Q&A: New $10K Grants and Different Advantages for Entrepreneurs


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Verizon’s program for small enterprise simply launched info on its newest spherical of grant funding. The grant program is in partnership with LISC, and thru it, Verizon Small Enterprise Digital Prepared has dedicated $1M in small enterprise grants for 2023.

To change into eligible for the grants, you need to first be a part of Verizon Small Enterprise Digital Prepared. It’s free.

With VSBDR, you’ll not solely get entry to programs, reside teaching periods led by business specialists and different sources, however you’ll additionally be capable of apply for the unique pool of $10,000 small enterprise grants.

To unlock the appliance for the present spherical of grant funding, register on Verizon Small Enterprise Digital Prepared, full any mixture of two programs, teaching occasions, and group occasions, and apply by Could 12, 2023. 

Final 12 months, we reached out to Brianna Ellison, director of group engagement for Verizon, as a part of our initiative to convey the Verizon Small Enterprise Digital Prepared program to entrepreneurs and aspiring enterprise homeowners. She described among the advertising instruments, one-on-one mentoring and different points of this system that may assist small companies all through Michigan and the Nice Lakes area.

  1. What work is Verizon doing within the Detroit/Michigan group to assist small companies?

Verizon has actively partnered with Michigan small companies. We’re members of quite a few chambers of commerce and associations from throughout the state that work with small companies (such because the Detroit Regional Chamber, Grand Rapids Chamber, Dearborn Chamber, The Proper Place, MI Chamber, Automation Alley, Metro Detroit Black Enterprise Alliance, MI Enterprise Incubator Assoc.). Verizon participates in quite a lot of thought management occasions with these organizations to share experience and sources with their membership.

In 2021, we prolonged a grant to Grand Valley State College’s Veterans Entrepreneurship Lab. Veterans and/or navy spouses work on their enterprise launch over a three-month interval. MVE-Lab equips members to establish their goal prospects, community with others, and discover the sources they should launch profitably and efficiently. It concludes with a Pitch Showcase awarding at the least $25,000 in prize cash. Company embrace different veteran entrepreneurs, mentors, and specialists like attorneys and advertising specialists, together with the chief of Verizon’s veteran worker useful resource group who shared details about Verizon help for small enterprise homeowners alongside together with his personal private expertise as an entrepreneur.

Brianna Ellison
Brianna Ellison

In 2021, we additionally established a partnership between Verizon’s Professional Bono Program and the Metro Detroit Black Enterprise Alliance’s Capital Join Program. This program is making ready and connecting Metro Detroit Black-owned companies to numerous funding sources to make sure their sustained success. If any of those companies want additional authorized help or one-on-one help, the Verizon Professional Bono Program crew has agreed to work instantly with these companies to establish further authorized providers.

Lastly, in September, Verizon launched Small Enterprise Digital Prepared.  This on-line curriculum is designed to provide small companies the customized instruments to achieve in the present day’s digital world. This system consists of studying modules, skilled teaching, peer networking and a market of instruments and options.  The free on-line useful resource is offered to any small enterprise throughout Michigan (and nationwide) and can be utilized by Verizon companions such because the Black Enterprise Alliance’s Capital Join Program.

  1. What do you imply by “Digital Prepared” and why is digital readiness essential for small enterprise homeowners in the present day?

Digital readiness is about ensuring companies have all of the instruments and sources they should thrive in in the present day’s financial system. The COVID-19 pandemic has imposed unexpected challenges on entrepreneurs and additional accelerated a shift to digital methods of working.  Greater than 75% of small companies pivoted their operations as a result of disaster and greater than 50% of SMBs say their on-line interactions with prospects have elevated. To remain aggressive within the new financial atmosphere, small companies have to be agile and adapt to shifting client preferences.

12 Keys to Selecting and Growing a Facet Hustle Thought

Small enterprise entrepreneurs perceive the significance of using digital instruments of their day-to-day operations, however discover it difficult to implement significant digital transformation. In keeping with information printed from Morning Seek the advice of and Verizon of their September 2020 report, “greater than two in 5 determination makers say it’s seemingly that their enterprise will increase by way of digital applied sciences and rely extra closely on communications.” On the similar time, greater than two-thirds of respondents acknowledged that including or transitioning to digital/on-line operations has been difficult for his or her enterprise to handle. How can we bridge this hole? Entrepreneurs want easy accessibility—wherever they’re—to customized studying and training sources with a purpose to efficiently implement digital methods into their companies and have the arrogance to achieve the post-pandemic future.

  1. Why is the Verizon Small Enterprise Digital Prepared program a great useful resource for enterprise homeowners in metro Detroit and Michigan?

Dwelling to numerous analysis organizations and anchor establishments, together with a vibrant and multicultural entrepreneurial ecosystem, Detroit’s wealthy roots embody the hardworking and revolutionary ethos of its numerous small enterprise homeowners. Detroit has roughly 50k small companies owned by entrepreneurs of coloration and town is dedicated to making sure residents are gaining equal entry to academic and financial alternatives of the rising high-growth financial system. In keeping with a 2021 Detroit Ecosystem Evaluation, Detroit has 23% of all startup corporations in Michigan and has the entire mandatory sources to launch and develop companies which can be digital prepared. As Verizon seeks to attach BIPOC enterprise homeowners throughout the nation with this beneficial useful resource and create extra equitable pathways for entrepreneurs to thrive within the digital financial system, we view the small enterprise homeowners within the higher metro Detroit space—and Michigan—as a essential consumer base within the effort.

Verizon’s Small Enterprise Digital Prepared program was constructed by (largely BIPOC) small companies for small companies. Jamiel Robinson, the chief director of Michigan-based enterprise improvement group, Grand Rapids Space Black Companies (GRABB), was a distinguished voice within the Small Enterprise Advisory Committee that helped form this system and its choices. Various subject material specialists drive our content material, interactive video modules, and training occasions. Briefly, entrepreneurs in metro Detroit can be outfitted with digital methods and related learnings—by way of curated curriculum subjects, teaching occasions, and group teams—to use to their companies!

  1. What steering are the small enterprise homeowners you’re employed with searching for?

We all know typically that small enterprise homeowners are taken with studying extra about financing, digital advertising, and operational effectivity.  Our customers have advised us they’ve acquired super worth from the tutorial sources and in connecting instantly with specialists–by way of each one-on-one mentoring and group teaching occasions. Fifty-eight % of customers on the platform are taken with connecting with a finance skilled and 64% of customers on the platform are taken with connecting with a advertising skilled. The most well-liked subject areas are accessing capital, digital advertising, and bettering on-line presence. Enterprise homeowners would additionally desire to be part of a group the place they will be taught from each other, as 52% of customers wish to join with friends with comparable pursuits.

  1. How can Verizon assist with group networking on a private degree, not a digital one?

Verizon Small Enterprise Digital Prepared is constructed to be a beneficial device to the BDOs, Small Enterprise Improvement Facilities, CDFIs and different organizations which can be on the bottom serving to small companies day by day.  We’re partnering carefully with most of these organizations and dealing with them to combine our sources into their choices. Small Enterprise Digital Prepared’s group part additionally lets companies join with different companies and sources by metropolis in order that they will hook up with help of their native space!

On the onset of the COVID-19 pandemic, Verizon started the grassroots work of internet hosting digital group dialogues targeted on small companies in communities from throughout the state. The aim of those dialogues is to listen to concerning the nice work small enterprise homeowners and small enterprise improvement organizations are at the moment engaged in, the present and ongoing challenges small enterprise homeowners are going through, and to debate how Verizon may be supportive transferring ahead. Attendees have included small enterprise homeowners, small enterprise help organizations and chambers of commerce.

Now greater than ever, we at Verizon will proceed to construct on the extremely beneficial relationships with the communities we serve. These dialogues are solely the start of what we hope can be long-term partnerships the place we are able to proceed the dialog and discover future alternatives to be supportive.

  1. What abilities do you convey to the group as a liaison between Verizon and small enterprise homeowners?

As a neighborhood liaison between Verizon and small enterprise homeowners, I work to construct bridges of reference to my friends, inner enterprise companions and exterior stakeholders to champion insurance policies that enrich lives and allow a digital future that serves all Michigan communities. I’m able to leverage relationships inside Verizon and with enterprise help group companions to kind coalitions to deal with the challenges small companies face, amplify successes and finest practices, and disseminate details about Verizon instruments and sources. Reflexively, I meet with companies to hearken to their wants and drive the best way through which we deposit goodwill in our native communities and innovate to construct the networks that transfer the world ahead for everybody.

Initially printed in September 2022.

Verizon Small Enterprise Digital Prepared: A free useful resource for studying primary enterprise abilities, grants, the newest digital know-how and extra.



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