Small Biz Catalyst

Nathan Ohle, CEO of the International Economic Development Council (IEDC), discusses the innovative approach of the Economic Recovery Corps (ERC) program and its impact on economic development. The ERC program focuses on building capacity in under-resourced communities and cultivating the next generation of leaders. It provides tools, resources, and opportunities for entrepreneurs and small business owners to grow and thrive. The program aims to create long-term, sustainable change and drive inclusive and equitable economic outcomes. Collaboration and a willingness to fail are key principles for entrepreneurs and economic development organizations to succeed.

Takeaways:

• The ERC program is an innovative approach to economic development that builds capacity in under-resourced communities and cultivates the next generation of leaders.
• Entrepreneurs and small business owners can benefit from the ERC program by accessing tools, resources, and opportunities for growth and resilience.
• Economic development organizations can get involved with the ERC program by applying to be host organizations for future cohorts or by utilizing the program's resources and learnings.
• The ripple effects of the ERC program include growing investment in communities, driving inclusive and equitable economic outcomes, and fostering collaboration among economic development professionals.
• Two key principles for entrepreneurs and economic development organizations are being willing to fail and embracing collaboration.

Grant:
McKesson Foundation
Eligibility

• 501(c)3 nonprofit organizations or Canadian equivalent
• Programs must be based within the United States or Canada

There are several ineligible organization and request types. Be sure to review the guidelines to determine eligibility.

https://www.mckesson.com

Maximum Grant: not specified
Deadline: April 30, 2025

Guidelines and Application: https://www.mckesson.com/about-mckesson/impact/mckesson-foundation/

Application Period
Requests over $25,000 are accepted from February 1 to April 30, annually.
Requests under $25,000 are accepted year-round.

Resources:
Contact IEDC at www.Iedconline.org
Find out about the EDP and CEcD certification (The Gold Standard in Economic Development Profession)

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In this episode of Small Biz Catalyst, Ayisat discusses the Beneficial Owners Information (BOI) filing requirements under the Corporate Transparency Act. The conversation covers the importance of compliance, key dates for filing, who needs to file, exemptions, and a step-by-step guide on how to file a BOI report. Ayisat emphasizes the potential penalties for non-compliance and encourages listeners to share this crucial information with others in the business community.

The Corporate Transparency Act requires certain types of U.S. and foreign entities to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.
Ayisat provides step-by-step instructions on how to file the BOI report online, including the five sections that need to be completed. She encourages listeners to file the report as soon as possible to ensure compliance with the Corporate Transparency Act.

Resources:

Washington Federal Foundation Grant:
Maximum Grant: $5,000
Deadline: NONE
Guidelines and Application: https://www.wafdbank.com/about-us/washington-federal-foundation

PNC Foundation Grant:
Maximum Grant: not specified
Deadline: NONE
Guidelines and Application: https://www.pnc.com/en/about-pnc/corporate-responsibility/philanthropy/pnc-foundation.html

Grant application review email: [email protected]
Veterans Entrepreneurship Grant by TWU-CWE: twucwe | Instagram, Facebook | Linktree

SmallBizCatalyst.org/resources

Takeaways

• You will know exactly what to do to comply.
• The Corporate Transparency Act is effective in 2024.
• Key dates for filing include January 1, 2025.
• There is no fee for submitting a BOI report.
• Domestic reporting companies must file BOI reports.
• There are 23 exemptions from filing requirements.
• Filing can be done online or via PDF.
• Non-compliance can result in significant fines.
• It's crucial to share this information with others.
• The process of filing is straightforward and manageable.

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Tag a business for a chance to win $25. Winners will be randomly selected each month. The winner choice of business could be featured on the podcast or our social media outlet.

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In this episode, host Ayisat Abilogun interviews Tracy Erby, the director of Texas Women's University and the Center for Women Entrepreneurship, about accessing grants for small businesses. Tracy shares valuable insights and tips on how to successfully apply for grants, including the importance of reading and following grant guidelines, avoiding common pitfalls, and highlighting the use of funds. She also provides information on grants currently available, such as the Start Her Grant, and emphasizes the importance of building a strong network and valuing customers. Overall, this episode offers actionable advice for small business owners looking to access grant funding.

Resources:
Grant application review email: [email protected]

45 Small-Business Grants for Women: Free Funding in 2024 - NerdWallet

https://www.sba.gov/article/2024/12/19/sba-growth-accelerator-fund-competition-accelerate-innovation-driven-ecosystem-building-9-million

https://www.sba.gov/article/2024/01/08/sba-growth-accelerator-fund-competition-opens-jan-8-expand-strengthen-its-national-innovation

SmallBizCatalyst.org/resources


Takeaways

• Read and follow grant guidelines to ensure eligibility and meet requirements
• Avoid common grant pitfalls, such as not answering all questions and not requesting the full grant amount
• Highlight the use of funds and be clear and concise in grant applications
• Take advantage of grants currently available, such as the Start Her Grant by TWU CWE opens September 3rd, 2024, at smallbizcatalyst.org/resources
• Build a strong network and seek support from other entrepreneurs
• Value and appreciate customers and clients

Support the show

Learn more at Resources | Small Biz Catalyst

In this episode, our host, Ayisat shares five essential tips for small business owners to achieve steady growth and increase revenue. The discussion covers the importance of separating personal and business finances, monitoring cash flow, building valuable affiliations, strategies for revenue growth, and establishing strong banking relationships. Additionally, Ayisat highlights grant opportunities available for small businesses, particularly in rural areas.

Takeaways

• Separate personal and business expenses for clarity.
• Monitor cash flow to ensure business health.
• Networking is crucial for business growth.
• Invest in marketing to reach more customers.
• Understand your customer avatar for targeted marketing.
• Maintain a strong online presence for visibility.
• Build relationships with your bank for support.
• Consider multiple banking options for flexibility.
• Explore grant opportunities for funding.
• Stay informed about financial resources available for small businesses.

Resources:
Grant 1:
United States Department of Agriculture - REAP
Program Types Funded: Food, Agriculture, and Nutrition, Employment, Economic Development, Job Related and Business Grants
 States: Texas
Grant Amounts
Renewable Energy System Grants: $2,500 - $1,000,000
Energy Efficiency Grants: $1,500 - $500,000
Match
A match is required. Refer to the full guidelines for the specific requirements.
Eligibility
Agricultural producers, defined as an entity directly engaged in production of agricultural products where at least 50 percent of their gross income coming from agricultural operations.
Contact:
https://www.rd.usda.gov
Maximum Grant: not specified
Deadline: March 31, 2025
  Guidelines and Application: https://www.rd.usda.gov/programs-services/energy-programs/rural-energy-america-program-renewable-energy-systems-energy-efficiency-improvement-guaranteed-loans/tx

Grant 2:
United States Department of Agriculture - Rural Microentrepreneur Assistance TX
Program Types Funded: Employment, Economic Development, Job Related and Business Grants
 States: Texas
Eligible Applicants
The following are eligible to be a Microenterprise Development Organization:

• Nonprofits.
• Federally-recognized tribes.
• Institutions of higher education.

Contact:
  https://www.rd.usda.gov
  Maximum Grant: not specified
Deadline: March 31, 2025
  Guidelines and Application: https://www.rd.usda.gov/programs-services/business-programs/rural-microentrepreneur-assistance-program/tx

Grant 3:
United States Department of Agriculture - Rural Economic Development Loan and Grant Program
Program Types Funded: Employment, Economic Development, Job Related and Business Grants, Community Improvement, Capacity Building
 States: Nationwide
Contact:
  https://www.rd.usda.gov
  Maximum Grant: $300,000
Deadline: March 31, 2025
  Guidelines and Application: https://www.rd.usda.gov/programs-services/rural-economic-development-loan-grant-program


Small Biz Catalyst Podcast

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In this episode of Small Bees Catalyst, host Ayisat Abilogun introduces the show and shares her extensive experience in entrepreneurship and economic development. She discusses upcoming changes to the show, including the introduction of grant opportunities and a focus on economic development organizations. Ayisat shares about a new series and emphasizes the importance of building an inclusive ecosystem to support entrepreneurs, particularly in Texas, to help them thrive and overcome the challenges faced by small businesses.

Have a prosperous and joyous 2025 from the Small Biz Catalyst team.
Happy New Year!

Takeaways

• Ayisat Abilogun is a certified entrepreneurship development professional who has supported over 20,000 individuals and entrepreneurs.
• Understanding the challenges of starting and running a business is crucial.
• New initiatives will include grant opportunities for businesses.
• Highlighting economic development organizations will connect entrepreneurs to resources.
• The inclusive ecosystem hub aims to support Texas businesses.
• Many small businesses struggle to survive beyond five years.
• The goal is to reverse the statistics on small business failures.
• Community engagement is vital for the success of Small Biz Catalyst.
• A prosperous and joyous 2025 is wished for the community.

Support the show

Learn more at Resources | Small Biz Catalyst

In this heartfelt holiday episode of Small Biz Catalyst, Ayisat reflects on the journey of the show and expresses gratitude to the audience and contributors. She shares her personal experience of navigating the holidays after the loss of her father, emphasizing the importance of courage and hope during difficult times. Ayisat encourages listeners to find solace and forgiveness, reminding them that they are not alone in their struggles.

Takeaways

• Thank you to everyone who contributed to the journey.
• Holidays can be difficult for those experiencing loss.
• It's important to acknowledge and share our grief.
• Forgiveness can be a long journey, but it's possible.
• Trusting in a higher power can aid in healing.
• Celebrating the memories of loved ones is essential.
• Courage is vital during tough times, especially during holidays.
• Finding hope can help in the healing process.
• It's okay to miss those we've lost, especially during celebrations.
• Wishing others well can bring comfort to ourselves.

Support the show

Learn more at Resources | Small Biz Catalyst

In this special holiday episode of Small Biz Catalyst, host Ayisat reflects on the top 20 episodes, sharing valuable insights and advice from past guests. The conversation covers essential topics such as navigating grant applications, the importance of organization in business, and the critical role of networking and community support for entrepreneurs. Listeners are encouraged to leverage available resources and build connections to foster business growth and sustainability.

takeaways

• Ensure you are a fit for the program you're applying to.
• Always ask for the full amount in grant applications.
• Access to capital is crucial for business growth.
• Being organized is the primary responsibility of a business owner.
• Networking is essential for entrepreneurial success.
• Building relationships is key in different cultures.
• Utilize local grants and incentives for small businesses.
• Community support can drive the vitality of a business.
• It's never too late for your season to come.
• Adaptability is important in business, especially during challenges.

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Learn more at Resources | Small Biz Catalyst

Summary:
In this celebratory episode of Small Biz Catalyst, host Ayisat Abilogun reflects on the key lessons learned from past guests and episodes, emphasizing the importance of taking risks in entrepreneurship, understanding grants, embracing innovation, and the value of networking. The episode also highlights the significance of financial management and storytelling. She expresses gratitude to listeners and guests for their support.

Takeaways:

• Take the leap of faith into entrepreneurship.
• Failure is a part of the journey; embrace it.
• Thoroughly read and understand grant applications.
• Observe your surroundings to identify business opportunities.
• Innovation and AI are crucial for modern entrepreneurship.
• Be aware of cultural differences in global business.
• Networking is essential for business growth.
• Maintain simple and consistent financial records.
• Engage with your community for support and resources.
• Gratitude towards listeners and guests is vital for success.

Resources:
Small Biz Catalyst Podcast: Driving Economic Change Through Innovation | Small Biz Catalyst

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In this episode, Ayisat Abilogun interviews Jahkil Jackson, a 17-year-old social entrepreneur and founder of Project I Am, which focuses on addressing homelessness through the distribution of blessing bags. The conversation explores Jahkil's journey into social entrepreneurship, the importance of networking, and the challenges of balancing business with being a teenager. Jahkil shares valuable lessons learned, the significance of giving back, and offers advice for aspiring entrepreneurs, emphasizing that age should not be a barrier to making a difference.

Takeaways

• Social entrepreneurship can start at any age.
• Networking is essential for success in business.
• Introverts can thrive in entrepreneurship with the right strategies.
• Giving back provides a sense of purpose.
• Time management is crucial for balancing multiple responsibilities.
• Starting small can lead to significant impact.
• Virtual events can expand outreach and engagement.
• Creating a supportive community is beneficial for young entrepreneurs.
• Selling merchandise can help sustain a nonprofit organization.
• Don't wait to be great; start making an impact now.

Resources:
Project I Am website: (Project I Am) 

Official Project I Am social media: @officialprojectiam 
Small Biz Catalyst Podcast: Driving Economic Change Through Innovation | Small Biz Catalyst

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In this episode of Small Biz Catalyst, host Ayisat Abilogun speaks with global trade expert Cynthia Traore about the significance of global trade for economic development and entrepreneurship. They discuss how global trade can enhance business resilience, the importance of market research, and the need for strategic planning. Cynthia shares valuable insights on building relationships, networking, and utilizing various resources available for entrepreneurs looking to expand into global markets. The conversation emphasizes the importance of knowledge, compliance, and leveraging technology in today's global business landscape.

Takeaways

• Global trade fosters economic growth and innovation.
• Market diversification is crucial for business resilience.
• Entrepreneurs should conduct thorough market research.
• Developing a global trade strategy is essential.
• Understanding compliance and regulations is key.
• Building relationships is vital in international business.
• Utilize available resources for export assistance.
• Invest in knowledge and continuous education.
• Leverage technology for global reach.
• Seek expertise and support from networks and organizations.

Resources:
Daily Bugle:
https://content.ndia.org/divisions/international/export-import-compliance-resources/import-export-daily-update-daily-bugle
State Trade Expansion Program (STEP) Grant:
State Trade Expansion Program (STEP) | U.S. Small Business Administration
Small Biz Catalyst Podcast: Driving Economic Change Through Innovation | Small Biz Catalyst

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Support the show

Learn more at Resources | Small Biz Catalyst