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What’s this all about?
Are you thinking about starting a new business? Or have you been in business less than two years and want to expand? Running your own business is exciting and sometimes overwhelming and costly. (MORE DETAILS HERE)
In an effort to promote business growth in Northeast Franklin County, NC, as well as Franklin County in general, The Northeast Franklin Revitalization (NEFR) Group is offering a grant program to encourage new businesses and help expand existing small businesses under two years old and with a workforce of three or less.
APPLICATION DEADLINE IS MAY 31, 2022.
What will be offered?
Opportunity will be offered to a maximum of 12 people who want to start a business or expand an existing business in 2022-2023. Persons interested must submit an application, be chosen by a Selection Committee appointed by the NEFR Group, and attend a mandatory four-week business class offered through Vance-Granville Community College/Franklin County campus, Louisburg NC. Classes will be held July 12 – August 4, two sessions per week on Tuesday and Thursday from 6-9pm.
The class program will help participants develop a business plan, which is a roadmap for your business; gain insight for financing and banking options; understand legal references; and overcome the fear of bookkeeping and taxes. All this plus other details that are required to make a new or newly formed business a success.
What is required to be considered for a grant?
Completion of a four-week class program is required. The class is FREE to the applicant with the cost sponsored by the Northeast Franklin Revitalization Group. Each participant is required to bring a laptop or electronic tablet for Internet access.
This program will introduce aspiring entrepreneurs and existing business owners to the concepts and practices that will give them the tools necessary for business success.
At the end of the program, each participant will have completed a basic small business plan, and will have the opportunity to present that plan and business model to the Selection Committee for the grant award process.
Explain the Grant Opportunity
Once applicants have attended all classes of the mandatory four-week class program, the Selection Committee will choose the best business plan and business model, as well as a runner up. The best plan and model will receive a $5,000 Start-Up Grant and the runner up will receive $3,500.
The remaining 10 students will be awarded a $1,000 grant, provided they submit an acceptable business plan to begin or expand their business.
Highest priority will be given to those who plan to operate their business in Northeast Franklin County, followed by those operating within Franklin County in general.
**There is no guarantee that a grant will be awarded**
THE DECISION OF THE SELECTION COMMITTEE IS FINAL. (MORE DETAILS HERE)
Source: R1 / other
