By Jim Baer
Estimates reveal there are presently 60,000 small businesses in the St. Louis region with 20 or fewer employees and there are 5,000 new start-ups each year.
To assist local entrepreneurs in their new business pursuit, a free online resource, www.StLSourceLink.com, has been launched to link small businesses with area non-profit services eager to provide them with business-building programs and services. The intent is to help small businesses across the bi-state St. Louis region grow and succeed, while advancing the area as a leader in entrepreneurship and innovation.
Frank Stokes, CEO of Innovate St. Louis, a founding partner of this initiative, notes that the need for this resource is significant. “When someone wants to start a new business, there’s nothing listed in the Yellow Pages under ‘entrepreneurship’ or ‘small business’ as places to go for help.” says Stokes. The fact is there are many business building organizations in the region (estimates are in the 100+ range) that are poised to assist entrepreneurs. This is the strength of StLSourceLink — entrepreneurs can easily learn about these organizations and quickly determine which organizations can best address their current needs — connecting the business owner to the right resource at the right time.
After looking at various initiatives across the country, Stokes felt that award-winning Kansas City SourceLink, a project initially funded by the Ewing Marion Kauffman Foundation, was the best model to implement in St. Louis. (MOSourceLink, a statewide version, also has recently launched.)
St. Louis SourceLink simply and conveniently connects aspiring, emerging and established small businesses to a wide network of resource organizations in the bi-state region. There are no costs to business owners or non-profits participating.
A key component of the site is the Resource Navigator, through which users submit information about their current business needs. The system researches available resources to match those needs, and directs the user to appropriate resource organizations. Users also have access to a toll-free, daytime call center at (866) 870-6500
to connect with representatives who can answer questions and also connect them to local resources.
Since the soft launch in September, over 50 business assistance programs have become resource partners. These include business incubators, small business associations,
St. Louis city and surrounding counties business assistance groups, Grace Hill Women’s Business Center, Minority Business Enterprise Center, Hispanic Chamber of Commerce, Veteran’s Business Resource Center, World Trade Center Saint Louis and more. StLSourceLink also includes a comprehensive list of local universities, colleges, and junior colleges offering affordable business classes and a calendar of community events designed for entrepreneurs and small business owners.
The various resource partners offer specialized services in a range of areas, including business planning and training, government procurement, import/export, legal issues, research, life sciences, technology, minority and women’s business assistance, permits, regulations and more. In addition, users gain access to a comprehensive directory, library and various portals relating to entrepreneurial topics.
“We find in some cases, new business entrepreneurs are not aware of the services in our community that are available to assist with their business questions,” reveals Stokes. “They often seek out the help of family or friends, and while they can likely offer assistance and advice, it might not be the actual help needed,” he says.
St. Louis SourceLink’s overall goal is efficiently directing an entrepreneur to the right resources that will help their business to grow.
Mergers, acquisitions, outsourcing and plant closings have changed the business landscape dramatically the past few years. Leaders at RCGA and Innovate St. Louis have clearly seen the pressing need and shift towards small business development.
Kevin Wilson, regional director for the University of Missouri Extension: Small Business Development Center located in the Empowerment Zone, knows a lot about small business development.
“It’s vital for small businesses to partner with non-profit expertise to gain access to tools and information to help their businesses grow. It has worked very well for five years in Kansas City and we are hopeful that St. Louis SourceLink will be a valuable asset here,” he says.
Wilson, who has worked for the University of Missouri Extension: Small Business Development Center for eight years and previously worked in the St. Louis Development Corporation, says this is a logical evolutionary business step towards further development in the region. “When someone starts up a new business, it’s only logical they will turn to the Internet first. What we’ve launched, in essence, is a Google (website) for small business development.”
Wilson also highlighted specific education resources promoted through the website. “We always urge entrepreneurs to take part in classroom education and further their knowledge, before even getting started,”
he notes.
Through Missouri Extension and other entrepreneurial classroom courses at many local universities and community colleges, business owners can learn the ABC’s of development for as little as $300 a course. “They can even take free on-line courses through the University of Missouri Extension program,” Wilson says. The website includes a ClassLink, through which users can browse a range of upcoming courses.
Wilson also pointed out that there are presently 10 to 12 business incubators in the region all poised for further business development. He envisions that StLSourceLink will become a virtual 13th, essentially an incubator without walls.
St. Louis SourceLink is offering this service at no cost thanks to Ameren Economic Development Corporation, Edward Jones and the Bickel Family Charitable Foundation, as well as through the support of founding partners Innovate St. Louis, Missouri Technology Corporation, and the Missouri Small Business & Technology Development Center.
Growth is the immediate goal for this effort. “We have 50 non-profit partners already helping our local businesses develop, and we’d like to see that number double in the next six months,” says Stokes.
All parties involved believe St. Louis is a great place to both start and grow a business. “We really want to keep our community growing and maintain a pipeline of small businesses. We’re taking a holistic view of the situation in order for our region to become even more successful,” says Stokes.
St. Louis SourceLink is ready to help entrepreneurs make this happen.
Note: The St. Louis SourceLink web site is www.stlsourcelink.com and the hotline number is (866) 870-6500. |
