Tempe-based micro-manufacturing businesses owned by BIPOC entrepreneurs will get a boost from a series of first-ever federal and local grants under a new program being created by the City of Tempe.
At its Sept. 8 Regular Meeting, the Tempe City Council approved contracts to support Black, Indigenous and people of color micro-manufacturers with business consulting services and grant funds. Micro-manufacturing is the creation of products in small quantities, often using smaller manufacturing facilities. According to the U.S. Small Business Administration, about 11% of Arizona small businesses are minority-owned.
The $800,000 program includes $500,000 from the federal Congressional Community Project Funding and $300,000 from Tempe.
“Investing in Tempe’s entrepreneurs is a way of investing in our city’s future economic growth,” said Mayor Corey Woods. “This is an innovative way of helping to support Tempe companies with the coaching and capital they need to be successful.”
The program is still being created – details on how to apply to be part of the program and the exact services available will be announced later.
The Council awarded these contracts for business consulting services and the administration of grant funds:
- FABRIC Tempe is set up to provide apparel entrepreneurs with all of the guidance, education and consulting that they need to start and grow a business that manufactures sewn products.
- The Tempe Chamber of Commerce has been serving the business community for over 100 years in the areas of funding, marketing, HR, management and others.
- Hustle PHX offers the 101 Entrepreneurship Program, which affords participants the intellectual, social and financial capital along with mentorship to support them in building a business. They have helped launch 300 small businesses.
- Pacific Southwest Minority Supplier Development Council is a leading non-profit that has been advocating for Minority Business Enterprises since 1993. The non-profit has programs addressing the specific issues of small minority enterprises, with an emphasis on small Black-owned manufacturing businesses.
- RAIL CDC’s Equitable Small Business Technical Assistance Program provides free one-on-one consulting and technical assistance services to business owners and entrepreneurs in our commercial corridors, focusing on immigrant-, women- and minority-owned businesses.