Minneapolis boasts a vibrant entrepreneurial ecosystem, offering a wealth of resources to support small business owners and aspiring entrepreneurs. Whether you’re in the planning stages or looking to expand, the city provides numerous programs and organizations dedicated to fostering business success.
City of Minneapolis Initiatives
The City of Minneapolis offers comprehensive assistance through its Business Technical Assistance Program (B-TAP). This program connects entrepreneurs with free consulting services, covering areas such as business planning, marketing strategies, and financial management. B-TAP aims to support the development of businesses, particularly those owned by minorities, women, and low-income individuals. More information is available on the city’s official website.
In response to challenges faced by local businesses, the city established the Small Business Resiliency Fund. This $7 million fund provides license fee relief, free event permits, consulting services, and marketing support to help businesses stabilize and attract customers. Details about the fund can be found here.
Nonprofit Support Organizations
Several nonprofit organizations in Minneapolis are dedicated to supporting entrepreneurs:
Northside Economic Opportunity Network (NEON)
NEON focuses on building wealth for low-to-moderate income entrepreneurs in North Minneapolis. They offer free technical support, business development services, and access to commercial kitchen spaces for food-based businesses. Learn more about NEON’s programs on their website.
NextStage
NextStage provides customized support for entrepreneurs at every stage of business development. Their services include assistance with business planning, entity selection, licensing, and access to financing. NextStage’s offerings are available at no cost to residents and businesses in Minneapolis. Further details can be found here.
Impact Hub Minneapolis-Saint Paul
Impact Hub MSP is part of a global network focused on building entrepreneurial communities for social impact. They offer shared workspace, training opportunities, one-on-one coaching, and curated events to connect entrepreneurs and innovators. Explore their programs and membership options on their website.
Additional Resources
For those interested in cooperative business models, the city’s Cooperative Technical Assistance Program (C-TAP) provides support for emerging cooperatives, including consulting services and feasibility training. More information is available here.
Entrepreneurs seeking to become real estate developers can benefit from the Developers Technical Assistance Program (D-TAP), which offers classes, workshops, and project advice for small and emerging developers. Details about D-TAP can be found on the city’s website.
By leveraging these resources, Minneapolis entrepreneurs can access the support and guidance needed to navigate the challenges of starting and growing a business, contributing to the city’s dynamic and diverse economic landscape.