Pulling back curtain on getting capital to California small business
The "honor till" at Swanton Berry Farm. Swanton has an Employee Stock Ownership Plan, one of the ways to raise capital
featured in the CalFOR's report. (Photo Credit: AllAroundAndAwayWeGo via photobucket)
One of the ironies that we've learned is that capital badly needed for California small businesses is often available, but those looking for it don't know how to find. Help is on the way.
California's businesses and entrepreneurs need access to seed capital and working funds. Finding it is critical to getting the state’s economy back on track.
The California Financial Opportunities Roundtable (CalFOR), a group of over 90 experts and activists representing large banks, small financial institutions, wealth advisors, fund managers, the business community, and economic development organizations as well as local, state and federal government agencies, released its guidebook Access to Capital.
This document offers a one-stop-shop resource for anyone seeking capital, in a straightforward, easy to use format.
"I am proud to have been a part of this CalFOR effort along with many of our partners throughout the state," said Glenda Humiston, who is State Director for Rural Development for the U.S. Department of Agriculture. "We anticipate this guidebook will be a valuable tool to a very wide audience ranging from aspiring entrepreneurs and small business owners, to policy-makers and financial institutions."
CalFOR is part of a statewide initiative supporting development of regional industry clusters to provide jobs, entrepreneurial opportunities, and business growth to develop and maintain sustainable communities throughout California.
The report emphasizes that finding the money is important, but there is no single solution to creating jobs and improving business. It emphasizes that innovation and collaboration, regional support and infrastructure are critical if California businesses are to succeed.
Humiston, who was very active in the California Economic Summit, leads the Action Team working on the signature initiative that is concentrating on getting California businesses access to capital.
The Summit also has Action Teams working on how to improve innovation, increase investment in infrastructure, improve the state's water infrastructure, streamline regulations, reform the California Environmental Quality Act and improve the quality of the state's workforce.
Ms. Humiston will be contributing her thoughts to how this guidebook can help invigorate more business investment in the near future.