Wyoming County Small Business Resources

I want to start a new business. I have no idea where to start. Who can I talk too?

• Stephen Clark, WVSU Economic Development Extension Agent (304) 732-6707, steve.clark.wvsu@gmail.com
• Harold Patterson, Small Business Development Center (304) 862-3144 X240 hpatterson@frontiernet.net
• Karen Jones, Women's Business and Training Center (not just for women) (304) 253-3145 kjones@westvirginiawbc.org
• Business4WV.com is your online portal to state business services in West Virginia. Start here to establish a new West Virginia business or bring your out-of-state company to the Mountain State. This site is loaded with usefully information. You can even get a business license and start a company here. You can also use it to keep your business filings current.

Show Me the Money!

• Wyoming County Economic Development Authority - has 5 loan funds available to businesses in 7 Southern West Virginia Counties. Loan amounts range from $300 to $215,000. Interest rates and terms are very competitive. Contact Stephen Clark, (304) 732-6707 or steve.clark.wvsu@gmail.com
• Innovation Bank - A SOHO loan offers the potential qualified small business owner financing that ranges from $5,000 up to $50,000(Community Express minimum loan amount is $25,000). All loans carry an 84-month term, no pre-payment penalty, minimal paperwork, Innovative Bank paid technical assistance, as needed, and quick turnaround time. Variable interest rates are tied to the new Prime Rate published in the Wall Street Journal plus the Innovative Bank spread of 4.75% or 3.75%, depending on the amount of the loan. Go to innovativebank.com for more information.
• Natural Capital Investment Fund - Mission is to provide debt and equity financing to small and emerging natural resource-based businesses that will advance sustainable economic development throughout North Carolina, Northeast Tennessee, Southwest Virginia and West Virginia. NCIF's business clients are predominately located in economically distressed rural communities and are unable to access capital from traditional sources. Contact - Joe Brouse Business Lender jbrouse@conservationfund.org Cell (304) 228-3121
• West Virginia Jobs Investment Trust Board - A leading venture capital firm made up of partners with extensive management, operations and technology experience and focused on turning the innovation of new ideas into successful world-class companies. Since 1992, the JIT has been an active investor and valued partner to exceptional entrepreneurs on the leading edge of industry. Contact staff at (304) 345-6200
• Mountaineer Capital LP - Provides venture capital to promising new and existing businesses located in West Virginia and surrounding states. Mountaineer Capital is licensed as a Small Business Investment Company (SBIC) by the U.S. Small Business Administration. We focus on providing the first level of professional funding for early stage companies. We also can assist in the funding of expansions and special buyout situations. Initial investments are expected to range between $250,000 to $1 million and be structured as straight equity or more generally a debt security with equity warrants and options. Potential investment candidates should possess qualified and experienced management, distinctive products, defined markets, and outstanding growth potential. If your company has a solid business plan and the right people in place, we can help. For more information about our services, contact: Mountaineer Capital LP, 107 Capitol Street; Suite 300 Charleston, WV 25301 Phone (304) 347-7519 Fax: (304) 347-0072
• Innova Capital - INNOVA's typical equity or near-equity investment is $50,000 - $150,000. Companies in which INNOVA invests can expect to receive capital infusions in installments that are based upon the company meeting predefined milestones. INNOVA takes reasonable ownership for equity and charges reasonable interest rates for near-equity investments. For portfolio companies, INNOVA will continue to play an advisory or board role in the companies until exit. (877) 363-5482
• Golden Eagle Ventures - Golden Eagle Ventures will invest primarily in early-stage, emerging growth companies. The Fund plans to provide $50,000 to $150,000 in seed and first-stage funding rounds in syndication with other venture capital funds and angel investors. The Fund will consider investments statewide, without restrictions on industry. Contact Nora Myers, noramyers@ucwv.edu or (304) 357-4914.
• Women's Business and Training Center - Assists with Small Business Administration (SBA) loan applications. (304) 253-3145 kjones@westvirginiawbc.org
• Prosper.com - A peer based online lending website where you sell your case for a loan to many people who are looking to make loans.

I want some training to help me run a successful business. Where can I get the training I need?

Training - The Women's Business Center, the Small Business Development Center, and Travel Beautiful Appalachia all teach business planning course. The Women's Business Center also teaches a wide variety of other business related courses.

Business planning courses include:

• Opening Soon Inc. - The Opening Soon, Inc. training program will equip you with the skills to be your own boss! Opening Soon, Inc. focuses on equipping you with the skills and knowledge to start your own business and also gives you rewarding employment skills.
• TBAI Business Development Training Course - Eight week business planning and management course. Contact Debbie Bailey at (304) 862-4800 for more information.
• Nxlevel - The NxLeveL Entrepreneurial Training Programs are practical, hands-on business development courses designed to help entrepreneurs advance their skills in starting growing and managing their business. NxLeveL classes are offered throughout the United States through the NxLeveL Training Network.
  • Contact Harold Patterson, Small Business Development Center (304) 862-3144 X240 hpatterson@frontiernet.net, or Karen Jones, Women's Business and Training Center (not just for women) (304) 253-3145 kjones@westvirginiawbc.org

Other business related courses: These courses include computer and software training, ecommerce training, OSHA training, finance training, bookkeeping and tax training.  Several specialty trainings are also taught locally from time to time such as Quickbooks training and Bed and Breakfast training.

Most of the local training is provided by the Women’s Business Center (not just for women).  Travel Beautiful Appalachia Inc. also has training courses from time to time.  You can contact the Women’s Business Center at (304) 253-3145.  A listing of there current training offerings is on their website at http://westvirginiawbc.org/index.php?pr=Workshops_and_eLearning  You can contact Travel Beautiful Appalachia Inc at (304) 862-4800.  Their website address is http://www.tbaiwv.org/

I want to start a tourism related business. What are some resources that can help me with this type of business?

• Travel Beautiful Appalachia Inc. has a showroom in Ashland, WV where local artisan can sell there products. (Artisan and crafters will be able to sell their products on line in the near future.) 1-304-862-4800
• Mountain Made and the Center for Economic Options are also great resources for marketing locally made products.
• Hatfield McCoy Trails is a regional trail system that caters to mountain bikes and four wheelers. Many businesses have benefited from this trail. There is still a need for more lodging and non-motorized activities to support the trail riders. Businesses can advertise on the Hatfield McCoy Trails Website and can be licensed to sell Hatfield McCoy Trails merchandise. 1-800-592-2217
• Bed and Breakfast Training - Kathleen Panek, owner of the Gillumhouse in Shinston, WV travels the state providing workshops to entrepreneurs who are thinking of starting any kind of lodging business. She is an excellent resource. 1-888-592-0177

I want to create and sell food products. What resources can guide me through this process?

• Selling Food Commercially - Travel Beautiful Appalachia Inc. has a fully licensed commercial kitchen that food entrepreneurs share to make their products until they can afford to make the investment needed to have their own commercial kitchen. (304) 862-4800
• West Virginia State University Extension's Recipe Challenge - The innovative Recipe Challenge involves a partnership with WV State University, WV Department of Agriculture, WV State Fair, and Tamarack to develop and expand the specialty food industry in West Virginia. Together these groups prepare a prize package valued at over $10,000 to be awarded to the most promising new food entrepreneur following a judging by food professionals at the annual WV State Fair. The package provides business development support by WVSU and the WVDA and marketing assistance from Tamarack, the state's premier retail outlet for specialty products. There is also an existing entrepreneur category with a prize package valued at over $2000. Contact Mary Legg (304) 619-8111 leggme@wvstateu.edu

I will need to hire and/or training my employees. Who can help me?

• Region 1 Workforce West Virginia provides many resources to both businesses and potential employees. They can provide customized training programs to meet your needs. You can also screen and recruit employees using their infrastructure at no cost to you or your business. They offer many other services that you can view on their website. Please contact Robin Morgan at (304) 255 3932 or email ramorgan@r1workforcewv.org for additional information or assistance.
• Integrated Resources Inc. offers many employee services including employee leasing, temporary employees, and payroll processing. They serve the Wyoming County area and can be reached at 1-800-640-9972 or iri@int-res-inc.com.

Additional Small Business Resources

Travel Beautiful Appalachia Inc. spent many hours compiling the following information relevant to local entrepreneurs. Many thanks to TBAI for creating this comprehensive document.

Regulation and Licenses

1. Employer Identification Number - Internal Revenue Office Required by all businesses that hire employees or operate as a corporation or partnership. Apply by mail, fax, online at www.irs.gov
   • (800) 829-4933
2. Business Name Registration - WV Department of State
   • (304) 588-8000
3. Food Handlers Certification - Wyoming County Health Department
• (304) 732-7941
4. Agricultural Products
• (304) 558-2201
5. WVU Cooperative Extension Service - Home based food business
   • (304) 292-2694 Ext. 3424
6. Contracting Licensing Board
   • (304) 558-7890
   • (887) 558-5134
7. Town or City Business Licenses Local licenses may be required
   • Town of Pineville (304) 732-6255
   • City of Mullens (304) 294-7132
   • Town of Oceana (304) 682-6231

Taxes

1. IRS Offices
   • Beckley (304) 256-6764
   • Charleston (304) 347-5608
2. IRS Tele-Tax Service (800) 829-1040
• Pre-recorded telephone messages provide information on a variety of tax issues.
3. IRS Forms & Publications (800) 829-3676
4. WV State Tax Department (304) 558-3333
• M-F 8:30-5:00pm. (800) 982-8297

Employee Regulations

1. Federal Income Tax Withholding, Social Security Tax, Federal Unemployment Tax
   • IRS-Charleston (304) 347-5608
2. WV State Withholding (304) 558-3333
3. Unemployment Compensation (304) 558-2624
4. Worker ' s Compensation Fund (304) 926-3400
5. OSHA - Occupational Safety & Health Administration (304) 347-5937

More On-line Resources

1. Check on Business or Starting a Business
2. One Stop Business Info for West Virginia
3. WV Small Business Development Center
4. Federal Small Business Administration
5. WV Arts and Crafts Retail Center
6. Online magazine resource for business
7. Online credit report
8. Service Core of Retired Executives - source of sample business plans & other resources
9. Info on Retail Craft Outlet for Showcase WV
10. Information for entrepreneurs with disabilities
11. WV crafts - good for comparison of prices and products.