The Fulton Economic Development Corporation is touting the results of an initiative to spur entrepreneurship in the local area.
Efforts started following the 2010 census – which determined that 90-percent of businesses in Fulton County have fewer than 19 employees. In mid-2012, FEDCO launched the Entrepreneurial Initiative with the goal of supporting some of its small businesses while helping them grow their operations.
The program is funded by grants through the USDA and offers training, loans, and education to small business owners. The Fulton Economic Development Corporation says they’re also able to bring quality of life projects to the county through the program.
According to the results from the past three years, 74 students have taken FEDCO’s planning and management courses. In the meantime, more than $200-thousand has been loaned through the USDA revolving loan program and about $15-thousand has been loaned in the form of technical assistance.
Everyone surveyed who took advantage of the resources indicated they were more likely to form a business plan going forward, and felt more confident starting a business after learning about the USDA’s assistance resources.
FEDCO says is a statement that they plan to continue adding support programs for local entrepreneurs.