Uncle Sam wants small business entrepreneurs to lead the nation to economic recovery–and has billions of dollars to make it happen. Small business owners are in line to receive low-interest loans and government contracts through the American Recovery and Reinvestment Act (ARRA). To secure your little corner of the recovery, you’ll need to be at the right place with the right business plan.
A Roadmap For Recovery
Stimulus dollars are headed toward businesses that support these Recovery Act goals:
- Healthcare: Modernize the healthcare system with electronic medical records systems.
- Energy: Promote solar power, renewable energy, smart grids and develop domestic energy sources
- Green Building: Build energy-efficient homes and public buildings
- Science and Technology: Promote scientific research and innovation
- Transportation: Upgrade the transportation infrastructure with new roads, bridges, and mass transit systems
- Education: Improve public schools and job training
The Recovery Act envisions a smarter, more efficient, more productive future. If your small business plan can move the nation forward, you’re a step closer to winning Uncle Sam’s financing and support.
Ten Best Cities to Stage an Economic Revival
Location is the other piece of the stimulus puzzle. To ensure that funding reflects local priorities, the White House is leaving ground-level decisions to state and local authorities. Winning the funding game is a matter of finding the right combination of business plan and place.
The following cities are leading the economic revival in their recovery sectors:
With the highest per capita spending across all industries, Washington, D.C. offers the broadest scope of recovery-funded business opportunities. For funding in education, healthcare, construction, urban development, criminal justice, and the arts, look inside the beltway.
Innovative entrepreneurs will find fertile ground for their ideas in Boston. Ranking third in Popular Science‘s list of ‘America’s Greenest Cities,’ Boston is putting its recovery money toward clean-energy initiatives. Partner with local R&D brainpower to start your own clean-energy venture. Equipment leasing and a government grant can help you secure the lab facilities and scientific talent to get the ball rolling.
With the auto industry and heavy manufacturing in decline, Detroit is using its stimulus dollars to combat soaring unemployment. Help the city’s manufacturing workforce transition to the information economy with a placement service. Your federal small business loan can fund a call center and answering service, linking local talent to employers nationwide.
Alaska’s military funding amounts to $313 per person, twice that of the next highest recipient, Hawaii; by contrast, most states spend $20 or less per person on military contracts. Take advantage of the military spending with a civil construction company. Equipment leasing can help you gear up for construction projects on Anchorage’s two active military bases.
Charleston, South Carolina
Charleston, SC is among the nation’s funding leaders for green building ventures. “Greening” federal buildings is a focus of the recovery effort in hurricane-prone Charleston. A green business specializing in the retrofit of federal buildings has great potential to win Uncle Sam’s support.
Providence’s major hospitals make the city a hospitable environment for healthcare stimulus funding. Capture those dollars with an electronic medical records business. E-commerce solutions offer a low-cost storefront from which to launch your electronic medical records venture.
New York, NY
With the financial sector reeling, New York is counting on technological innovation to save the day. Specifically, the state is pinning its hopes on small business, with a portion of federal R&D funds “set aside for small business to develop and commercialize innovative technology.” You don’t need to be a scientist to benefit from science money. A content writing service, for example, plays a valuable support role in product development. To get started, market your services online with a SEO friendly Website design.
Wyoming ranks number one in per-capita stimulus funding for the arts. Set up your own art studio in Wyoming’s art capital, Cheyenne. Then expand your following with a world-class Web design. Internet Marketig tools such as pay-per-click (PPC), social media marekting can help you represent artists from Cheyenne to China.
Jersey City, NJ
New Jersey is putting its money on the state’s public infrastructure, leading the nation in per-capita funding for transportation. Win a highway repaving contract, rent equipment through a leasing program, and play your part in rebuilding the country–one mile at a time.
If your specialty is education, head to Jackson, MS. Mississippi is throwing a lifeline to its K-12 education system. Tap into funds earmarked for improving educational standards by setting up a standardized testing service for Jackson’s public schools.
The White House is looking for a few good entrepreneurs to lead the nation out of economic slump. Between expanded Small Business loan programs and Recovery Act contracts, Uncle Sam is there to help your business succeed.