“Entrepreneurship is at all time high in the state, and we recognize the need to develop innovative programs and offer dynamic services to help these growing companies every step of the way. Small businesses are job creators and the backbone of Kentucky’s economy” says Mandy Lambert, Interim Executive Director, Office of Enterpreneurship (Business Lexington).
“Small businesses are vital to Kentucky’s economy. In fact, more than 90 percent of the businesses in the Commonwealth have fewer than 50 employees.” – Kentucky Cabinet for Economic Development (thinkkentucky.com)
Some Statistics about Small Businesses in Kentucky:
- More than 90 percent of the businesses in the Commonwealth have fewer than 50 employees.
- Kentucky’s small businesses employed about half or 689,662 of the state’s private workforce in 2011.
- Small Businesses make up 96.5 percent of all employers in the state.
- Most small businesses are sole proprietors. Annual income from sole proprietorships increased 6.6 percent in the 3rd quarter of 2013 and totaled $11.5 billion.
- In 2011, there were an estimated 88,000 woman-owned businesses and 21,000 minority-owned businesses.
- In the 2nd quarter of 2013, 4,393 establishments opened and 3,871 closed in the state of Kentucky. (sba.gov)
Free Resources for Small Business Owners and Startups:
Kentucky Small Business Development Center at EKU: Serving central and southeastern Kentucky, the KSBDC is helping entrepreneurs’ dreams of owning a small business come true. They offer a variety of counseling, training, and information programs and services to existing and potential small business owners free of charge, and training workshops are offered at low to no cost.
- Jason Rainey, Director
- Email: email@example.com
- Phone: 859-622-1384
- Website: http://www.sbdc.eku.edu/
The Mountain Association for Community Economic Development (MACED) partners with local people to build upon the strengths of Kentucky and Central Appalachia. We create economic alternatives and strive to make Appalachian communities better places to live. They promote entrepreneurship and homegrown development. Central Appalachia needs more entrepreneurs and stronger enterprises that create employment, provide needed services and support engaged residents. MACED can help these entrepreneurs be successful by providing capital and technical assistance. Their Enterprise Development Program provides loans and technical assistance to develop entrepreneurs and strengthen small businesses and nonprofits.
- Address: 433 Chestnut Street, Berea, KY 40403
- Phone: 859-986-237
- Email: firstname.lastname@example.org
- Website: www.maced.org
Downtown Richmond Association is an organization that is dedicated to enhance downtown Richmond economic growth, the quality of life in our community by protecting, preserving and promoting historic Downtown Richmond as a great place to live, work and visit. If your business is located in the Downtown Richmond area or you’re looking to open a new downtown business, contact the DRA Coordinator, Rose Rex to get involved!
- Coordinator: Rose Rex
- Email: email@example.com
- Phone: (859) 559-0032
- Website: www.downtownrichmondassociation.com
Kentucky Innovation Network, part of the Office of Entrepreneurship, is comprised of 10 Innovation and Commercialization Centers (ICCs) and two satellite offices located strategically throughout the Commonwealth. They guide the Cabinet’s extensive resources for small and new businesses, as well as innovative and high-tech companies, through funding initiatives, marketing and sales assistance, small business advocacy and available resource referrals, along with a variety of financial and incentive programs to encourage new investment and job growth. All services are provided free of charge.
- Richmond Contact: Kristel Smith – Director
- Address: BTC 041 – 521 Lancaster Ave, Richmond, KY 40475.
- Work: (859) 622-8571
- Cell: (859) 582-5589
The Center for Economic Development, Entrepreneurship and Technology (CEDET), located in Eastern Kentucky University’s College of Business and Technology, provides assistance to businesses, organizations, industries, and communities to aid in their development.
- Ian Mooers, Executive Director CEDET
- Department: Center for Economic Develop (CEDET)
- Office: BTC 147
- Email: firstname.lastname@example.org
- Phone: 622-2383
- Website: http://www.cedet.eku.edu/
SCORE. SCORE provides free and confidential business counseling tailored to meet the needs of your small business and your personal objectives. The Lexington Kentucky Chapter also offers workshops, for a modest fee, for both start-up entrepreneurs and in-business small business owners.The Lexington Kentucky Chapter is comprised of more than twenty volunteers who provide guidance and counseling to entrepreneurs in the greater Lexington/Fayette County area, including Madison County KY.
- Website: http://lexington.score.org/
- Address: 389 Waller Avenue, Suite 130, Lexington, KY 40504
- Phone: (859) 231-9902
StartupMyWebsite.com: Nicole Mueller, of Startup Production, has been providing a free resource for small business owners since late 2012 through her blog at www.startupmywebsite.com. With articles on Search Engine Optimization, Social Media Marketing, the challenges and rewards of Entrepreneurship, Marketing Ideas & Innovations, she provides quality, original content on subjects that are current and pertinent to small business owners. Her company, Startup Production, in business since 1997, has been providing Web Design, Graphic Design and Internet marketing in Richmond, KY; Lexington KY, and surrounding counties, as well as for clients from NY to CA.
The Cabinet for Economic Development’s Office of Entrepreneurship: They hope to develop an entrepreneurial climate for new talent in Kentucky; provide guidance and support to startup operations statewide; assist existing small businesses with growth opportunities; and create a pipeline of business activity that can be streamlined with the traditional growth opportunities. They provide Free, one-to-one business consultation and referrals to federal, state, and local business programs and services designed to help small businesses start and expand operations and hire employees.
- Website: http://thinkkentucky.com/smbd/SMBB.aspx
- For more info, email (email@example.com) or call toll free 1-800-626-2250.
Paid Groups or Programs for Small Business Owners
Berea Chamber of Commerce: Founded in 1950 by leaders of Berea’s business community, the Berea Chamber of Commerce is a non-profit, membership driven organization with a rich heritage having served as a catalyst for community and economic development.
- Website: www.bereachamber.com/
Broadway Center, 204 N. Broadway, Suite 1, Berea , KY 40403
Richmond Chamber of Commerce: A top priority of 2014 is the creation and execution of an Economic Development Strategic Plan for Richmond and Madison County. The Chamber, along with the cities of Richmond and Berea, Madison County Fiscal Court, Eastern Kentucky University, Berea College and Madison County Schools seek to constantly grow business within our county, improve opportunities of employment, and enhance the partnership between education and business.
- Website: www.richmondchamber.com
- 201 East Main Street, Richmond, KY 40475
- (859) 623-1720
MBX, Madison Business Exchange: The Madison Business Exchange (MBX) was founded to develop profitable relationships for it’s membership by creating a venue of mutual respect for one another, and a commitment of excellence in order to provide the best possible products and services to the community.
- 336 Highland Park, Ste. 2; Richmond, KY 40475
BOM, Business Men of Madison County: BOM (Businessmen Of Madison) is a local Networking Group for Men serving all of Madison County to drive business to our members, founded in February 2014.
Small Business Support Consultants
Startup Production provides Web & Graphic Design, and Internet Marketing for small business owners. Startup Production in business since 1999, providing web & graphic design for small to medium sized businesses. Our portfolio speaks for itself … Quality work, custom sites, varied designs, exceptional functionality at an affordable price. They also provide Branding & Internet Marketing Consulting that provides strategies to expand & engage your target audience so you get your site seen and market your brand.
- (859) 624-1981
Leading Edge Focus, Business & Leadership Coaching: Their mission is to help busy, hard working leaders like you get laser focused on the things that matter so you, your team and your organization can achieve extraordinary success. Focus is one of the most powerful skills you as a leader can learn and use to achieve the success you desire.
Precision Accounts Bookkeeping & Accounting Services: Precision Accounts specializes in working with small to medium sized businesses while utilizing QuickBooks to provide accurate bookkeeping. With a certified QuickBooks Proadvisor for both desktop and online versions, Precision Accounts can do all of the accounting, train you, or provide QuickBooks help. They provide Quickbooks setup of your small business, consulting & training, and affordable bookkeeping packages.
- (859) 626-2229
*Here are some interesting statewide programs that may or may not apply to your small business: http://www.thinkkentucky.com/smallbusiness/busstart.aspx