Start-up Business

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Across the nation crowd-funding is enabling entrepreneurs and dreamers to bring their ideas to fruition by allowing start-ups to get help from other individuals and businesses.

And as of July 31st, Virginia has been allowing crowd-funding offerings-but in order to protect investors, the State Corporation Commission is implementing new regulations.
 

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What's the definition of a small business? About a dozen stakeholder organizations along with Virginia's Secretary of Commerce are in the process of redefining what it means in the Commonwealth. 

The redefinition could affect the eligibility of many companies to compete for state contracts or participate in some financial assistance programs.  The task force is the result of legislation passed earlier this year, which was sponsored by Northern Virginia Delegate Alfonso Lopez.

 About half the private sector jobs in this country are in small businesses. Women comprise a third of small business owners nationwide.  But in Floyd Virginia, where county officials held a contest for the best new small business plans, 100% of the winners were women. 

In parts 1 and 2 of this report, you met some of them. Today we meet the others.

More from Floyd's Kinder, Gentler Shark Tank

Jun 25, 2015

 Small, rural communities can have a tough time attracting large employers; so some are looking to spur local business development from the ground up. In Floyd, Virginia, they held a competition offering prizes for the best business plans.

Yesterday we heard from the first place winner, who’ll now be able to take her natural and organic body care products to the next level. 

Today, in part 2 of our series….we meet the second place winner with another home grown business idea. 

A Kinder, Gentler Shark Tank

Jun 23, 2015

Lots of people dream of starting their own businesses. But how many of those table  top discussions actually go on to the next phase?  Taking a cue from the popularity of the “Shark Tank” TV show, spin-off tanks are springing up.  Communities are  using them to help launch local businesses in Virginia. 

If TV’s Shark Tank is for the big fish, Floyd’s was more like a school of small fish.  Instead of venture capitalists looking to invest it was area economic development experts doing the judging.

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