Editorial: Business tool would be valuable

Talk about it

On Monday night the Farmington Economic Development Authority heard an intriguing proposal about a project called Open for Business. The effort, led by a group called the Metropolitan Consortium of Community Developers, provides a host of services that can be of benefit to people who are currently running or considering launching a small business.

The cost for the city would be relatively small, just $5,000 after the Dakota County Community Development Agency covers half of the bill, and the services it provides seem remarkably beneficial to would be entrepreneurs.

The Open for Business program would serve as a kind of free consultant service for Farmington residents with who have been thinking about going into business for themselves. Representatives from the group can look over business plans and provide a realistic assessment of what it takes to succeed. They can offer tips on marketing, or on the finer points of running a business.

That kind of information might at times convince someone they are not ready to take the plunge, but sometimes that is the best possible outcome. There is no point in pouring everything you have into a dream if you’re not in a position to make it come true.

For those who are prepared, the MCCA can also provide loans in the kinds of amounts that are sometimes difficult to get for small businesses.

A program like this one, which the MCCA encourages cities to promote as their own, can go a long way as a city tries to build up a friendly climate for businesses.

There is still some uncertainty around the program. Farmington’s decision depends at least in part on the decisions of other cities in Dakota County. But MCCD is confident enough it will find support that it has started interviewing for candidates to work with the local business community.

For Farmington’s $5,000 investment, it wouldn’t take many success stories for Open for Business to be worthwhile.

Tags: opinion, farmington, business