THE SMALL BUSINESS INSTITUTE
The Small Business Institute (“The Institute”) is a program of the Industrial Development Board of the City of Minden. The Institute is a high quality educational and technical training program designed to educate and train would-be entrepreneurs on how to start their own business enterprise. It also provides training and educational opportunities to existing businesses.
The Institute is only open twice a year, summer and fall. Individuals seeking to participate in the program must apply to the Industrial Development Board. The Institute will only accept up to eight enrollees.
Program applicants that secure acceptance in the program will experience an eight-week training on small business development. After completing their training, program participants will be eligible to apply for a small business loan coordinated through the Consortium of Minden/Webster Parish, a private nonprofit economic development corporation. In addition, graduates will be eligible to obtain a grant to hire professional technical assistance in the areas of law, accounting, market research, and marketing, just to name a few.
As part of the application process, program applicants are encouraged to obtain sponsorships that will support the participant by paying their tuition fee. Sponsor(s) can be individuals, family members, for-profit businesses, churches and other types of nonprofit organizations. The cost of sponsorship is tax deductible for private for-profit entities.
Through intense instructional training, special projects, research and active assignment participation each enrollee will be challenged to address issues that will impact the success of their entrepreneurial venture. Upon completion of the training each program participant will have, as their diploma, their own specifically tailored business plan.
Tuition is $800. Scholarships up to $400 are easily available. 5/9/19
The deadline for enrollment is announced. Classes are held on Tuesdays and Thursdays from 5:30 pm to 8:30 pm at the Northwest Louisiana Technical College in Minden. If you interested in securing a scholarship, please indicate it on the application form by writing, “scholarship please.”
After graduating from the Institute you are eligible to receive a grant to pay for professional technical assistance such as an attorney, accountant, website site designer, etc. The grant will be 50% of the cost for the technical assistance up to $2,500. In addition, you are also eligible to be considered for a business loan up to five hundred thousand dollars ($500,000).
See us on Facebook at Minden Economic Development. While there join the group (Small Business Institute Group) and automatically receive a scholarship to the Institute.
An application form for the Small Business Institute is attached. Tuition is due in full with the submission of the application. You may mail in or email the completed application. Also attached is diagram that provides an overview of the entire process.
Phillip M. Smart
Director of Economic Development
Economic Development Department of the City of Minden
Office Phone: 318-377-2144 , ext. 257