Wyoming Business Tips for Nov. 13-19
November 7, 2011 — A weekly look at Wyoming business questions from the Wyoming Small Business Development Center (WSBDC), part of WyomingEntrepreneur.Biz, a collection of business assistance programs at the University of Wyoming.
By Margie Rowell, WSBDC regional director
"Are there any grants available for small businesses?" Jamie, Jackson
One of the best kept secrets to businesses in Wyoming is the Wyoming Department of Workforce Services Workforce Development Training Fund program.
The program can assist new and existing businesses by providing up to $2,000 per employee (owners are considered employees) per fiscal year for established businesses employees need a skill upgrade or retraining. The program also may provide between $1,000 and a maximum of $4,000 per employee per fiscal year for new or expanding businesses, depending on the employee's fulltime status and wage amount.
To register the business and submit an application for a grant, a business must be in good standing with the Wyoming Department of Employment, Unemployment Insurance and Workers' Compensation. The business must complete the "Joint Application Form" with the department before applying for a grant, regardless of entity type (sole proprietor, LLC, Corporation, etc.), even if the business has no employees. This can take up to two weeks to process. A business currently registered with the Wyoming Department of Employment does not need to re-register to apply for a Business Training Grant.
Time is of the essence when applying for a grant. The program provides a date calculator under "What do I need to know about preparing an application." This helps applicants know when an application can be submitted based on the start date of the training. Applying one day late can make the difference between receiving the grant or denial.
A blog version of this article and an opportunity to post comments is available at http://www.wyomingentrepreneur.typepad.com/blog/.
The WSBDC is a partnership of the U.S. Small Business Administration, the Wyoming Business Council and the University of Wyoming. To ask a question, call 1-800-348-5194, email email@example.com or write 1000 E. University Ave., Dept. 3922, Laramie, WY, 82071-3922.