A roundtable discussion among small business owners and government representatives in New Castle Friday focused on minority businesses.
Sen. Chris Coons joined the roundtable to hear about resources for minority owned businesses available through the Small Business Administration.
“It is easier to start a business than it is to maintain one," he says. "And we are still coming out of what has been the biggest moment of business and economic and community interruption in decades, the pandemic. We heard a number of challenging, even heartbreaking stories today, of persistence and determination in the face of real challenges during the pandemic.”
Coons says small business makes up the vast majority of all businesses, and keeping them alive is crucial for the job market.
“Delaware is blessed to have some great resources in terms of supporting small businesses," Coons says. "But having small businesses thrive and grow is a real challenge. So I would encourage anyone who is listening or reading to consult with them before starting a small business or if you are struggling to sustain your small business.”
Coons says Delaware is directly reaching out to Black and Brown-owned small businesses through TrueAccess Capital, a Community Development Financial Institution. And SBA Delaware Director Michelle Harris says the Community Navigator Pilot Program aims to reduce barriers underserved communities face.
“We also have our new Community Advantage Program which is also a financing program designed to help minority business owners with streamlining eligibility requirements and micro-financing, micro-loans, to help the smallest of the small businesses,” Harris says.
Harris urges any small business owners to explore SBA’s free resources, and adds SBA helps connect a network of small businesses that can support each other.
