Startup Talk: Little Rock Lands In Top 10 Cities With Lowest Startup Costs

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LITTLE ROCK LANDS IN TOP 10 CITIES WITH LOWEST STARTUP COSTS
Little Rock has landed among the top 10 U.S. cities with the lowest startups costs in the seventh spot, mainly on the strength of the lowest business filing fees and energy costs for nearly all 50 states, according to a new report by financial technology company SmartAsset.

Besides the low costs to submit the necessary paperwork to become an LLC, Arkansas ranks near the top in annual utility costs compared to most U.S. cities, For instance, total yearly costs of gas and electricity for a business with a 1,000 square foot office in Little Rock would be around $1,546, representing savings of several hundred dollars per year as compared to most of the other cities in the study.

To find the cities with the lowest startup costs, SmartAsset collected data on the typical costs of starting and running a business in 81 of the largest cities in the country. The total expected startup costs over the first year of operation for a company in each of these cities were calculated by factoring in expenses for office space and utilities, filing and legal and accounting fees, and payroll expenses.

SEC TO HOLD MEETING, WEBCAST ON CROWDFUNDING
The Securities and Exchange Commission’s Advisory Committee on Small and Emerging Companies held a meeting Wednesday (Sept. 23) to discuss adoption of recommendations related to intrastate crowdfunding and the treatment of so-called “finders” that assist companies in capital raising activities.

“I am pleased that the advisory committee is moving forward with recommendations on these important topics,” said SEC Chair Mary Jo White. “Having pointed input from the small business community and the public is essential as we continue our efforts to facilitate capital formation.”

The advisory committee provides a formal mechanism for the SEC to receive advice and recommendations on privately held small businesses and publicly traded companies with a market capitalization less than $250 million.

The meeting, which was webcast, can be found on the SEC’s website, www.sec.gov, and will be archived on the website for later viewing.

DWS ANNOUNCES ARKANSAS’ FIRST INFORMATION TECHNOLOGY APPRENTICESHIP PROGRAM
The Arkansas Department of Workforce Services, in partnership with the Arkansas Apprenticeship Coalition (AAC), launched Arkansas’ first information technology apprenticeship program, which will teach computer coding and other technology-based skills.

The program, which is being funded through the Arkansas Sector Partnership grant recently awarded to ADWS by the U.S. Department of Labor, was created in response to a high employer demand for employees with advanced IT skills. According to Arkansas’ 2015-2016 Hot 45 Demand Occupations, a recent publication produced by the Labor Market Information division of ADWS, Computer Systems Design and Related Services is one of the top 10 industries in Arkansas, and four of the top 45 demand occupations are within the IT field.

AAC is currently accepting applications for the Little Rock area. For more information, contact Karen Breashears at 870.246.0320 or [email protected].

SILICON VALLEY BANK, MASTERCARD INITIATE FOUR-MONTH VIRTUAL PROGRAM FOR STARTUPS
Silicon Valley Bank and Mastercard are inviting startups from across the United States to apply for Commerce Innovated, a program designed to help companies that are working in payments, fintech and commerce to grow their businesses. Commerce Innovated is a four month virtual program that provides startups with the resources to help refine and scale their solutions through access to operational and industry expertise from Silicon Valley Bank, MasterCard and their respective networks.

Commerce Innovated launched in 2014 and has worked with 15 commerce-focused startups to date, including Apruve, AppZen, CardFlight, Dash, Footmarks, Gone!, Nowsta, PayByGroup, Penny Owl, Local Maven, SnapUp, SpendLabs, Standard Treasury, Splitwise, and Slide. Applications for the next Commerce Innovated class can be submitted by Oct. 11. Companies do not need to be current clients of Silicon Valley Bank or MasterCard to apply.

The program will begin in November and is open to early-stage companies meeting certain criteria, including creating a solution that is helping to make commerce easier, safer or better for consumers or businesses; have a strong, small core team dedicated to the mission; secured or raising seed funding; and have a working product. Full program details and an online application are available at www.commerceinnovated.com.