Partnership Gives Boost to Local Small Businesses

A partnership between two Fox Valley business specialists for start-ups is giving a leg up to small companies that want to grow.

The Illinois Small Business Development Center at Waubonsee Community College and the Fox Valley Entrepreneurship Center are working together to give entrepreneurs an opportunity to access critical business advice they otherwise might not be able to afford.

“We’re working to help businesses that have already got some growth under their belt and are ready to take the next growth step and hire some people or add on to their business,” said Harriet Parker, manager of the Illinois SBDC at Waubonsee Community College.

The program is funded through a grant from the U.S. Small Business Association Small Business Jobs Act.

Through the program, a Fox Valley Entrepreneurship Center panel will review submissions, followed by a brief interview. Those companies making the cut will then be invited to pitch their business needs and growth opportunities.

The first round of companies selected will receive hands-on assistance and consulting services to strengthen their businesses in areas like technology, financing, marketing, strategic business planning and human resources.

Parker said start-up companies can sometimes fall through the cracks.

“They don’t perceive some of the entrepreneurial resources that are going to be able to help them but they’re also still too small to pay for some of the consulting services they might need,” she said. “This is a way for those businesses to get a boost and help them grow to the next stage.”

The Illinois Small Business Development Center at Waubonsee Community College and the Fox Valley Entrepreneurship Center are already working a handful of area businesses.

“In one case we’re helping a company fine tune their investor pitch and be more prepared to go in front of investor groups,” Parker said. “With another company we’re helping with fairly in-depth stragetic planning. They’re branching off into a new area of business and they need some market research to make sure that new aspect of the business is going to produce what they need.”

For more information about the initiative, visit www.fvec.org.