FAMU launches new small business assistance program
TALLAHASSEE, Fla. (WCTV) – A boost for small businesses is coming to the capital. FAMU is launching a new program to help women and minority entrepreneurs get on the right track.
According to FAMU, the university received a $ 100,000 grant from Wells Fargo Bank to fund staff support, mentorship and a “commercial navigation” guide. The money will also help provide shared offices for start-ups.
The past year and a half has been difficult for small business owners. Especially those belonging to women and minorities.
The University explained that companies that have gone through these incubation programs have an 87% survival rate in the first five years.
William Coleman has been building his business in Tallahassee for about a year. It is a computer consulting company called “Blackout Solutions LLC”.
Coleman explained that this past year has been very stressful.
âCOVID, restrictions, but it also gave opportunities to put things in perspective. As I went from working for someone else to being an entrepreneur, that’s one of the things I thought about, âexplained Coleman.
Coleman is one of the first three companies chosen to participate in this new small business incubator through the FAMU Small Business Development Center, which aims to provide better business opportunities for women and minority entrepreneurs.
âWe want to invest in the dreams of our entrepreneurs who are here in our community,â said a representative from FAMU.
The incubation program will provide coaches, mentoring programs and a shared workspace, as well as faculty resources across the university.
âWe also want to retain some of the talent from these great universities. And I see this as an opportunity, âsaid Dianne Williams-Cox, member of the Tallahassee City Commission.
Coleman told WCTV that he hopes this program will help his business get started.
âWhat I’m hoping for is just more resources, more network, more education,â Coleman said.
Copyright 2021 WCTV. All rights reserved.