Small businesses create jobs, nurture new ideas and give the community character, but they need planning and technical support to endure. Although many employees work for large companies,  King County is home to nearly 60,000 small businesses that make up a uniquely local and essential part of the economy. They tailor services to the community, handpick stock and offer craftsmanship not always found elsewhere. They serve as starting points for high-tech and other new ideas. They give entrepreneurs a chance at leadership and self-sufficiency (family-run small businesses have particular appeal for many immigrants and refugees). But many would-be entrepreneurs don’t know where to begin or lack access to capital. Those that do get started often struggle with finances and organization. On average, their employees receive less generous benefits than those who work for larger employers. Small businesses often compete with larger companies, which usually have more marketing power and other capacity, as well as the buying power to command lower supply prices.
- Support programs that successfully connect business resources and capital to entrepreneurs from underserved communities, such as people of color or women.
- Provide workshops and technical assistance on starting a small business through faith, ethnic or neighborhood communities.
- Develop leadership, business planning and management capacity at existing small businesses or organizations.
- Supply small amounts of capital (less than $5,000) to help people start a business, or help build assets through Individual Development Accounts or the Earned Income Tax Credit.
- Encourage people to shop within walking or biking distance of home, since many small businesses rely on neighborhood patrons.
- The Cascadia Revolving Fund provides loans to undersupported small businesses and nonprofits. Over the past two decades, its $32 million in loans have helped create and preserve more than 1,500 jobs.
- The Bellevue Entrepreneur Center, a collaboration among government, business and academic partners, provides small-business development services to the community's growing minority and immigrant population.
- Washington Technology Center provides critical training and services to companies, entrepreneurs and investors to help expand technological innovation and economic growth in Washington state.
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