Launching a startup is a monumental task. As many as 90% of startups fail, and two-thirds of them never deliver a positive return to their investors. But you don’t have to face these challenges alone. There are numerous resources to help entrepreneurs with launching a startup, from mentors and government programmes to networking with other founders. Knowing where to look and what kind of support you need can make all the difference.

Whether you’re looking for expert guidance, funding opportunities, or a community of like-minded founders, there’s help out there for you. With the right resources, you can build a strong support system from Day 1. Below, we’ll cover how to get those resources, from finding a mentor and exploring startup accelerators and incubators to determining what professional services to invest in.

What’s in this article?

• Major sources of startup help and support
  
• How to find business mentors for your startup
  
• What government resources are available for startups?
  
• How to join startup accelerators or incubators
  
• How to use online communities for business support
  
• What professional services should you invest in for your startup?
  

Major sources of startup help and support

There are several different types of startup help and support available. Here are some good places to start.

Government programs

• Small Business Administration (SBA): The SBA is a great starting point. It offers free resources such as mentoring, low-interest loans, and grants. Its programs, including Small Business Development Centers (SBDCs), can help you establish your business without unmanageable expenses.

• State and local programmes: Your state or city might have its own support system of grants, tax incentives, or business incubators for startups. It’s worth checking out what’s available where you live.

Startup incubators and accelerators

• Incubators: Startup incubators give startups a workspace, mentoring, and sometimes a little funding. They’re a great way to get support in your early days.

• Accelerators: Accelerators (e.g. Y Combinator, Techstars) are more fast-paced and intense. They’re designed to help you scale quickly, often in exchange for equity. You’ll get mentorship, networking, and often some seed funding to supercharge your growth.

Mentorship networks

• SCORE mentors: SCORE mentors are experienced business pros who volunteer their time to mentor entrepreneurs for free.

• Local business networks: Many cities have groups of entrepreneurs and small business owners who are generous with their time and support. Check out your local Chamber of Commerce or entrepreneur meetups.

Business grants and competitions

• Government and corporate grants: Some grants are available from the government, and big companies such as FedEx and Visa run their own grant programmes. With these, you can gain a nice cash infusion without needing to give up equity.

• Startup competitions: Entering competitions is another way to raise money and build credibility. Some of the biggest ones, such as the MassChallenge and MIT $100K Entrepreneurship Competition, also provide a ton of exposure.

Venture capital (VC) and angel investors

• Angel investors: Angel investors are individual investors (or sometimes groups) that provide early funding in exchange for equity. AngelList is a popular platform for connecting with them.

• VC firms: VC firms are where you go when you’re aiming for major growth. They provide larger investments but expect a return, often quickly. Sequoia Capital and Andreessen Horowitz are a couple of prominent companies in this space.

Crowdfunding platforms

• Reward-based crowdfunding: If you want to raise money from the public in exchange for early access to your product or some perks, you can use sites such as Kickstarter and Indiegogo to begin a campaign.

• Equity crowdfunding: Platforms such as SeedInvest and Republic let you raise funds by offering investors equity in your business.

Professional services and advisers

• Business consultants: Sometimes you need an expert in a specific area – whether that’s marketing, finances, or operations. Hiring a consultant can help you avoid common mistakes.

• Legal and accounting firms: Legal and accounting help is very important. Hiring a lawyer and accountant early on can save you from headaches (and hefty bills) later on.

Co-working spaces and networking events

• Co-working spaces: Co-working spaces such as WeWork provide more than just a desk; they’re a great place to network and swap ideas with other entrepreneurs and freelancers.

• Industry conferences and meetups: Attending industry events or startup weekends can connect you with potential investors, mentors, and even future business partners.

Online learning platforms and resources

• Massive open online courses (MOOCs): Sites such as Coursera, edX, and Udemy offer classes on subjects ranging from entrepreneurship to finance. They’re a great way to develop skills without going back to school.

• Blogs and podcasts: Blogs such as TechCrunch and podcasts such as How I Built This are full of real-world startup stories, advice, and the latest news. They can help you stay inspired and learn from others.

Startup communities and online forums

• Reddit entrepreneur: Reddit has some hidden gems, and the r/Entrepreneur subreddit is one of them. People ask questions, share advice, and help each other troubleshoot real-world business problems.

• StartupNation and the Founder Institute: These online communities provide tools, resources, and a network of like-minded founders who can understand what you’re going through.

How to find business mentors for your startup

Finding the right mentor is all about building relationships. It might take time, but putting yourself in the right environments – whether through networking, joining programmes, or contacting specific people – will eventually connect you with someone who’s a great fit for your startup journey. Here’s how you can find a business mentor for your startup.

Tap into free mentorship programmes

If you’re in the US, consider SCORE. It’s a free, SBA-partnered mentorship network where experienced business professionals volunteer to help entrepreneurs. You can find a mentor who aligns with your industry or business challenges. SBDCs are another SBA-backed resource that provides free or low-cost mentoring to startups. They’re also located all over the US.

Join industry-specific networks

Joining a trade association or industry group can give you access to experienced pros with deep knowledge of your field. On the digital side, use LinkedIn to follow industry leaders, join relevant groups, and actively engage with people who share your professional interests. Building those relationships naturally can lead to a mentorship in the future.

Attend networking events and conferences

Whether it’s a casual startup meetup or a more formal industry event, attending local in-person events can help you meet potential mentors in your area. Look for events where experienced entrepreneurs are likely to speak or participate. Conferences are another great place to connect with knowledgeable people. If you can, attend smaller sessions or workshops where you have a chance to engage more directly with experts.

Apply to business incubators and accelerators

Accelerators such as Y Combinator and Techstars offer mentorship as part of their programmes. If you’re accepted, you’ll be paired with industry leaders who will guide you through the growth stage of your startup. Incubators tend to be more focused on early-stage businesses and provide space, mentorship, and sometimes funding to get you off the ground.

Contact local entrepreneurial groups

Many cities have Chambers of Commerce or entrepreneurial groups with mentorship programmes. These are often local business leaders who are eager to support growing businesses in their community. Local startup hubs or online communities might provide networking and mentorship opportunities, too. Organisations such as the Founder Institute and Startup Grind have programmes for connecting with mentors in the startup space.

Ask for referrals

You’d be surprised how many people in your personal network might have connections to potential mentors. Let people know you’re looking for guidance and you might find that a friend of a friend knows exactly the right person for you to talk to. If you’ve already worked with advisers, consultants, or even investors, they might be able to recommend mentors with the expertise you want.

Look for online mentorship platforms

MicroMentor is a free platform that connects entrepreneurs with volunteer business mentors and is designed to help small business owners with various facets from strategy to finance. Clarity.fm is another platform that lets you book paid calls with experts in different industries and get one-on-one advice. MentorCruise connects startups, often for a subscription fee, with vetted mentors and is focused particularly on tech and business fields.

Use university or alumni networks

If you went to a college or university, your alumni network can be a great place to find mentors. Use alumni directories or LinkedIn to connect with graduates who’ve succeeded in business. Many universities also have entrepreneurship centres or programmes that provide mentoring to alumni and students. Even if you’ve already graduated, they’re usually happy to help.

What government resources are available for startups?

There are quite a few government resources that provide support to startups. Each of them is designed to help you start, grow, and scale your business. Whether you seek funding, mentorship, or tools to help launch your business, consider these options.

SBA

The SBA doesn’t directly lend money, but it backs loans made by banks and other lenders. This makes it easier for startups to access capital. Some popular options include the 7(a) and 504 loan programmes, both of which offer long-term, low-interest loans for business expansion or working capital. If you want up to $50,000 in capital, the SBA microloan programme partners with non-profits to provide smaller loans for early-stage businesses.

Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programmes

SBIR and STTR programmes provide federal grants and contracts to startups engaged in scientific research and development with commercial potential. If your startup is in the tech, medical, or engineering spaces, these are major funding sources for innovation.

There are key differences between SBIR and STTR programmes. For one, if you’re applying for an STTR programme, your small business must be partnered with a non-profit research institution such as a university or a federal laboratory. You can read more about the distinctions here.

Grants.gov

Grants.gov is the central hub for finding government grants across all sectors. Although grants for for-profit businesses can be competitive and less common, they do exist, particularly for innovative, tech-based, or rural startups. Searching regularly can help you catch new opportunities as they become available.

State and local government grants

Many state and local economic development agencies offer grants and funding specifically to support new businesses in their regions. These grants often focus on revitalising local economies, supporting innovation, or encouraging sustainable practices. Check your state’s or city’s economic development website for more details.

SBDCs

SBDCs are SBA-affiliated organisations located throughout the country that offer free consulting and low-cost training for small businesses. SBDCs can assist with many aspects from business plans and market research to funding options and legal requirements.

SCORE

SCORE is a non-profit partner of the SBA that offers free mentoring from experienced business professionals. It’s one of the best resources for new entrepreneurs to get expert advice from someone who’s been in their situation before. You can get one-on-one mentoring, access webinars, or participate in workshops.

Minority Business Development Agency (MBDA)

Part of the US Department of Commerce, the MBDA provides targeted support for minority-owned businesses including funding opportunities, assistance with contracts, and consulting services. It’s a great resource for minority entrepreneurs who want to scale their businesses.

US Department of Agriculture (USDA) Rural Development programmes

The USDA has a variety of programs to help fund businesses in rural areas, including Rural Business Development Grants (RBDGs) and business and industry loan guarantees. These programs promote economic growth in rural areas by supporting new businesses.

State and local economic development agencies

Most states and many local governments have agencies that provide funding, tax incentives, and support programmes for new businesses. These vary by location, but it’s worth exploring what your state or city offers, whether it’s a small business grant, a tax break, or access to an incubator.

US Economic Development Administration (EDA)

The EDA provides grants to communities to promote economic growth, and some of those funds consequently make it to businesses. Although this is more of an indirect route, engaging with regional EDA-funded projects such as innovation hubs and public-private partnerships can prove beneficial.

US Export Assistance Centers (USEACs)

If your startup has international ambitions, USEACs can help you handle exporting. These centres, run by the US Commercial Service, provide guidance on exporting products, offer market research, and even connect you with buyers in foreign markets.

Veteran-owned business programs

The SBA’s Office of Veterans Business Development (OVBD) offers programmes designed to support veteran entrepreneurs with business training, funding, and mentorship. If you’re a veteran, this can be a great route for starting or expanding your business.

How to join startup accelerators or incubators

Joining a startup accelerator or incubator can give you access to the mentorship, funding, and networking opportunities you need to grow your business. Here’s how to get started:

• Research programmes that fit your business: Different accelerators and incubators have different features and areas of focus. If you’re a tech startup, for example, you might be a good match for programmes such as Y Combinator and Techstars. Spend time researching programmes that align with your startup’s focus and growth stage and ensure your business meets any entry requirements.

• Prepare a strong application: Most accelerators and incubators require a detailed application that includes information about your business model, team, and vision. You’ll need to demonstrate both the problem your startup solves and the market opportunity. Having traction – whether it’s early customers, revenue, or partnerships – can boost your chances of acceptance.

• Get ready to pitch: Many programmes require a pitch as part of the application process. This is your chance to show your passion, business acumen, and your startup’s growth potential. Practice your pitch until it’s smooth, clear, and compelling. Focus on what sets your startup apart from others.

• Be prepared for intensity: Once accepted, expect an accelerator or incubator to be a high-energy, fast-paced environment. You’ll gain access to valuable resources, but there’s often a time limit to develop your product and a push to scale quickly.

How to use online communities for business support

Online communities offer startup founders several benefits from advice and mentorship to networking opportunities. Here’s how to use them effectively:

• Find the right platforms: There are many online forums and groups where entrepreneurs gather, but you should focus on the ones that fit your needs. Reddit’s r/Entrepreneur, Indie Hackers, and StartupNation are good places to start. Look for communities where people are actively discussing challenges and solutions relevant to your industry or startup phase.

• Engage in discussion: It’s easy to sit back and read other people’s posts, but you’ll get more value by engaging. Ask thoughtful questions, share your own experiences, and contribute advice where you can. This builds relationships and a mutually beneficial community.

• Learn from your peers: One of the best aspects of online communities is learning from those who’ve been through similar experiences. You’ll find discussions on topics like raising funding, hiring teams, or handling legal challenges. Take notes on what did or didn’t work for others in similar situations.

• Stay consistent: Regularly check in, participate, and build connections. This will help you both solve problems and create long-term relationships with other entrepreneurs who can become valuable contacts in the future.

Which professional services should you invest in for your startup?

When you’re launching a startup, certain professional services are worth the investment to avoid costly mistakes later. Spending wisely on these services can keep your business legally protected, financially organised, and positioned for growth from the outset. Here’s where you should prioritise spending:

• Legal services: From creating your business structure (e.g. a limited liability company, corporation) to drafting contracts and protecting your intellectual property, the right legal help can make or break your startup. It’s tempting to use templates or do it all yourself, but asking a lawyer to review and create important documents can save you from legal issues in the future.

• Accounting and financial services: An accountant can help you implement a solid bookkeeping system, manage taxes, and advise on financial strategy. Whether they’re managing cash flow, tax compliance, or fundraising, an accountant can be a valuable asset.

• Marketing and branding services: Investing in branding (e.g. your logo and website) and marketing strategy can set your business apart from competitors. Marketing consultants can also help you refine your customer acquisition strategy and target the right audience.

• IT and tech support: Investing in an IT expert to handle website development, cybersecurity, and tech support can keep things running smoothly and help prevent major tech-related setbacks.

• Business consulting: It can also be worthwhile to hire a business consultant in any area where you might feel out of your depth, whether that’s scaling, operations, or market entry. These consultants provide specific expertise to help you avoid mistakes and improve your startup’s chances for success.