January 2025

The Federal Reserve Bank of Minneapolis relies on survey responses from local businesses to assess real-time economic conditions. Be HEARD!

Unlock Business Growth: Explore Financing Programs from MN DEED



The Minnesota Department of Employment and Economic Development (DEED) offers a variety of financing programs to support business growth and economic development in the state.

Here's an overview of some key programs:

Minnesota Job Creation Fund

Provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets.

Minnesota Investment Fund

Offers loans to assist companies with expansion and new location projects, focusing on industrial, manufacturing, and technology-related industries.

Emerging Entrepreneur Loan Program

Supports the growth of businesses owned by minorities, women, veterans, and individuals with disabilities by offering loans for start-up and expansion costs.

Angel Loan Fund

Provides funding to early-stage businesses that have received angel investment, aiming to support high-tech startups and entrepreneurs.

State Small Business Credit Initiative (SSBCI)

Offers various programs to increase access to capital for small businesses, including loan guarantees and venture capital investments.

Facilitating Business Transitions: Insights on Employee Ownership

Ensuring the longevity of local businesses is crucial for community stability and economic growth. The Golden Shovel Agency is hosting a webinar titled "Supporting Local Business Transitions: How Economic Developers Can Facilitate Employee Ownership Sales."

When: Wednesday, January 29, 2025, at 11:00 AM CST.

This session will delve into the advantages of employee ownership and the pivotal role economic developers play in this transition. Key discussion points include:

• Economic and community benefits of employee ownership, such as retaining customer goodwill and ensuring business continuity.
• Strategies for structuring and financing employee buyouts suitable for small businesses.
• Guidance on how economic developers can support business owners throughout the transition process.

The panel features experts like Sarah McBroom from Project Equity, Sam Brownell of Stratus Wealth Advisors, Mark Fick from Shared Capital, and Don Quinn of Quinn Patton.

North Central Small Business Development Center Workshops | Spring Lineup

As you look ahead and beginning planning for you personal and team's learning onjectives for the new year, consider marking your calendar for the following offerings.

AI for Small Business: This interactive session introduces business owners to the transformative potential of artificial intelligence. Participants will learn practical applications to enhance customer service, streamline operations, and improve marketing efforts. The workshop is tailored for attendees of all technical backgrounds, equipping them with AI-driven solutions for everyday business challenges. Dates and locations include:

• January 14^th | Central Lakes College Brainerd Campus | 8:30AM-10:30AM

• January 28^th | Minnesota State Wadena Campus | 5:30PM-7:30PM

• April 3^rd | Chisago County HRA-EDA Office | 12:00PM-2:00PM

• April 10^th | Pine County Courthouse | 12:00PM-2:00PM

Grow with Google: This is a hands-on workshop focused on leveraging Google’s powerful suite of tools to boost online presence and productivity. Attendees will explore Google Business Profiles, online advertising strategies with Google Ads, data-driven insights from Google Analytics, and streamlined operations with Google Workspace. This session empowers participants to expand their digital footprint and connect with customers effectively. Dates and locations include:

• March 4^th | Central Lakes College Brainerd Campus | 8:30AM-10:30AM

• March 27^th | Minnesota State Wadena Campus | 5:30PM-7:30PM

Buying a Business Basics: This workshop offers first-time buyers essential guidance on acquiring a business. Topics include evaluating opportunities, financing options, due diligence, and key negotiation tactics. Through expert insights and interactive exercises, participants will develop the confidence to make informed decisions and navigate the complexities of business ownership. Dates and locations include:

• February 13^th | Central Lakes College Brainerd Campus | 8:30AM-10:30AM

• February 20^th | Minnesota State Wadena Campus | 5:30PM-7:30PM

To learn more and to register, please visit www.ifound.org/trainings.

Business Education Through SCORE

The wealth of content available when starting or growing a business can be overwhelming, especially as you deal with so many areas of development from finance to marketing to legal and business formation issues.

• Jan 23: A Basic QuickBooks Guide For Small Business Owners

• Jan 28: 2025 Hottest Business Ideas, Trends & Markets

• Feb. 4: Email Marketing Strategies to Boost Your Business Growth

• Feb 11: Strategies and Tips for Outsourcing for Small Business Owners