This browser does not support the Video element.
New Economy Initiative helps small business with free resources
Imagine starting a new business with the backing of 80 other experienced company leaders - with resources, access to grants, and classes, all for free.
DETROIT (FOX 2) - Supporting small businesses is more than just a slogan that Detroit proudly endorses.
The backstory:
There are unique support services being offered with the touch of a button.
Imagine starting a new business with the backing of 80 other experienced company leaders - with resources, access to grants, and classes, all for free.
A new coffee shop in Livonia or a tech start up in Detroit - all of the small businesses start with a bright idea, but it takes a village to keep that light from going out.
Wafa Dinaro is the executive director of the New Economy Initiative.
"A business can be really good at making pastries or cupcakes - but they don’t have MBAs and this sort of brings all of the resources, and the MBA to them," said Wafa Dinaro. "So that they can get the support they need to make their business as successful as they want it to be."
The Gilbert Family Foundation was an early adopter when it comes to this notion that while competition is necessary, it’s better for the greater economy if all businesses thrive.
So it enlisted the help of the New Economy Initiative to create a one-stop shopping experience for small businesses.
"With the sole purpose of supporting entrepreneurs and small businesses in Michigan," said Dinaro.
Working with a total of 80 other partners, they created a platform full of questions and answers.
"It’s called The Michigan Small Business Helper," she said. "They have a place to go, they can access resources, events, grants, all of the information available for free, is now available (in one place) without having to look for it."
Businesses no longer need to make mistakes that costs time and money as they grow.
"They can go to classes, connect with coaches, or if they know specifically what they need help with," she said. "If they need help with their financial projections, they can search for that and go specifically to that."
The site MichiganSmallBusinessHelper.com launched in early October and it is there for the taking - as in, these resources are all offered free of charge.
"Anyone who wants to start a business, wants to create something, who has an idea," Dinaro said. "We have a broad definition of what entrepreneurs are."
It’s part of a nationwide trend to ensure small businesses grow up to become big employers, big earners, and helping the state’s bottom line along the way.
"Fifty-one percent of the workforce in our state is employed by small businesses," she said. "Which is why we think it is so important to continue to support and resource entrepreneurs so that trend continues."
It’s all built on the backs of the survivors - the ones that made it, and want to see others do the same.
"You only know what you know, and this is really to get the information into the hands of the entrepreneurs," she said. "So they are more efficient and they are not spending money where they don’t need to and that they are moving their business and growing their business in the most effective way."
All of this is funded by the Gilbert Family Foundation who has donated over $9.2 million to small businesses mostly in Detroit.
Find out more on this program at MichiganSmallBusinessHelper.com
The Source: Information for this report is from an interview with Wafa Dinaro is the executive director of the New Economy Initiative.