- January 12, 2019
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SCORE - How they can help you
Massachusetts Small Business Development
List of Assistance Organizations
Massachusetts Office of Business Development
– Address: 136 Blackstone Street, 5 th Floor, Boston, MA 02109
– Website: https://www.mass.gov/orgs/massachusetts-office-of-business-development
– Contact information: 617-973-8600
– Summary: The Massachusetts Office of Business Development (MOBD) helps businesses relocating to Massachusetts and businesses wishing to begin operations here with assistance for obtaining funding through various programs, as well as microlending and community development.
Massachusetts Small Business Development Center Network
– Address: Located in six regional offices throughout the Commonwealth, including:
Berkshire, Boston area, Central, Northeast, Southeast, and Western.
o Outreach offices across each region as well in various towns throughout the state, to view outreach locations, please visit: https://www.msbdc.org/outreach.html.
– Website: https://www.msbdc.org/
– Contact information:
– State Office (Amherst):413-545-6301
– Berkshire Regional Office (Pittsfield): 413-499-0933
– Central Regional Office (Worcester): 508-793-7615
– Massachusetts Export Center (Boston): 617-973-8664
– Procurement Technical Assistance Center (Amherst): 413-545-6303
– Northeast Regional Office (Salem): 978-542-6343
– Southeast Regional Office (Fall River) :508-673-9783
– Western Regional Office (Springfield): 413-577-1768
– Summary: The Massachusetts Small Business Development Center (MSBDC) Network provides one-to-one free comprehensive and confidential services focusing on, business growth and strategies, financing and loan assistance as well as strategic, marketing and operational analysis. In addition, low cost educational training programs are offered across the state targeted to the needs of small business.
This is achieved through three integrated product lines:
+ Business Advisory Services
+ Government Contracting
+ International Trade Assistance
Services are delivered through a statewide network of skilled professionals supported by a vast network of federal, state, educational and private sector partners. With seven regional and specialty offices and 38 outreach locations across the state, services are available within 30-minutes of most potential clients in the state.
– Address: online
– Website: https://www.mass.gov/mass-bizworks
– Contact information: complete online contact form
– Summary: Massachusetts BizWorks is a federal and state collaboration designed t enhance and align the services offered to Massachusetts businesses. It simplifies and coordinates efforts among agencies that work with businesses. You don’t have to contact multiple agencies to take advantage of the Commonwealth’s resources. Just contact BizWorks, and you’ll be connected to a variety of services.
– Address: 99 High Street, Boston, MA 02110
– Website: https://www.massdevelopment.com/
– Contact information: 617-330-2000, 800-445-8030, or through the online form
– Summary: MassDevelopment, the state’s economic development and finance agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. Through these collaborations we help create jobs, increase the number of housing units, revitalize urban environments, and address factors limiting economic growth including transportation, energy, and
Massachusetts Growth Capital Corporation
– Address: 529 Main Street, Schrafft Center, Suite 201, Charlestown, MA 02129
– Website: http://www.massgcc.com/
– Contact information: 617-523-6262 (tel), 617-523-7676 (fax), or through the online form
– Summary: The Mission of the Massachusetts Growth Capital Corporation is to create and preserve jobs at small businesses, women and minority owned businesses, and to promote economic development in underserved, gateway municipalities and low and moderate income communities. MGCC provides a centralized resource at the state level that offers working capital, loan guarantees, and targeted technical assistance to solve specific
financial and operational problems. MGCC will provide 50 % of the cost of such assistance while the company being assisted will invest the other 50%.
Address: 308 Congress Street, 5 th Floor, Boston, MA 02210
Contact information: 617-723-4920 (tel), 617-723-5983 (fax), or through the online form
Summary: MassVentures was formed in 1978 as a quasi-public corporation by the
Commonwealth of Massachusetts to address the capital gap for start-up companies and to
encourage the growth of early-stage technology firms. MassVentures’ enabling and
governing legislation is Chapter 40G of Massachusetts General Laws as amended in 1993
and 2002. MassVentures is a venture capital firm focused on fueling the Massachusetts
innovation economy by funding early-stage, high-growth Massachusetts startups as they
move from concept to commercialization.
Massachusetts Alliance for Economic Development (MassEcon)
Address: 101 Walnut Street, Watertown, MA 02472
Contact information: 617-924-4600, or through the online form
Summary: Bringing the public and private sectors together, MassEcon works to create a
supportive culture for business, enhance job growth, promote investment in communities,
and spread prosperity throughout the state. Working with its public sector partners,
MassEcon brings a private sector voice to marketing Massachusetts as a place to do
business. MassEcon provides assistance with business development with things such as
site finding, research, and programming and education.
Small Business Administration (SBA) Boston & Springfield District Offices
Address: 10 Causeway Street, Room 265, Boston, MA &
One Federal Street Building 101-R, Springfield, MA
Contact information: 617-565-5590 (Boston) & 413-785-0484 (Springfield)
Summary: The SBA is a US government agency that provides support to small
businesses through various programs.
Address: 10 Causeway Street, Room 265, Boston, MA
Contact information: 617-565-5591
Summary: SCORE is a program partnered with the SBA that provides free counseling
and mentoring to those who desire to start or build a business in the greater Boston area.
New England Business Association
Address: 1601 Trapelo Road, Suite 172
Contact information: 781-890-9070, or through firstname.lastname@example.org
Summary: New England Business Association provides businesses with more access to
capital, exclusive rates on services and products via a preferred vendor program, and
innovative business-to-business networking platforms.
Center for Women & Enterprise
Address: Central MA Office: 69 Milk St., Suite 217, Westborough, MA
Eastern MA Office: 24 School St., 7 th Floor, Boston, MA
Contact information: 508-363-2300 (Central MA), 617-536-0700 (Eastern MA), or
through info.CentralMA@cweonline.org or info.EasternMA@cweonline.org
Summary: The Center for Women & Enterprise is a nationally known nonprofit
organization dedicated to helping people start and grow their businesses. CWE has
worked with more than 37,300 Massachusetts, Rhode Island, New Hampshire and
Vermont entrepreneurs since 1995.
Massachusetts Association of Community Development Corporations
Address: 15 Court Square, Suite 600, Boston, MA 02108
Contact information: 617-426-0303
Summary: MACDC provides training, technical assistance and access to capital to small
businesses and micro enterprises, including those located in inner-city and rural
communities, those from immigrant communities and communities of color and other
traditional disadvantaged communities.
Massachusetts Immigrant and Refugee Advocacy Coalition
Address: 105 Chauncy Street, Suite 901, Boston, MA 02111
Contact information: 617-350-5480
Summary: The MIRA Coalitions has created a guide aiding immigrants in opening a
business in Massachusetts and offers information regarding state, local, and national
resources for both immigrant entrepreneurs and financial partners and lenders.
Resources to Look Into:
US Small Business Administration
Capital Access Program
A Harvard degree is no match for entrepreneurship!
Recently, I visited some middle school friends in California. One of them, having come to America in his late 20s, decided that he was too old to get a college education; so he started his new life by working as a day labor for a landscaping company. After one year, he saved enough to buy his own lawnmower, so he opened his own business. In 10 years or so, he established a dozen various businesses, providing jobs for hundreds of people. He retired when he was in his 40s, of course, as a millionaire.
And I, after having struggled to get my Harvard degree so I could “change the world”, the world is messier now than years ago, and I still am slaving on my job to pay my mortgage.
If I could do it all over again, I would surely follow my friend’s path. I would open a Banh Mi sandwich shop or a nail salon or learn a trade. I would have enough money to hire a few Harvard PhDs to change the world for me!
THẠC SĨ HARVARD THUA XA….
Các giai tầng xã hội Việt Nam, dưới ảnh hưởng ngàn năm đô hộ từ Bắc phương thường phân hạng “Sĩ, Nộng, Công, Thương”. Tai hại vô cùng.
Tuần rôi, mình có dịp xuống California thăm vài người bạn học từ thuở còn “mặc quần thủng đít”, từ thuở khi gặp con gái thì hoặc bỉu môi quay đi, hoặc đỏ mặt cuống cuồng, luống cuống, đớ lưỡi, hoặc đêm về mơ mộng lung tung. Gặp bạn bè ăn nhậu, kể chuyện xưa, gẫm chuyện nay, tôi kết luận cái nhìn coi thường doanh nhân, người buôn bán của phe ta hoàn toàn sai lầm.
Bạn tôi, sang Mỹ sau tôi chục năm, tập trung năng lực, tâm trí làm ăn, buôn bán. Mới đầu đi làm thuê, cắt cỏ. Sau một năm dành dụm đủ tiền mua máy cắt cỏ, lập công ty cắt cỏ. Hai năm sau bán công ty cắt cỏ, mở chợ, mở tiệm rượu. Rồi mở thêm chơ. Rồi mở thêm tiệm rượu. Sau chục năm thì sung túc, thoải mái về hưu non. Về hưu vài năm, không làm gì thì chán, lại trở lại thương trường, vừa làm vừa chơi.
Tôi sang Mỹ quen thói “nhất sĩ…” cắm đầu cắm cổ vừa làm vừa xin (học bổng) lấy được bằng thạc sĩ từ ngoi trường nổi tiếng nhất nước, mong thay thay đổi …thế giới . Thế giới càng ngày càng đảo điên và mình thì càng ngày càng lão đảo (già).
Nếu có thể đi ngược thời gian, thì tôi sẽ không thèm đi học, và sẽ mở tiệm bánh mì, tiệm nail, vừa thành triêu phú vừa tạo hàng trăm công ăn việc làm cho bà con, anh em bạn hữu. Sau đó vẫn còn tiền để mơ mộng và thừa tiền để thuê vài ông tiến sĩ Harvard làm việc cho mình.
Next Steps for Non Profit
Starting a nonprofit organization can be an inspiring way to give back to your community and help those in need. However, it is important to understand all of the steps involved in this process before moving forward. Growing and sustaining a nonprofit may take years of effort and a great deal of determination.
Tax Credits in New England
Thuế của California, Massachusetts và Texas
Băn khoăn tìm cách để chính phủ giảm thuế cho một doanh nghiệp nhỏ? Bản hướng dẫn dưới đây sẽ cho bạn thấy những gì bạn có thể đủ điều kiện cho các tiểu bang này. Xin nhấn vào đường LINK sau đây.
How to Start A Business Guide
Cách Bắt đầu Một Doanh Nghiệp Nhỏ
Bắt đầu một doanh nghiệp mới có thể là một tiến trình hồi hộp và được tưởng thưởng. Để cung cấp điều kiện tốt nhất liên quan đến việc mở doanh nghiệp của quý vị, điều quan trọng là phải lên kế hoạch trước và có được một kế hoạch kinh doanh chi tiết tốt, sẵn sàng.
A Guide for Tax Credits in MA, CA, TX
For most business owners, the term “tax credit” signifies something good, but they are not sure what the term means, and tax credits are often confused with tax deductions. As you will see, tax credits are better than deductions. Also explained in this article are some of the most common tax credits that businesses can use to lower taxes.
Cơ Quan Phát Triển Doanh Nghiệp Nhỏ Massachusetts
It is rare when you can bring together over 200 entrepreneurs, experts and different agencies together for a day of learning, camaraderie and sharing. It’s what we spent months and over a year of planning and coordinating to produce. But what makes this day special, in our opinion, was that SBTN was the mutual meeting place and the force behind this workshop. Because we are not in the business of business mentoring, what we were able to do was to bring those in the know, and those who were experts in the field, into one space, ready to work with fellow entrepreneurs. Working closely with the OC SBDC, we pulled together experts in three arenas that affect many entrepreneurs: Legal, access to capital and marketing.
Originally we had planned for 3-4 experts to lead the day long workshop but the more we worked with agencies such as the OC SBDC and SCORE, we felt we could better maximize the day by sectioning off the panels and including more experts that would be available to work with the entrepreneurs moving forward. Through many meetings and conversations, we fine tuned the topics, who would be best to lead those discussions, and used data from our surveys to hone in on the subjects that mattered most to our community.
Those were the big umbrellas with subcategories that really allowed audience members to engage and get a better understanding of augmenting their business. Below is a copy of the agenda as well as the questions that were posed to the panelists. To hear the answers, you can go to our website at www.kinhdoanh101.com and watch the workshop in its entirety.
First Panel: Effective Websites/Social Media/Marketing/ International Business/Expanding Markets
Karen Scuncio, SBDC: What is the market for international business for Vietnamese Americans? Does SBDC provide any training on international businesses to small business owners?
Jasmine Braswell, US Dept of Commerce
What is the Global Website Assessment tool and how can the Us Dept of Commerce assist exporters? Will they be able to help businesses find qualified distributors in target export markets?
Martin Selander, SBA:
Does SBA provide any grant or special assistance for companies which export to countries like Vietnam or Mexico?
Gia Ly, Arrow GTP Marketing:
Why should any small business do marketing? What are some effective ways for small businesses? How should a company think about expansion?
1) When should they do it? Where can they get help to think about it?
2) What are some products or services that would fare well in the international arena?
3) What is the International Business opportunity out there and how can Vietnamese
Americans access that?
4) How does having an online presence assist businesses in terms of reach and revenue?
Second Panel: Financial/Loans/Credit
1) In many cultures, Vietnamese included, people think that borrowing money is not a very
good thing. Why should I borrow for my business?
2) What one or two pieces of advice you can give to small business considering to borrow
3) How can they establish a relationship with a bank? Should they choose a big bank or a
4) What should business do once it get rejected from a bank?
Ngoc Tinh Nguyen (UNITI BANK)
How does a community bank compete with big national banks?
Jenny Hong (Wells Fargo)
How does a big bank like yours serve small businesses?
Tony Nguyen (CPA & Attorney)
How does a small business prepare to borrow? What should they do to get a yes from banks?
Kristy Bain, SBA Lender Relations Specialist
What kind of financing or loan does the SBA provide?
1) What is the difference between an SBA Loan and regular loan?
2) At what point would you consider a bank loan? To grow or to start?
3) What will help you get approved? What are you looking for as the lender?
Third Panel: Legal Dos & Don’ts/Startup Essentials
1) Why does a business need legal advice?
2) How should they choose a reputable lawyer or law firm? 3) With years of experience with the Vietnamese community, what are some of the
lessons/examples you have seen?
Teri Pham (Enenstein, Glass & Pham)
When should businesses use a lawyer? Should they have a lawyer similar to having a family doctor?
Bele Nguyen (State Farm)
How expensive is business insurance? Should they have business interruption insurance?
Do Phu Nguyen (Do Phu and Anh Tuan)
With years of experience with the Vietnamese community, what are some of the lessons/examples you have seen?
1) What are the different business entities and which ones are most common in our
2) When looking to choose, what should you be looking out for?
3) What kind of business insurance is mandatory and what is recommended for new
4) Legal do’s and don’ts to look out for?
5) When should a business look into trademarking?
All these topics were covered and the video was aired on SBTN and is also available on Kinhdoanh101.com in its entirety. Entrepreneur Sonny Nguyen of 7 Leaves Cafe took to the stage for an inspiring keynote speech and answered questions from the audience about how he and his family grew their business to over 17 locations in 5 years. We featured 7Leaves as one of our first business highlights in the KD101 series and the response was very positive. We hope that people left inspired and ready to make changes to their businesses with all of the valuable resources and information available to them.
Kauffman/Kinh Doanh 101 Survey and what the data means
When starting a business, there are many things to consider, and SBTN, along with the Kauffman Foundation, wanted to know what was important to our viewers as we set up our Kinh Doanh 101 program. With that mission, we sent out over 1000 open ended surveys to find out what really interested our entrepreneurs and this is a summary of our findings. We used this data to tailor our curriculum and worked with the SBA and local SBDC on creating content that would be both relevant and viable for the Vietnamese American community across the US.
422 people responded to our March 2018, survey, but not all respondents answered all of the questions, and some questions allowed for more than one answer. Most (55%) had already started a business. Among the rest, nearly 70% were interested in starting one, and their business interests were wide ranging, from professional, scientific, and technical services, to restaurants, to nail salons, to construction, and many more. Those who already had a business or were starting one reflected a similar range: professional, scientific, and technical services; restaurants; nail salons, construction; marketing; real estate; retail; and more. Furthermore, many of the respondents were familiar with different types of businesses like independent, franchise, partnerships, and online.
Whether they had a business, were starting a new business, or merely interested, all respondents shared similar concerns. In addition to understanding the business itself, laws, rules, and regulations were major concerns, followed by banking and financing matters. Also intriguing was the fact that about half were already thinking about expansion and franchising.
The value of educational workshops and other learning resources became evident in the details of starting and running a business. Having a good business plan is important. More than half of those who had a business, or were starting one, had a business plan, whereas less than 20% of those who were interested did not have a plan or know how to create one. Likewise, having professionals on the team such as a lawyer, accountant, and IT professional, is also important, and this was recognized by a large number of respondents. Nearly 30% of those interested in starting a business had already formed a team or were looking, and 40% of those who had a business or were starting one had a team. Educational and other learning resource needs were even more evident in financial and tax matters.
Less than 25% of all respondents knew about minority/small business financial incentives or tax credits, and nearly all were interested in some form of tax incentives, particularly tax increment financing (TIF), refundable tax credits, and healthcare credits. Likewise, fewer than 25% knew about federal government small business assistance such as, bidding for contracts, applying for grants, and other assistance. Also, two-thirds had never heard of the Small Business Association (SBA), and of those who had, most (more than 75%) did not know about SBA assistance such as, business development resources, networking with political and business leaders, and applying for licenses and registration. Furthermore, nearly 90% are not connected with any local business network.
Regarding small and medium-sized (SME) business financing, about half of the 151 people who responded to this question expressed confidence or slight confidence, but there was a great interest in finance solutions such as bank loans, venture capital loans, minority business loans, but also much interest in internet investments and financial technology (FinTech). Among other specific interests were discrimination, employee law, and employee benefits.
Thuc Nhi Nguyen, Ph.D