Accelerated technical assistance and customized research
Louisiana Economic Development’s System for Integrated Growth (SIG)® program provides Louisiana-based small businesses with the information they need to grow and succeed. Through accelerated technical assistance and customized research, the SIG program addresses issues that impact business growth, whether they are internal problems or outside the walls of your company. For example, SIG can help you:
- Explore new markets, create prospect lists for those markets and analyze competitors.
- Enhance your online efforts and increase visibility to potential customers.
- Get a handle on financial management and understand what your books are telling you.
- Prepare to export – from documentation to identifying global markets and setting up distribution channels.
- Bring in best practices on supply chain and operations to complement your managers’ working knowledge.
- Learn how to recruit, retain and develop talented employees.
Eligibility
In order to qualify for the System for Integrated Growth, a business must meet the criteria described below:
- Principal Place of Business – The company must have maintained its principal place of business in Louisiana for at least the last two years.
- Annual Revenue – The company must have annual revenue between $600,000 and $50,000,000.
- Employees – The company must employ at least five but not more than 100 employees.
- Growth – The company must demonstrate growth in annual revenue and/or jobs in two of the last five years.
- External Markets – The company must deliver products or services to customers outside the company’s local market area or demonstrate the capacity to do so.
- Target Industries – Retail stores and restaurants are specifically excluded.
- Lawful Function – The company must be organized for profit to perform a lawful, commercially useful function.
The Process
To take advantage of LED’s System for Integrated Growth and its accelerated technical assistance and research capabilities, complete the online application at Louisiana.systemforintegratedgrowth.org.
Eligibility Scenarios
My business is currently receiving LED incentives. Am I still eligible to participate in System for Integrated Growth?
Yes. Your participation in other LED incentives does not preclude you from receiving assistance through System for Integrated Growth.
I just sold my business to an out-of-state company but continue to operate it from a Louisiana location. Can we receive System for Integrated Growth assistance?
No. Subsidiary companies are considered to be a part of the parent company. Since the parent company is not Louisiana based, it would not be eligible for this program.
My company is looking to expand its business throughout Louisiana but we do not have the capacity to grow beyond the state's borders at this time. Can System for Integrated Growth help me expand only within Louisiana?
Every company is evaluated on a case-by-case basis; therefore, there is not a blanket answer that would apply. System for Integrated Growth supports companies looking to expand outside of their traditional market area, preferably out of state, in an effort to increase and accelerate wealth creation throughout the state.
FAQs
What is System for Integrated Growth?
The System for Integrated Growth is a research-based program that provides virtual access to information tailored to your specific needs. In partnership with the Edward Lowe Foundation, accepted companies are provided up to 34 hours of business assistance focused on strategic growth issues.
What is a second-stage growth company?
The definition of a second-stage growth company can vary somewhat, but it typically refers to a company that has grown past the startup stage but has not reached the point of maturity. It is also a company where the CEO is transitioning out of total control and into a more strategic role while professional managers are added to run key parts of the company. The firm still does not have the capacity to retain a full-scale professional management team. In Louisiana, a second-stage growth company is one with five or more employees, but not more than 100, and has annual revenues that exceed $600,000 but are less than $50,000,000.
What is the cost to participate in the System for Integrated Growth?
There is no cost to participate in the System for Integrated Growth. The program is wholly funded by LED.
What are the services offered through the System for Integrated Growth?
Through accelerated technical assistance and research, an experienced team of experts in their respective fields will provide customized services tailored to meet individual business needs. Following an initial Needs Assessment call where the CEO outlines their current strategy and needs, the SWAT Team of experts begins to provide research reports, best practices and data for the company to implement within its growth strategy. Research areas include digital marketing, human resources, supply chain, market research, sales, finance, geographic information systems (GIS), operations and succession planning.
How long does the program engagement last?
The entire engagement lasts between four and six weeks on average. The length of time is usually determined by factors such as complexity of the issues, availability of relevant research information, and CEO involvement and availability.
How much time should I plan to dedicate to this engagement?
Participation in the roundtables themselves will consist of 10 four-hour monthly sessions, but participants should also plan to dedicate the time required to reflect on roundtable discussions and complete preparation work (homework assignments) for each table.
What is the System for Integrated Growth and how can it help me as the CEO of a growing company?
The System for Integrated Growth (SIG) is an innovative program that addresses small business challenges that impact growth, whether they are internal or external problems. SIG is ideal for companies at pivotal points. For example, even though your company is growing, you may feel overwhelmed – you don’t know what you don’t know. You may need to build a senior management team, but lack employees with in-depth knowledge in certain areas. Or you may be running on all cylinders and ready to take that next step towards increased sales and new markets. Whatever your situation, SIG can provide expertise for continued success.
Small Business Services
Please reach out to LED’s Small Business Services department for more information about the program.