Substantial Support for Local Businesses
At a recent session of the Covington Board of Commissioners, Jamir Davis, the producer of the Small Business Technical Assistance Program, highlighted the significant support extended to local businesses through this initiative. Funded by the American Rescue Plan Act (ARPA), this program has successfully facilitated the establishment of 13 new companies, held over 75 in-depth discussions with entrepreneurs, and aided more than 30 businesses in stabilizing post-COVID. This concerted effort underscores the town of Covington’s commitment to revitalizing its economic landscape in partnership with Northern Kentucky Community Action.
Comprehensive Assistance for Sustainable Business Growth
The assistance program offers a myriad of services aimed at empowering businesses for future challenges. These include help with local licensing, compliance with state regulations, and access to capital. Additionally, businesses benefit from extensive training in financial management and assistance in updating their business plans to enhance profitability and secure funding for growth. This strategic support is designed to build a robust foundation for businesses, enabling them to thrive in a competitive market.
Community and Commissioner Engagement in Business Revival
During the discussions, Davis shared insights into the personalized consultation process that helps businesses refine their strategies by understanding their product value, pricing, and customer interactions. The positive feedback from Commissioner Ron Washington highlights the program’s critical role in supporting businesses during challenging economic times, emphasizing the collective efforts of the socio-economic development team in safeguarding the interests of small businesses in Covington.
This narrative encapsulates the essence of the ARPA-funded program’s impact on local businesses in Covington, emphasizing both the strategic and human elements involved in economic recovery and development.