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Columbus strengthens support for small business

By July 24, 2013July 24th, 2014No Comments

Columbus — In 2012, BREAD called for an expansion in small business support to address stagnant unemployment in the City of Columbus. Research had shown that while nationwide small businesses accounted for two-thirds of all new jobs Columbus lagged behind, with small businesses only accounting for fifty percent of new jobs. BREAD researched programs that had been proven to increase small businesses and increase access to capital, particularly in underserved communities. BREAD presented a plan to expand small business incubators and a small business loan fund to City Council. Four City Councilmembers attended the Nehemiah Action with nearly 3,000 people in attendance in 2012 and committed to working with BREAD leaders. Shortly after the Nehemiah Action in 2013 with 3,268 people in attendance, Columbus City Council allocated $2.1 million to add four small business incubators in underserved communities and to create a dedicated small business loan fund to improve availability of much needed capital.