SWLA Economic Development Alliance – Providing Resources for Entrepreneurs

by Kerri Cooke

The SWLA Economic Development Alliance, housed within the Henning SEED Center, is a major advocate for locals seeking career development, equipping small business owners with the resources they need for success.

While the Alliance hosts many different programs benefitting economic growth, the Louisiana Small Business Development Center and the Business Incubator of Southwest Louisiana are two particularly beneficial programs to start-ups.

The Louisiana Small Business Development Center, in partnership with McNeese State University, helps instill the knowledge vital for a new business to thrive and offers consulting services. Learn how to develop a business plan, do a market analysis and secure investment. Workshops are offered free of charge on topics such as starting a business, funding, taxes and accounting, digital marketing, E-commerce and other relevant subjects. Qualifying businesses can also now be certified by the Louisiana Economic Development’s Small and Emerging Business Development Program within 48 hours.

Riah Everly, owner of local bookstore The Charmed Page which opened last year, benefitted from the help of the Louisiana Small Business Development Center. Everly consulted with Susan Thibodeaux, director of the center, on her business plan, setting up her LLC and financial estimates.

Everly says, “As a first-time small business owner, I knew what I wanted The Charmed Page to feel like, but the SBDC helped me turn that vision into something tangible and operational. Susan became a mentor—someone I could check in with when I had doubts or needed advice. From connecting me with local resources to reviewing vendor contracts and guiding me through financial projections, the center made me feel like I wasn’t alone in this process.”

The Business Incubator of Southwest Louisiana hosts similar resources, but is all-encompassing, offering office space, access to office equipment and business training to start-ups. Working inside the SEED Center gives clients the ability to access resources consistently. Entrepreneurs also receive networking opportunities along with coaching, counseling, managerial and technical services.

Applicants will have to go through a series of steps to be granted access to the Business Incubator. A tour of the facility is recommended as a first step. You can then submit an application for consideration. You will be notified if selected for an assessment. You might be referred to the Small Business Development Center to begin your journey. If you and your business are being considered for placement in the Business Incubator, you will participate in an interview with local business leaders after which it will be decided whether or not you qualify for the Business Incubator program.

The Business Incubator also hosts its Business Pitch Competition every year in which $65,000 worth of cash and prizes will be given to the winning pitch in addition to all the perks of being a part of the Business Incubator. Held once a year, the competition is open in the categories of high school, college, general business and technology. More information for both the Business Incubator and the Business Pitch Competition can be found at seedcenterswla.com.

Business consulting services and access to business expertise increases the chances of a new business thriving. According to the Bureau of Labor Statistics, as many as 20% of new small businesses go under within a year of opening, while 50% fail after five years. With the proper guidance, resources and knowledge of the potential risks and gains, entrepreneurs are more likely to succeed and make a positive impact on the community. If you have a business plan, take the initiative and speak with experts to take various perspectives into account before investing significant time and effort.