In the current financial environment, access to capital is as much an issue today as it was in 1969 when the Minority Business Development Agency (MBDA) was established. For new businesses, especially those that are minority-owned, having access to working capital—which is used to keep operations going and to pay bills—could mean the difference between the success and failure of that business.
Other minority-owned firms need capital to fund their growth and,consequently, their ability to perform contracts. This financing could mean hundreds or even thousands of new jobs. And for other companies, primarily construction firms, capital is needed for bonding in order to fulfill contractual requirements. In fact, access to capital is one of the most important challenges business owners face.
It’s important to recognize that consumers are becoming more environmentally conscious. Eco-friendly practices may seem costly but can serve as a great investment for future growth in businesses as it reduces costs and creates happier customers.
Business.gov provides suggestions and information from fellow business owners as well as industry and government experts. Linked to the site, you can find a Green Business Guide that offers tons of tips on how to pursue and maintain a green business. Recommendations include how to reduce energy costs, how green technology develops energy efficient upgrades, what kinds tax credits there are to green technology developments, and more. By cutting down on expenses and becoming more consumer-friendly, your business can open up opportunities for growth.
Here are some links to get you started with your journey towards a greener business:
Save energy costs, find energy saving tips, and get information on incentives for making energy efficient upgrades. The guide can lead you to recommendations on cost savings, opportunities for energy efficient upgrades, steps towards sustainable business practices, and more.