A new step dedicated to breaking financial barriers and strengthening small businesses will soon focus on businessmen in the Ikron area.
City Akran has been selected to participate in the Small Business Boost Initiative, which is a program headed by the national City for a financial -authorized fund. The move aims to provide financial advice to local, small business owners to help them better manage their personal financing.
As one of the seven municipalities selected for this program, Akran will connect his small business support services to the Lord Financial Empowerment Center (FEC) initiative By the opened Summit and the united method of Medina. Through this cooperation, Ikran received support, 000 90,000 Principal FoundationA global non -profit organization that is committed to help providing financial protection to people.
Summit and Medina County residents can schedule financial consultation appointments Online Or by calling 2-1-1.
According to a city report, the program tries to help small business owners deal with personal finance barriers that are often standing on the path to expanding their business. Advisors to the financial empowerment centers will do one work with low and moderate income individuals to manage their financing, including debt payments, increasing savings and setting up credit.
“Our small businesses are the heart of our community,” Mayor Shams Malik said in his release. “We want to help traders start and enhance their own business as well as manage their own personal financial journals.”
Pilot program shows a decrease in crime, increasing savings
Will also provide the program Akran Financial Empowerment Center Special training advisers about the relationship between personal finance and business growth. They will learn that the way to guide businessmen when they visit the business environmental system and run business results by improving personal finances.
Akran had participated in a year before Small Business Boost Pilot ProgramWhich began in March 2022. The pilot found out how financial consultation could help business owners stabilize and improve their personal financing.
Of the 529 small business owners at five pilot locations – Akran; Lansing, Michigan; Pittsburg, Pennsylvania; Rochester, New York; And Polyk County, Iowa – 19 % clients reduced the number of notorious accounts and 8 % increased their savings, according to AN Report of the Urban Institute.
In this new version of the program, will work with the city Progressive Alliance Community Development CorporationFor, for, for,. North Hill CDC And well CDC Akran Food works The news release states that the team, but the program is open to all the city’s small businesses.
In the news release, “small business ownership can prove to be a powerful path, which helps businessmen create financial stability and wealth for their own family and their communities.” “But for many people, personal financing is a hindrance to a strong start.”
