Minneapolis boasts a vibrant entrepreneurial ecosystem, offering a wealth of resources to support small business owners and aspiring entrepreneurs. Whether you’re launching a new venture or seeking to expand an existing business, the city provides numerous programs and organizations dedicated to fostering success.
City of Minneapolis Business Assistance
The City of Minneapolis offers comprehensive support through its Business Technical Assistance Program (B-TAP). This initiative connects entrepreneurs with free consulting services, covering areas such as business plan development, licensing, compliance, and financial management. Additionally, the city provides guidance on starting cooperatives and offers resources for real estate developers through the Cooperative Technical Assistance Program (C-TAP) and Developers Technical Assistance Program (D-TAP).
Northside Economic Opportunity Network (NEON)
NEON focuses on building wealth for low- to moderate-income entrepreneurs in North Minneapolis. Since 2006, NEON has provided free technical support, including trainings, workshops, business development assistance, and access to commercial kitchen spaces for food-related businesses. Their efforts have led to the launch of numerous new businesses and the disbursement of significant loan amounts to small enterprises.
NextStage
NextStage is a nonprofit organization dedicated to supporting entrepreneurs at every stage of their business journey. They offer customized, direct assistance and practical solutions for both new and existing businesses. Services include help with business planning, entity selection, licensing, compliance, and access to financing options. NextStage’s business advising services are available at no cost to participating entrepreneurs, thanks to support from public sector partners.
Impact Hub Minneapolis
Impact Hub Minneapolis provides a supportive network that connects innovators to each other and to entrepreneurial support organizations. They offer various programs, including free business coaching, communities of practice, social startup accelerators, and internship programs connecting students to small social businesses. Membership grants access to a global community of purpose-driven founders and resources designed to grow businesses and increase impact.
Small Business Resiliency Fund
In response to challenges faced by small businesses, the City of Minneapolis established the Small Business Resiliency Fund. This $7 million fund aims to support businesses impacted by events such as Operation Metro Surge, providing license fee relief, support for events and activations in commercial areas, cultural market grants, and more. The initiative seeks to help businesses restabilize, rebuild, and come back stronger.
By leveraging these resources, Minneapolis entrepreneurs can access the support and guidance necessary to navigate the complexities of starting and growing a business, contributing to the city’s dynamic and diverse economic landscape.