Help for Home-Based Businesses in New York

More than half of small businesses in the U.S. operate from the owner's home, according to the Small Business Administration. Major corporations, such as Apple, Inc. and Mary Kay Cosmetics, began in a home environment. But for many business owners, growth relies on obtaining training, financing, and other resources. New York state provides several resources for legally-registered home-based businesses.

Training Programs

New York state offers a number of small business training resources. The New York State Small Business Development Center (SBDC) manages several training program listings, including workshops and other training opportunities. Topics include financing, marketing, legal structures, networking, and start-ups. Upcoming workshops are listed at the SBDC's website (see Resources).

Special Populations

Small businesses determined to be part of special groups qualify for a number of resources. Veterans, women-owned businesses, and minority business owners qualify for assistance. For example, veterans can contact the New York State SBDC for assistance with business plans, business assessments, one-on-one counseling, and locating funding sources. Business owners can also contact the New York Small Business Administration office for additional assistance with government contracting, counseling, and financial assistance. Women-owned businesses can contact their Empire State Development Regional Office for assistance with obtaining the Minority- and Women-Owned Business Enterprise (MWBE) State certification. Certification provides additional opportunities for funding sources and training.

Advising

Business advising can help business owners avoid costly mistakes. Learning about issues, such as the marketability of a product or service, before launching a business can make a difference. New York's SBDC offers advice on structuring a business, licensing, and general business contracts. The SBDC also works closely with individuals seeking start-up advice.

Funding

The New York Business Development Corporation (NYBDC) provides loans to businesses that need working capital. The organization offers loans repayable over five to seven years. Loan amounts range between $50,000 and $1,500,000. Business owners who are unable to receive traditional bank financing can apply for the micro-loan program offered by the NYBDC. Eligible businesses can receive $50,000 to $150,000. Business owners can also contact the New York City Economic Development Corp. for access to capital and tax incentives.

References

• Small Business Administration: Home Based Business
• Empire State Development: Information and Resources for Small Businesses
• New York Business Development Corporation: Loans for Working Capital
• New York City Economic Development Corp.: Supporting Your Business
• New York Business Development Corporation: Microloans

Resources

• New York State Small Business Development Center: Training