Virginia's Growth Alliance (VGA) is now in the process of implementing a comprehensive program of services to small and emerging businesses. As a result of the recommendations of the Entrepreneurship Committee of the Stronger Economies Together (SET) plan and the study highlighting the gaps in services supporting small business development by the Small Business Development Center at Longwood University, VGA is working with the Longwood Small Business Development Center, Southside Planning District Commission, Virginia Tourism Corporation (VTC) and the Virginia Department of Housing and Community Development (DHCD) to implement a four-pronged approach to increasing small business development throughout the region.
The four-pronged approach includes; a web portal providing access to small business services from various organizations serving the region, comprehensive education and technical assistance to small and emerging businesses, enhanced financial resources for emerging and small businesses and an aggressive marketing effort to promote these new or enhanced services.
The initiative has been kicked off with a class for aspiring businesses in Lawrenceville by the Longwood University Small Business Development Center. This will be one of a series of classes conducted throughout the region support financially by DHCD and VTC. The Department of Housing and Community Development has invited VGA to submit an application for a Community Development Block Grant to further expand the services and financing available to the region. The Southside Planning District Commission through Lakeside Development Corporation has pledged a portion of their loan funds for a micro-loan fund for start-up businesses in the Mecklenburg and Brunswick Counties.
The Longwood analysis of the job business growth in the region between 2006 and 2010 indicates that even during the recession while overall total jobs in the region declined sharply the growth of small businesses increased and the employment by self employed and very small businesses, 2 to 9 employees, increased. Small and emerging businesses have been and will continue to be the primary engine for economic growth in the future.