Officials in Oakland County are allocating $17 million in American Recovery and Reinvestment Act funds to a new nonprofit, Together Helping Achieve Inclusive and Vibrant Economies (Thrive).
Oakland Thrive takes over the county’s Business Forward consultant program, which was introduced by county executive Dave Coulter last year, on March 1.
More than 2,200 entrepreneurs, mom-and-pop stores, and merchants have been reached by the Business Forward initiative in its first year.
Coulter stated that the county’s entrepreneur-supporting one-stop shop had some success, but its fixed location required company owners to leave work to use the service.
The central location of Thrive’s new Riker Building offices in Pontiac helps the city achieve its aim of encouraging more people to patronize small businesses in the downtown area. Business advisors will continue to provide on-site support and do frequent outreach in particular areas.
The mission of Thrive will be to aid small companies owned by women, minorities, and veterans.
According to Sean Carlson, deputy county executive and founding board member of Oakland Thrive, these three categories confront a greater number of barriers to launching and sustaining a small business.
He stated that small business owners frequently lack the time and knowledge to seek out resources and that they are frequently unaware of what is available.
“Oakland Thrive will link these resources to those who need them so they can focus on operating and developing their businesses,” said Carlson, adding that Thrive will collaborate with the US Small Business Administration and Automation Alley, among others.
According to him, a portion of the $17 million would pay for services that businesses require. Thrive would pay a portion of the attorney’s expenses, increasing the value of the ARPA funds, he added. Thrive also satisfies the objective of employing ARPA funds for transformative and long-term assistance.
Last year, Business Forward debuted with eight consultants. By the 31st of December, the program had grown to sixteen consultants who contacted over 2,200 small company owners. This year, Thrive executives anticipate a minimum of 4,500 business meetings with evaluations. According to Thrive’s chief operating officer, Laura Dodd, Thrive will also assess customer satisfaction and the number of individuals who act upon suggestions.
“It’s useless to tell someone, ‘Hey, I know a wonderful attorney over here who will work with you,'” Dodd said, “if they never follow through and work with that person.” “We want to ensure that these linkages are established.”
Commissioner Angela Perry, herself a small company owner, stated that Thrive will provide more assistance to the individuals she has been recommending to Business Forward consultants. She stated that she and Commissioner Janet Jackson have prioritized assisting marginalized business owners.
Vicki Selva, chief executive officer of Thrive, described these company entrepreneurs as those that risk failure without assistance to overcome conventional constraints. She will also focus on fundraising to ensure the nonprofit’s continued viability after 2026 and extend services for entrepreneurs.
Oak Park’s economic development and planning specialist, Salam Habbab, views Thrive as an indispensable resource for microbusinesses, particularly those whose objective is to open brick-and-mortar retail locations. She estimated that the city contains 700 small companies, of which around 150 are home-based.
Oak Park City Hall is where Business Forward consultant Daryl Peguese makes his home. He spent his career in the telecoms industry performing business development and sales. Today he assists company owners with inquiries, recruits others to inform them of available resources, and conducts regular free workshops on topics ranging from accounting to social media to taxes. On March 15, he will be speaking at the Oak Park Community Center on starting a small company.
“From the first piece of paperwork through the opening of the doors, we ensure your success,” he stated. But without a solid basis, you will collapse within two years.
Business Forward assisted Cynthia Dane, a resident of Highland, in several ways. After her spouse died of pancreatic cancer in 2016, she founded Recipes 4a Reason in February of 2020 to help others. Her soup kits contain components rich in antioxidants. While her primary clientele is those with cancer, she added that everyone, including busy carers and those with food allergies, should find Recipes 4a Reason valuable. Consultants from Business Ahead showed her how to use computer software to manage money and assisted her when state tax officials deemed her business a pastime and disallowed her business deductions.
David Woodward, chairman of the county commission, stated that Thrive’s support results in more employment, small companies making more money, and increased trade while minimizing the danger of company collapse.