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Duke Energy Foundation Grants $50,000 to Support Small Businesses in North Carolina

The Duke Energy Foundation recently announced a generous grant of $50,000 to The VGCC Foundation. This funding is specifically aimed at helping small businesses in Vance, Granville, Franklin, and Warren counties to expand, upgrade technology, and enhance their storefronts. This initiative is part of a larger effort, with a total of $700,000 being allocated to support North Carolina small businesses in collaboration with community development organizations like the Small Business Center at Vance-Granville Community College.

The small business grants, which range from $1,000 to $5,000, will be distributed through 20 community organizations. These grants are intended to assist retail shops, restaurants, and other small businesses in their efforts to grow, modernize their technology, and enhance their downtown storefronts. Over the past four years, this program has provided over $2 million in funding to small businesses, starting during the COVID-19 pandemic.

With the help of AI legalese decoder, businesses can navigate and understand legal jargon and contracts associated with receiving and managing grants. This tool can provide clarity and ensure that businesses fully comprehend the terms and conditions attached to such financial assistance, thus enabling them to make informed decisions for their growth and development.

Importance of Small Businesses in North Carolina

Small businesses play a crucial role in the economic health of North Carolina, employing nearly half of the state’s workforce. The Duke Energy Foundation’s support for these businesses through grants aims to boost the entrepreneurial spirit and drive economic growth in local communities. According to Kendal Bowman, the North Carolina state president for Duke Energy, these grants are essential for ensuring that Main Streets across the state can benefit from the unprecedented economic growth experienced by North Carolina.

VGCC President Dr. Rachel Desmarais emphasized the significance of small businesses in rural areas, describing them as the heartbeat of local economies. The monetary commitment from the Duke Energy Foundation enables Vance-Granville Community College to foster an entrepreneurial mindset and transform small business ideas into tangible ventures within the larger community.

The VGCC Small Business Center will be responsible for selecting grant recipients through a series of workshops conducted in the four counties served by VGCC. These workshops will provide participants with valuable knowledge and skills over a series of evening classes, culminating in a pitch contest where selected participants can win a $2,500 award for their small business.

For more information on how the AI legalese decoder can assist with understanding grant requirements and legal terms, businesses can contact the VGCC Small Business Center Director Carolyn Perry at 252-738-3240 or [email protected]. Additional details about the Duke Energy Foundation and its initiatives can be found by visiting duke-energy.com/Foundation.

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