Partnering with the Oregon Business Development Department can provide a plethora of benefits for businesses. For those not familiar, the Oregon Business Development Department (OBDD) is a government agency that provides services to help businesses start up, expand, or locate in Oregon. In this article, we will explore the ways in which partnering with the OBDD could benefit your business.
Access to Funding Opportunities
One significant advantage of partnering with the OBDD is access to various funding opportunities and grants. The department has a range of programs that support businesses in different stages of development. For example, the Small Business Expansion Program provides low-interest loans to qualified Oregon businesses; the Entrepreneurial Development Loan Fund (EDLF) provides loans to help entrepreneurs start or grow their businesses, and the Oregon Growth Board Venture Capital Program provides support for high-growth businesses.
Networking Opportunities
Another benefit of partnering with the OBDD is the chance to take advantage of its vast network of businesses. Working with the department allows your business to tap into the network and engage with other companies, industry experts, and government officials. This can lead to potential partnerships, new business opportunities, and more significant exposure for your brand.
Navigating Regulations and Compliance
Navigating regulations and compliance requirements can be challenging for many businesses. In Oregon, partnering with the OBDD can simplify this process as the department provides consultation services to businesses seeking to address regulatory matters. Their expertise can help businesses navigate and comply with regulatory requirements, making it easier to avoid penalties or delays.
Industry Insights
Partnering with OBDD can provide your business with valuable insights into the latest trends and opportunities in your industry. The department works in close collaboration with stakeholders, including industry trade associations, to stay up-to-date and informed about current and future trends. This information can be translated to your business, helping you make meaningful decisions that will drive growth and competitiveness within your industry.
Case Study: Votion LLC
Votion LLC, a marketing company in Beaverton, partnered with the OBDD starting in 2016. Working with the department helped Votion LLC secure a grant to expand to new offices, develop new marketing strategies, and obtain additional funding for their business. Additionally, the partnership helped Votion LLC navigate the regulatory environment, particularly in the area of employment law.
In conclusion, partnering with the OBDD can provide Oregon businesses with significant opportunities and benefits. Whether it’s funding opportunities, networking, navigating regulations and compliance, or gaining industry insights, the OBDD can provide consultation and guidance for businesses looking to grow and succeed in Oregon. By partnering with OBDD, your business can gain a powerful ally that will help you thrive and become more competitive in your respective industry.
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