Many tools are already in place to help small businesses find the assistance they need. This includes capital, small business loans, tax credits and SBIR/STTR Matching Funds:
Outlined below are some of those tools.
Kentucky Small Business Development Center
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.
Kentucky Small Business Tax Credit
If your small business has hired at least one new full-time position and invested in qualifying equipment, you could be eligible for a tax credit.
Through the Kentucky Export Initiative, small businesses can receive STEP grant funding for export-related activities each year.
Kentucky Small Business Credit Initiative
This federally funded lending support program helps lenders finance creditworthy small businesses that would typically fall just outside of their normal lending guidelines.
Small Business Loans
Small business engaged in manufacturing, agribusiness, or service and technology may be eligible for loans to acquire land and buildings, purchase and install equipment, or for working capital.
Investors throughout Kentucky are eager to foster the growth of small businesses. The Cabinet has compiled information for investors, as well as lists of prospective investors.
Angel Investment Tax Credit
The Kentucky Angel Investment Tax Credit offers tax credits of up to 50 percent of an investment in Kentucky small businesses.
Kentucky Investment Fund Act
The Kentucky Investment Fund Act offers a 40 percent tax credit to certain personal and corporate investors in approved investment funds.
SBIR-STTR Matching Funds Program
The Cabinet will match, on a competitive basis, Phase 1 and Phase 2 federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) awards received by Kentucky high-tech small businesses and those willing to become Kentucky-based businesses.
Other Opportunities for Businesses
Click below for a full list of Kentucky business incentives.