubator or business accelerator established in 2003 in collaboration with several community entities including the Greater Austin Hispanic Chamber of Commerce and the Housing Authority of the City of Austin. In 2023, EGBI was recognized as the No. 1 incubator in Central Texas by the Austin Business Journal and in 2024 the incubator received the CAN Butler Award for Spirit of Collaboration and the Candid Platinum Seal for Transparency, and Best Places to Work for Working Parents. EGBI provides business coaching to entrepreneurs in Central Texas wanting to start and/or grow a business. Up until 2024, our organization has provided over 4,200 hours of business coaching in bookkeeping, sales, marketing, business planning, online presence, government contracts and similar topics to provide traction to small business owners.
As a Veteran, you’ve already demonstrated courage, commitment, and resilience in your service to the nation. Now, imagine translating those qualities into entrepreneurial success by starting or expanding your own business by tapping into government contracting opportunities. The Small Business Administration (SBA) offers certification programs for Veteran-Owned Small Businesses (VOSB) and Service-Disabled Veteran-Owned Small Businesses (SDVOSB), providing a pathway to exclusive contracts and fostering economic growth.
You might ask, “why would I need a certification as a veteran owned business through the Small Business Administration?” Well, there are a few good reasons why this certification is a good idea for your business as a veteran. One, it allows you to compete for certain federal and/or state government contracts. It also will allow you to purchase government supply surplus items that can help you to continue to grow your business. And importantly, it underscores your brand as a veteran-owned or service-disabled veteran-owned business to your customers and your community.
In this guide, we’ll walk you through the step-by-step process to achieve VOSB or SDVOSB certification.
Step 1: Verify Your Eligibility
Before diving into the certification process, ensure you meet the eligibility criteria. For VOSB, veterans must own and control at least 51% of the business. For SDVOSB, service-disabled veterans must meet the same criteria. Confirm your eligibility and proceed with confidence.
Step 2: Gather Your Documents
Collect the necessary documentation, which typically includes:
DD Form 214, Certificate of Release or Discharge from Active Duty.
VA disability letter (for SDVOSB).
Corporate documents (articles of incorporation, operating agreements, etc.).
Business financial statements.
Business tax returns.
Ownership and control documentation.
Step 3: Create an SBA Account
Navigate to the Small Business Administration (SBA) website and create an account. This account will be your gateway to the online certification application. Ensure you provide accurate information during the account creation process.
Step 4: Complete the Online Application
Select the certification program (VOSB or SDVOSB) and complete the online application. Upload all required documents and double-check the accuracy of the information provided. This step is pivotal in moving forward with the certification process. You want to make sure there are no delays due to not providing all the required information.
Step 5: Obtain a D-U-N-S Number
If your business doesn’t have a Dun & Bradstreet (D&B) Data Universal Numbering System (D-U-N-S) number, obtain one. This unique identifier is essential for government contracts and will strengthen your application.
Step 6: Register on SAM.gov
Register your business on the System for Award Management (SAM) website. This no cost registration is a prerequisite for federal government contracting and complements your VOSB or SDVOSB certification. Importantly, this is a required registration to do business with the U.S. Government.
Step 7: Submit Your Application
Once your application is complete, submit it through the SBA’s online portal. This marks a crucial step toward unlocking exclusive contracting opportunities for your veteran-owned business.
Step 8: Await Verification and Approval
Patience is key as the SBA reviews your application. Be prepared for potential requests for additional information and respond promptly to expedite the certification process. So, please be sure to keep your eye on your emails from the SBA.
Step 9: Respond to Requests for Information
If the SBA requires additional information or clarification, respond promptly and efficiently. This responsiveness demonstrates your commitment to the certification process.
Step 10: Receive Your Certification
Upon approval, you’ll receive official certification as a VOSB or SDVOSB. This achievement opens doors to government contracts reserved only for veteran-owned businesses.
Step 11: Market Your Certification
Update your marketing materials, website, and government contracting databases to showcase your VOSB or SDVOSB status. This certification is a powerful tool in attracting both government and private-sector contracts.
For further support with this process, seek guidance from the SBA through your local Veterans Business Outreach Center (VBOC) Program here.
Conclusion
Becoming certified as a VOSB or SDVOSB is a strategic move that not only honors your military service but also positions your business for success in the competitive world of government contracting. Follow these steps diligently, stay informed, and embrace the opportunities that come with being a certified veteran-owned business. We here at EGBI wish you good luck on your journey to unlocking new horizons for your entrepreneurial venture!
Please do not hesitate to reach out to EGBI’s Business Coach and Veteran Services Coordinator Monica Perras at perras@egbi.org or call her directly 737-239-0221. A business coaching appointment is at no cost due to a contract with the City of Austin.
Cleantech Open is the largest and oldest cleantech startup accelerator program in the United States, with the mission of finding, funding and nurturing entrepreneurs around the world with ideas to solve environmental and energy challenges. Through this annual program, new clean technology companies are connected with the people and resources that will accelerate their success. The startups selected in the different stages will be eligible for advice from specialized mentors in the sector, as well as prizes starting at $10,000 US dollars.
This call may result from the interest of emerging companies in the area of clean technologies, as well as research centers and academics. Interested parties may submit their applications until February 29 (with an application fee of $30 USD), or until April 14, 2024 (with an application fee of $75 USD).
One valuable resource that can significantly impact the trajectory of a small business are grants. They offer the financial support required to fuel the growth of your business. In this article, we delve into various grants and grant platforms that could suit your business and the application process.
Each year, this competition grants $30,000 to 10 deserving business owners, with an added $20,000 grant awarded to a veteran entrepreneur selected from the pool of grand prize winners. To qualify, your business must be for-profit, employ fewer than 99 individuals, and possess a valid FedEx business shipping account number. This application opens on March 1, 2024, at 12pm ET and closes on April 1, 2024, at 12pm ET. Grant recipients will be announced on May 16, 2024. This grant application requires a short company bio with high-quality images that best represent your business and a two-minute video pitch.
Through the NASE Growth Grants program, your small business could secure up to $4,000 in funding. Grant applications undergo quarterly review according to the schedule posted on the NASE website. To qualify, membership in NASE is required, and applicants are asked to submit a business plan. Evaluation criteria for grant allocation include an assessment of the identifiable business need, a detailed plan for the use of grant funds, the potential for the grant to address the identified need, and the expected impact of the grant on the business.
This database offers a broad spectrum of opportunities customized for small businesses and contains more than 1,000 federal grant programs. These grants are from a variety of government agencies and cater to a diverse range of entrepreneurial pursuits. With eligibility criteria and monetary value varying widely, these grants provide support across a broad spectrum of business endeavors.
This database is similar to the one listed above and is an expansive online platform dedicated to listing hundreds of small-business grants sourced from across the United States. However, compared to the one above this is not through a variety of government agencies.
Starting a new business comes with its challenges, but if you’re a veteran in the state of Texas, there’s a unique opportunity to ease the burden. The Texas Veterans Commission Veteran Entrepreneur Program offers a Veteran Verification Letter (VVL), a powerful tool that not only recognizes your service but also provides tangible benefits. In this blog, we’ll walk you through the step-by-step process of obtaining a VVL and unlocking significant cost-saving advantages.
Eligibility Check
Before diving into the application process, ensure you meet the eligibility criteria for the Veteran Verification Letter. To qualify, you must have: – An Honorable/General Under Honorable US Military Discharge – 100% Veteran-Owned (can be more than one veteran owner) – A new entity formation between January 1, 2022, and December 31, 2025
2. Click on the “Connect with a Business Consultant” button to initiate the process.
3. Complete the three-part questionnaire provided by the Texas Veterans Commission.
Step 2: Information Gathering
Prepare the following documents before initiating contact with a Business Consultant: – DD214 – Member 4 or Service Copy 2: Ensure it shows discharge status. – VA Letter of Service Disability: Must include branch of service, dates of service, and discharge status. – NGB22 (Texas National Guard Only): For Texas National Guard members. – Verification of any name changes: Include relevant documents like Marriage Certificates, Divorce Decrees, etc.
Step 3: Contact with a Business Consultant
After completing the questionnaire, a Business Consultant from the Texas Veterans Commission will contact you directly. Be ready to share the gathered information and discuss your business plans.
Benefits of the Veteran Verification Letter.
Upon successful verification, you’ll receive a Veteran Verification Letter. This document holds significant advantages for your new business: -Waived $300 Registration Fee: Say goodbye to the initial registration fee with the Secretary of State. -Five Years of State Franchise Tax Exemption: Enjoy the first five years of your business without the burden of state franchise tax.
Conclusion Obtaining a Veteran Verification Letter through the Texas Veterans Commission can be a game-changer for your new business. Not only does it recognize your military service, but it also provides substantial financial benefits. Follow the steps outlined in this guide, and you’ll be on your way to unlocking opportunities that will make a meaningful difference in the early years of your entrepreneurial journey. This is a great first step towards many more to come.
Thank you for your service, and best of luck with your new venture!
Please do not hesitate to reach out to EGBI’s Business Coach and Veteran Services Coordinator Monica Perras at perras@egbi.org or call her directly 737-239-0221. A business coaching appointment is at no cost due to a contract with the City of Austin.
