Assess. Address. Activate.
No, that’s not our newest affirmation — they’re the three core steps of the city’s new Triple A Business Assistance Program.
Created with funds from the federal American Rescue Plan Act, the program will provide targeted assistance to small businesses in Richmond. The city’s Office of Minority Business Development is leading the charge.
Here’s how it works. Eligible small businesses can apply for the program. After a selection committee reviews the application, chosen participants will undergo extensive “assessment” to determine strengths and weaknesses. The business will then be assigned a strategist to help develop a business plan (“address”) + will be provided with resources to execute the plan (“activate”).
To qualify, businesses must:
- Be physically located in the City of Richmond
- Have no more than 50 employees and/or independent contractors
- Not exceed $750,000 in revenue annually
- Have been in business for three years at minimum
- Be in good standing with the State Corporation Commission
- Be registered with the Office of Minority Business Development
The OMBD is hosting two virtual information sessions before the application deadline. Tune in and get your questions answered Thurs., Feb. 3 at 12 p.m. + Wed., Feb. 9 at 6 p.m. Registration is required to attend.
Interested, or know a small business owner who might be? The deadline to submit an application is Tues., Feb. 15. Access the application here.