SUSLA program receives economic development funding

The business incubator at Southern University, Shreveport, is one of several programs that will share more than $600,000 in funding. To help Louisiana small businesses thrive and become more competitive, Louisiana Economic Development (LED) has again allocated $608,000 for the Small and Emerging Business Development program. Across the state, local partners will assist participants, who pay for a portion of the costs themselves, with business planning, accounting, marketing, computer skills and entrepreneurship training, among other activities.

"Entrepreneurs and small businesses are the backbone of Louisiana's economy. Here in Louisiana we have nearly 140,000 businesses with fewer than 20 employees and more than 250,000 people are self-employed," said LED Secretary Michael J. Olivier.

"LED's Small and Emerging Business Development program can help these businesses become even more competitive and successful, especially in Louisiana’s growing economy." Last year, the program assisted more than 500 small and emerging businesses.

The following local partners were awarded contracts for the 2007-2008 contract year:

• Alexandria Metropolitan Foundation, Alexandria
• City of Baton Rouge/Parish of East Baton Rouge, Baton Rouge
• Louisiana State University Shreveport Small Business Development Center (SBDC), Shreveport
• Louisiana Tech University, Ruston
• Loyola University-New Orleans Entrepreneur Center, New Orleans
• Manufacturing Extension Partnership of Louisiana, Lafayette
• Microbusiness Enterprise Corporation of Ascension, Gonzales
• Northwestern State University SBDC, Alexandria
• South Louisiana Economic Council, Thibodaux
• Southwest Louisiana Partnership for Economic Development, Lake Charles
• Southern University Shreveport Small, Women and Minority Owned Business Incubator, Bossier City
• University of Louisiana at Lafayette SBDC, Lafayette
• University of Louisiana at Monroe SBDC, Monroe
• Urban League of Greater New Orleans, New Orleans
• Louisiana Minority Business Council, New Orleans

Beyond the business development assistance, those businesses who become SEBD certified are also eligible for the Bonding Assistance Program, receive additional loan guaranty support under the Louisiana Economic Development Corporation Loan Guaranty Program and are promoted to bid on selective product or service purchases by state agencies.

For more information on the SEBD program or to download an SEBD certification form, visit LouisianaForward.com/Entrepreneur