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Friday, January 6, 2017

How Wisconsin Continues to Help Minorities Pursue Their Dream of Starting Their Own Business

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Wisconsin Economic Development Corporation (WEDC) spokesperson, Mark Maley, recently stated “Sometimes minorities face unique challenges in obtaining financing and getting started, and we just want to make sure that they have the support they need to pursue their dream of starting their own business and growing their business.” This promise is backed by $585,000 in grants for minority-owned businesses.

The $585K will go to five organizations, The Business Council and Wisconsin Chambers of Commerce for Africans, American Indians, Hispanics and Hmongs, who in turn will use the funding to help startup minority businesses get started. Grants will also include mentorship and training that will increase success rates for minority-owned small businesses.

There are plenty of small businesses in under-served areas that add jobs to their communities. Money is a challenge for them, and grants are one of the most important things WEDC can supply that will ensure their businesses get off to a running start.

Last year's WEDC grants helped businesses obtain $5.9 million in private loans, which is expected to create or keep 200 jobs. Since many of these businesses are in areas that are below the poverty level, funding from WEDC is not only good but essential to their starting and growing their own businesses.

WEDC is public/private agency funded by the state of Wisconsin with the main goal of promoting economic development in Wisconsin. As Mark Maley explained it, WEDC’s priority is making sure there are opportunities for entrepreneurs everywhere in the state."

Read more at badgerherald.com/news/2016/12/15/wedc-grows-grant-program-to-aid-minority-businesses-in-wisconsin/
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