Free management advice is offered on almost every usiness subject y the Department of Economic Development to minimize new business start-up management costs. State hired specialists are available to assist new entrepreneurs lect the best possible location for their new business. States have highly trained management consultants who will locate Federal Grant Programs and help you through the application Process. State professionals will help a new business owner apply for permits, licenses, or any other legal document a business may require. You would, however, probably have to give up part of the ownership of your business in order to receive financing.
Most states have their own venture capital finance terms that invest in high risk businesses.
A state may raise money through industrial revenue bonds to buy your fixed-asset equipment. The public, which invests in these bonds, do not pay taxes on the earned interest. When a low interest loan is granted, the states does not guarantee that investors will get their money back if the business fails. If a state issues a general obligation bond, a public investment is then guaranteed. The states will also make direct loans at low interest, or even co-sign a commercial bank loan.