FEDERAL, STATE & PRIVATE RESOURCES
Considering opening a business in the Town of Stonington? Download the Stonington Economic Development Committee's Guide to Starting A Business in Stonington here:
For additional information you can also visit: Stonington EDC Website
CBIA’s Compensation Report 30th edition is now available to GMCC members.
CBIA’s Compensation Survey Report gives you essential information to make sure your salaries compete with the marketplace. Our latest electronic report contains wages and salaries paid by small and midsize employers from various industries. Data are reported on a statewide basis and by geographic region when possible. To receive this report email Phillip.Montgomery@cbia.com and mention your membership to the GMCC.
Business Credit Card Resources
Finding ideal rates and terms for a personal credit card can be hassle enough, but at the same time, looking for the perfect business credit card can feel like too much trouble for too few advantages.
Business Credit Card Information
COMMUNITY ACCOUNTING AID & SERVICES INC.
1800 Asylum Avenue, 4th Floor, West Hartford, CT 06117; (860) 570-9113
Purpose: Provides free accounting and financial counseling to economically disadvantaged businesses and individuals in Connecticut.
CONNECTICUT BUSINESS AND INDUSTRY ASSOCIATION (CBIA)
CBIA, 370 Asylum Street, Hartford, CT 06103 ; (860) 244-1900
Purpose: The Connecticut Business & Industry Association (CBIA) is a professional service organization, recognized as the most effective advocate for business in the state. We work at the state Capitol on behalf of our 10,000 members, and they rely on our products, services and information to grow and compete in a global economy.
CONNECTICUT CENTER FOR ADVANCED TECHNOLOGY, INC.
222 Pitkin Street, Suite 101, East Hartford, CT 06108; (860) 291-8832
Mission: The Connecticut Center for Advanced Technology, Inc. provides services and resources to entrepreneurs and businesses, and through collaboration with industry, academia, and government, helps companies innovate and compete, thereby strengthening our nation in the global market.
CONNECTICUT INNOVATIONS (CI)
200 Corporate Place, 3rd Floor, Rocky Hill, CT 06067; (860) 563-5851
Purpose: Connecticut Innovations provides strategic capital and operational insight to push the frontiers of high-tech industries such as energy, biotechnology, information technology, and photonics.
Over the years, CI has helped over 100 emerging companies research, develop, and market new products and services. This activity has attracted over $1 billion dollars in additional investments from private equity providers. CI has brought the State of Connecticut over $510 million in Gross State Profit and over 5,000 additional job-years.
CT DEPARTMENT OF LABOR
200 Folly Brook Blvd, Wethersfield 06109 (860) 263-6000
New London CT Works Center, Shaw's Cove Six, New London, CT 06320; (860) 439-7400
Purpose: The Department is committed to protecting and promoting the interests of Connecticut workers. In order to accomplish this in an ever-changing environment, we assist workers and employers to become competitive in the global economy. We take a comprehensive approach to meeting the needs of workers and employers, and the other agencies that serve them. We ensure the supply of high-quality integrated services that serve the needs of our customers.
OFFICE OF RESEARCH AND INFORMATION - DEPARTMENT OF LABOR
Department of Labor Office of Research and Information, 200 Folly Brook Boulevard, Wethersfield, CT 06109; (860) 263-6000
Purpose: Provides economic information on Connecticut and area industries as well as data on the occupational status of all industries, and projections of worker skills needed as employment trends are identified.
CONNECTICUT DEVELOPMENT AUTHORITY (CDA), a quasi-state agency
999 West Street, Rocky Hill, CT 06067; (860) 258-7800
Purpose: The Connecticut Development Authority provides debt financing and investment capital to help businesses grow in Connecticut.
-We stimulate business investment and create jobs by financing companies and projects that: Contribute to Connecticut’s economy, technology base, intellectual capital, urban infrastructure, employment or tax revenues.
-Private sector financial institutions are unable to accommodate.
CT ECONOMIC RESOURCE CENTER - Connecticut's Business Response Center
805 Brook Street, Building 4, Rocky Hill, CT 06067-3405; (800) 392-2122
Purpose: CERC is a nonprofit company funded primarily by utility companies with a mission of promoting Connecticut as a competitive business location. We specialize in economic development, research and marketing for local, regional, state and utility economic development entities. Through our accomplished, entrepreneurial staff of professionals and its vast network of consultants and strategic partners, CERC provides clients with the knowledge and insight they need to gain a competitive advantage.
CERC offers Connecticut economic development and related professionals with relevant expertise and a complete range of services - we can be a single source of assistance, providing everything from strategic planning and data gathering to implementation and follow up.
CT LICENSING CENTER & SMART START
805 Brook Street, Bldg. 4, Rocky Hill, CT 06067; (800) 392-2122, (860) 571-6207
Purpose: Whether you are starting, purchasing, expanding or relocating a business in Connecticut, we want to make it easy for you to navigate through the various licensing and registration requirements.
Our easy-to-use system will guide you step-by-step through the process leading you to the appropriate agencies, necessary forms and additional information sources. This process is effective for the majority of businesses, however if you require further assistance, please contact Smart Start for customized, one-on-one support.
CONNECTICUT PROCUREMENT TECHNICAL ASSISTANCE PROGRAM (PTAP)
PTAP's Headquarters at the Southeastern Connecticut Enterprise Region (SECTER), 190 Governor Winthrop Blvd, Suite 300, New London, CT 06320; (860) 437-4659
Purpose: Provides free marketing and technical assistance to Connecticut businesses that sell or want to sell their products/services to federal, state and local government agencies.
CT SMALL BUSINESS DEVELOPMENT CENTERS
Connecticut Small Business Development Center
University of Connecticut
2100 Hillside Road Unit 1044
Storrs, CT 06269-1044
The Connecticut Small Business Development Center (CT SBDC) is a statewide program that provides no-cost business advising and low-cost training to all entrepreneurs in the state starting or growing their own business. Small business owners and entrepreneurs can use the center’s development resources and meet with professional business advisors to learn more about everything from startup planning and marketing, to loan package development, international trade, disaster recovery assistance and growth strategies.
The CT SBDC operates through a cooperative agreement with the U.S. Small Business Administration and in partnership with the Connecticut Department of Economic and Community Development (DECD), the MetroChambers Alliance, the Women’s Business Development Council (WBDC), SCORE and several service providers, lenders and business partners across the state.
For more information about the Connecticut Small Business Development Center and the services they provide to small businesses and entrepreneurs throughout the state, visit ctsbdc.org or call 855-4CT-7232 (428-7232).
1090 Elm Street, Suite 202, Rocky Hill, CT 06067; (800) 266-6672, (860) 529-5120
Purpose: CONNSTEP has built a reputation as Connecticut’s leading resource for manufacturing businesses. Since 1994, we’ve helped hundreds of manufacturers tackle their toughest challenges and take their business to the next level. We offer a full range of solutions for manufacturers of all sizes.
DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT (DECD)
805 Brook Street, Building 4, Rocky Hill, CT 06067-3405; (800) 392-2122
Purpose: The Department of Economic and Community Development is the state's lead agency for the development and implementation of policies, strategies and programs all of which are designed to enhance Connecticut's communities and business and housing environments.
The Department of Economic and Community Development develops and implements strategies to attract and retain businesses and jobs, revitalize neighborhoods and communities, ensure quality housing and foster appropriate development in Connecticut's towns and cities.
DEPARTMENT OF ADMINISTRATIVE SERVICES SET-ASIDE PROGRAM
165 Capitol Ave, Rm G-8a, Hartford 06106, (860) 713-5236
Purpose: The State's Supplier Diversity program targets that at least 25% of the state's business is transacted with small businesses including those owned by minorities, women and the disabled. To participate, simply register with the Department of Administrative Services. Once certified, you can bid on contracts covered by the program as well as all other state contracts.
INSTITUTE FOR TECHNOLOGY AND BUSINESS DEVELOPMENT (ITBD)
185 Main Street New Britain, CT 06051; (860) 832-0700
Purpose: Central Connecticut State University's Institute of Technology and Business Development (ITBD) supports Connecticut businesses and business-related organizations with training, technology assistance, conferencing services, procurement services and business incubation.
Combining the expertise of a professional staff, academic experts, private sector advisors, and government resources, ITBD turns ideas into ventures, aids the growth of existing businesses, and helps Connecticut's business community succeed in today's challenging domestic and international market.
SOUTHEASTERN CONNECTICUT ENTERPRISE REGION (SECTER)
190 Governor Winthrop Blvd., Suite 300, New London, CT 06320; (860) 437-4659
Purpose: The Southeastern Connecticut Enterprise Region (seCTer) is a public-private regional economic development agency serving the towns of New London County Connecticut. Our mission is to promote and preserve the region's attractiveness, to encourage new businesses, and to assist and to nurture existing and expanding local enterprises.
SMALL BUSINESS ADMINISTRATION (SBA)
330 Main Street, Hartford, CT 06106; (860) 240-4700 or the SBA Answer Desk (800) 827-5722
Purpose: SBA’s District Offices are responsible for the delivery of SBA's many programs and services throughout the country. Services available include:
• Free counseling, advice and information on starting a business through the Service Corps of Retired Executives (SCORE).
• Financial assistance for new or existing businesses through guaranteed loans made by area bank and non-bank lenders.
• Free consulting services through the network of Small Business Development Centers. SBDCs also conduct training events throughout the district - some require a nominal registration fee.
• Assistance to businesses owned and controlled by socially and economically disadvantaged individuals through the Minority Enterprise Development Program.
• Women's Business Ownership Representatives are available to advise women business owners.
• Special loan programs are available for businesses involved in international trade.
• Guaranteed loans are available for credit-worthy veterans.
ONLINE WOMEN'S BUSINESS CENTER (SBA)
Small Business Administration, (SBA) 330 Main Street, Hartford, CT 06106; (860) 240-4700
Purpose: This interactive business skills training website, http://www.onlinewbc.org, is dedicated to enabling entrepreneurial women to reach their goals and aspirations for personal and professional development. The center's goal is to provide women with the information and expertise they need to plan their economic independence through entrepreneurship.
SCORE - SERVICE CORPS OF RETIRED EXECUTIVES
Small Business Administration, 330 Main Street, Hartford, CT 06106; (860) 251-7000
SCORE® Southeastern CT, 665 Boston Post Rd (at Old Saybrook Shopping Center), Old Saybrook, CT 06475
Also meets with clients monthly at the Greater Mystic Chamber of Commerce.
Purpose: More than 13,000 volunteer business executives provide free counseling and training for small business owners.
In the world of finance there are many different options available to businesses of all sizes and types. The overall goal of business financing is to raise the capital to meet your business's current needs. Those needs can range from equipment purchases to renovations, all of which will help your business to grow further in its industry. Next is to get this capital at the least cost for your business to ensure you will be able to meet the repayment obligation. businessfinancing.org
U.S. EXPORT ASSISTANCE CENTER
United States Department of Commerce, District Export Assistance Center, 213 Court Street, Suite 903 Middletown, CT 06457-3346; (860) 638-6950
Purpose: Export.gov Helps American Companies Succeed Globally. Export.gov brings together resources from across the U.S. Government to assist American businesses in planning their international sales strategies and succeed in today’s global marketplace. From market research and trade leads from the U.S. Department of Commerce’s Commercial Service to export finance information from Export-Import Bank and the Small Business Administration to agricultural export assistance from USDA, Export.gov helps American exporters navigate the international sales process and avoid pitfalls such as non-payment and intellectual property misappropriation.
Innovative Technology Insertion (ITI) for Connecticut Manufacturers.
Basics are as follows:
-50% subsidy for projects conducted
- Historically, projects have priced between $5K and $10K. Milling projects have yielded 50-70% reductions in cycle time and turning projects have yielded 10-20% reductions.
-In addition to the cycle time improvements, the revised machining process typically improves tool life by 2-2.5X and lowers both peak power and overall kWh usage.
- Each company/location is eligible for up to $10,000 of co-funding on machining improvement projects.
-Funding available will assist approximately 15 companies (first come basis).
Copyright Greater Mystic Chamber of Commerce 2006. All Rights Reserved.