By John Medina
Vice President of Business, Insurance, and Investment Services
First Commerce Credit Union

Surveys by the Federal Reserve, Small Business Development Centers, and the Florida Chamber of Commerce consistently indicate the greatest challenge for small business owners is access to capital. While small businesses will be the catalyst for 4 of every 5 new jobs created over the next 5 years, they are typically limited to conventional financing.  In addition to access to capital, a recent study by the Hartford identified other top issues facing small businesses as increasing healthcare costs, uncertain tax environment, minimum wage increases, impact of data breaches and cyber fraud, and mobile payment technology.

No matter what kind of help you need to start or grow your business, there are many resources available in the Big Bend region. Here are just a few places and ideas to help you get started:

• If you need help with a business plan, marketing research, projections, and more, contact the Small Business Development Center, located at FAMU
• For State of Florida agencies promoting capital access for small businesses, visit the Florida Finance Network
• If access to talent, training, and other employer resources is what you’re looking for, visit Career Source
• For information on Florida’s economy and legislative landscape, visit the Florida Chamber of Commerce
• Create your team of professionals – Bring in expert help where you need it, which often includes a CPA, financial advisor, attorney, insurance specialist, etc.
• Be sure to tap into your team of experts or other consultants to establish systems and processes – payroll, finance, human resources, regulatory compliance, etc.
• We are fortunate to live in this community, which is rich with other resources. Consider TCC; the FSU College of Business including The Jim Moran Institute for Global Entrepreneurship; Domi Station; Florida First Capital Finance Corporation; the City of Tallahassee; Leon County; etc.
• For a list of additional resources, please visit First Commerce’s Business website.

At First Commerce, we are here to be a resource for you. We believe small businesses are the backbone of our community, which is why we focus on helping you save time & money so you can stay focused on what you do best. We believe in the Power of Yes, keeping our decisions at home and finding solutions that work, from financing to insurance to financial advisory services and beyond. That’s why we were proud to be named the Top Credit Union of the Year for 2014 by the Small Business Administration (SBA) North Florida District Office.

Find out how our full range of Local Strong business services can help power your business by contacting our Business Services team at (850) 410-3559 or by visiting FirstCommerceCU.org/Business.