Make It Your Business is a newsletter from the New Economy Initiative highlighting events, resources, and opportunities for southeast Michigan entrepreneurs.

1. There are many resources being developed for business assistance, where does NEI think it can be of greatest help? 

We want to be of help to the many organizations that we support--and through them--the small businesses they serve. NEI’s grant funding impacts 2,000 businesses located in metro Detroit, more than 60 percent of which are women and people of color. 
Typically, these are small businesses based in lower-income communities, with under $250,000 in annual revenue, that employ at least three people.

There are some things we can share right now:

1. We are working with our current grantees to be flexible regarding the use of their grant funds. If you are a current grantee and have questions, you can contact your program officer. 

2. Through our storytelling initiative, In Good Co. Detroit, we are pointing people to inspiration. Information is also being curated via our Startup Space resource navigation application and online platform.  

3. We are working with our funders to provide additional capital relief to Detroit small businesses that will compliment government programs. More information will be forthcoming.

The best way to be kept informed about available resources from NEI is to visit our website: https://neweconomyinitiative.org/ or to follow us on Facebook | Twitter  | Instagram.

We are curating resources to share out on our social media platforms and house on our website. Here are the resources we’ve collected to date:

EO 2020-20

MEDC funding plan

MEDC grants program

MEDC loan program

MEDC workshare program

Oakland County EDO 

Washtenaw County EDO 

Michigan SBDC resources and webinars to assist small businesses

Department of Treasury small business taxpayer guidance

TechTown Stabilization Fund

TCF Small Business Loan Relief Fund

Business Leaders for Michigan

Startup Space

Chefs for America

SBA of Michigan

US Small Business Administration

ICIC Small Business Resource Center for COVID-19

Facebook Small Business Grants Program

We are in the “rapid relief” stage of responding to this crisis. None of use can believe how fast things are changing. Please be assured that the network of small business technical assistance providers (across philanthropy, nonprofit, commercial and government) are working to coordinate and make this as efficient and straightforward as possible. NEI seeks to be a place where all entrepreneurs and small business owners can come to in order to be pointed in the right direction.

Events 

Many around the ecosystem are offering virtual webinars, events and office hours. NEI will also share these on our website. If you are an organization hosting webinars or events or providing technical assistance, please let us know at neicommunications@cfsem.org.

Bamboo Detroit is beginning a lunchtime series bringing local and national founders and investors live to do Q&A with local startup companies. Check their site for more details and to sign up.

TechTown Detroit is offering free consultations with members of their team using digital platforms. Schedule an appointment to be supplied with a link to join the meeting using video conferencing: Open Office Hours and Ask An Expert. 

In Good Company: Stories of Resilience

This is a community of opportunity, brimming with stories of small business resilience and survival. Below are stories of Detroit area businesses and organizations that are navigating these challenging times. 

https://www.crainsdetroit.com/coronavirus/we-wont-let-you-die-small-businesses-adapt-coronavirus-upheaval

https://www.modeldmedia.com/features/covid19-community-response-031720.aspx 

https://www.detroitnews.com/story/entertainment/dining/first-draft/2020/03/19/local-breweries-crafting-hand-sanitizer-customers-first-responders/2874252001/ 

https://www.modeldmedia.com/features/hospital-mask-shortage-032320.aspx

https://www.detroitnews.com/story/opinion/columnists/chuck-bennett/2020/03/23/society-covid-19-doesnt-stop-people-helping-others/2899166001/

You are not alone. 

We are here to serve the community and stand as a resource for you. Have any questions related to COVID-19 resources for entrepreneurs and businesses, or have a resource or opportunity to share with the metro Detroit entrepreneurial ecosystem? Contact us at neicommunications@cfsem.org.

More entrepreneurship events, resources, and opportunities here.