The Chester County New Business Champions Microgrant Program has achieved a remarkable milestone, surpassing a total of $266,000 in funding over its four-year duration. This initiative has offered crucial professional services support to 175 emerging business owners in Chester County, Pennsylvania, highlighting the program’s commitment to fostering small business growth.
Established to assist small businesses during their formative stages, the microgrant program is a collaborative effort supported by the Chester County Workforce Development Board and the Pennsylvania Department of Labor and Industry. It is administered by the Chester County Economic Development Council. According to Mike Grigalonis, president and COO of the Council, the initiative aims to provide essential support that helps stabilize and grow new enterprises.
Since its inception, the program has allowed small businesses to apply for funding of up to $2,000 for various professional services. These services encompass a broad range of areas essential for business success, including business plan development, accounting, technology, marketing, human resources, and customer development. To date, a total of 263 business owners have submitted applications for support.
In the most recent round of funding, 53 applicants vied for microgrants, with 26 businesses awarded grants. The recipients represent diverse sectors, including food service, health and wellness, and fashion design. Once selected, grantees are paired with professional advisers who specialize in their highest priority areas of need.
“Getting a business off the ground is challenging,” said Grigalonis in a statement. He noted that participant feedback consistently highlights the significant positive impact of the tools, guidance, and mentorship provided through the program on their future success.
Chester County Commissioners Josh Maxwell, Marian Moskowitz, and Eric Roe emphasized the program’s value extends beyond financial assistance. They stated that it opens doors to professional expertise that small-business owners may not recognize they need until they face challenges. The commissioners underscored the importance of being proactive in setting businesses up for sustainable success.
“The partnership between Chester County’s Workforce Development Board and CCEDC exemplifies the meaningful support provided to our local economy through this microgrant program,” the commissioners added.
Eligibility for the New Business Champions Microgrant Program is limited to businesses established within the last five years that operate in Chester County and employ ten or fewer individuals. Special consideration is given to business owners who are socially or economically disadvantaged.
While applications for the program are currently not being accepted, aspiring entrepreneurs can learn more about the initiative by visiting the Chester County Economic Development Council’s website at ccedcpa.com/new-business-champions. The program continues to play a pivotal role in supporting the growth of small businesses in the region, fostering a vibrant economic landscape.
