With more than 90 percent of businesses in the Commonwealth of Kentucky having fewer than 50 employees, small
businesses are essential to Kentucky’s economic vitality. That’s why the Cabinet for Economic Development’s
Small and Minority Business Branch (SMBB) is dedicated to assisting all small businesses in Kentucky, both
start-up and existing, including:
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Microenterprises (companies with 5 or fewer employees)
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Women-owned companies
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Veteran-owned companies
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Minority-owned companies
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Companies located in economically challenged areas
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Companies owned by individuals classified with disabilities
We can offer you the tools you’ll need to take your company to the next level. Some of our services include:
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Free, one-to-one business consultation
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Referrals to federal, state, and local business programs and services designed to help small businesses
start up, expand operations and hire employees
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Training programs on key topics of importance to the small business community
We can also provide assistance in the following areas:
Need to learn more about our loan programs?
We’ll be happy to lead the way.
Every business starts out small – even Kentucky’s largest corporate superstars were unknown when they began.
So, let us roll out the red carpet for your small business because when it thrives, Kentucky thrives. For
additional information or assistance, please email Mark Johnson
(MarkL.Johnson@ky.gov), Branch Manager, or call toll free 1-800-626-2250.
The Kentucky Small Business Investment Credit Program
The Kentucky Small Business Investment Credit (KSBIC) program is designed to encourage small business growth and job creation by
providing a nonrefundable state income tax credit to eligible small businesses hiring one or more eligible individuals and
investing at least $5,000 in qualifying equipment or technology. The
KSBIC Fact Sheet provides an overview of
the program.
With certain exceptions, most for-profit businesses with fifty or fewer full-time employees are considered eligible small businesses
for this program. More detailed information on qualifying small businesses, eligible positions, qualifying equipment and technology,
time frames for applying, determination of eligible tax credit amounts, and other important program information can be found in the
KSBIC Guidelines.
Applications for the KSBIC program will be accepted beginning in January 2011. A complete application consists of the
KSBIC Application and all required
supporting documentation listed in the application form. Submission of an application does not guarantee receipt of a tax
credit. The KSBIC program is limited to allocating a total of $3,000,000 in tax credits per state fiscal year (July 1 to June 30).
This program cap may prevent some otherwise eligible businesses from receiving a tax credit.
Tax credits approved under this program must be claimed on the tax return for the taxable year during which the credit was approved.
Unused credits may be carried forward for up to five years.
The KSBIC Fact Sheet, Guidelines and Application are subject to change until the program regulation has been approved by the
Legislative Research Commission.
For more information about the Kentucky Small Business Investment Credit program, please contact Mark Johnson at
MarkL.Johnson@ky.gov or call 800-626-2250.
Additional Resources: