Saint Paul's local businesses are poised for growth with a hefty $2.3 million shot in the arm from the city's Neighborhood STAR program, funds earmarked for 41 local capital improvement projects that aim to strengthen the community's core, Mayor Carter sees this as more than money—it's a nod to the crucial role small businesses play in the city's fabric, a sentiment shared in a statement to the Small Business Newsletter.
The STAR program’s cash injection is expected to spark over $3 million in additional capital investment, a boon for small businesses and organizations with modest annual revenues or tight employment numbers yet. This year's awards intentionally spotlight women and minority-owned ventures, with two-thirds of the grants dedicated to these groups, driving innovation and positive change, STAR board member Natalie King admitted. The program's transformative power reaches beyond financial assistance to bolster community projects with far-reaching impacts, exemplified by Dawn Huffman's Grand Ole Creamery, which plans sustainable improvements thanks to its award.
Meanwhile, Ward One's soul food gem, The Donut Trap, is branching out from vending machines and food trucks to a full-fledged brick-and-mortar haven, thanks to STAR funding. Owner Bradley Taylor, who's called Saint Paul home for over a decade, envisions his expansion as a "game changer" for community building and a tasty draw for years to come, sentiments echoed by Erin Lewis, the program coordinator, who underscored the STAR program's pivotal role in representing the unique identity of each city ward as reported by the Small Business Newsletter.
Alongside the STAR program, Saint Paul's small business ecosystem is rife with opportunities such as the Ascend Twin Cities cohort gearing up for 2024, focusing on aiding profitable BIPOC businesses, and the CEI Vanguard Accelerator poised to boost Latina and Black women entrepreneurs' growth with potential grant funding. These initiatives, coupled with ConnectUp! Institute's Capital Readiness and Lunar Accelerator programs underscore an intense city-wide effort to lift and sophisticate the local business landscape.
For the entrepreneurial at heart, the upcoming NDC Plan It! training class is a veritable crash course in business fundamentals, while WomenVenture's Small Business Essentials course caters to new entrepreneurs ready to leap into business with confidence. The free Open to Business program stands by to dish out technical assistance—free of charge—demonstrating the city's determination to back its business community comprehensively, while financial support and tax updates flesh out the extensive support network highlighted in the Small Business Newsletter.
