The city of Denver is making moves to bolster its small business community with the aid of a grant program specifically designed to assist those affected by city-funded construction work. Denver Economic Development & Opportunity has announced that 25 small businesses that met the eligibility criteria will receive a one-time grant through the Business Impact Opportunity (BIO) Fund, providing sums of up to $15,000 to each recipient.
According to the City and County of Denver, Denver counts itself among the few across the nation offering direct grant assistance to businesses in this particular situation. "Denver's Business Impact Opportunity Fund program is one of only a handful of government programs across the nation that provides direct grant assistance to businesses impacted by city-funded construction projects," said Adeeb Khan, Executive Director of Denver Economic Development and Opportunity. The program also encourages residents to patronize these businesses, especially during times of construction.
In conjunction with monetary aid, technical support is also available to promote long-term stability and growth. The recent application round referred 37 enterprises to Mile High United Way for technical assistance, which includes marketing, bookkeeping training, and one-on-one business advising, among other services. This additional reinforcement underscores the city's commitment to the prosperity of its small business sector.
Support extends beyond just grants and advice, through initiatives like We Back the Fax. This endeavor rallies the wider community to engage with small businesses on East Colfax Avenue before, during, and after construction. To further this cause, Mayor Mike Johnston has been visiting establishments along East Colfax to bolster community support. Another opportunity for support is on the horizon with the second round of applications slated to open on May 13, for businesses situated on East Colfax Avenue, from Broadway to Colorado Blvd, who have not yet received grant aid in the first round.
