Problem:
Aspiring small business owners and entrepreneurs within the local communities of credit unions need
support and assistance. The success rate of startups, small businesses, and entrepreneurs trying to figure
out the best way to make their business dreams a reality is abysmal:
According to the U.S. Bureau of Labor Statistics, 20% of new businesses fail during the first two years, 45%
during the first five years, and 65% during the first ten years.
Innovative Solution:
BizNest provides a "one-stop-shop" small business incubation resource for new and aspiring businessowners. This solution is an app-based platform that fosters entrepreneurial engagement and community at
self-accommodating levels for its users. BizNest also offers learning materials and content, the ability to
connect with vetted lending partners, and opportunities to form relationships with willing mentors. Along with all this, BizNest also features a document repository focused on providing needed documents that aid in starting a small business. BizNest also has an area dedicated to providing contact information and
opportunities to engage BSPs (business service providers).