Launching a small business is no easy task. But for many local small businesses and startups, free resources and support are within reach.
In Arlington County, approximately 8,000 businesses a year get their start with the help of Arlington Economic Development’s BizLaunch.
Tara Palacios, who started the organization more than 20 years ago, likes to describe BizLaunch as the keeper of dreams.
“A lot of entrepreneurs come to us the very first time — they may not have talked to their family or their significant others — and they come to us with their dreams,” Palacios, BizLaunch director, told WTOP during our Small Business September 2024. “And we help them through the process of how to start and grow their businesses.”
Today’s small business entrepreneurs
BizLauch continues to evolve too, she said, to help the entrepreneurs that seek out help. Women and minorities are starting small businesses at a faster clip, both locally and nationally.
“If you look at women in general, they’re starting businesses at 114%. The federal government is starting to really put a lot of resources to that number,” Palacios said.
Historically, access to funding and other resources has been challenging for women and minorities looking to launch their own businesses.
“If you look at women of color who are Black and are starting businesses, they’re growing at a tremendous clip,” she said, adding, “We see that as an opportunity to be able to help them and build wealth and sustainability for our community.”
As example of the types of programs BizLaunch has been targeting at minority business owners, Palacios pointed to a minority vendor fair with the Hyatt Regency in Crystal City it held to provide these entrepreneurs introductions to potential partners.
“Our goal was to bring together 65 black-owned businesses and to have them open up an opportunity to be able to vend to other large corporations such as Hyatt, Walmart and Target,” she said.
“We had 65 vendors that presented themselves for a daylong conference, and each one of them got contracts,” Palacios said.
To capitalize on that momentum, BizLaunch will be hosting several programs throughout the coming year aimed at helping entrepreneurs compete for business. Here are a couple happening soon:
- Arlington Art Walk, on Oct. 5
- Hispanic Heritage Month, Sept. 15 through Oct. 15
To learn about all events and training opportunities, visit Arlington Economic Development’s Event page.
Keeping up in a changing business environment
Not all entrepreneurs are young nor are all small businesses new, Palacios said. BizLaunch also provides support and services to legacy business owners with decades of operating experience. They often need help with pivoting and learning new skills to stay competitive, she said.
Now, although many were able to adapt and survive during the COVID-19 pandemic, more of these businesses are reaching out now because they realize their target market has changed, Palacios said. “People aren’t shopping the way they used to.”
“Many businesses were successful based on their brick-and-mortar, and people visiting them. Now, you’ve got to have an online presence,” she said. That wasn’t something temporary to survive the pandemic.
BizLaunch works with many older adults and long-term business owners to get them familiar with evolving their online presences and maintaining social media platforms.
“It has also been an opportunity for us,” she said.
What to ask yourself before launching a business
For people who want to start a small business, Palacios has advice: Remain flexible, self-aware and self-reflective.
“You have to be a bit coachable. You have to be able to self-reflect and say, ‘I have this weakness. Maybe I need to look at a venture capitalist. Or maybe I need to look to bring advisers on to help guide me through this,’ ” she offered as examples.
If you can target a weakness, “you can alter it quickly before you lose any money or you go down the wrong path,” Palacios said.
Entrepreneurship is a dream for many, and no one has to navigate it alone.
“I would encourage people to reach out to their economic development office or their Chamber of Commerce. Being in the DMV, there are so many resources for small businesses and people that have an idea,” she said.
To make your dream become a reality, “map it out, write it down, do a strategic plan, understand your competition, understand the marketing of it all in social media,” Palacios said. Ideally, she added, if someone can do that before launch, the business will be a step ahead of any problems that crop up.
“You’ve already thought about it, and you can begin your journey of success. But reach out, and don’t do it alone.”
To discover more insights for entrepreneurs, startups and SMBs shared during WTOP’s Small Business September, click here.
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