Introduction
Idaho’s economy thrives on the vitality of its small businesses, which constitute a significant portion of the state’s economic landscape. As of 2023, small businesses account for 99.2% of all businesses in Idaho, employing 56.4% of the state’s workforce. (advocacy.sba.gov) This guide provides an overview of the support programs available to small businesses in Idaho, including resources, funding opportunities, and assistance programs designed to foster growth and success.
Statewide Support Programs
Idaho Small Business Development Center (SBDC)
The Idaho SBDC offers no-cost, confidential consulting and low-cost training to entrepreneurs across the state. With six regional centers and two business accelerators, the SBDC provides services such as business planning, marketing strategies, financial analysis, and assistance with government contracting. Their mission is to empower small business success by offering personalized support tailored to individual business needs. (idahosbdc.org)
Contact Information:
- Website: idahosbdc.org
- Phone: (208) 426-1640
- Website: commerce.idaho.gov
- Phone: (208) 334-2470
- Address: 380 E. Parkcenter Blvd., Suite 330, Boise, ID 83706
- Phone: (208) 334-9004
- Website: sba.gov/id
- Boise Chapter:
- Spokane Chapter:
- Website: score.org
- Website: dol.idaho.gov
- Phone: (208) 332-3570
- Website: rdaidaho.org
- Phone: (208) 232-4320
- Website: rd.usda.gov
- Phone: (208) 378-5600
Idaho Department of Commerce
The Idaho Department of Commerce provides a range of resources to support small businesses, including the State Trade Expansion Program (STEP) Grant. This program aims to increase the number of small businesses that export, enhance the value of exports, and explore new trade opportunities. Eligible participants can access funding for export-related projects. (commerce.idaho.gov)
Contact Information:
U.S. Small Business Administration (SBA)
The SBA offers various programs to assist small businesses, including loan guarantees, business planning resources, and government contracting opportunities. In Idaho, the SBA’s Boise office serves as a primary point of contact for local businesses seeking support. (business.idaho.gov)
Contact Information:
Local Resources
SCORE
SCORE is a national organization dedicated to helping small businesses through education and mentorship. In Idaho, SCORE chapters in Boise and Spokane offer free, confidential mentoring and workshops to assist entrepreneurs in starting and growing their businesses. (business.idaho.gov)
Contact Information:
– Address: 380 E. Parkcenter Blvd., Suite 330, Boise, ID 83706
– Phone: (208) 334-9004
– Address: 801 W. Riverside Ave., Suite 444, Spokane, WA 99201
– Phone: (509) 353-2809
Idaho Department of Labor
The Idaho Department of Labor offers consulting and counseling services to both employers and job seekers. They provide resources to assist businesses in workforce development, compliance with labor laws, and other employment-related matters. (business.idaho.gov)
Contact Information:
Financial Assistance Programs
Small Business Relief Loan Program
The Regional Development Alliance, Inc. (RDA) offers a Small Business Relief Loan Program to support businesses affected by economic challenges. This program provides loans of up to $10,000 to qualifying businesses in Bannock, Bingham, Bonneville, Butte, Custer, Jefferson, and Madison counties. The loans feature deferred payments and low-interest rates to assist businesses in recovery and growth. (rdaidaho.org)
Contact Information:
Rural Microentrepreneur Assistance Program
The U.S. Department of Agriculture (USDA) offers the Rural Microentrepreneur Assistance Program to provide loans and grants to Microenterprise Development Organizations (MDOs). These organizations, which can include nonprofits and institutions of higher education, assist microenterprises in startup and growth through a Rural Microloan Revolving Fund and provide training and technical assistance to microloan borrowers and micro-entrepreneurs. (rd.usda.gov)
Contact Information:
Conclusion
Idaho offers a comprehensive array of support programs and resources to foster the growth and success of small businesses. By leveraging these programs, entrepreneurs can access the guidance, funding, and assistance necessary to navigate the challenges of starting and expanding a business in Idaho. For personalized support, consider reaching out to the Idaho Small Business Development Center or other local resources tailored to your specific needs.