Tomorrow is the deadline! Share this information with any D1, D5, D6, D7, D9businesses who could benefit:
Council President Darrell O’Quinn, President Pro Tem Wardine Alexander and Councilors Clinton Woods, Crystal Smitherman and LaTonya Tate all contributed $27,500 from their office’s American Rescue Plan Act funding. The Penny Foundation will disperse more than 11 business grants per district in contributions of $1,000 and $2,500 to each organization. The initiative is aimed to assist small businesses respond to the negative economic impacts of the COVID-19 public health emergency.
Proposed use of the grants include:
• Portion of costs to retain employees.
• Mortgage, rent, utilities.
• Design services for future building improvements and developments.
• Building improvements and developments.
• Business Capacity Building – Adaptation
• Other operating costs.
“It’s hard to imagine where we would be as a society without small businesses that are owned and operated by members of our community,” Council President Darrell O’Quinn said. “It’s no secret that these businesses have faced unprecedented challenges during the COVID-19 crisis and beyond. It’s crucial that we continue to rally behind these resilient entrepreneurs, providing them with the support and resources they need to rebuild and thrive once again. Investing in small businesses isn’t just an economic imperative; it’s an investment in the heart and soul of our communities.”
Eligible business applicants must:
• Own a small business with a valid business license in Birmingham’s District One, District Five, District Six, District Seven, or District Nine.
• Be currently active and open for business, and able to show proof of operation before February 15, 2020.
• Agree to implement proposed services or upgrades within one month of the awarded grant.
• Have less than 25 employees (micro-business or small business).
And welcome to today's Central Alabama Business Break. I'm Nicole Allshouse, joined by Lord Watson and Councillor Smitherman talking about the Penny Foundation. Let me ask both of you, the Future Ford Fund, how does it work and how does it help our local small businesses? Yes, in 2020 we have small business come to the foundation concerned about resources. And so that's fun. Fun was set aside since 20/20/21 in order to support those businesses in in communities. OK And this city is is fully behind this. Yes, yes ma'am. So the pandemic had detrimental effects for everybody, especially small businesses and so the city wants to know that we are continuing to support them. We know there are a lot of long term effects that these small businesses are still feeling. So hopefully this will give them a leg up and give them more economic mobility. That is awesome for all the small businesses out there. How does the current grant cycle work and who can apply so the current current cycle works like this. Anybody who has a business in District one, District 567 or nine can apply for for funds from. To forward, you just have to have any business prior to February 15th of 2020 and have a current Birmingham City business license. Perfect and councillor. What can businesses use this funding for really for any shortfalls they're experiencing, from mortgage to rent to building designs, other operational costs? OK, and every penny helps. So once the application process closes, how does community involvement play into this? Yes, well you can go to the website and you'll be able to vote for your favorite business using a. E-mail address. That's awesome. So you can vote at home. Don't forget to write that website down at the bottom of your screen. How and when will winners be announced? And when we announced at the end of the month, I'll February 29th, we will have a reception that will announce all the winners. OK. So February 29th, the bottom line, small businesses and you've got to live in the districts that Mister Watson specified. And everybody can get a little help. That's awesome. Yes, ma'am. Thank you both so much for being here. Thank you. Of course. The Penny Foundation.
Resources and grants to support small business owners!
St. Louis Park recognizes that businesses are essential for a strong local economy. Here are some resources to help businesses succeed:
📌 Business Council – The St. Louis Park Business Council meets the first Thursday of each month.
📌 Elevate Hennepin – Through this program, businesses can access no-cost advising, find business events and identify business-support services.
📌 GreaterMSP – A regional economic development agency that promotes job creation, provides regional marketing and assists in business expansion and recruitment.
📌 Minneapolis Regional Chamber – Works to improve the business environment and provides networking and professional development services.
📌 Minnesota Department of Employment and Economic Development (DEED) Small Business Hub – One-stop-shop for all of DEED's resources for small business including financing, starting a business, resource guide and expansion assistance.
📌 Open to Business program – Free, one-on-one, confidential business consulting to help entrepreneurs gain access to technical assistance and financing options.
📌 Small Business Development Center, University of St. Thomas – Provides no-cost business consulting to help develop business plans and strategies, attract customers, increase sales and improve profitability.
📌 SCORE – Provides free and confidential advice to entrepreneurs and small business owners in every industry.
📌 Grants.gov – A federal government website that collects and lists various grant opportunities for businesses, non-profits and local governments.
📌 CHIPS Act – Funding programs and tax credit opportunities.
📌 Small Business Administration – 7a lending program for small-business capital needs.
Learn more at https://lnkd.in/gvgnnN7Y#SmallBusiness#SmallBusinessOwners#SmallBusinessHelp#StLouisParkMN
Today, the U.S. Department of the Treasury announced the approval of Washington, D.C.’s plan for up to $62 million in funding under the American Rescue Plan’s State Small Business Credit Initiative (SSBCI). The funding will be used for increasing technical assistance funding to support small businesses and entrepreneurship and expand access to capital.
Deputy Secretary of the Treasury Wally Adeyemo stated, “The State Small Business Credit Initiative is helping to unlock the potential of entrepreneurs in underserved communities in the District of Columbia and across the nation who may have otherwise never had the support needed to pursue their business ideas and ambitions.”
Learn more: https://lnkd.in/eEDjUZTB#accesstocapital#funding#smallbiz#microbiz
When small businesses thrive, we all thrive, but we're nowhere near where we need to be. A recent article in the Boston Business Journal, co-written in part by our CEO, Betty Francisco, talks about the major challenges small businesses face. Data provided through the MA Small Business Survey by the Coalition for an Equitable Economy.
Here's the things:
➡ 50% of small businesses throughout Massachusetts say interest rates are a key challenge (up from 15%)
➡ 27% say unfavorable repayment terms are a barrier (up from 10%)
➡ 61% of small businesses say they have one or more positions open, and cost of living and housing are a barrier
➡ Challenges are greatest among businesses owned by Black and Latino entrepreneurs
Here's the solution:
✅ Compete for small businesses to start, stay and grow in the state and maintain our skilled workforce
✅ Expanding funding for business development and expansion efforts through flexible, low cost debt, structured equity and grants
✅ Addressing housing affordability
✅ Establish a technical assistance support system that provides small businesses with coaching, education, advisory services, and networking opportunities
Read the full article:
https://lnkd.in/eQJzKAEy
ICYMI: #SmallBusinessNews#SmallBusinessGrants In the News: Get Up To $35,000 In Small Business Grants: From Verizon to local communities you can get up to $35,000 in small business grants for operational expenses, refurbishments, and more.
🇺🇸 Calling all veteran entrepreneurs in Oregon! 🇺🇸
If you've served our country and are now running a small business or have dreams of starting one, check out these valuable resources to support your journey. Learn about business plans, financing, government contracting, and more. Here's a snapshot, and for the full scoop, visit our blog post: https://lnkd.in/gEMUsJyE
🌐 National Resources:
Veteran Entrepreneur Portal (VEP): Tools, resources, and guidance from the Department of Veterans Affairs.
Office of Veterans Business Development (OVBD): SBA programs and services for starting, growing, and expanding businesses.
Vets First Verification Program: Get certified for advantages in government contracting opportunities.
🌲 State and Regional Resources (Oregon):
Oregon SBDC: Training, advising, and specialized programs from startup to succession planning.
Business Impact NW: Nonprofit offering training, advice, and support for underrepresented communities.
Oregon.gov: State-level resources for certifications, financing, and understanding procurement processes.
Oregon COBID: Special access to government contracts for those with a VA disability rating.
Your service has earned you these benefits—make the most of them! 🎖️💼
#VeteranOwnedBusiness#OregonBusiness#SmallBiz#BusinessResources
Forbes 50 Entrepreneurial CMOs | Global Leader | Insights/Analytics/Customer Experience | Start Ups and Transformation | Coach and Mentor | Board Member and Advisor
Small business is the backbone of our economy. Predictability, stability, and a belief in the future are all necessary ingredients to keep entrepreneurs and small-business owners confident enough to take the risk in building new companies. Small businesses are responsible for the majority of new job creation over the past decade. Policies that support small business generation are key to economic growth for the middle class and our local communities.
Veteran Manager with 27+ Years in Guest Services | Crafting Unforgettable Experiences in Entertainment | GM at Cinemark | Entrepreneur at ClassicCountryTees.com & Marvis.Life
🚀 #SmallBusinessBoom 🚀
As we embrace the winds of change, it’s time to celebrate the entrepreneurial spirit that’s fueling America’s economic resurgence! The latest #WhiteHouseReport reveals a nation thriving on innovation and grit, where small businesses are not just surviving; they’re leading the charge!
🌟 Highlights from the Biden-Harris Small Business Boom Report - April 2024 🌟
#AccessToCapital: Over $300 billion in loans and equity investments are energizing small businesses, with a commitment that stretches to the end of the decade.
#FederalSupport: Navigating federal programs has never been easier for both budding and seasoned entrepreneurs.
#ProcurementPower: Billions in federal procurement, infrastructure spending, and R&D funding are now within reach, propelling small businesses to new heights.
#TaxReform: Leveling the playing field, the tax code reform ensures fair competition, empowering small businesses to stand tall against corporate giants.
📈 The result? An unprecedented surge in new business applications, with a record 17.2 million filed! We’re witnessing the strongest labor market in decades, with small businesses at the helm of job creation.
🤝 #CommunityImpact: Small businesses are the heartbeat of our communities, and the growth is palpable. With Black business ownership at a 30-year high and Latino business ownership soaring, diversity is our strength.
🔍 #Innovation: Every new business is a beacon of hope, a testament to the confidence in our economy. The Biden-Harris administration’s unwavering support has sparked the first, second, and third strongest years of new business applications on record.
💡 #Entrepreneurship: It’s a golden era for entrepreneurs, with the government backing 7,700 loans to Latino-owned businesses alone, totaling an impressive $3 billion.
🏆 #SmallBizSuccess: This isn’t just a boom; it’s a movement. A movement where small businesses are not just participants but champions of an economic renaissance.
🔗 Dive into the full report and join the celebration of American entrepreneurship: https://lnkd.in/gYRvsZSi#BidenHarrisAdministration#EconomicGrowth#EntrepreneurLife#BusinessStrategy
The City of Alexandria said there’s $7,000 in assistance available through a grant program to any qualifying local small business.
Eligible businesses can receive up to $7,000 in grants through the 2024 Small Business Resiliency (SBR) Grant program. The program aims to assist businesses in overcoming challenges in accessing essential resources. Administered by the Latino Economic Development Center (LEDC), this initiative underscores the City’s commitment to empowering entrepreneurs and nurturing a thriving business environment.
The eligibility requirements are:
a) Have one or more location(s), including the principal place of business, in the city of Alexandria.
b) Have 100 or fewer employees.
c) Have been established and revenue-generating before December 31, 2023.
d) Have business revenue in 2022 or 2023 that did not exceed $250,000.
e) Be in “good standing”
f) Be current on all local taxes or have a payment plan with the City of Alexandria. Not currently in any bankruptcy proceedings.
Non-profits, banks, financial institutions and gig economy contractors are all ineligible, as are corporate-owned locations, branches, subsidiaries and franchise businesses unless those businesses are wholly owned and operated within the City of Alexandria.
Applications are prioritized by those that have not previously received federally funded City grants and those located in census tracts with low indicators of economic activity.
Applications will be accepted through the LEDC website from Tuesday, May 28, through Tuesday, June 18.
A virtual webinar ( https://loom.ly/FgSR4pE ) about the program is scheduled for Thursday, May 23, from 4-5 p.m. An in-person meeting is scheduled for Monday, June 3, at the Charles Houston Recreation Center (901 Wythe Street).
Learn More About the Grant: https://lnkd.in/eUCWMTDM
There hasn't been a better time to get into federal contracting than NOW!
Dilawar Syed, SBA Deputy Administrator could not have said it better, "All of this is happening in an environment where we are investing in the country at a level that we haven't done in decades."
Listen to the interview to learn how government policy create opportunities for small business owners!
#smallbusinessowners#procurement#WOSB#SDVOSB#8abd#HUBZone#SDB#smallbizgrowth#entrepreneur