You have a great idea. How can you turn it into a great business?
Maybe you already have started a business but need help to make it grow.
We can help! Here are some options:
Are you an entrepreneur? We have you covered.
Regional Innovation for Startups and Entrepreneurs (RISE)
RISE creates a 21st century environment for entrepreneurship and innovation to flourish across the state by establishing regional hubs that provide a full range of services for high-growth startups throughout a business lifespan, more opportunities and connections for investors and those seeking investment and deep connectivity between entrepreneurs and public and private resources.
Has your small business hired at least one new full-time position? Have you invested in qualifying equipment?
Kentucky Small Business Tax Credit (KSBTC)
The Kentucky Small Business Tax Credit (KSBTC) program offers between $3,500 and $25,000 per year for small businesses that have hired and sustained at least one new job in the last year and purchased at least $5,000 in qualifying equipment or technology.
How do I know if my business is eligible?
- Most businesses with 50 or fewer full-time employees in nearly all industry segments are eligible
- Applies to state tax return for the year it was awarded
- The new employee must earn at a minimum $10.88 hourly
Want to assume less risk on your loan?
Kentucky Small Business Credit Initiative (KSBCI)
Kentucky Small Business Credit Initiative (KSBCI) enables approved lenders to finance applicable small business credit requests. This credit enhancement increases your ability to underwrite the loan and assume less risk as a result. One of these loans could result in Kentucky’s next successful business, ultimately creating new opportunities and jobs for residents. Many participating loans might also be eligible to receive Community Reinvestment Act (CRA).
Looking for one-on-one consulting and workshops to assist you in planning, acquisition or expansion?
Small business assistance across the state (SBDC)SBDC
Kentucky Small Business Development Centers (KSBDC):
We work in collaboration with the 13 offices of the Kentucky Small Business Development Center. While KY Innovation connects entrepreneurs to the resources they need to grow their companies, KSBDC also offers valuable one-on-one consulting, workshops and other services for all of Kentucky’s small businesses. This allows entrepreneurs to make informed decisions when planning a new business, acquiring an existing business or expanding an established business.
Is your business engaged in manufacturing, agribusiness, or service and technology? Need assistance acquiring land, equipment, or working capital?
Small Business Loans: For a small business to remain competitive today, particularly one in the manufacturing, agribusiness or service and technology fields must update or purchase equipment.
- Business must have 50 or fewer employees
- One new fulltime job must be created by the business within one year of the loan closing
- Loans range from $15,000 – $100,000
- The loan can be used for up to 100% of the project costs or be used in conjunction with other lenders
- Loan terms range from 3-10 years
Are you an inspiring entrepreneur or have one at home who can’t wait until school’s out to start their business?
Kentucky is building its innovation ecosystem from the ground up by educating and inspiring the next generation of entrepreneurs through a progressive curriculum and rapidly expanding network of programming.Governor’s School for Entrepreneurs