Help for entrepreneurs

Entrepreneurs in Minnesota would have a web-based “one-stop shop” to find help starting and growing their businesses, if a bill sponsored by Rep. Julie Bunn (DFL-Lake Elmo) becomes law.

Bunn sponsors HF2839/ SF2758*, which would establish a Minnesota Entrepreneur Resource Virtual Network. The goal is to help business startups by providing them with access to technical assistance, grants and other support services available from both public and private sources.

The bill would build on an existing collaboration between the Department of Employment and Economic Development and the Minnesota Chamber of Commerce. Bunn said the current program, known as BusinessConnect, doesn’t go far enough in providing information relevant to starting a business. She envisions a website where people can not only find information on how to start a business, but also access the necessary forms and paperwork, find information on capital resources, and find organizations that can assist them in their goals.

“There’s tremendously different kinds of resources available in our state,” Bunn said — everything from technical assistance on accounting and legal issues to help with marketing and business plans.

Users for the site would range from someone with only a vague notion of starting their own company to an established employer looking for help with issues that are unique to their particular industry.

“There’s a number of regional nonprofits in the rural and outstate areas that do work in small business development — community development organizations, foundations, our technical colleges,” she said.

To keep the project from impacting the state’s current budget woes, the bill would ask DEED to seek private funding for the project. It also includes language that would require DEED to report back to the Legislature by Sept. 30, 2010, on progress made toward establishing the network.

The House Finance Committee approved the bill April 20 and sent it to the House floor. The Senate unanimously passed a slightly different version March 29. Sen. Terri Bonoff (DFL-Minnetonka) is the Senate sponsor.