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Support Initiatives Boosting Small Businesses in Pennsylvania

Small business owners in Pennsylvania take advantage of new support initiatives to grow their enterprises.

News Summary

Pennsylvania’s small businesses are benefiting from new support initiatives announced by the state’s Department of General Services. With over $1 billion allocated for small and diverse businesses, networking events, streamlined application processes, and resources like the Global Access Program, the state is committed to fostering a thriving business environment. This support includes expedited payments for certified small diverse businesses and innovative healthcare solutions to assist entrepreneurship. Pennsylvania’s commitment to diversity and support promises to create a brighter future for local business owners.

Exciting Times for Small Businesses in Pennsylvania!

In the bustling streets of Pennsylvania, small business owners are busy buzzing about some fantastic support initiatives rolling out from the state’s Department of General Services (DGS) and other programs. If you’re part of a small business, especially those certified as small diverse or veteran-owned, you might just be sitting on a goldmine of resources and help!

Big Bucks for Small Businesses

Did you know that just this February, the Shapiro administration announced they had spent over $1 billion with small businesses? This includes not just small enterprises, but also those small diverse businesses and veteran-owned businesses. That’s right! The state is putting a spotlight on those who have often been overlooked. Just think about the extra boost this can provide in these competitive times!

Networking and Education Opportunities

Small businesses looking to grow and connect should definitely check out the events organized by the state. One of the recent highlights is the Small Business Empowerment Summit, where over 400 enthusiastic attendees gathered. At such events, entrepreneurs can dive deep into resources that support their daily operations, including the incredible Mentor-Protégé Program, designed specifically to ease the procurement process for small businesses.

Streamlined Processes for Less Stress

Thanks to Governor Shapiro’s Executive Order 2023-18, there’s an even greater push to prioritize small and diverse businesses in state contracting. This means the application process is becoming smoother, and the government is committed to prompt payment to ensure these businesses don’t face unnecessary cash-flow challenges. And if you’re certified as a small diverse business, you can expect some real perks! There’s an expedited payment process where prime contractors must pay subcontractors within just 10 days.

Comprehensive Support Programs

Wondering how to qualify as a certified small diverse business? It’s relatively straightforward! A business can qualify if it has 100 or fewer employees and earns an average of less than $47 million in revenue over three years. Furthermore, these businesses must be primarily owned by women, minorities, individuals with disabilities, LGBTQ individuals, or specific veterans to gain that coveted certification.

Global Access Program for Expanding Horizons

For small businesses looking to spread their wings beyond local borders, there’s the Global Access Program – and it’s packed with resources! With an investment of $800,000 aimed at supporting small businesses in exporting their products, this program helps with everything from translation services to costs associated with trade shows and finding customers abroad. Plus, they cover up to 75% of certain expenses. Talk about a powerful push into the global marketplace!

Connecting and Collaborating

Local business owners like Suzanne Curran and Leland Nelson have shared how invaluable these summits have been for tapping into state resources and networking with others in the community. The commitment from the commonwealth to engage actively with small and diverse businesses stands strong, even amidst national discussions that lean towards reducing diversity initiatives.

Affordable Healthcare Options

As the costs of healthcare continue to rise, many small businesses are looking for creative solutions. One popular alternative gaining traction is Health Reimbursement Arrangements (HRAs), as traditional health coverage becomes costlier. With the percentage of employer-sponsored health insurance dropping from 47.2% in 2000 to 30.1% in 2023, small business owners are exploring every possible avenue to provide affordable healthcare options for their employees.

Final Thoughts

With all the resources and support available, Pennsylvania’s small businesses are in a prime position to thrive and expand. The state’s commitment to fostering a diverse business community allows these enterprises to innovate, connect, and survive—making the road ahead not just bright, but paved with golden opportunities!