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BUSINESS RESOURCE GUIDE for Entrepreneurs & Business Owners in Green River, Utah

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BUSINESS RESOURCE GUIDE for Entrepreneurs & Business Owners in Green River, Utah BUSINESS RESOURCE GUIDE For Entrepreneurs & Business Owners in Green River, Utah ACRONYMS BEAR—Business Expansion and Retention BRC—Business Resource Center EAG—Export Acceleration Grant EDA—Economic Development Administration EPA—Environmental Protection Agency GOED—Governor’s Office of Economic Development OJT—On the Job Training RBDG—Rural Business Development Grant RCAC—Rural Community Assistance Corporation RLF—Revolving Loan Fund SBA—Small Business Administration SBDC—Small Business Development Center SBIC—Small Business Investment Company SBLF—Small Business Lending Fund SCORE—Service Corps of Retired Executives STEP—State Trade and Expansion Program STTR—Small Business Technology Transfer Program TAP—Technology Acceleration Program USDA—United States Department of Agriculture VBOC—Veterans Business Outreach Center Business Resource Guide | Green River, Utah Page | i TABLE OF CONTENTS This Guide 1 About Green River 2 Coworking Space 3 Technical Assistance 4 Business Resource Centers 5 Technical Assistance 6 Networks 8 Accelerators 9 Funding Sources 10 Funding Databases 11 Government Grants 12 Private Grants 13 Post-Performance Grants & Tax Credits 15 Capital Investors 16 Government Loan Programs 19 Private Business Loan Providers 21 Crowdfunding 22 CONTACT CONAE BLACK ADAM HUGHES Green River City Administrator Better City 435-564-3448 801-332-9006 [email protected] [email protected] Business Resource Guide | Green River, Utah Page | ii This Guide THIS GUIDE This is a business resource guide for entrepreneurs and business owners in Green River, Utah. The information includes programs and organizations that provide technical assistance, networking, mentoring, and funding for businesses. It was compiled in 2020 by Better City, LLC. THE FUNDING CONTINUUM Seed / Startup Early Growth Exit Personal Equity Capital Equity Capital Cash Out Strategy Savings Angel Capital Venture Capital Mgt. Buy Back Credit Cards Venture Capital Corporate Venture ESOP IPO Second Mortgage Loans Loans Friends/Family Valuation Partner Bank Loans Microloans Equity Capital Microloans Bridge Loans Angel Capital Grants Mezzanine Funding Venture Capital Crowdfunding Loans Microloans Bridge Loans Crowdfunding Grants Crowdfunding $ 0 Cash Flow Cash Flow Relief Suppliers Funding sources typically available at Customers various business stages Owners Valuation Partners Declining Courtesy: Finance New Mexico Business Resource Guide | Green River, Utah Page | 01 About Green River ABOUT GREEN RIVER Green River is a small city in eastern Utah. It is in Emery County and has a population of about 950, with a suburban-rural type of community. The city often attracts people who are looking for acces- sibility to outdoor recreational activities and national parks. Most residents of Green River own their homes, with the median home value of $115,200 and a median rent of $476 well below the national averages. Green River is a part of the Emery School District, comprised of ten schools for kindergarten through high school; with a student to teacher ratio of 17:1. The City of Green River is best known for its recreational activities. The Green River is a major tributary of the Colorado River and provides opportunities for river running and rafting expeditions. There are many parks nearby, including Arches National Park (within 45 minutes), Canyonlands National Park (within 55-minutes), and Capitol Reef National Park (within 1.5 hours). Each of these parks is a prime destination for camping, hiking, river rafting, and much more. The City also hosts an annual Outlaw Day Event, Melon Days Festival, and Swell River Festival. Notable places to visit in & around Green River include: • Monument Hill • John Wesley Powell River History Museum • Crystal Geyser • Arches National Park • Canyonlands National Park • Capitol Reef National Park • Goblin Valley State Park • Green River State Park • Dead Horse Point State Park • San Rafael Swell • Fossil Point • Sego Canyon • Black Dragon Canyon Photo Credit: Tom Till • And much more... Business Resource Guide | Green River, Utah Page | 02 COWORKING SPACE Coworking space provides professional office space for individuals and small companies. The Utah Governor’s Office of Economic Development recently awarded the Southeastern Utah Busi- ness Technical Assistance Center grant funding to establish coworking space in Green River. The coworking space will be in the Green River branch of the Emery County Library System, and is anticipated to be completed in 2020. The site will include a coworking/business resource lounge, a separate entrance to the building for access during non-traditional business hours, Wi-Fi access, and copy and print capabilities. Good business planning is nine parts execution for every one part strategy. - Tim Berry - Business Resource Guide | Green River, Utah Page | 03 TECHNICAL ASSISTANCE Plan for what is dicult while it is easy, do what is great while it is small. - Sun Tzu - Business Resource Centers BUSINESS RESOURCE CENTERS Business owners and entrepreneurs benefit from technical assistance and business mentorship provided through Business Resource Centers (BRC). According to a survey by UPS , “88 percent of business owners with a mentor say that having one is invaluable… [and] 70 percent of small business owners that receive mentoring survive for five years or more, double the rate of those who do not receive mentoring.” Business Resource Centers provide services such as: • Business plan development; • Advice on all aspects of the business from start-up to exit strategies including marketing and sales, finance, operations, capital, management, and growth; • Training in business operations including finances, budgeting, cash management, negotiating, and how to work with government agencies; • Mentoring from successful business owners; • Support for manufacturing processes including facility layout and design as well as industry certifications; and • Technology entrepreneur services including support to propel ideas into products and services. Most BRC services are provided free-of-charge in association with the Small Business Adminis- tration (SBA) and they are sometimes referred to as a Small Business Development Center (SBDC). There may be costs associated with training and specific/customized business consul- tations. Contact the BRC for additional information on their services and any associated pricing. Many BRC locations also house additional resources, such as microloan organizations, business incubators, maker spaces, chambers of commerce, local economic development organizations and investors. Many BRC’s provide training on-site via an associated college or university. Nearby Business Resource Centers MOAB PRICE RICHFIELD USU San Juan Campus USU of Eastern Utah Snow College 125 West 200 South 420 N 300 E, 800 W 200 S Building B, Suite 123 Price, Utah 84501 Room 155W Moab, Utah 84532 Richfield, Utah 84701 435-259-7432 435-613-5443 435-893-2252 www.utahsbdc.org/moab/ www.utahsbdc.org/price/ www.utahsbdc.org/richfield/ Business Resource Guide | Green River, Utah Page | 05 Technical Assistance TECHNICAL ASSISTANCE There are a variety of organizations that offer technical assistance to businesses. In addition to the local BRCs on the prior page, the list below includes programs that provide entrepreneurs and business owners advice from experienced professionals and access to helpful information. All Businesses Small Businesses One Stop Utah Business Registration Goldman Sachs - 10,000 Small Businesses Utah provides all business registration information The 10,000 Small Businesses program advises small and forms through the One Stop Online Business business owners on how to become more bankable Registration website. and position themselves to access small business https://secure.utah.gov/osbr-demo/welcome funding and capital. www.10ksbapply.com/ Service Corps of Retired Executives (SCORE) A resource partner of the SBA, SCORE is the nation’s Rural Businesses largest network of volunteer expert business mentors. Business Expansion and Retention (BEAR) www.score.org The BEAR initiative reaches out to rural businesses and makes the connection between the company Economic Development Corporation of Utah and needed existing resources from all agencies, Assists companies with expansions and relocations. higher education, and other resources. Free consulting services; including research requests, www.business.utah.gov/rural/ site visit coordination, incentives, ground breaking and ribbon cuttings, and introduction to local partners. International Businesses www.edcutah.org U.S. Commercial Service Developed by international trade experts and Zions Bank Business Resource Center economists, Export.gov provides trusted market Helps business owners find answers and resources, intelligence, practical advice, and business tools to develop strategies, solve problems, and get guidance help U.S. companies expand in global markets. with business, marketing, sales, financing, https://www.trade.gov/export-solutions management, growth opportunities, and more. https://brc.zionsbank.com/ World Trade Center Utah Empowers Utah companies of all sizes with research Alice and resources for strategies to compete in the global A website that provides online guidance and economy. Their trade services team offers resources for entrepreneurs and small businesses. complimentary services such as international market https://helloalice.com/ research designed to help Utah businesses make informed decisions and establish meaningful connections.
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