Memphis receives prize to lower barriers for entrepreneurs

The U.S. Small Business Administration awarded Memphis a $50,000 Start Small Model prize in its Startup in a Day Competition. The SBA Startup in a Day initiative aims to make it easier for entrepreneurs to start a business by reducing the amount of time it takes to register and apply for permits and licenses. 

The competition awards prizes to support the development, implementation, and improvement of online tools that will let entrepreneurs learn about the business startup process in their area, including how to register and apply for all required local licenses and permits, in one day or less. Winners were announced at the White House Demo Day.

“Creating a ‘one-stop-shop’ online to start a business has long been on my wish list,” said Mayor A C Wharton. “I greatly appreciate SBA’s Startup in a Day opportunity, which will help us develop online tools specifically designed to be easy to use and that provide clear, concise, and current information about starting a business in our city.”
 
The City’s partners include Shelby County government, the Economic Growth Engine for Memphis and Shelby County (EDGE), and the Greater Memphis Chamber. One of the Chamber’s Chairman’s Circle "moon missions" is creating 1,000 new entrepreneurs by 2024. To advance this mission, EPIcenter was created to serve as a central point of contact for the region’s ecosystem and coordinates resources from various organizations in the community such as accelerators, incubators, mentors, investors, networking programs, and technical assistance programs for entrepreneurs.

“Memphis has been recognized as a top city to launch a business and now, with the Start Small Model prize, it will be easier than ever to obtain a business license. These collaborative efforts are critical to our economic growth,” said Phil Trenary, President & CEO of the Greater Memphis Chamber.

EPIcenter will be the owner of our SMART START one-stop site. SMART START will remove barriers to starting a business with a comprehensive, user friendly, accurate, integrated and functioning interface that streamlines and simplifies the process of starting a business and incorporates wrap-around expert support.

“It is extraordinary that city and county partners were able to come together in this unified approach to support our region’s entrepreneurs.  Startup in a Day is a perfect example of the kind of partnership that EPIcenter is dedicated to convening and catalyzing in order to move our city forward.” Leslie Smith, President, EPIcenter.