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Tuesday, October 14, 2014

Business Start-Up and Expansion Grant Offers the Best of Both Worlds for Small Businesses in Alabama

Virtual Entrepreneurship Center
A new program called the Business Start-Up and Expansion Grant offers Alabama small business owners, or those who want to start a business of their own, the best of both worlds. The program is designed to fund both start-up costs for new business owners, and expansion costs for existing businesses who want to grow.

The program is being offered by Alabama A&M, Auburn and Tuskegee Universities who formed The Virtual Entrepreneurship Center (VEC), an online entrepreneurship certification program. The certification program is required to complete before applying for a grant. The purpose of the certification program is to ensure that entrepreneurs develop the skills and knowledge needed in order to become successful entrepreneurs. The certification program is free and takes about one month to complete.

Once the certification program has been completed, applicants may apply for a grant. Micro-grants for start-up companies help entrepreneurs with capital costs, and expansion grants help entrepreneurs grow by helping with the purchase of additional equipment or supplies.

The grants will be offered twice a year. The Virtual Entrepreneurship Center (VEC) was developed to help boost the economic capacity of Alabama’s urban and underserved rural population. The idea of a virtual center is to enable everyone to gain access to its programs and services.

For more information on the Busiess Start-Up and Expansion Grant program, visit www.myvec.org/grant/index.php
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