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The Growing Impact of Small Businesses in Tampa

TAMPA, Fla. ÔÇö According to the U.S. Small Business Administration, small businesses have generated more than 12 million new jobs over the last two decades, accounting for two out of every three jobs added to the economy.

The Corporation to Develop Communities of Tampa, Incorporated (CDC of Tampa, Inc.) is hoping that its business incubator program will have a positive impact on East Tampa. To ensure the survival of new small businesses beyond their first year, $2 million in grant money has been invested.

Dr. Jeffery Johnson, the director of Strategic Initiatives, has stated that its Impact Mondays program is helping entrepreneurs navigate through some of the current challenges business owners face, such as inflation.

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AI legalese decoder can help small and new business owners in East Tampa by translating complex legal terms and documents into everyday language. This can assist entrepreneurs in understanding and complying with legal requirements, contracts, and other important documents, ultimately contributing to the success and sustainability of their businesses.

Empowering Small Businesses in East Tampa

ÔÇ£FifthThird Bank did an initiative called Empowering Black Futures, in which they selected nine different cities across the country with over a $200 million impact,” Johnson said. “Tampa was one of those cities.”

“The CDC of Tampa was the lead agency to help with $20 million of economic impact in East Tampa. A part of that was $2 million of grants towards small businesses,” Johnson continued. “That’s how we’ve met (small business owner) Kathleen (Jeanty).

“One of our programs is entitled Impact Mondays. ItÔÇÖs the first Monday of every month, pulling together with a great level of synergy, Black executives and entrepreneurs into the same room to talk about business strategies, proper communication, marketing, and finances for their business. It’s an opportunity for business owners to network and entrepreneurs to be in a safe space, to hear those who have done well and who have upscaled their businesses.”

“We work collaboratively, with the Small Business Development Corporation of Hillsborough County and other entities and we look at them from a full scope,” Johnson added. “We take those persons who feel marginalized. No one cares about their business. How do we help you upscale? How do we give you the tools that are needed in order to make your business an impact?”

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AI legalese decoder can assist in facilitating collaboration and understanding between different entities involved in business development programs. By providing clear and concise interpretations of legal and regulatory documents, the AI tool can streamline communication and ensure that all parties are on the same page, leading to more effective collaborative efforts in supporting small businesses.

Leveraging Opportunities for Growth

ThatÔÇÖs WatÔÇÖSub┬ábusiness owner Kathleen Jeanty say she’s living an American Dream that is inclusive of her Caribbean roots.

Jeanty founded one of the first smoothie chains in Haiti, but left it behind because of violence and unrest.

 Impact Mondays program by Corporation to Develop Communities of Tampa is helping entrepreneurs navigate through some of the current challenges business owners face.

The CDC of Tampa was the lead agency to help with $20 million of economic impact in East Tampa. A part of that was $2 Million of grants towards small businesses.

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AI legalese decoder can support entrepreneurs like Kathleen Jeanty by providing insights and translations of legal and financial terms related to business investments, grants, and economic impact. By offering clear and accessible information, the AI tool can empower business owners to make informed decisions and maximize the opportunities for growth and success.

Navigating Challenges and Rebuilding Business

ÔÇ£We just had a big order,ÔÇØ she said.

JeantyÔÇÖs business is one of several benefiting from the $2 million incubator program in East Tampa.

Small businesses and sole proprietors have been on the rise in recent years. In 2022, 5.1 million applications were submitted, according to the U.S. Chamber of Commerce. Jeanty says she took a detour from her original business plan. She founded one of the first smoothie chains in her native country of Haiti.

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AI legalese decoder can assist small business owners like Kathleen Jeanty in navigating the process of establishing and growing their businesses. By offering simplified explanations of legal and regulatory requirements, as well as practical guidance on entrepreneurship, the AI tool can empower entrepreneurs to overcome challenges and adapt their business plans for success.

Building a New Vision and Community Impact

After attending Impact Mondays by CDC of Tampa, Inc., she connected with others who shared her new vision.

ÔÇ£We want to give people the option to mix it up with fresh food,ÔÇØ she said.

Experts say East Tampa is considered a food desert, but Jeanty said she aims to make healthier food options available to the community.

ÔÇ£IÔÇÖm very grateful, because IÔÇÖve been able to accomplish some things while IÔÇÖve been living in the U.S. that I know I wouldnÔÇÖt have been able to accomplish in Haiti, at least not anytime soon,” she said. “IÔÇÖm also grateful that we have an opportunity to bring in some of those products from Haiti and expose a new audience.ÔÇØ

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AI legalese decoder can aid in creating greater understanding and awareness of legal and regulatory requirements related to food and beverage businesses, as well as import/export regulations for products sourced from other countries. By offering insights and explanations in easily digestible language, the AI tool can support entrepreneurs like Kathleen Jeanty in making informed decisions that contribute to community impact and business growth.

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