Central Alabama is home to small and microbusinesses that drive the local economy . From lawn care services and local bakers to solo practice physicians , lawyers or CPAs , these solopreneurs bring vitality to the community . But they aren ’ t doing it alone .

In my 20 plus years in the industry , I ’ ve seen how critical strategic partnerships are to their business success . Solopreneurs often rely on trusted advisors who offer guidance and reassurance during challenging times .

Based on my experience , here are three key ways strategic partnerships contribute to small business success :

Engage with the Chamber of Commerce . Your area Chamber of Commerce is a vital resource for solopreneurs . It provides resources and a network of peers and professionals to partner with , acting as a think tank for ideas and learning . Joining the Chamber fosters a sense of community and shared purpose , enhancing the overall support system for small businesses . In addition to networking , they offer volunteer opportunities and community

involvement , which help build relationships while giving back .

Leverage financial opportunities designed for small business . Securing financing is one of the most common pain points for solopreneurs . Fortunately , various government programs and local resources can help .

• Community Development Financial Institutions ( CDFIs ) provide credit or financing to underserved populations with more flexible requirements than traditional lenders .

• Small Business Association ( SBA ) loans offer alternative financing options when traditional financing may not suffice . Valley Bank has experienced bankers who can help businesses secure SBA loans and facilitate access to these resources .

• Local governments often provide resources for small , minority-owned businesses , such as Montgomery County ’ s Minority , Female and Disabled-Owned Businesses ( MFD ) Program .

These resources help solopreneurs overcome financial challenges and achieve growth .

Build a team of financial advisors . Small businesses require trusted professionals , including an attorney , a certified public accountant ( CPA ) and a trusted banker . These advisors effectively manage finances and support growth . As businesses expand , they encounter banking needs , risks and financial obligations that require access to resources . Your banker should live , play and serve in the community in order to offer on-ground insights and knowledge related to the daily challenges solopreneurs face .

Fraud protection is a major concern among small businesses , especially when every penny matters in the growth process . A financial institution with strong robust anti-fraud measures demonstrates a commitment to safeguarding its clients ’ interests .

At Valley Bank , we believe in building strong relationships to help your small business succeed . Leveraging local resources , engaging with community organizations and forming strategic partnerships can help you overcome challenges to achieve lasting success .

Jason K . Gardner is

SVP , Market President

at Valley National

Bank and has been in

the industry for over

20 years .

This article is intended for educational purposes only . Statements of fact and opinions expressed are solely of the writer and , unless expressly stated to the contrary , are not the opinion or position of Valley Bank . Additional terms and conditions apply for certain products and services mentioned . All loans products are subject to credit approval . You should consult your own tax , legal and accounting advisors before engaging in any transaction .

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