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Insights from the North Oakland Regional Chamber Association Monthly Breakfast

Event Overview

On March 28, representatives from the U.S. Small Business Administration (SBA) and the nonprofit organization Oakland Thrive gathered at Villagers Restaurant, located off South Saginaw Street in Holly, to share valuable insights with local small business owners. This monthly breakfast, organized by the North Oakland Regional Chamber Association (NORCA), served as a platform for these representatives to discuss the various tools and resources available to small businesses.

Support from the U.S. Small Business Administration

Brandon Adolph’s Presentation

Brandon Adolph, who represents the Detroit office of the SBA, a crucial government agency designed to support small business owners throughout Michigan and the nation, delivered an informative session at the event. He outlined several avenues through which the SBA can assist small business owners, including disaster relief options, access to loans and grants, and valuable counseling services.

Empowering Entrepreneurs

“You are the backbone of the economy, and we’re here to help,” Adolph emphasized, reassuring attendees that the SBA remains dedicated to supporting both startups and established businesses. He elaborated on what he termed the “Three Cs and a D”—free counseling, access to capital, government contracting opportunities, and disaster relief support—offered to business owners navigating the complexities of entrepreneurship.

Eligibility Requirements

To benefit from SBA assistance, Adolph informed the audience that interested business owners must be U.S. citizens and have a comprehensive business plan in place. This stipulation is critical, as it enables the SBA to collaborate effectively with various lenders, including traditional institutions like Bank of America, as well as nontraditional credit unions and Community Development Financial Institutions (CDFIs). By working with both types of lenders, the SBA aims to facilitate better lending rates for ambitious entrepreneurs.

Focus on Economic Development by Oakland Thrive

Mission of Oakland Thrive

Oakland Thrive, a 501(c)(3) nonprofit organization, aims to bolster economic development in Oakland County, with a particular emphasis on supporting women-owned, minority-owned, veteran-owned, and LGBTQ+ owned small businesses. Tony Cook, the director of small business services at Oakland Thrive, shared insights on how the organization operates during the breakfast meeting.

Operational Support for Businesses

Focus areas highlighted by Cook included assisting businesses in the critical operational phase. He noted, “Our sweet spot is that third phase called operational,” which reflects the challenges that business owners face post-contract signing and the subsequent need for clarity and direction.

Key Pillars of Business Management

Cook emphasized that Oakland Thrive offers support across six critical pillars of business: consulting, information technology, legal services, human resources, accounting, and marketing. “These are some of the things that businesses, whether they are just starting out or have been in operation for some time, need to address,” he explained, underscoring the comprehensive approach that Oakland Thrive takes.

Filling the Gaps for Entrepreneurs

Tailored Solutions for Business Owners

One of the key offerings of Oakland Thrive includes helping business owners identify and fill gaps in their business plans, whether this involves working directly with professionals or developing tailored strategies to enhance their operations. This personalized support can be vital for entrepreneurs striving for success in a competitive marketplace.

Networking Opportunities Through NORCA

Upcoming Events

The North Oakland Regional Chamber Association continues to provide valuable networking opportunities, with the next breakfast scheduled for April 25. This event will feature the Western Oakland Transportation Authority (WOTA) as the guest speaker. Attendance costs $12 for members and their employees, while non-members are charged $20. For more information about upcoming events and networking sessions, potential attendees can visit NORCA’s website.

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