Wilmington a winner in SBA’s StartUp in a Day competition
Wilmington is one of the 28 winners of the U.S. Small Business Administration’s “StartUp in a Day” competition, an initiative designed the help locales streamline their licensing, permitting and other requirements.
The goal is to allow entrepreneurs to start a business in one day.
Wilmington has promised to streamline its permit and licensing process in order to make that possible.
SBA Delaware District Director John Fleming said, “This is great news for Wilmington. The SBA is proud to support this initiative, which will improve the time required, and complexity of starting a business in the city. Denita Thomas at the City of Wilmington did a fantastic job making a compelling case for Wilmington to be among those receiving the grant. Here at the local SBA office we look forward to being a part of the program.”
When announcing Startup in a Day idea, President Obama said, “I’m calling on city halls across the country to join the initial 11 mayors in a simple but powerful pledge to entrepreneurs and small business owners: If you want to start a business, we’ll make it so easy to navigate the license and permitting system online, that you’ll be off and running within 24 hours.”
Technology now makes it easy and inexpensive to create online license and permitting tools that meet SBA’s Startup in a Day challenge.
Wilmington and 26 other locales received prizes of $50,000 in
The SBA reviewed more than 100 applications, and applicants of both competitions were awarded priority points for being rural/non-metropolitan, high poverty, a Veterans Economic Community, and/or a Promise Zone.
New business formation in the U.S. is experiencing a decades-long decline, with entrepreneurs citing red tape as a chief obstacle. The U.S. ranks 46th—down from 41st last year—on ease of starting a business, according to the World Bank.
“When I started my businesses, it was overwhelming,” said Administrator Maria Contreras-Sweet, head of the SBA. “I had to set up a legal structure, find office space, learn local zoning laws, apply for multiple licenses and permits and navigate a maze of city, county, state and federal requirements before I could even open my doors. That’s why I’m proud to join the White House in announcing the winners of the Startup in a Day prize competition as we work to make it easier for entrepreneurs all across the country to get started.”