The New Bedford Economic Development Council’s (NBEDC) "NB100!" program aims to promote entrepreneurship, grow local wealth, and strengthen community bonds through technical assistance and $10,000 kick-starter grants offered by its partners. John Williams, Dean of the Charlton College of Business (CCB), has secured a $50,000 grant for the Charlton College of Business to work with the NBEDC as a spoke partner in the NB100! program.
Through this program, local entrepreneurs will have an opportunity to apply for technical assistance offered by CCB faculty through a cohort style of instruction, facilitating assistance through a series of workshops in a small group setting.
"This award is recognition of the heightened level of expertise that our faculty possess in the area of entrepreneurship," said Williams. "CCB faculty will bring their extensive academic and practical experience to help identify and address the unique business needs of each client through a balance of instruction and discussion."
Kick-starter grants are designed to provide working capital for businesses impacted by COVID-19, so they can prevent, prepare, or respond to challenges presented. Eligible uses include business lease or mortgage payments, utility payments, monthly insurance costs, payroll, and more.
To consult best practices and uses of funds, CCB will interview grant recipients to identify specific needs and concerns before hosting a series of workshops to analyze financial documents, forecast growth, identify breakeven points, cover legal issues, and create marketing campaigns.
"We are extremely excited to be working with local entrepreneurs. A major component of our mission in the college is to provide innovation to organizations through our engagement endeavors," said Williams. "Efforts like this can result in a very positive impact on the vitality of the community."