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Raising Capital, Finding Support: 6 Resources for San Antonio Businesses

  • 22 April 2015
  • Author: Cari Holbrook
  • Number of views: 3293
Raising Capital, Finding Support:  6 Resources for San Antonio Businesses

Silicon Hills News reports that, in 2014, nine San Antonio startups received investments of $109.5 million from venture capital firms. The city is becoming ripe for startups (a term defined as new businesses developing scalable technologies or products). For two years in a row, San Antonio has been named by American Express OPEN as the top city for female entrepreneurs. And, with big tech names like Rackspace successfully taking root here, the question has even been asked: Is San Antonio positioned to displace Austin as Texas’s tech hub?

The fact is, though, that for every successful startup venture there are dozens that have failed. Many fail because of a lack of funding. As we’ve highlighted on our blog this month, running out of money and structuring a business incorrectly can be two factors behind new business failures. Simply seeking guidance early can help identify and curb many of these problems.

Take a look at our favorite resources for San Antonio businesses below. Whether you’re bootstrapping or seeking outside funding, these organizations are designed to help you succeed. Many are government funded and free to access.

  • UTSA Small Business Development Center: This organization gives entrepreneurs free access to professional and confidential business advising, a variety of quality training programs, and an extensive referral network. During fiscal year 2014, the center’s clients obtained more than $45 million in capital to start or expand their businesses, resulting in the creation of 1,220 new jobs and the retention of 1,161 existing jobs.
  • San Antonio SCORE:Closely tied to the Small Business Administration (SBA), the San Antonio chapter of SCORE has provided free mentoring, workshops, templates and tools for area businesses since 1974. It relies on around 40 business men and women with real-world experience to provide services that are timely, relevant and diverse.
  • The Alternative Board® (TAB) San Antonio: For the past 18 years, The Alternative Board has been San Antonio’s premier peer advisory organization, carefully assembling cross sections of talent in finance, operations, sales, marketing and technology (including our own Steven Bankler). The group provides business owner advisory boards, toolkits and coaching. Click here to learn about their next Executive Briefing and Breakfast.
  • Café Commerce San Antonio: The City of San Antonio together with LiftFund developed Café Commerce to help guide startups and existing small businesses to success. Stop by the physical location at the downtown public library at 600 Soledad St. or comb through its many resources online, including programs and funding opportunities for entrepreneurs in niche areas like craft beverages and downtown retail.
  • Westside Development Corporation (WDC):WDC is a City of San Antonio delegate agency, non-profit organization and Local Government Corporation responsible for attracting new business and assisting existing business in the Westside of San Antonio. The organization has been responsible for fostering economic development, promoting the development and redevelopment of real estate and creating viable urban communities.  Located on San Antonio’s Eastside? Take a look at San Antonio for Growth Development (SAGE), which champions development in those specific communities.
  • Central Texas Angel Network (CTAN): Based in Austin, CTAN is considered a national leader of capital and mentorship for early-stage entrepreneurs in Texas. They run five formal funding cycles each year, typically spaced 5-8 weeks apart. Investors are from all over Texas, including San Antonio.

At Steven Bankler, CPA, Ltd., we work with an increasing number of startup businesses, tailoring many tax and financial strategies to help these specific businesses take flight. We’ve always served growing businesses in Central Texas and startups are certainly an increasing part of that group. If you have questions about structuring a new business and/or positioning your business for growth, give us a call or contact any of these great resources listed above.

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